Independent ClearFin review · BMO
Start with 5% cash back in your first 3 months, worth about $100.
Current new-cardmember offer
Confirm with the issuer
🎓 Student 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 for Students cardholders who meet the offer requirements. Terms and conditions apply.
Confirm final approval criteria and current rates directly with the issuer.
The card is designed for students who are building or establishing credit for the first time. Applicants with limited or no credit history may still be eligible if they meet BMO's student card requirements.
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, student card approval trends, and cardholder reports. BMO does not publish a minimum credit score requirement for the BMO CashBack Mastercard for Students. Approval decisions also consider factors such as student status, income, credit history, existing debt, and overall credit profile.
Reward limits: The card's accelerated cash back categories are subject to monthly spending caps. Eligible grocery purchases earn 3% cash back and eligible recurring bill payments earn 1% cash back up to the published spending limits. Purchases above the category caps earn the base 0.5% 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
Students can build credit and earn cash back without paying an annual fee.
Extended Warranty Insurance
Doubles the original manufacturer's warranty period on eligible purchases for up to one additional year when the full purchase price is charged to the card.
Purchase Security Insurance
Eligible purchases made with the card are protected against theft, loss, or accidental damage for 90 days from the purchase date.
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 your eligible card.
Flexible Cash Back Redemption
Redeem cash back whenever you want with no minimum redemption threshold.
Multiple Redemption Options
Cash back can be deposited into eligible BMO chequing, savings, or InvestorLine accounts, or redeemed as a statement credit.
BMO PaySmart Installment Plans
Convert eligible purchases into smaller monthly payments through BMO PaySmart installment plans.
Zero Liability Protection
Protection against unauthorized transactions resulting from fraudulent use of the card.
Mastercard Identity Check
Additional online shopping security through Mastercard's authentication and fraud prevention technology.
BMO Alerts
Receive customizable alerts for purchases, large transactions, international usage, and account activity.
Car Rental Discounts
Receive up to 30% off eligible Avis rentals and discounts on participating car rental bookings.
Credit Building Opportunity
Designed specifically for students looking to establish and build a positive credit history while earning cash back rewards.
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, no minimum income.
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.
