Written by
Ashley Parks
As a Bankrate credit cards editor, Ashley Parks is fascinated by the ways people can make credit cards work for them when armed with the right knowledge.
Edited by
Reena Thomas, Ph.D.
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity , this post may contain references to products from our partners. Here's an explanation for how we make money .
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Rating: 3.8 stars out of 5The rewards rates on this card make it one of the best for streaming and TV subscriptions. But unless you shell out for cable or satellite TV, you may be able to use the BMO Cash Back Credit Card best as a second rewards card since other cards offer wider-reaching categories.
Add to compare*The information about the BMO Cash Back Credit Card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.
Add to compare Recommended credit score: ( 670 - 850 )Info Hover to learn more
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
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$200 cash back bonus when you spend $2,000 in the first 3 months of account opening
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Get 5% cash back on eligible streaming, cable TV and satellite services, Get 3% cash back on eligible gas and grocery purchases, Get 1% cash back on all other eligible purchases
21.24% - 28.24% Variable
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Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.
Reward Details
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At first glance, the BMO Cash Back Credit Card looks like a solid cash back credit card. It charges no annual fee, features a solid rewards rate on some everyday purchases and comes with a short intro APR offer on balance transfers. The card stands out for its rewards on streaming, however.
Unlike most other cards that offer rewards on streaming, the BMO Cash Back Credit Card also earns bonus rewards on traditional cable and satellite TV services. Plus, your rewards aren’t limited to a specific list of streaming, cable and satellite TV subscriptions. This flexibility, combined with the card’s higher-than-average rewards rate, makes the BMO Cash Back Credit Card easily one of the best credit cards for streaming services.
But streaming bonus categories usually aren’t as lucrative as other everyday spending categories. And though the card carries a decent rewards rate on gas and groceries, it comes with a quarterly spending cap. It also lacks the bonus category variety you can find on other no-annual-fee cash back cards.
While the BMO Cash Back Credit Card could offer a lot of everyday value, especially if you spend heavily on streaming and TV services, other cards with more versatile cash back categories may be more lucrative overall.
Credit Card Cash BackExpert Appraisal: Good
See our expert analysis
Expert Appraisal: Unimpressive
See our expert analysis
Expert Appraisal: Unimpressive
See our expert analysis
Expert Appraisal: Typical
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Expert Appraisal: Typical
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Checkmark This card offers perhaps the highest, unlimited rewards rate on streaming services, cable and satellite TV year-round for no annual fee.
Checkmark It can be easier to switch to since this card offers an intro balance transfer APR.Checkmark While you do have a quarterly spending cap, you’ll earn 3 percent cash back on two popular everyday expenses: gas and groceries.
Checkmark Paying your monthly cellphone bill with this card insures your phone for up to $400 if it’s damaged or stolen (up to $600 per covered card per 12-month period minus a $50 deductible).
Rewards on streaming, cable and satellite subscriptions aren't usually very valuable unless you have a hefty cable or satellite TV bill.
Several no-annual-fee cash back cards offer a more rewarding roster of bonus categories. Its cellphone protection and perk list is weaker than competitor cards.The welcome offer's spend requirement is well above the typical three-month spend compared to rival cards.
The BMO Cash Back Credit Card has a lot to give, especially to streaming and TV aficionados. You’ll get one of the highest reward rates on these purchases with this card, along with some pretty standard (but helpful) cardholder perks.
This card’s standout feature is its generous rewards rate on streaming, cable TV and satellite purchases. The BMO Cash Back’s offering in this category is hard to beat, and it's noteworthy to get a rewards rate this high for no annual fee. People who dedicate a sizeable chunk of their budget to these purchases will likely get the best bang for their buck with this card.
While the BMO Cash Back doesn’t skip many standard credit card fees, it does make them fairly easy to avoid if you manage your credit responsibly. The late payment and returned payment fees of up to $39 are even a couple dollars cheaper than what you’d find on other cards. You can avoid interest charges by paying your bill in full every month, and the foreign transaction fee shouldn't be an issue if you pair the BMO Cash Back with a no-annual-fee travel card that doesn't charge for foreign transactions.
There aren’t many standouts in terms of card perks for the BMO Cash Back, but the few perks it does tout can be mighty. The most noteworthy is its cellphone protection coverage. By paying your monthly cellphone bill with your card, you can get reimbursed up to $400 if your phone is damaged or stolen (subject to a $50 deductible). You can file up to two claims per year for up to $600 in total coverage. This may not be the strongest coverage around, but cellphone protection perks are somewhat hard to come by on credit cards so it could still be a worthwhile addition.
While a terrific card to earn on streaming services, the BMO Cash Back does have some drawbacks. Its welcome offer doesn't match rival cards and you can find stronger intro APR offers elsewhere.
A welcome offer will often be a great incentive for getting a new card, but the welcome offer on the BMO Cash Back falls a bit short. You can earn a $200 cash back bonus after spending $2,000 within your first three months. Although $200 back is typical for a no-annual-fee cash back card welcome offer, most competing cards only require a $500 to $1,000 spend in the same time frame to qualify for a sign-up bonus of this caliber. A $2,000 spend across three months should still be within reach for many cardholders, but it isn’t the most accessible spend requirement.
