BMO CashBack Mastercard for Students

Base rate is 0.5% on all purchases. Groceries earn 3% but only on the first $500 of grocery spend in a given STATEMENT PERIOD (monthly), not an annual cap; grocery spend above $500 in that statement period drops to the 0.5% base rate. Recurring bill payments earn 1% (0.5% base + 0.5% bonus) on the first $500 of recurring spend in each statement period; above that, 0.5%. Both caps are per-statement-period and reset when the next statement period begins, so the conservative annual ceiling is $500/month per capped category. BMO does not publish a single annual earn cap figure, so earn_cap_annual is left null rather than a computed number. All other purchases have no published cap.

Headline is '5% cash back on every purchase in your first 3 months'. The terms cap it at $2,500 of qualified spend for a maximum of $125, and the $2,500 is itself split into sub-buckets: up to $500 grocery spend (max $25), up to $500 recurring bill payments (max $25) and up to $1,500 all other purchases (max $75). Applications must be received between May 14, 2026 and November 3, 2026.

Purchase Security covers new purchases for 90 days. Extended Warranty doubles the manufacturer's warranty up to one additional year. Zero Liability. Optional paid BMO Credit Card Balance Protection up to $20,000 (insurance product, not a card benefit). No travel insurance of any kind. HARD AGE CAP: eligibility is 'Be a student between the ages of 18 and 24 at a recognized post-secondary school.' A 25-year-old student cannot get this card. This is the single most-missed condition on this product. Income: BMO publishes NO dollar minimum but DOES require income. 'Earn annual income from employment, scholarship/grant, student loan or family allowance.' This is not a $0-income card; min_personal_income is NOT PUBLISHED, not zero. The 3% grocery headline is capped at $500 per STATEMENT PERIOD, not per year. Above $500/month groceries earn 0.5%, one sixth of the headline. The '5% welcome offer' is really a $125 maximum, and it is sub-capped by category, so a student who spends $2,500 entirely on groceries earns $25, not $125. APR is not printed on the product page (the page renders 'ERROR API VALUE NOT FOUND' placeholders); rates were taken from BMO's cost-of-borrowing insert where the student card falls under 'All other BMO Mastercard and Visa Credit Cards'. Quebec residents are charged 21.99% (not 23.99%) on cash advances and balance transfers. BMO does not publish whether the card converts to a standard BMO CashBack Mastercard at graduation or at age 25.