BMO CashBack® Mastercard®* (Student)

Flytrippers opinion: A no-fee cash back card with a 3% earn rate.
BMO CashBack® Mastercard®* Flytrippers Valuation
of Welcome bonus (net value)		 ends October 31st

via BMO secure application link
$ 125ⓘ

Rewards: $125

Card fee: $0
Card eligibility
minimum income required: $15k

Welcome bonus eligibility
must not have had
this specific card
ever before 		Cash back (more simple)
Bonus: 5% cash back
(bonus rate replaces regular earn rate)

• $125 as simple
cash back
 
  		How to unlock bonus
(categories)

Interest rates:
Purchases: 21.99%
Cash advances: 23.99% (QC: 21.99%)
Balance transfers: 23.99% (QC: 21.99%)
Terms and conditions apply. Flytrippers editorial opinion only. BMO is not responsible for maintaining the content on this site. Please click "Apply Now" to see most up-to-date information.

Summary of Flytrippers' review

WHY GET THIS CARD

  • Welcome bonus of $125
  • Rewards of the more simple type that can be used for anything (not just travel)
  • 3% earn rate in grocery stores (including gift cards)
  • No-fee card

WHO SHOULD GET THIS CARD

  • Those who want rewards that are more simple but have a lower value
  • Those who can reach a minimum spend of $2,500 in 3 months in specific categories
  • Students who want a card with no annual fee and a welcome bonus.
  • Those who want a no-fee card (even though the total net value is what you should always look at)

How to learn more

All card details

Offer structure (3 separate bonuses)

  • 5% cash back Special earn rate on $500 spent in the first 3 months on grocery
  • 5% cash back Special earn rate on $500 spent in the first 3 months on recurring bill payments
  • 5% cash back Special earn rate on $1,500 spent in the first 3 months on all other purchases

$125 Total with the 3 parts of the bonus

‣ Apply for the BMO CashBack Mastercard

Total rewards by unlocking the welcome bonus

  • $125 Welcome bonus (3 parts)
  • $0 Earn on the minimum spend (bonus earn rate is instead of the regular earn rate, not in addition to the regular earn rate)

$125 Welcome bonus + Earn on the minimum spending requirement to unlock it

‣ Apply for the BMO CashBack Mastercard

Net value

  • $125 Welcome bonus
  • –$0 Card fee

$125 Total net value by unlocking the welcome bonus alone

‣ Details about our Flytrippers Valuation of welcome bonuses

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Effective return rate

5.0% Return on the minimum spending requirement of $2,500 in 12 months

‣ Details about effective return rates (coming soon)

━

Rewards acquisition summary

$125 Rewards you get for $0 in fees paid

‣ Apply for the BMO CashBack Mastercard

Value of redemption options (welcome bonus)

For each available redemption option, here is the value of the $125 in BMO cash back you get by unlocking the welcome bonus:

  • $125 Cash back

‣ Details about using BMO cash back (coming soon)

Redemptions for cash back

The more simple type of rewards redemption, with a fixed value. It is worth less but gives you more flexibility. BMO cash back is really as simple as rewards can be, as you can use it to simply erase any charge on your card.

Redeem your $125 in BMO cash back for:

  • $10 Discount of $10 on your card statement
  • $100 Discount of $100 on your card statement
  • $125 Discount of $125 on your card statement

‣ Details about using BMO cash back (coming soon)

Balance transfer promotion (limited time)
Get a welcome interest rate of 0.99% on balance transfers for 9 months, with a 2% transfer fee (only recommended for those who currently have unpaid balances on other cards).

‣More details on balance transfer promotions (coming soon)

━

Monthly Instacart credit (and 3 months of Instacart+)
You get a $5 monthly Instacart credit and 3 months of the Instacart+ premium plan by enrolling your card.

‣ Details about the BMO Instacart benefit (coming soon)

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Discount on rental cars
Get a variable discount by using a special promo code (CID) at select National Car Rental (3717122) and Alamo Rent A Car (7014883) locations.

‣More details on the BMO rental car benefit (coming soon)

Insurance included

  • Extended warranty
  • Purchase insurance

‣ Details about the insurance coverage included with the card (coming soon)

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Insurance not included (among the main types)

  • Medical travel insurance
  • Trip cancellation insurance
  • Trip interruption insurance
  • Flight delay insurance
  • Baggage delay insurance
  • Lost or stolen luggage insurance
  • Hotel burglary insurance
  • Rental car insurance
  • Travel accident insurance
  • Mobile device insurance

‣ Details about the different types of insurance coverage (coming soon)

Earn rates

3% cash back per $:

  • Groceries

1% cash back per $:

  • Recurring bill payments

0.5% cash back per $:

  • All other purchases

‣ Details about credit card earn rates (coming soon)

Pooling (with additional cards)
You can pool BMO cash back with additional cards (“joint” cards) added to this account. Additional cards have no fee.

