BMO CashBack Mastercard

Interested in this credit card? Earn $50 in FlyerFunds by applying through Frugal Flyer.

The BMO CashBack Mastercard earns 3% cash back on grocery purchases, on up to $500 in spend per statement period.

Rewards Rates

The BMO CashBack Mastercard earns cash back for all purchases made on the card:

  • 3% cash back on all grocery purchases, up to $500 per statement period.
  • 1% cash back on all recurring bill payments, up to $500 per statement period.
  • 0.5% cash back on all other purchases.

Once the cardholder reaches $500 in spending in the accelerated cashback category during a statement period, all remaining purchases in that category will earn 0.5% cash back until the next statement.

Redeeming Cash Back

BMO CashBack Mastercard cardholders can redeem their earned cash back as long as the cash back earned balance is greater than $1, or you can set up automatic recurring redemptions which will trigger at the end of the billing cycle if the balance is over $25. Cashback deposits take 2-5 business days following the request or billing cycle.

The cash back balance can be redeemed in one of three ways: 

  • Used as a statement credit on your monthly bill
  • Deposited into a BMO chequing or savings account
  • Deposited into your InvestorLine account

Benefits

Up To 7₵/L Discount on Fuel at Shell

Cardholders who link their BMO CashBack Mastercard with their AIR MILES collector number will receive a $0.02 per litre discount on regular fuel (Shell Bronze and Shell Silver) and a $0.07 per litre discount on premium fuel (Shell V-Power NiTRO+ or Shell V-Power NiTRO+ 91 or Shell VPower NiTRO+ 93) purchased at Shell gas stations. This discount is available up to a maximum of 1,000 litres per month.

Rental Car Discounts

Cardholders can save up to 20% on National Car Rental and Alamo Rent A Car and up to 5% on Enterprise Rent-A-Car at locations worldwide using the Car Rental Booking tool.

Insurance Coverage

The BMO CashBack Mastercard offers two types of insurance coverage:

  • Purchase security: Coverage for accidental physical damage or theft for 90 days from the date of purchase
  • Extended warranty insurance: Extend the manufacturer’s original warranty up to one additional year

Refer to the BMO Cashback Mastercard insurance certificate for additional details, including terms and conditions for eligibility.

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