Discover the Process to Apply for BMO Cashback Mastercard

The BMO Cashback card is specifically tailored for those looking to earn cashback effortlessly and securely on their spending. It's definitely worth a look!

What should I know before applying?

The BMO Cashback Mastercard provides new users with up to 5% cashback bonuses for the first 3 months of use.

BMO is a well-known bank across North America, catering to clients in both the U.S. and Canada, renowned for its quality service and professionalism.

The bank offers a comprehensive range of financial services, including account management and a variety of credit card options.

Among its standout products is the BMO Cashback Mastercard, celebrated for its rewarding cashback system and absence of an annual fee. The credit limit is adaptable based on the applicant’s financial status.

This card features an introductory offer with two key perks: 5% cashback on every purchase for the first 3 months and a low balance transfer rate of 0.99% for the initial 9 months.

After the promotional period, a 2% transfer fee is applicable, along with a 20.99% standard purchase rate.

As for cashback rewards, the card provides 3% cashback on grocery purchases, perfect for daily food expenses; 1% cashback on regular bills like subscriptions and utilities; and 0.5% cashback on all other transactions.

You can redeem cashback anytime without any expiration, as long as your account is active.

Redemptions begin at $1 and can be used as a statement credit, deposited into a checking or savings account, or transferred to an InvestorLine account.

For more information about this card, keep reading.

Who is Eligible to Apply?

Learn everything about the BMO! Photo by Freepik.

The BMO Cashback card adheres to standard market practices with clear eligibility requirements for applicants.

To be eligible, you must meet the legal age requirement in your province or territory, which is between 18 to 19 years depending on your location.

Moreover, you should not have filed for bankruptcy in the past seven years.

BMO generally looks for applicants with a solid credit score, usually ranging from 600 to 700. Unlike certain other credit cards, there’s no monthly income minimum required. However, your approval will depend on the bank’s assessment of your unique situation.

How Can I Apply for the BMO Cashback Mastercard?

To begin the application, click the ‘Apply Now’ button, which directs you to the application form. Initially, you’ll need to specify if you have a BMO debit card.

If not, you’ll be prompted to confirm if you have a Canadian address.

Then, you’ll need to provide the following information:

Full name (last name optional) and date of birth
Email and phone number
Address, housing status, and monthly payment
Income and banking details

Once your application is submitted, BMO will carefully examine your profile and respond quickly.

If you have questions, don’t hesitate to reach out to BMO directly.

Additional Information

This card allows you to seamlessly manage your finances through the app, where you can lock or unlock your card and report any issues that may come up.

You can also keep an eye on your credit score via CreditView, which gives you a comprehensive look at all your transactions.

Regarding security, you benefit from zero liability against unauthorized transactions, alerts from BMO, and Mastercard Identity Check, ensuring your online purchases are secure.

Other advantages include a complimentary supplementary cardholder, extended warranty options, and various discount levels up to 20% for National Car Rental, 20% off Cirque du Soleil shows, and up to 7% off prepaid hotel bookings via Booking.com.

You can also utilize the BMO PaySmart installment option.

This credit card is a fantastic pick for those aiming to establish their credit and boost their score gradually. It’s also perfect for regular expenses, especially for anyone seeking an affordable card.