Personal Finance

BMO Sobeys Mastercard Question

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  • Feb 24th, 2015 11:49 pm
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[OP]
Sr. Member
Nov 29, 2014
680 posts
81 upvotes
Pitt Meadows, BC

BMO Sobeys Mastercard Question

I went to this page and it said the banking division isn't anymore but the mastercard is still offered? Does anyone have this card?

http://www.bmosobeys.com/en/no-fee-mastercard

Seems like a interesting card but having the Banking division dis-continued is making me think twice about even thinking about getting it.
2 replies
Sr. Member
Apr 28, 2014
675 posts
184 upvotes
Oakville, ON
User230 wrote: I went to this page and it said the banking division isn't anymore but the mastercard is still offered? Does anyone have this card?

http://www.bmosobeys.com/en/no-fee-mastercard

Seems like a interesting card but having the Banking division dis-continued is making me think twice about even thinking about getting it.
Club Sobeys was offering a BMO Chequing account and Savings Account, in addition to the MasterCard. That is what has been discontinued (the bank account offerings).

The BMO Club Sobeys Chequing account was a good "loophole" for existing BMO clients, as essentially all self-serve transactions are free of charge; no monthly fees; no minimum balances. Branches were not allowed to promote it or open it. Those (like me) who opened the accounts have had them "grandfathered" and continue to have them, provided we don't close them. Although according to some posters on RFD, it is still possible to open a BMO Club Sobeys Chequing account, but you have to know the right people at BMO.

If you like to collect AIR MILES, and you like to shop at Sobeys, then the card makes sense - Sobeys is ditching it's "in-house" loyalty program at the end of March and replacing it with AIR MILES.
Sr. Member
Dec 22, 2013
930 posts
223 upvotes
EDMONTON
2 Air Miles per $20 is only earning effectively 1% on your purchases. You can get 2% elsewhere with no annual fee, i.e. MBNA Smart Cash or RBC Cash Back MC

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