One of the most common uses of a credit card is to use it to pay for groceries. If you’re already spending a ton of money on groceries, you might as well get a credit card that rewards you for doing so.
This is why the BMO Cashback Mastercard is a very popular rewards credit card in Canada. You get cash back rewards every time you use the card for groceries and many other purchases.
BMO Master cards are always the perfect cards for any situation. Learn more about the BMO Cashback Mastercard and how to apply below.
BMO Cashback Mastercard Overview
Every BMO Mastercard has its own set of features, perks, rewards, and benefits.
With the BMO Cashback Mastercard, you are entitled to some of the best rewards programs in this category.
Check out what you can expect with this credit card below.
How You Can Earn Rewards
When you have the BMO Cashback Mastercard, you get to earn 3% cash back on all eligible grocery purchases.
It is one of the highest cash-back rates for groceries in Canada. You also get 1% cash back when you use the credit card to pay your bills.
Additionally, cardholders can expect to receive a 0.5% cash back on all other purchases made by the card.
Redeeming Your Rewards
The BMO Cashback Mastercard offers a myriad of ways for you to redeem your hard-earned rewards.
You can use all of your cash-back rewards as statement credit to help you pay off your bill.
You can also redeem it and directly deposit it into your bank account. Lastly, you can redeem all of your cash-back rewards and use them to create an investment fund.
Get Your Welcome Bonus
New cardholders can also expect a very robust welcome offer. You can get up to 5% cash back in your first 3 months of using the card.
Make as many purchases as you can during this period to fully take advantage of the highest cash-back rate in Canada.
You also receive a $50 cash-back bonus when you spend more than $6,000 in your first year.
Other Perks
The BMO Cashback Mastercard offers even more perks to its cardholders. You can receive a discount on different car rentals as well as 15% off on Cirque du Soleil shows in Canada.
Supplementary cards are also free of charge when you have this credit card.
Additionally, all purchases made through this card will have purchase protection and warranty extensions.
Interest Rates and Other Charges
If you’re planning on applying for the BMO Cashback Mastercard, you should also know the corresponding interest rate and other charges.
The card has a 20.99% interest rate on purchases, 22.99% on cash advances, and 22.99% on balance transfers.
Additionally, you do not have to pay any annual fee or any extra card fee for additional cards to your account.
BMO Cashback Mastercard Promotional Rates
BMO Master cards often have promotional rates, and the BMO Cashback Mastercard is no exception.
The card offers a promotional rate of 0.99% on balance transfers for the first 9 months of opening the account.
If you’re planning on transferring balances for the first few months, make sure that you avail of this card to help you save more from the fees.
Do You Qualify for the BMO Cashback Mastercard?
Applicants who are interested in applying for the BMO Cashback Mastercard should know first if they are qualified to get the card.
Learning the qualifications will help make the application process move smoothly, and you will get approved much faster.
You only need to be a Canadian resident and must be the age of majority in your area. You must have a personal income of $15,000 and an estimated credit score of 660 to 724.
This is crucial if you plan on having a better interest rate than many other cardholders.
Contact Info
For more information about the BMO Cashback Mastercard, you can contact them through the number 1-800-263-2263. A representative will be with you shortly after dialing the number.
They will be able to answer your inquiries and provide you with more details, especially with your application. You can also call them for updates on your application status.
You can also visit their main office located at 119, rue Saint Jacques (119, Saint Jacques Street) in Montreal, Quebec, Canada.
Steps to Apply for BMO Master Cards Online
Applying for BMO Master cards can be done online.
Applying through their official website is more convenient and makes the entire process much faster.
You don’t need to go to any BMO branch for your application. Check out the steps to apply for BMO Master cards online.
Step 1
Head over to the official BMO website and click on Credit Cards.
Look for BMO Cashback Mastercard and click on the name.
It will open a new page where you can see all the details.
Step 2
Read all of the features, benefits, rewards, and perks of the credit card.
Step 3
Once you’ve decided to apply for the card, all you need to do next is click on Apply Now.
You will be prompted to log in to your account.
If you don’t have one, make sure to register an account and proceed to the application process.
Step 4
You are then asked to fill out the online application form.
This will include your details such as your name, age, birth date, address, and many more.
Step 5
The site will also require you to submit IDs, documents, and other related information regarding your income.
Always keep a digital copy of all of these documents, as you might be asked to resubmit them later on for clarification.
Step 6
Review the entire application form. Read the terms and conditions thoroughly before you submit.
Once you’ve checked everything, click on Submit.
Step 7
It usually just takes a few minutes before they can provide you with an update.
If you’re not able to receive one, you can dial the number provided above to ask for an update.
You can also check your email for any notifications.
Step 8
Once approved, you should receive another email regarding the delivery of your card.
It should arrive within a few business days. You will then need to activate it before you can use it.
Conclusion
The BMO Cashback Mastercard is an ideal credit card for those who do not want to pay an annual fee for a credit card. This Mastercard credit card is meant for people who spend a ton on their groceries and other purchases. With its generous cash-back rewards program, you will surely enjoy having this card inside your wallet every time you go for a grocery run.
Note: There are risks involved when applying for and using credit. Consult the bank’s terms and conditions page for more information.
