The Bank of Montreal is currently offering the top student credit card out there, the BMO SPC CashBack MasterCard. Below are the current highlights of this credit card:
- No annual fee
- Earn $50 cash back bonus (if you apply between July 2, 2015 and November 2, 2015)
- Entered for a chance to win free tuition and books (contest period between July 2, 2015 and September 30, 2015)
- Earn SPC discount
- Earn 1% cash back on all purchases
The no annual fee makes this credit card a no brainer.
You will earn $50 cash back 45 days after your first purchases if you apply between July 2, 2015 and November 2, 2015. There is a limit of one cash back bonus per customer. Unfortunately, existing BMO SPC CashBack MasterCard cardholders or those who close their account from July 2, 2015 – November 2, 2015, are not eligible. Therefore, you cannot churn to receive the bonus.
The SPG discount are extremely valuable, discounts range from 10% to 15% at over 120 different stores.
The BMO Back to School Free Tuition Contest (the “Contest”) begins on July 2, 2015 and ends on September 30, 2015 (the “Contest Period”). You will receive 1 entry for this qualifying product.
The Grand Prize consists of a 1 year university, college or vocational school tuition scholarship of up to $10,000.00 CAD. The amount of Grand Prize will be determined by the total cost of tuition for one year in the program or course of study in which the Grand Prize winner is enrolled. If the program tuition cost is less than $10,000.00 CAD, the difference will not be awarded. If the program tuition cost is greater than $10,000.00 CAD, Grand Prize winner will be responsible for the difference.
The Grand Prize also includes $500.00 CAD for books and does not include any additional fees or charges like room and board charges, activities fees, registration/class/orientation fees, facilities/lab fees, or any other charges that are not stated as tuition.
This is actually a fairly generous prize, so if you are eligible to sign up for this credit card, I would go for it, even if it is just for the $50 sign up bonus and taking advantage of SPC discount.