Credit Cards

BMO Cash Back W.E. lowering flat earn rate from 1.75% to 1.5% in October.

  • Last Updated:
  • Dec 15th, 2017 10:12 pm
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Deal Addict
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Jul 30, 2015
1015 posts
1056 upvotes
angel_wing0 wrote: Probably? I never tried it myself but the option is certainly there on the rewards portal:

Image
Excellent thank you very much!!
Never argue with stupid people, they will drag you down to their level and then beat you with experience.
Deal Fanatic
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Aug 29, 2012
9301 posts
10316 upvotes
Why would anyone use anything but the statement credit is beyond me. It only takes two days to appear, and you can redeem it as soon as you have 5000 points. I did it two times in the span of the last month. It's just so easy.

I'm going to keep my RTP but I am also probably going to apply for the Fido card, to have options in case either card goes to shit.
Jr. Member
Jan 8, 2017
168 posts
93 upvotes
Saw an ad earlier for the BMO cashback WE card. Promo material still pushing the 1.75%... I don't think the FAQ item about "why didn't you tell me this when I signed up" is honest if BMO is still pushing the card with no mention of the impending lower rate.
Sr. Member
Jun 19, 2010
722 posts
699 upvotes
Vancouver
Promo material still shows 1.75% cash back... Did they change this and decide not to lower to 1.5%?
Deal Addict
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Jul 30, 2015
1015 posts
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No.... its still 1.75% that's why they advertise as such. No change it will go down to 1.5% in October.
Never argue with stupid people, they will drag you down to their level and then beat you with experience.
Deal Fanatic
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Dec 11, 2005
9870 posts
1914 upvotes
TO
This used to be 2% initially correct? Then went down to 1.75 and now 1.5?
"You can't soar with the eagles if you're hanging with the turkeys - Gary Kent
Jr. Member
Dec 15, 2014
178 posts
106 upvotes
Brossard, QC
TorontoEh wrote: This used to be 2% initially correct? Then went down to 1.75 and now 1.5?
Was 1.75% and now 1.5%
Member
Nov 13, 2003
268 posts
207 upvotes
Vancouver, BC
1.5% made this card not attractive (to me) anymore. If I want to cancel this card, when is the best time to do so? I believe my anniversary is around May.
Deal Addict
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Dec 17, 2008
2781 posts
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Winnipeg
DDR wrote: 1.5% made this card not attractive (to me) anymore. If I want to cancel this card, when is the best time to do so? I believe my anniversary is around May.
I believe cashback is paid out in January
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Deal Addict
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Jul 30, 2015
1015 posts
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Shawguy wrote: I believe cashback is paid out in January
No you can redeem via www.bmocashback.com at any time. Cancel just before they charge you the annual fee ? It depends how much you put on the card. I decided to cancel mine in August and switch to the MBNA World Elite. I have put enough in 2 months so that the difference in cash back between the two already paid the 89$ annual fee.
Never argue with stupid people, they will drag you down to their level and then beat you with experience.
Member
User avatar
Apr 7, 2013
245 posts
92 upvotes
Deux-Montagnes, QC
DDR wrote: 1.5% made this card not attractive (to me) anymore. If I want to cancel this card, when is the best time to do so? I believe my anniversary is around May.
You can redeem once you get 50$ (but exactly 50$)

If you switch product they will credit all your cashback to the new card.
Deal Addict
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Dec 17, 2008
2781 posts
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Winnipeg
Latitude57 wrote: No you can redeem via www.bmocashback.com at any time. Cancel just before they charge you the annual fee ? It depends how much you put on the card. I decided to cancel mine in August and switch to the MBNA World Elite. I have put enough in 2 months so that the difference in cash back between the two already paid the 89$ annual fee.
We're both correct.

Yes if you have more than $50 in Cashback, you can redeem online.....if you have less than $50 or simply don't redeem....the cashback will redeem automatically on the January statement

https://www.bmo.com/pdf/cashback-reward ... ons-en.pdf
6. Accumulating, Redeeming and Crediting Your
Account with CashBack Rewards
You will accumulate CashBack rewards over the
course of a calendar year beginning with the
purchases shown on your January statement. We
will redeem the CashBack rewards in December each
year and credit your account in January of the
following year.
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Deal Guru
Sep 9, 2003
10598 posts
4848 upvotes
Burnaby
Cancelled the card, specifically stated it was because of the reduced cashback rate.

Was offered bonus 0.25% cashback for 3 months (so 1.75% for 3 cycles).

Declined, cancelled.
Deal Addict
Mar 30, 2017
1226 posts
980 upvotes
GVA
crimsona wrote: Cancelled the card, specifically stated it was because of the reduced cashback rate.

Was offered bonus 0.25% cashback for 3 months (so 1.75% for 3 cycles).

Declined, cancelled.
same, so lame, i applied in summer to set up the premium 6k chequing account and this credit card....

i am now debating if i should get rogers 1.75% and tangerine combo.

figured i need to spend over $29/0.25%= $11,600 to breakeven for the switch over...
will need to pay for 2k car insurance and 2k house insurance, with 7600 left
or 633.33 per month
kinda hard to spend that much
.

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