BMO Harris Cash Back Credit Card Review

In this review, we will examine the features, benefits, and potential considerations of the BMO Harris Cash Back Credit Card. By assessing its rewards program and associated factors, prospective cardholders can make informed decisions about whether this credit card aligns with their financial needs.

One of the primary advantages of the BMO Harris Cash Back Credit Card is its enticing rewards program. Cardholders have the opportunity to earn cash back on their purchases, providing a tangible benefit for their spending. The card offers a competitive cash back rate on various categories, such as groceries, gas, dining, and more, allowing cardholders to accumulate rewards on their everyday expenses.

The BMO Harris Cash Back Credit Card provides flexibility in redeeming earned cash back. Cardholders can choose to apply their cash back as a statement credit to reduce their outstanding balance, deposit it into their BMO Harris account, or utilize it for other financial needs. This flexibility allows cardholders to optimize their rewards based on their individual preferences and financial goals.

In addition to the rewards program, the BMO Harris Cash Back Credit Card offers additional benefits. These may include purchase protection, extended warranty coverage, and travel insurance, among others. These added features provide cardholders with peace of mind and added value when using the credit card for various transactions and travel expenses.

One consideration with the BMO Harris Cash Back Credit Card is the potential for higher interest rates. It is essential for cardholders to pay their balances in full each month to avoid accruing interest charges. Carrying a balance can result in interest fees that may outweigh the benefits of the cash back rewards.

Another factor to consider is the eligibility requirements for obtaining the card. BMO Harris may have specific criteria, including credit score thresholds and income verification, which may impact the approval process. Prospective applicants should review these requirements to ensure they meet the necessary criteria before applying.

The BMO Harris Cash Back Credit Card offers an appealing rewards program, providing cardholders with the opportunity to earn cash back on their purchases. The flexibility in redemption and the additional benefits contribute to its overall value proposition. However, potential cardholders should be mindful of the potential for higher interest rates and the eligibility requirements. By assessing these factors against their financial situation and spending habits, individuals can determine if the BMO Harris Cash Back Credit Card is a suitable choice for their credit card needs.

Are cash back cards a good idea?

Cash-back cards are a good idea if: You want to start earning rewards with a simple, easy credit card. You want to earn cash back for spending you would do anyway. You can maximize your rewards by targeting spending in specific areas.

Does BMO CashBack Mastercard have an annual fee?

Welcome offer. Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first year.

Is BMO Harris Bank good?

BMO Harris is best for customers who want an institution with a full suite of personal banking products, including deposit accounts, credit cards and loans. It’s also a good fit for those who need retirement planning, business or commercial services, wealth management and investment services and advice.

What is the downside of cash back credit cards?

There are a few drawbacks to a cash-back rewards card, including a higher-than-usual APR, having to wait to access your cash-back funds, and a cap on how much you can earn each year. Also, when it comes to travel rewards such as airline miles, sometimes the miles are worth more than the cash.

Is there a downside to cashback?

Some cash back rewards expire if you don’t use the credit card for a certain length of time. High regular APRs are the norm with rewards cards. Even if a cash back credit card comes with a 0% APR intro period, it’s likely to have a high regular APR.

How much is BMO CashBack?

Besides, the annual fee is waived in the first year! With the BMO® CashBack® World Elite®* Mastercard®*, you earn between 2% and 5% cash back on many spending categories: 5% on grocery purchases (on the first $500 you spend monthly) 4% on transit (on the first $300 you spend monthly)

5/5 - (10 votes)

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