Apply BMO Cashback MasterCard Credit Card

The BMO Cashback MasterCard Credit Card offers a wide range of rewards. You can earn cash back on everyday purchases, discounts on restaurants, travel, and much more. 

You can also redeem your cash back to have a nice night out with friends, or you can use it to pay for your baby’s nursery. You can take advantage on all of these little to without paying any annual fees – a reason why a lot of people highly recommends the card. 

Furthermore, Canadians have the option to earn an additional, limited 5% on cash back purchases made at Canadian grocery stores, cinemas, and gas stations, and 0.5% on all other purchases. A lot of people are also saying that the protection services of this card is top of the line as it is powered by MasterCard.  Rates and Fees of BMO Cashback MasterCard Credit Card

Annual Fee: Luckily, BMO Cashback MasterCard Credit Card charges little (up to $35) to no annual fees so you don’t have to worry paying a hefty charge every year just to take advantage of the card. 

Late Payment Penalty Fee: BMO Cashback MasterCard Credit Card doesn’t disclose if they have any late payment fees to borrowers who forgot to pay their dues they supposed to be. 

Returned Payment Fee: There’s a returned or dishonored payment fee charged by the BMO Cashback MasterCard Credit Card to borrowers who have insufficient funds on their bank account that creates a failed transaction.  

Foreign Transaction Fee: A foreign transaction fee of 2.5% is charged whenever you want to create a transaction internationally using BMO Cashback MasterCard Credit Card. 

Interest Rate: The interest rates that lies with BMO Cashback MasterCard Credit Card is 20.99% for purchases while it’s both 22.99% for cash advance and balance transfers. 

Other fees: BMO Cashback MasterCard Credit Card has an over limit fee of $29 so you have to be careful about your spending. And if you want to have a duplicate of your monthly statement, you have to pay a fee of $5. 

Qualifying for BMO Cashback MasterCard Credit Card

Minimum Credit Score needed: The credit score you need to acquire BMO Cashback MasterCard Credit Card is good to excellent. In general, the point you have needs to be between 680 to 700 above. 

Annual Income requirements: The annual income requirement of BMO is only $15,000 – making it a perfect credit card for middle-income earners.

How to apply for BMO Cashback MasterCard Credit Card?

BMO Cashback MasterCard Credit Card offers the lowest annual fee in Canada, a 0% introductory rate on purchases, and a 0% introductory rate on balance transfers for 21 days. If you want to acquire the card, just go to BMO’s official website, select the financial product, and fill out an application form that consist your personal information. 

Next, wait for BMO to run a credit check on you and they will let you know if you’ve been approved. Finally, review the terms and conditions, sign the contract, and have your BMO Cashback MasterCard Credit Card in no time! 

Final thoughts

There are many benefits to having a credit card. You can make purchases with your card, and using it can be a convenient way to build your credit score. One of the biggest benefits is the ability to make online purchases. This can be a good way to buy things that you wouldn’t be able to buy with cash like streaming services. 

And as you probably know you can use BMO Cashback MasterCard Credit Card for all of your transactions, including the ones you might not think of. This card offers low annual fees and interest rates, as well as low annual income requirement to cover middle-income earners that wants a rewards credit cards.