The Student BMO CashBack Mastercard is a great option for students looking to build credit while earning rewards.
Cardholders enjoy 3% cash back on groceries, 1% on subscriptions and bills, and 0.5% on other purchases.
If earning cash back while building credit sounds good, visiting the official website and applying could be a great idea.
How Does the Student BMO CashBack Mastercard Work?
This card rewards students for their everyday spending. Grocery purchases earn 3% cash back, helping students save on essential expenses.
Recurring bill payments, like phone plans or streaming services, qualify for 1% cash back. Every monthly subscription turns into rewards.
All other purchases receive 0.5% cash back, ensuring that every dollar spent contributes to earnings. The card offers flexible redemption options.
All about the Student BMO CashBack Mastercard Card
The Student BMO CashBack Mastercard is a credit card designed for students, offering cash back on everyday purchases. It has no annual fee, making it an affordable option for young adults.
This card provides 3% cash back on groceries, 1% on recurring bills, and 0.5% on all other purchases. Students can earn rewards while managing their daily expenses.
Keep reading to learn how this card works, its advantages, and how to apply for it to start enjoying its benefits.
Advantages of the Student BMO CashBack Mastercard
No Annual Fee
Students can enjoy the benefits of this card without paying any yearly fees, making it a cost-effective financial tool.
5% Cash Back Welcome Offer
New cardholders receive 5% cash back on all purchases for the first three months, maximizing rewards early on.
3% Cash Back on Groceries
Earn 3% cash back on grocery purchases, helping students save money while stocking up on essentials.
1% Cash Back on Recurring Bills
Monthly expenses like streaming services and phone bills earn 1% cash back, adding value to routine payments.
0.5% Cash Back on Other Purchases
All other transactions still earn 0.5% cash back, ensuring continuous rewards on everyday spending.
Extended Warranty & Purchase Protection
Eligible purchases get extra protection, providing extended warranties and coverage against accidental damage.
Car Rental & Travel Discounts
Save up to 20% on National, Alamo, and Enterprise rentals, plus exclusive deals on hotel bookings.
Common Student Expenses Covered by Cash Back
Many everyday expenses qualify for cash back rewards. Below is a breakdown of common student purchases and the percentage earned.
| Expense Type | Cash Back Rate | Examples |
|---|---|---|
| Groceries | 3% | Supermarkets, campus stores |
| Streaming Services | 1% | Netflix, Spotify, Disney+ |
| Phone Bills | 1% | Verizon, T-Mobile, AT&T |
| Other Shopping | 0.5% | Amazon, clothing, restaurants |
Disclaimer: Cash back rates apply only to eligible purchases. Terms and conditions may vary based on merchant classifications.
How to Apply for the Student BMO CashBack Mastercard?
Applying for the Student BMO CashBack Mastercard is quick and easy. Follow these simple steps to get started.
- Visit the BMO Website: Open the BMO Credit Cards page and locate the application section.
- Complete the Form: Enter your personal details, including name and contact information.
- Verify Student Status: Upload proof of enrollment in a post-secondary institution.
- Enter Financial Info: Provide details about your income sources, such as part-time work or student loans.
- Submit for Approval: Review your details, accept the terms, and finalize your application.
Who is the Student BMO CashBack Mastercard For?
The Student BMO CashBack Mastercard is tailored for students seeking to build credit while earning rewards. Ideal candidates include:
- Full-Time and Part-Time Students: Whether you’re pursuing a degree or diploma, this card accommodates various academic commitments.
- International Students: Those studying in Canada can apply by visiting a BMO branch, making it accessible for non-residents.
- Students Aged 18 and Above: Applicants must have reached the age of majority in their province or territory.
Additionally, having a source of income—such as part-time employment, scholarships, or family support—is beneficial for approval.
Is the Student BMO CashBack Mastercard Worth It?
For students aiming to establish a credit history, this card offers a practical solution with no annual fee. The 5% cash back welcome offer in the first three months enhances its initial appeal.
However, it’s essential to manage spending wisely. The card’s interest rate is 21.99%, so carrying a balance can lead to significant charges.
Overall, the Student BMO CashBack Mastercard provides valuable benefits for students who use credit responsibly. Its rewards structure aligns well with typical student expenses.
Frequently Asked Questions About the Student BMO CashBack Mastercard Card
The Student BMO CashBack Mastercard is a credit card designed for students, offering cash back rewards on everyday purchases without an annual fee.
Yes, new cardholders can earn up to 5% cash back in the first three months, up to a maximum spend of $2,500.
Cardholders earn 3% cash back on groceries, 1% on recurring bill payments, and 0.5% on all other eligible purchases.
You can apply online through the BMO website by providing personal and financial information, or visit a local BMO branch.