BMO Cash Back Credit Card

• You spend money on streaming services, cable or satellite and want bonus rewards for that category.
• You also spend a fair amount on gas and groceries and value a 0% introductory APR window for purchases or balance transfers.
• You want a no-annual-fee card (there’s no yearly cost to keep this card in your wallet, per my review).
• You do not frequently travel internationally, because this card charges foreign transaction fees.

How you earn cash back

The cash back structure is simple and focused on a few categories:

• 5% cash back on eligible streaming, cable and satellite services.
• 3% cash back on eligible gas and grocery purchases — up to $2,500 per quarter.
• 1% cash back on everything else.

That makes the BMO Cash Back card attractive if you put a lot of everyday streaming, grocery and gas spend on the card. But outside those categories you’re only earning 1%, which is noticeably lower than flat-rate 2% cards on the market.

Welcome (spend) bonus

One of the most compelling parts of the card is the spend bonus. There’s a standard offer: a cardholder can spend $2,000 within the first 3 months and earn a $200 bonus. However, the issuer sometimes sends targeted offers by mail or email that reduce the spend requirement. The reviewer notes that they personally received an offer to earn the same $200 bonus for only $1,000 in spending within 3 months, an offer which they accepted.

A couple of practical notes from the reviewer’s experience:

• Even after the spending target is met, the bonus can take a while to appear. With the reviewer’s account, they hit the spend requirement in October but didn’t actually see the bonus credited to their account until January — roughly three months after meeting the threshold.
• In some cases, the cardholder will need to wait for a statement cycle for the bonus to become redeemable. One should plan accordingly if timing the bonus for a specific purchase or payoff.

Other card benefits

Beyond cash back, there are a few nice perks worth highlighting:

• Cell phone protection — up to $400 in coverage when you charge your monthly wireless bill to the card.
• Identity protections — Mastercard ID Theft Protection, identity monitoring and resolution services, Mastercard Zero Liability, and Mastercard Identity Check.
• Extended warranty — doubles the original manufacturer’s or store brand warranty for up to an additional 12 months on most new purchases.

These are helpful consumer protections that add value beyond the pure cash-back math.

APR and fees

Understanding APRs and fees is critical before you apply or start putting large balances on any card. Here’s how the BMO Cash Back card breaks down based on my review:

• 0% introductory APR for purchases — for the first 15 months. This is very useful if you have a large, planned purchase and want to spread payments without interest for a set period.
• 0% introductory APR on balance transfers — also for the first 15 months. If you have balances on other high-interest cards, this gives you a window to pay them down interest-free.
• Post-intro APR — after the 15-month intro period, the APR jumps to a variable rate based on creditworthiness (in my coverage range I mentioned a typical band from about 18.24% up to roughly mid-20s %).
• Balance transfer fee — there is a fee for balance transfers: either $10 or 4% of the amount of each transfer, whichever is greater. That fee applies even though the transfer has a 0% APR for the intro period.
• Cash advances — generally avoid these. Cash advance APRs are very high (typically well over 20%), plus a fee of $10 or 5% of the cash advance amount, whichever is greater.
• Foreign transaction fee — 3%. Because of this, I don’t recommend this card for travel or frequent international spending.
• No annual fee — one of the bigger positives: you don’t have to justify a yearly cost to keep the card.

Using the 0% APR windows correctly

If you plan to use the BMO Cash Back card for a big purchase or to consolidate debt via a balance transfer, remember these practical tips:

1. Calculate how much you can realistically pay during the 15-month interest-free period. The card gives you time, not forgiveness — if you still carry a balance after the intro period, interest will start applying at the regular APR.
2. Include the balance transfer fee in your math. For large balances the 4% fee can still make the transfer worthwhile if the transferred balance would otherwise be accruing high-interest monthly.
3. Plan to avoid new purchases that can complicate payoff order or incur interest. Some issuers apply payments to low-interest promotional balances first — read the terms and manage accordingly.

Pros

• $200 spend bonus — a straightforward, valuable welcome bonus if you can meet the spend target in the required timeframe.
• Strong bonus categories for many households — 5% on streaming and 3% on gas and groceries is solid if you use the card for those recurring expenses.
• 0% APR on purchases and balance transfers for 15 months — gives flexibility for planned purchases and debt consolidation.
• No annual fee — keeps the card low-risk to carry long-term for the benefits and protections.
• Helpful protections like cell phone coverage and extended warranties add real value beyond rewards.

Cons

• Low 1% base rate on everything else — outside streaming, gas and groceries you’re earning only 1% back. If you want strong rewards across all spend, a 2% flat card might be a better companion.
• 3% foreign transaction fee — not travel-friendly. If you travel internationally, consider no-FX-fee cards from issuers like Capital One or dedicated travel cards.
• Bonus timing can be slow — the spend bonus may take months to post after meeting the requirement; don’t expect instant fulfillment.

The Reviewer’s Recommended Strategy

Here is the recommended strategy from the reviewer to maximize this card’s strengths while minimizing the downsides:

• Use the BMO Cash Back primarily for streaming, cable/satellite, gas, and grocery purchases to maximize the 5% and 3% categories.
• Pair it with a flat-rate 2% cash back card to handle all other spending so the cardholder is not stuck earning only 1% outside of the bonus categories.
• If a cardholder has a high-interest balance elsewhere, they could consider a balance transfer to BMO during the 0% APR window — but only after running the math, including the 4% transfer fee, and making a clear payoff plan for the 15 months.
• Avoid using the card abroad because of the 3% FX fee; keep a no-FX card handy for travel purchases.

Final verdict

Overall, the reviewer thinks the BMO Cash Back Credit Card is a solid, no-annual-fee option for many consumers. It’s not a one-size-fits-all solution, but if a consumer spends meaningfully on streaming services, gas, and groceries, the 5% and 3% rates plus a potentially easy $200 welcome bonus make it compelling.

However, because the card only returns 1% on other purchases, the reviewer would recommend pairing it with a 2% flat-rate card or using it strategically for the bonus categories only. Cardholders should also be mindful of the foreign transaction fee and the timing of the welcome bonus posting. If someone plans to use the 0% APR introductory window, they should create a disciplined payoff schedule so they don’t get hit with the higher ongoing APR after the promotional period ends.

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