BMO Cashback MasterCard Credit Card Review

The BMO Cashback MasterCard Credit Card issued by the Bank of Montreal is a credit card designed for Canadians who want to earn cashback rewards on their purchases. With features such as cashback on groceries, recurring payments, a promotional cashback rate for the first three months, and a low annual fee, this credit card aims to provide value for money.

Benefits of BMO Cashback MasterCard Credit Card

3% Cashback on Groceries

The BMO Cashback MasterCard Credit Card offers a competitive 3% cashback on grocery purchases. This feature is attractive for individuals who want to maximize savings on essential expenses like groceries. The cashback on groceries provides tangible financial benefits for cardholders.

1% Cashback on Recurring Payments

Cardholders can enjoy 1% cashback on all recurring payments made using the BMO Cashback MasterCard Credit Card. This includes payments for rent, utilities, and other regular expenses. The cashback on recurring payments enhances the overall rewards potential for cardholders.

5% Cashback for the First Three Months

As a promotional offer, the credit card provides a substantial 5% cashback on gas, groceries, drug store purchases, and restaurant spending for the first three months. This introductory bonus allows cardholders to earn higher cashback rates during the initial period of card usage.

Low APR and Free Subscription to Apple Music

The BMO Cashback MasterCard Credit Card offers a low annual percentage rate (APR), making it an appealing option for individuals looking for cost-effective credit. Additionally, cardholders can benefit from a free subscription to Apple Music, providing an extra perk for music enthusiasts.

Zero Liability Fraud Protection by MasterCard

Cardholders are provided with the benefit of zero liability fraud protection by MasterCard. This feature ensures that the cardholder is not held responsible for unauthorized transactions, enhancing the security of card usage. Zero liability fraud protection is a valuable benefit in safeguarding against potential fraud.

Low Credit Score and Annual Income Requirement

The credit card is accessible to individuals with a lower credit score, making it inclusive for a broader range of consumers. Additionally, the requirement for a steady source of income is reasonable, allowing individuals with various income levels to apply.

Credit Card BMO Cashback MasterCard Application Requirements

Before applying for the BMO Cashback MasterCard, make sure you meet the following requirements:

  1. Age: You must be at least 18 years old to apply.
  2. Income: Ensure you have a stable income source.
  3. Credit Score: A good credit score is preferable for a higher chance of approval.
  4. Residency: You should be a resident of the United States.
  5. Identification: Have valid government-issued identification.

How to Apply for the BMO Cashback MasterCard

Follow these simple steps to apply for the BMO Cashback MasterCard:

  1. Visit the Official Website: Go to the BMO website and navigate to the Credit Card section.
  2. Select BMO Cashback MasterCard: Choose the Cashback MasterCard from the list of available credit cards.
  3. Check Eligibility: Confirm that you meet the eligibility criteria for the card.
  4. Fill Out the Application Form: Complete the online application form with accurate personal and financial information.
  5. Submit Supporting Documents: Upload any required documents, such as proof of income or identification.
  6. Review the Terms and Conditions: Thoroughly read the terms and conditions of the card to understand the benefits, fees, and repayment terms.
  7. Submit Your Application: Click the submit button to send your application for review.
  8. Wait for Approval: BMO will review your application, and if approved, you’ll receive your new card by mail.