BMO Cash Back Credit Card

Rewards by category

Our take

The BMO Cash Back Credit Card from BMO Bank N.A. pays 5% on streaming, cable TV and satellite services, 3% on gas, EV charging and groceries, and 1% on everything else, with no annual fee. The detail worth leading with is a pleasant one for a change: the 5% is uncapped. A quarterly spending cap of $1,500 exists, but it applies only to the 3% categories — the entertainment-and-connectivity bucket earns 5% on every dollar. An uncapped 5% is genuinely unusual, because most cards that advertise that number quietly limit it to a few thousand dollars a year.

The caps and fees that do exist should be stated plainly. The 3% categories share $1,500 of spend per quarter, which is $500 a month across gas, EV charging and groceries combined — an ordinary grocery bill alone can reach it — and anything beyond drops to 1%. Filled every quarter, that $6,000 a year earns $180 at 3% versus $60 at 1%, so the bonus is worth about $120 annually. The harder caveat is a 3% foreign transaction fee: $30 on every $1,000 charged abroad, which is more than the 1% base rate returns and more than the 3% categories net out to. This is a domestic card, full stop.

The 5% category is read broadly, which is where the card earns its keep. Cable TV and satellite services count, not just Netflix-style apps, so a traditional cable bill or satellite radio subscription earns the same 5% as a streaming app. A household paying $130 a month across cable and streaming would collect about $78 a year from that line alone, and nothing turns it off. Be clear about the ranking, though: our streaming list is still led by the Blue Cash Preferred at 6%, so the BMO card is the strong no-annual-fee alternative rather than the winner. Carry it if you have a real cable or satellite bill, keep your groceries and fuel under the quarterly cap, and reach for something else the moment you cross a border.

The math

Run $80 a month of streaming through this card and you're earning about $48 a year at our conservative valuations. There's no annual fee to earn back — everything above the 1% base rate is pure upside.

Where it lands in our rankings: #2 for streaming

Key benefits

• No annual fee

Common questions

Does BMO Cash Back Credit Card have an annual fee?

No — BMO Cash Back Credit Card has no annual fee.

What does BMO Cash Back Credit Card earn on streaming?

5% on streaming.

What rewards does BMO Cash Back Credit Card earn on everything else?

1% on all other purchases, in Cash Back.

Is the BMO Cash Back 5% streaming rate capped?

No, and that is the card's best feature. The 5% on streaming, cable TV and satellite services applies to every dollar with no spending limit. The $1,500 per quarter cap belongs to the 3% categories only — gas, EV charging and groceries — and once that shared bucket is used up, those purchases earn 1% for the rest of the quarter.

Does the BMO Cash Back card count cable TV as streaming?

Yes. BMO reads the category broadly, so cable TV and satellite services sit alongside streaming apps at 5%, and a satellite radio subscription qualifies too. That breadth matters more than it sounds, because households with a traditional cable bill usually spend far more on it than on streaming apps. Just remember the card charges a 3% foreign transaction fee, so keep it out of your wallet on international trips.