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BMO Ascend World Elite Mastercard Credit Card Review - Watch Before you ApplyHere is the step-by-step procedure for using your BMO Cash Back balance earned with a BMO Cash Back credit card. See our most popular cash back credit card with no annual fee. Get 3% cash back on groceries and 1% back on recurring bill payments. Apply for one online. Cash back credit cards reward you with a percentage of your purchases back when you spend. Learn how cash back works on a credit card.