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BMO

BMO CashBack Mastercard for Students

Start with 5% cash back in your first 3 months, worth about $100.

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Annual fee
$0
Reward type
Cash Back
Typical credit · 300+
BMO CashBack Mastercard for Students🎓 Student Cashback

Welcome bonus

New cardmembers can earn 5% cash back in your first 3 months, worth roughly $100, by completing the steps below.

How to earn it

  • 5% cash back on all purchasesEarn 5% cash back on eligible purchases during the first 3 months from account opening, up to the promotional spending limit specified by BMO.

Available to new BMO CashBack Mastercard for Students cardholders who meet the offer requirements. Terms and conditions apply.

How you earn

  • 5% cash back on all purchases during the first 3 months as part of the welcome offer
  • 3% cash back on eligible grocery purchases
  • 1% cash back on eligible recurring bill payments such as mobile phone bills, streaming services, and subscriptions
  • 0.5% cash back on all other eligible purchases
  • Redeem cash back at any time with no minimum redemption threshold
  • Deposit cash back into an eligible BMO chequing account, savings account, InvestorLine account, or redeem as a statement credit

Built-in perks & coverage

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.

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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.

The verdict

What we like

  • No annual fee
  • Strong cash back on grocery purchases
  • Flexible cash back redemption options
  • Student-friendly approval requirements
  • Instacart membership and monthly credits
  • Purchase security and extended warranty coverage

Worth noting

  • Low base earn rate on non-category spending
  • Limited insurance coverage
  • No included travel insurance
  • Foreign transaction fees apply
  • Cash back categories have spending caps
  • Few premium cardholder benefits

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