Highlights
- For students aged 18–24 at a recognized post-secondary school, with no annual fee on the primary card or additional cards.
- Eligible grocery purchases earn 3% on the first $500 each statement cycle.
- Eligible automatic recurring bills earn 1% on the first $500 each statement cycle.
Issuer: Bank of Montreal
Network: Mastercard
Card type: Credit card
Annual fee: $0 for the primary card; additional cards are free
Foreign transaction fee: Foreign-currency purchases convert at the Mastercard rate on the posting date plus 2.5%; refunds convert at that rate minus 2.5%
This card earns BMO CashBack® cash rewards. You can apply them as a statement credit or deposit them into an eligible BMO account.
Welcome offer
【September 5, 2026 update】 $125:
- In the first three statement cycles after opening, eligible net purchases of up to $2,500 earn 5%, for a maximum of $125. Grocery, automatic recurring bills, and other purchases are capped at $500, $500, and $1,500 respectively.
- This is only for a new account. Restoring a former card, a product switch, or opening the same product again does not qualify. If you cancel within 90 days of opening, rewards earned in that period are cancelled.
Apply through the referral link 🔗 (This partner link supports the blog.)
Application requirement: students aged 18–24 at a recognized post-secondary school; Canadian citizen or permanent resident (international students apply in branch); age of majority in your province; and an annual income source such as employment income, a scholarship or grant, a student loan, or a family allowance.
Everyday spending
3%: Canadian MCC 5411 grocery stores and supermarkets, on the first $500 each statement cycle; after that, 0.5%. Convenience stores, bakeries, butchers, and specialty shops earn 0.5%.
1%: Eligible automatic recurring bills, on the first $500 each statement cycle. The merchant has to bill this card automatically on a monthly or other regular schedule; after that, 0.5%.
0.5%: Other eligible purchases, with no cap.
Benefits and insurance
- Reward redemption (BMO CashBack®)
The minimum one-time redemption is $1. You can deposit it into an eligible BMO chequing, savings, or InvestorLine account, or apply it as a statement credit. Automatic recurring redemption starts at $25.
- Instacart+ (Instacart+)
The website currently lists three complimentary months of Instacart+ and a $5 monthly Instacart credit. You have to complete registration, and the promotion terms apply.
- Car rental and show discounts (Car Rental Discounts / Cirque du Soleil Discount)
Avis and Budget prepaid base rates can be reduced by up to 30% and 35% respectively, and specified bookings can get at least 10% off the base rate. Cirque du Soleil touring shows in Canada can be 20% off, and Las Vegas resident shows can be 15% off.
Shopping insurance
Official insurance certificate 🔗
- Purchase Protection
Eligible personal items or gifts must be paid in full with this card. Theft or damage worldwide within 90 days of purchase can be claimed; the insurer may repair, replace, or reimburse. The two shopping benefits share a $60,000 lifetime maximum per account. Used, refurbished, listed motor vehicles, and business goods are among the exclusions. Notify Allianz immediately; written notice is due within 30 days and proof within 90 days.
- Extended Warranty
The original manufacturer warranty must be valid in Canada and can be extended by up to one extra year. Items with an original warranty longer than five years must be registered within one year of purchase. Settlement is the lower of repair or replacement cost and follows the original warranty terms. It shares the $60,000 lifetime maximum with purchase protection.
