Daniela Hanna
The BMO CashBack® Mastercard® is a no-fee everyday card offering simple, automatic rewards. Earn 3% cash back on groceries, 1% on recurring bill payments, and 0.5% on all other purchases — all with no annual fee and flexible redemption options directly into your BMO account.
Quick highlights
- 💸 No annual fee for primary and secondary cardholders.
- 🛒 3% cash back on groceries, 1% on recurring bills, 0.5% on everything else.
- 💰 Redeem cash back anytime into your BMO chequing, savings, or statement credit.
- 🔐 Includes BMO’s Purchase Protection and Extended Warranty.
Why we like the BMO CashBack® Mastercard®
This no-fee card makes earning cash back on everyday spending simple and automatic. With 3% back on groceries — one of the highest grocery earn rates in Canada for a no-fee card — it’s a perfect fit for families and students who want rewards without complexity. Plus, cash back can be redeemed anytime, giving it an edge over rigid rewards programs.
Stand-out features
- ✅ 3% cash back on groceries — no rotating categories or spending hoops.
- ✅ 1% on recurring bill payments (like phone, internet, and subscriptions).
- ✅ 0.5% unlimited cash back on all other purchases.
- ✅ Redeem anytime into your BMO chequing, savings, or statement credit.
Good to know
- ⚠️ The 3% grocery earn rate is capped at $500 per statement cycle (then 0.5%).
- ⚠️ No travel insurance or premium perks — it’s a pure cash-back card.
- ⚠️ A BMO account makes redemptions smoother, but it’s not required.
Pros
- No annual fee — ideal for any budget.
- Top-tier 3% grocery earn rate for a no-fee card.
- Automatic redemption options to your BMO account or statement credit.
- Includes Purchase Protection and Extended Warranty.
- Easy approval and solid for first-time credit card users.
Cons
- 3% rate capped at $500 monthly in grocery spend.
- No bonus for gas, dining, or travel purchases.
- No travel insurance coverage.
Rewards program
- 🛒 3% cash back on groceries (up to $500 per billing cycle).
- 💡 1% on recurring bill payments (e.g., mobile, internet, subscriptions).
- 💵 0.5% on all other eligible purchases — no caps.
How to maximize rewards
- 🛒 Use the card for all grocery store purchases to hit the 3% cap monthly.
- 💸 Set up automatic payments for bills like Netflix, phone, or insurance to earn 1% passively.
- 🎯 Redeem cash back regularly to keep your rewards compounding.
- 💳 Pair with a travel or gas card (like Neo or BMO eclipse Visa) for broader coverage.
- 📆 Pay balances in full each month to keep cash back pure profit.
Insurance & benefits
Included
- 🛍️ Purchase Protection — covers eligible items from theft or damage for 90 days from purchase.
- 🕒 Extended Warranty — doubles the manufacturer’s warranty up to one additional year.
- 💳 Zero Liability Protection — you’re not responsible for unauthorized transactions.
- 🌍 24/7 Fraud Monitoring — BMO’s system helps detect and prevent unusual activity.
Not included
- ❌ No travel insurance or trip interruption coverage.
- ❌ No car rental collision damage waiver.
- ❌ No mobile device protection or extended travel perks.
Rates & fees
| Annual fee | $0 |
|---|---|
| Purchase APR | 20.99% |
| Cash advance APR | 22.99% (21.99% in Quebec) |
| Balance transfer APR | 22.99% |
| Foreign transaction fee | 2.5% |
| Grace period | 21 days on new purchases |
Best for
- 🛍️ Grocery shoppers who want top-tier earn rates with no annual fee.
- 📱 Canadians paying recurring bills who want simple cash-back automation.
- 💸 Budget-conscious families and students managing everyday spending.
- 🏦 Existing BMO clients who want easy redemption into their BMO account.
Where it falls short
- Grocery category capped at $500 monthly (then 0.5% back).
- No travel coverage or additional perks beyond insurance basics.
- No bonus rates on gas, restaurants, or entertainment spending.
- Foreign purchases incur a 2.5% fee.
Customer reviews
Positive feedback
“Love the automatic cash back. Groceries add up fast and I never have to think about redeeming.”
“No annual fee and easy approval. Great starter card for building credit.”
Critiques
“Would be better if the 3% grocery limit was higher.”
“No travel perks, but that’s fine for a basic card.”
Community insights
Among Canadian cardholders, the BMO CashBack® Mastercard® is considered one of the best no-fee grocery cards. It’s praised for its simplicity and reliability, especially for those who want to earn without juggling categories or fees. For travel or gas rewards, most users pair it with another card like Neo or BMO eclipse Visa.
AI review (straight talk)
If you just want solid cash back without thinking, this card delivers. The 3% grocery earn rate, 1% on bills, and zero annual fee make it a top contender for everyday Canadians. There’s no travel insurance or fancy extras, but that’s the beauty — it’s simple, automatic, and pays you back every month.
Alternatives & comparison
| Card | Annual Fee | Groceries | Other Purchases | Key Perks | Best For |
|---|---|---|---|---|---|
| BMO CashBack® Mastercard® | $0 | 3% | 0.5% | Flexible redemption, Purchase Protection | Groceries & bills |
| Tangerine Money-Back Mastercard® | $0 | 2% (custom category) | 0.5% | Custom categories, no cap | Flexible rewards |
| Neo Mastercard® | $0 | Up to 5% (at partners) | 0.5% | Partner network, app-based rewards | Mobile shoppers |
| Rogers Mastercard® | $0 | 1.5% | 1.5% | Cash back in USD, travel-friendly | Frequent travellers |
FAQ
Is there an annual fee?
No, the BMO CashBack® Mastercard® is completely free to keep.
How much cash back can I earn on groceries?
You earn 3% on groceries up to $500 per billing cycle, then 0.5% afterward.
How do I redeem my rewards?
Redeem anytime for as little as $1 into your BMO chequing, savings, or as a statement credit.
Does it include travel insurance?
No, this is a pure cash-back card with Purchase Protection and Extended Warranty only.
Final verdict & ratings
Our take The BMO CashBack® Mastercard® is a top pick among no-fee cards in Canada. Its 3% grocery earn rate, simple redemption, and solid insurance coverage make it perfect for everyday spending. No fluff, no fees — just reliable cash back for daily life.
| Overall | ★★★★☆ 4.4 / 5 |
|---|---|
| Rewards value | 4.5 / 5 — great grocery earn rate |
| Benefits & protections | 3.6 / 5 — solid but basic coverage |
| Fees & costs | 5.0 / 5 — no annual fee |
| Ease of approval | 4.5 / 5 — easy for most Canadians |
