BMO Harris Cashback Mastercard Credit Card Review

Bmo harris bank has branches in nine different states and as far as I can tell if you want to get one of their credit cards you have to be in one of those states because 

If you try to apply online they want to know what your BMO harris account number is so they're assuming you're already a customer or if are not already a customer they tell you to go into one of their branches 

So it looks like you have to be in bmo's footprint as they say to actually get one of their cards now the harris cashback Mastercard that we are going to talk about is probably the most interesting of what they offer the 

Bmo harris cashback MasterCard is a no annual fee MasterCard that gives you your rewards using the following formula you get five percent cash back on streaming services and or cable and or satellite services as far as the streaming services go most of the big names are going to include their youtube tv Hulu tv Disney plus HBO etc 

So you get five percent cash back on those you get three percent back on grocery and gas purchases on up to 2 500 per calendar quarter in those two categories combined 

So as long as you don't spend over 2 500 on groceries and gas in three months then you're gonna get three percent on all of that if you go over that in those categories then anything beyond 2500 would get you one percent and then all the other purchases on the card are also going to get you one percent 

There is a bonus opportunity on this card of 200 if you spend 2 000 with the card in the first three months after you get it 

You can redeem your cash back as a statement credit meaning it goes against the purchases on your cashback MasterCard and reduces your credit card bill or you can take that cashback and have it deposited into a deposit account checking savings etc 

Like a lot of credit cards, bmo cashback Mastercard does have some extra features and benefits that you might use probably the most interesting at least in my opinion are the fact 

That you have four hundred dollars or up to four hundred dollars of cell phone protection if you use the card to pay for your cell phone bill and something happens to your phone 

It gets broken it gets stolen and there may be some other things so make sure you read the fine print there but you would have up to four hundred dollars in cell phone protection 

The next most interesting or the other most interesting is the fact that you do have extended warranty protection 

So if you buy something with this card it actually doubles the manufacturer's warranty of whatever is on the thing that you have purchased, to begin with 

Now there does have to be a warranty on whatever item you have purchased to double that warranty and I think there is some sort of limit maybe two years something like that so 

If you buy something it doesn't have a warranty you don't get one but if it has a warranty it will double it looking at 

Rates and fees on this card I've already said there is no annual fee in terms of your interest rate potential you could at the low end at least 

A 14.24 interest rate or you could get all the way up to a 22.24 interest rate what you get is going to depend on your credit history when you apply and are approved that's when they're going to tell you what that interest rate actually is 

There is a balance transfer offer a zero percent balance transfer offer on this card for 12 months and what that means is if you take a balance from some card they already have and maybe it's sitting at a high-interest rate you move it onto this card you can have it sit there at zero percent no interest at all for 12 months

However, you should know that there is a balance transfer fee of four percent of the amount moved 

So you are going to pay a chunk upfront in order to move that uh balance onto this card but in the end usually, when you do the math and you do a balance transfer you're going to come out ahead 

If you can have it set at zero percent while you pay it off versus it being on a higher interest card 

So we look at this card overall it has some limitations obviously one of them is the fact that you have to be a harris bank customer or live in a place where you could become a harris customer this car does stack up pretty well though with some of the other cards out therefrom 

The big banks that maybe do a little bit more in the rewards game the five percent on streaming services or cable or satellite services is a pretty nice reward and it's not one that you're going to see too much on other credit cards on the market 

Especially on a no annual fee card sometimes you'll see sort of limited time offers where you could get something higher on your streaming services 

But most cards especially with no annual fee aren't going to have that as the main feature in terms of where you can earn your cashback so that is a very attractive three percent on groceries and gas pretty good 

When you compare to some of the other cards out there on the market so this is a card that I could see potentially you would hold as an everyday card probably for me 

I would think of this as maybe a complimentary card to some other credit cards I might hold in my wallet in particular if I had a flat cashback card that was giving me two percent and there are a few of those on the market 

I might use that and have this as sort of a complimentary card with it but it is a pretty decent card for a smaller bank where credit cards aren't necessarily their biggest offering something 

Where they're really competing with the big banks, in general, Bmo harris cards they're only okay but this one is pretty good 

So if you're in the geographic footprint of harris this is a card that you might want to check out might want to consider if you are not in the geographic footprint well move on now.

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