BMO Harris Bank Refreshes Cash Back Mastercard with More Value and Enhanced Benefits

Rhea-AI Summary

BMO Harris Bank has revamped its Cash Back Mastercard, offering enhanced rewards for cardholders. Customers can now earn 5% cash back on streaming and cable services, 3% cash back on everyday essentials (up 50%), and 1% cash back on all other purchases. The card features cell phone protection and requires no annual fee. Additionally, cardholders can redeem cash rewards directly into a BMO deposit account, providing greater flexibility. This update aims to improve financial benefits for users while promoting BMO's commitment to helping customers achieve financial success.

Positive

• Enhanced cash back rewards: 5% on streaming and cable, 3% on essentials, 1% on other spending.
• Features cell phone protection for users paying their monthly bill with the card.
• No annual fee enhances overall customer value.
• New redemption option allows cash rewards to be transferred to BMO deposit accounts.

Negative

• None.

Cardholders have new opportunities to earn more cash back

CHICAGO, March 15, 2022 /PRNewswire/ - BMO Harris Bank today announced the refresh of its BMO Harris Bank Cash Back Mastercard with greater cardholder value and new benefits. The refresh provides richer cash back rewards for customers' everyday spending without them having to make any changes. BMO cardholders can now earn 5% cash back on streaming, cable TV and satellite services; 3% cash back—up 50% from the previous offering—on everyday necessities, like gas and groceries; and 1% back on all other spend.

In addition to the strong rewards value offered by the BMO Cash Back Mastercard, the card also features Mastercard's cell phone protection providing customers who pay their monthly cell phone bill with the card peace of mind in case of a lost, stolen or damaged device. The card has no annual fee and is compatible with digital wallets.

"BMO's purpose to Boldly Grow the Good in business and life drives us to help our customers make real financial progress," said Sarah Hamel-Spight, director of consumer credit card products for BMO Harris Bank. "This enhancement of our BMO Cash Back Mastercard offers cardholders more value and greater benefits. Combined with a new capability to redeem cash rewards directly into a BMO deposit account, our cardholders have a greater array of opportunities to earn and receive cash back for their hard-earned money."

BMO offers a full suite of credit card options to cater to clients' needs. Visit BMO Harris bank online for more information.

About BMO Harris Bank 
BMO Harris Bank provides a broad range of personal banking products and solutions through more than 500 branches and fee-free access to over 40,000 ATMs across the United States. BMO Harris Bank's commercial banking team provides a combination of sector expertise, local knowledge and mid-market focus throughout the United States. For more information about BMO Harris Bank, visit the company fact sheet. Accounts are subject to approval. BMO Harris Bank N.A. Member FDIC. BMO Harris Bank is part of BMO Financial Group, a highly diversified financial services provider with total assets of CDN$1.02 trillion as of January 31, 2022.

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SOURCE BMO Harris Bank

FAQ

What are the new benefits of the BMO Cash Back Mastercard as of March 15, 2022?

The BMO Cash Back Mastercard now offers 5% cash back on streaming, 3% on everyday necessities like gas and groceries, and 1% on all other purchases.

Does the BMO Cash Back Mastercard have an annual fee?

No, the BMO Cash Back Mastercard has no annual fee.

What features does the BMO Cash Back Mastercard include?

The card includes cell phone protection for users who pay their cell phone bills with the card.

How can I redeem my cash rewards from the BMO Cash Back Mastercard?

Cardholders can redeem cash rewards directly into a BMO deposit account.

When was the BMO Cash Back Mastercard refreshed?

The refresh of the BMO Cash Back Mastercard was announced on March 15, 2022.