‣ Details about pooling rewards with additional cards (coming soon)

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Pooling (with separate cards that earn BMO cash back)
You cannot pool cash back across your separate cards that earn BMO cash back. But the rewards are so easy to redeem that you don’t need to pool them either.

‣ Details about pooling rewards from separate cards (coming soon)

━

Pooling (with travel companions)
You cannot pool cash back with travel companions. But the rewards are so easy to redeem that you don’t need to pool them either.

‣ Details about pooling rewards with travel companions (coming soon)

Expiration (if you have the card)
BMO cash back never expires as long as you have the BMO CashBack Mastercard!

‣ Details about BMO cash back expiration (coming soon)

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Expiration (if you don’t have the card)
You have 1 option to easily keep your BMO cash back from expiring even without the card:

  • Redeem cash back easily before closing the card

‣ Details about reward expiration policies (coming soon)

How to get started

‣ Details about the steps to follow when applying for a new card in Flytrippers’ free checklist

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How to use/manage rewards

  • Create a BMO online account in a few clicks
  • Use/manage your BMO cash back on the BMO website

‣ Learn more about how to use/manage BMO cash back (coming soon)

Card eligibility

  • Minimum income: $0
  • Age: Majority in your province
  • Estimated credit score: Good OR Excellent
  • Credit bureau: Equifax Canada

‣ Details about credit card eligibility requirements (coming soon)

━

Welcome bonus eligibility
You must not have activated or closed the BMO CashBack Mastercard in the past 12 months

‣ Details about credit card welcome bonus eligibility rules (coming soon)

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Offer end date
Offer ends October 31, 2026

‣ Sign up for Flytrippers’ free newsletter about travel rewards to get all updates and news

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Summary of card details

  • Issuer: BMO Bank of Montreal
  • Network: Mastercard
  • Card type: Credit card
  • Product type: Personal card
  • Rewards: BMO cash back
  • Rewards class: Bank rewards

‣ Details about credit card basics (coming soon)

Fees

  • Card fee: $0
  • Fee for optional additional card: $0
  • Foreign transaction fee: 2.5%

‣ Details on why Flytrippers recommends savvy travelers choose cards with annual fees (coming soon)

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Annual interest rates

  • Purchases: 21.99%
  • Funds advances: 23.99% (21.99% for Québec residents)

‣ Details about what Flytrippers recommends regarding interest rates (coming soon)

  • Welcome offer: Get 5% cash back in your first 3 months

  • Get a 0.99% introductory interest rate on Balance Transfers for 9 months, 2% fee applies to balance amounts transferred

  • Then get 3% cash back on grocery purchases, 1% cash back on recurring bill payments and 0.5% unlimited cash back on all other purchases!

  • No Annual Fee Credit Card

  • Enjoy the most cash back on groceries in Canada without paying an annual fee.

Start earning rewards today

And make sure to download our free checklist for when you get a new card—it includes very important mistakes to avoid
(it will open in a separate tab, or you can click here)

APPLY NOW

via BMO secure application

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Terms & conditions — Travel rewards

†Terms and conditions apply.

This content is not sponsored. However, this page may contain some affiliate links that allow Flytrippers to earn a commission at absolutely no cost to you. Thank you for using our links and helping us keep all our content free for everyone. This helps us fulfill our mission of helping Canadians travel more for less.

The views and opinions expressed on this page are purely our own. They have not been provided, approved, endorsed, or ratified by any third party mentioned on the site.

Financial institutions are not responsible for updating or ensuring the accuracy of the information on Flytrippers’ website. All the information was independently collected by Flytrippers and not provided by financial institutions.

All offers described on the Flytrippers website are subject to the financial institutions’ latest terms and conditions, which can be found on their official website. No efforts are spared to ensure this page is up to date but offers from financial institutions change quickly. It is your responsibility to ensure the accuracy of these offers on their website. Flytrippers will not accept any responsibility for the accuracy of the offers or the result of your actions.

Flytrippers’ website does not contain all available credit card offers or all available credit card products on the market. In addition, Flytrippers never shares an offer if it is not considered advantageous for some travelers, at its sole discretion.

No author on Flytrippers’ website is a financial advisor, a financial planner, a legal professional, or a tax professional. No author on Flytrippers’ website can in any way be considered as such.

All articles, pages, and content on Flytrippers’ website are merely personal opinions of a general nature and are for informational purposes only and should not be considered advice for specific situations. It is your responsibility to perform your own personal research to ensure that travel rewards are appropriate for your own situation.

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