Independent ClearFin review · BMO
Start with up to 5% cash back in the first 3 months.
Current new-cardmember offer
Confirm with the issuer
🛒 Grocery CashbackIts strongest published earn rate in our data is 3.0% on groceries. With no annual fee, it can be easier to keep long term without needing rewards to offset a yearly cost.
Checked 2026-08-09 · Official issuer catalogueHow to earn it
Available to new BMO CashBack Mastercard cardholders who meet the offer requirements. Existing terms and exclusions apply as outlined by BMO.
Confirm final approval criteria and current rates directly with the issuer.
Applicants typically have the strongest approval odds with a good to very good credit profile.
ClearFin estimate on Canada's 300–900 scale. This is not an issuer cutoff or approval guarantee; lenders may use different bureau scores and underwriting criteria. This is an estimated approval range based on industry data and cardholder reports. BMO does not publish a minimum credit score requirement, and approval decisions consider additional factors such as income, credit history, existing debt, and payment history.
Reward limits: The card's accelerated cash back rates are subject to monthly spending caps. Purchases above the cap earn the base cash back rate.
Earning cap
Earning cap
Redemption values and availability may vary by option and can change.
Redeem earned cash rewards using the issuer's available cash-back or statement-credit options.
Minimum redemption amounts, automatic payout timing, and eligible account credits vary by issuer; confirm the current program terms before applying.
Consider these extras by the value they add to purchases and experiences you already use.
No Annual Fee
Pay no annual fee while still earning accelerated cash back on everyday spending categories.
Cash Back Flexibility
Redeem cash back at any time starting from as little as $1 as a statement credit, deposit to an eligible BMO account, or contribution to InvestorLine.
Cash Back Never Expires
Cash back rewards do not expire as long as the account remains open and in good standing.
Instacart+ Membership
Receive three complimentary months of Instacart+ membership when enrolled with an eligible BMO credit card.
Monthly Instacart Credit
Receive a $5 monthly Instacart credit after enrolling an eligible BMO credit card.
Extended Warranty Insurance
Doubles the original manufacturer's warranty period on eligible purchases for up to one additional year.
Purchase Security Insurance
Eligible items purchased with the card are protected against theft or damage for 90 days from the purchase date.
Zero Liability Protection
Protection against unauthorized transactions resulting from fraudulent use of the card.
Mastercard Identity Check
Additional authentication security when shopping online at participating merchants.
BMO Alerts
Customizable alerts for transactions, large purchases, international usage, and account activity.
Credit Coach Access
Free access to BMO Credit Coach for credit score monitoring with no impact on your credit score.
Card Management Tools
Lock or unlock your card, report it lost or stolen, and manage account security through BMO digital banking.
Car Rental Discounts
Access discounts on eligible car rentals through Mastercard benefits.
No included coverage is verified in ClearFin's current catalogue.
This does not prove that coverage is unavailable. Confirm the issuer's current certificate and benefit guide before relying on protection.
Check the official card page ↗What we like
Worth noting
A practical reading of where the card earns, what the fee buys, and which limits matter.
3% cashback on groceries. 1% on recurring bills. 0.5% on everything else. No annual fee.
Groceries receive the strongest estimated return at 3.0%. Purchases outside the accelerated categories earn an estimated 0.50%.
There is no annual fee to recover, which can make the card easier to keep for credit-history length or occasional use. Interest and other transaction fees can still apply.
This card is most relevant for someone who spends consistently on groceries and dining and prefers to avoid a yearly fee.
Compare the purchase interest rate, foreign-transaction fee, approval requirements, reward limits, and insurance certificates. Pay particular attention to merchant-category rules because a store may not receive the reward rate its products appear to suggest.
Issuer terms apply. ClearFin is not affiliated with this provider. How we make money. Card facts were checked against the issuer's official source. The issuer's current catalogue was checked. Any field not explicitly listed remains marked as unverified rather than estimated.
