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BMO is the 8th largest bank in North America by assets. One of the best products at the financial market, BMO Cash Back Credit Card will benefit you in several ways. Those are:

  • Annual Fee: This card comes with no annual fee.
  • Welcome Bonus: On spending $2000 within the first 3 months, you can earn a $200 cash reward as an opening bonus.
  • Cashback: you can earn a significant 5% cash back on streaming, cable TV and satellite services, 3% cash back on gas and groceries, and 1% on all other eligible purchases.
  • Cell Phone Coverage: You will get $400 as a cellphone damaged or stolen protection coverage on spending on your monthly telephone bills with this card.
  • Mastercard Priceless Experiences: Mastercard comes with an exclusive program to build loyal customers. Cardholders can book unique experiences, get discounts, hotel upgrades, and more.
  • Enjoy a Peaceful Ride: You will get a free Master RoadAssist Roadside Service. This Roadside Service includes jump-start, tire changes, towing, and gas delivery to make your ride worry-free.
  • Extended Warranty: This card will double the original U.S. manufacturer warranty for up to an additional 1 year.
  • Identity Theft Protection: This card ensures security protections such as theft protection, identity monitoring, and identity checks to keep you away from any unwanted incidents.
  • Easy Redeem Option: The cash reward you earned on this card can only be redeemed as a statement credit.

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Prerequisites

You must be at least 18 years old, it can vary state by state, and be a legal resident of the United States, to apply for this card. There is no specific credit score requirement mentioned on their website, but having a FICO score of 670 or higher will increase the chances of getting approved.

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Also, you may need to provide a proof of income to prove that you can pay the monthly balances. Documentation such as your Social Security Number (SSN) can be required.

The BMO Cash Back Credit Card is not available for all residents. This card is available to the residents of some specific states such as New York, Arizona,  Florida, Alabama,  Hawaii, Alaska, Arkansas, Mississippi, California, Colorado,  Maryland, Connecticut, Delaware, District of Columbia, Georgia, Idaho, New Mexico, Illinois, Indiana, Lowa, Kansas, Kentucky, Louisiana, Maine, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, North California, North Dakota, Ohia, West Virginia, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Caroline, South Dakota, Wyoming, Tennessee, Texas, Utah, Vermont, Virginia, Washington, and Wisconsin.  

Who is this card for?

The highlighting benefits this card provides is on streaming services, cable TV, and satellite services. The cash reward rate for this category is the highest among others this card offers. This card comes with a good cash reward for spending on gas and groceries.

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So, for anyone who wants a card for everyday spending, this card can be a good option.

Step by step to apply for the card

Applying for a BMO Cash Back Credit Card is very simple. It takes no more than 5 minutes on average to complete this application. Visit their website and press the “Apply Now” button.

You will get an application form that requires your contact information, personal information such as social security number and total gross annual income.

This bank has a mobile app to enable digital banking services. The app is available on the Apple Store, Play Store, and BMO’s website as well.

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Pros and Cons of the card

BMO Cash Back Credit Card has several positive sides but like the other cards, some negative sides are there as well.

Pros

  • Highest rewards rate on streaming services, cable, and satellite TV
  • No annual fee
  • 0% introductory APR on balance transfers for the first 12 months
  • Cell Phone damaged or stolen protection

Cons

  • Cell Phone coverage limitation is two claims per year
  • Good to excellent credit score needed
  • Fewer options for cashback redemption

How to unlock the card?

Like the other cards, you can activate it online from their website or mobile app by logging in to your digital bank account or you can call 1-855-825-9237. You will be required your card number, expiration date, and security code to activate the card.

Fees and tariffs

BMO Cash Back Credit Card has zero annual fee. The annual percentage rate for purchase is 21.24% to 28.24% based on your creditworthiness and the market-based rate. APR for balance transfers is 0% for the first 12 months, but transfers have to be completed within the first 90 days from account opening. From the second year, the APR will be 21.24% to 28.24% based on your creditworthiness for balance transfers. APR for cash advances is 32.49%.

The minimum interest charge is no less than $1.00 but you can avoid the interest by paying the entire balance within the due date each month. Transaction fees for balance transfers are the greater amount between $10 or 4% and for cash advances, transaction fees are $10 or 5%. The foreign transaction fee is 3% of each transaction. Penalty fees for late and returned payments up to $39.

Customer Service

For assistance related to credit cards, BMO has 24/7 customer service at 1-855-825-9237. For general queries, call them at 1-888-340-2265 from 7 a.m. to 11 p.m. on Monday to Friday and for Saturdays and Sundays, customer service will be available from 8 a.m. to 10 p.m.

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