🛒 BMO CashBack® Mastercard for Students – Review (2025)

If you’re a student in Canada, you already know how every dollar counts. Between groceries, textbooks, rent, and maybe the occasional night out, your budget can disappear in the blink of an eye. The BMO CashBack® Mastercard for Students is one of the few cards that actually helps ease that pain.

I’ll be honest: if I could go back to my student days, this is probably the card I would have started with. It’s simple, no annual fee, and it rewards you for the one thing all students spend money on — food. Let’s dive in.

💡 Why this card matters for students

• 3% cashback on groceries – and yes, that includes your regular runs to Metro, Sobeys, or even Walmart.

• 1% cashback on recurring bills – like Spotify, Netflix, or your phone plan.

• 0.5% on everything else – not amazing, but hey, better than nothing.

• No annual fee – so you’re not paying for the privilege of having it.

This isn’t a flashy travel card. It’s a “keep more money in your pocket today” card. For a student, that’s way more valuable.

🥇 Key Features

• Annual Fee: $0

• Income Requirement: None (student-friendly)

• Welcome Offer: Often comes with extra cashback for the first few months

• Network: Mastercard (accepted everywhere)

• Mobile App: Works seamlessly with BMO Online Banking and mobile app

✅ Who is this card best for?

This card is made for students who:

• Buy their own groceries (or at least share the responsibility).

• Want simple, easy-to-understand rewards.

• Don’t want to deal with annual fees or complicated points systems.

If you’re the type who’s always in the grocery aisle debating which pasta brand is cheapest (been there 🙋‍♂️), this card gives you something back on that everyday spend.

⚖️ Pros & Cons

🧑‍🎓 My Honest Take

I like this card because it doesn’t overpromise. It’s not about “luxury travel points” or some complicated redemption program you’ll never use in university. It’s about cashback where you spend the most.

For me personally, groceries were my biggest expense outside of rent. Getting 3% back would have meant free meals a few times a year. That’s real, tangible value when you’re living on a tight budget.

The 0.5% everywhere else feels weak — but that’s fine. You’re not getting this card for general spending; you’re getting it because it nails one important category that matters to students.

🚨 A Few Things to Keep in Mind

• Always pay your balance in full. Carrying a balance at 20%+ interest wipes out all those cashback rewards instantly.

• Use it for bills and groceries consistently — that’s where the rewards add up.

• Don’t worry about maximizing categories. This isn’t a “strategize every dollar” card — it’s simple, and that’s its strength.

🔄 How It Stacks Up vs. Other Student Cards

🥊 BMO Student CashBack vs. CIBC Dividend® Visa for Students

• BMO wins with 3% on groceries vs. CIBC’s 2%.

• CIBC is easier to get approved for, especially if you’ve never had credit before.

• If groceries are your main spend, BMO is better. If approval is your main worry, CIBC is the safer pick.

🥊 BMO Student CashBack vs. Scotiabank Scene+ Visa for Students

• BMO = cash savings, Scotiabank = lifestyle perks.

• If you’d rather have free Cineplex tickets and dining rewards, go Scotiabank.

• If you’d rather see money go right back into your pocket, stick with BMO.

🥊 BMO Student CashBack vs. TD Rewards Visa for Students

• TD offers points flexibility (Amazon, travel, gift cards).

• BMO is simpler and more immediate (straight cashback).

• If you hate math and just want easy rewards → BMO. If you like the idea of travel rewards later → TD.

✅ Final Verdict

The BMO CashBack® Mastercard for Students is one of the best starter cards in Canada for students who buy their own groceries. The 3% cashback on groceries makes it a standout, and the fact that it’s fee-free and easy to get approved for makes it even better.

If you’re looking for your very first card, this one’s a no-brainer. It teaches you how to manage credit, gives you rewards on everyday essentials, and doesn’t cost you a cent in fees.

For students: I’d call this card practical, simple, and exactly what you need to start building credit while stretching your budget.