BMO Card released: Get up to 5% cash back in your first 3 months.

A credit card that has no annual fee and yet offers generous cash back for everyday purchases is a rare find on the Canadian credit card landscape. That’s why BMO CashBack® MasterCard®* has always been a coveted piece of plastic among Canadian consumers looking for a no-fee card with easy cash back earnings.

BMO has recently made a few changes to this popular cash back card. There are some adjustments to the earn rates (mostly positive), as well as modifications to the way cardholders can redeem cash back earnings. Here’s a look at the changes and at what stays the same (spoiler alert: BMO’s CashBack MasterCard remains a solid choice for your wallet).

• No annual fee;
• Solid welcome offer;
• The 3% cash back on groceries (up to $500 monthly) is the highest cash back on groceries in Canada without paying an annual fee!;
• Very flexible redemption options.