You can receive a 0 percent intro APR for 12 months on balance transfers made within the first 90 days, after which a 21.24 percent to 28.24 percent variable APR applies. While a year of 0 percent interest could be a big help if you need to pay off debt, it’s not the longest intro APR offer out there (some cash back cards come with intro APR periods of 15 or even 18 months). It’s also disappointing that the card doesn’t offer a 0 percent intro APR on purchases, so interest charges will immediately apply if you carry a balance after a new purchase.
The balance transfer fee is also relatively high. You’ll pay a 4 percent fee ($10 minimum) on all transferred balances. While that’s better than the 5 percent fee some cards charge, several competing balance transfer cards only charge a 3 percent balance transfer fee.
The BMO Cash Back Credit Card is a great choice if its combination of grocery, gas and TV subscription rewards match your spending habits.
However, many people spend far more on groceries, gas and other necessities than on TV services. Although the BMO Cash Back Credit Card may be the best option for home entertainment fans, several other cards may earn more cash back overall.
$200 cash back bonus when you spend $2,000 in the first 3 months of account opening
Get 5% cash back on eligible streaming, cable TV and satellite services. Get 3% cash back on eligible gas and grocery purchases. Get 1% cash back on all other eligible purchases.
Recommended Credit Score
Good to Excellent (670 – 850)A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Earn a $250 statement credit after you spend $3,000 in eligible purchases on your new Card within the first 6 months.
6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%). 6% Cash Back on select U.S. streaming subscriptions. 3% Cash Back on transit including taxis/rideshare, parking, tolls, trains, buses and more. 3% Cash Back at U.S. gas stations. 1% Cash Back on other purchases.
Recommended Credit Score
Good to Excellent (670 – 850)A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening
8% Cash Back on Capital One Entertainment purchases. 5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply). 3% Cash Back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® and Target®). 1% Cash Back on all other purchases.
Recommended Credit Score
Good to Excellent (670 – 850)A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
The Blue Cash Preferred® Card from American Express offers superior cash back on all of the BMO Cash Back Credit Card bonus categories: unlimited 6 percent cash back on select U.S. streaming services, 6 percent back at U.S. supermarkets (on up to $6,000 per year, then 1 percent) and unlimited 3 percent back at U.S. gas stations. What’s more, you’ll receive unlimited 3 percent cash back on transit as well (cash back is received in the form of reward dollars that can be redeemed as a statement credit or at Amazon.com checkout.) The Blue Cash Preferred card even provides a 12-month 0 percent intro APR on both purchases and balance transfers (then a 18.74%-29.74% Variable APR). Your biggest concern may be the Blue Cash Preferred card’s annual fee, but thanks to its best-in-class cash back rate at U.S. supermarkets, you may earn far more cash back overall despite this fee. Unless you have a high cable or satellite TV bill, it might be hard to earn as much with the BMO Cash Back Credit Card as you would with the Blue Cash Preferred. However, the BMO Cash Back Credit Card doesn’t limit its eligible streaming services to a specific list like the Blue Cash Preferred card. If you use many of the services not included on the Blue Cash Preferred streaming list, then you may get more out of the BMO Cash Back. If you want a slightly more well-rounded cash back card with more practical spending categories, the Blue Cash Preferred could definitely win out.
If you prefer sticking to cash back cards with no annual fee, the Capital One SavorOne Cash Rewards Credit Card (See Rates & Fees) may better reward your food and entertainment purchases. Although it earns just 3 percent cash back on popular streaming services and 1 percent on gas, the SavorOne can outperform the BMO card with unlimited rewards on a wider variety of expenses — including grocery store purchases (excluding superstores like Walmart® and Target®), dining, entertainment and select travel purchases booked through Capital One Travel. The SavorOne card also gives you more ways to redeem cash back, including automatic redemptions. You may earn more cash back with the SavorOne thanks to its wider variety of everyday bonus categories, despite its lower rate on streaming services. But if streaming is what makes up the bigger chunk of your budget, the BMO Cash Back might be the better fit.
The best cards to pair with the BMO Cash Back are no-annual-fee credit cards that fill in the gaps of the BMO Cash Back while offering a few more well-rounded perks and benefits.
The Wells Fargo Active Cash® Card earns 2 percent cash rewards on purchases, covering anything that lands outside the BMO Cash Back Credit Cards bonus categories. The Active Cash also has stronger cellphone protection coverage but similar intro APR offer to what you’d get from the BMO Cash Back.
The Chase Freedom Unlimited® offers 1.5 percent cash back on general purchases and 3 percent back on dining and drugstore purchases — two everyday categories missing from the BMO Cash Back Credit Card. The Freedom Unlimited also boasts decent travel protection benefits.
The BMO Cash Back is definitely a strong choice for anyone whose top monthly spending is on home entertainment as well as those who can avoid the high APR on balances.
With a rewards rate on home entertainment staples that’s hard to beat, people who subscribe to several streaming services should get a decent windfall of rewards.
The ongoing interest rate on the BMO Cash Back is fairly steep, and the lack of an intro offer on purchases won’t do you many favors when it comes to saving on interest. People who are already in the habit of paying their credit card bills in full every month won’t have to worry about these additional charges.
The BMO Cash Back Credit Card offers one of the best year-round rewards rates on streaming, cable and satellite TV subscriptions and a solid rate on both groceries and gas, so it could be a good fit if you want a simple no-annual-fee rewards card.
Depending on your spending habits, though, a card that offers rewards on a wider variety of purchases in addition to groceries — like dining or travel — may be more lucrative.
