BMO CashBack® World Elite®* Mastercard®*

Welcome Bonus
Up to $650 in value
  • No annual fee for the first year
  • 5% cash back on groceries
  • 3% cash back on gas
Annual Fee
$139
First Year Annual Fee Rebate (terms apply)
Interest rates
Purchase Rates
21.99%
Cash Advance Rates
23.99%
21.99% (QC)
Balance Transfer Rates
23.99%
21.99% (QC)
Ranking of the Best Credit Cards in Canada in 2022 - Best Mastercard Cash Back Credit Card
BMO CashBack® Mastercard®* World Eliteᴹᴰ*
BMO CashBack® World Elite®* Mastercard®*
Up to $650 in value
Apply Now

Offer

Welcome offer: Get up to $650 in value and have the $139 annual fee waived for the first year. Plus, get 0% introductory interest rate on Balance transfers for 12 months with a 2% transfer fee.*

  • Earn more cash back on the categories that mean the most:
    • 5% on groceries*
    • 4% on transit including ride sharing, taxis and public transportation*
    • 3% on gas and electric vehicle charging*
    • 2% on recurring bill payments like your monthly phone bill or favourite streaming service*
    • 1% cash back on all other purchases, with no limit on the amount of cash back you can earn*
  • Save up to 20% at National Car Rental® and Alamo Rent A Car® locations, and up to 5% at Enterprise Rent-A-Car® locations worldwide when you book using the vehicle rental tool*
  • Purchase protection and extended warranty insurance on most items purchased with the card*
  • Complimentary membership in Mastercard Travel Pass provided by DragonPass.*
  • Complimentary roadside assistance services, including battery boost, flat tire change, door unlocking and vehicle towing — a value of $75 per year*
  • You also benefit from collision damage waiver insurance for rental vehicles and 8-day coverage for medical expenses abroad up to $5 million*
  • Shop, eat and relax with our partners to receive offers when you travel and make purchases with your BMO World Elite Mastercard outside Canada*
  • Enjoy six months of Instacart+ and a $10 monthly Instacart credit when you enroll your eligible BMO Credit Card.*

Card Awards

Ranking of the Best Credit Cards in Canada in 2022 - Best Mastercard Cash Back Credit Card
Ranking of the Best Credit Cards in Canada in 2022 - Best Gas and Transportation Cash Back Credit Card
Ranking of the Best Credit Cards in Canada in 2022 - Best MC Grocery Cash Back Credit Card

Fees & Conditions

Personal Income $80,000
Household Income $150,000
Annual Fee $139
First Year Annual Fee Rebate
First Additional Card $50
Other Additional Card $50
Foreign Transaction Fee 2.5%
Balance Transfer
Balance Transfer Intro Duration 12 month(s)
Balance Transfer - Promotional Rate 0.00%
Balance Transfer Fees 2 %

Value

Calculate the rewards
Your Monthly Spending
Year 1
Year 2+
Welcome Bonus
0 $
Annual Credit
Travel benefits
VIP Lounges
First Year Annual Fee Rebate
-
First year offer value
Rewards Earned
Annual fee
Net value

Advantages

Welcome Bonus amount Up to $650 in value
Minimum Spending Required $24,000
Minimum Spending Timeframe (Months) 12 month(s)
Costco

Earnings

Per dollar of purchases

All Spending 1 %
Groceries 5 %
Gas 3 %
Dining and Food delivery 1 %
Convenience Stores 1 %
Drugstores 1 %
Local Transport 4 %
Travel 1 %
Entertainment 1 %
Recurring Payments 2 %
Telecom/Internet 1 %
Streaming services 2 %
Online transactions 1 %
Office Supplies 1 %

Insurance

Travel Insurance

Insurance Name
Included
Amount
Duration
Travel Medical Insurance
Travel medical insurance up to 54 years old
$2,000,000
8 day(s)
Travel medical insurance up to 64 years old
$5,000,000
8 day(s)
Travel medical insurance 65+
Trip Cancellation Insurance
Trip Interruption Insurance
Common Carrier Travel Accident Insurance
$500,000
Flight Delay Insurance
$500
Delayed Baggage Insurance
$500
Lost/Stolen Baggage Insurance
$500
Auto Rental Loss/Insurance
$65,000
48 day(s)
Hotel/Motel Burglary Insurance
$1,000

This section sets out the maximum coverage amounts or periods. Please review your insurance certificate for details, exclusions and limitations of your coverage, terms and conditions apply.

Other Insurance

Insurance Name
Included
Amount
Duration
Extended Warranty
1 year
Purchase Protection
90 day(s)
Mobile Device Insurance
Price Protection
Insurance Document

Our review

BMO CashBack® World Elite®* Mastercard®* is one of Canada’s best cash back Mastercard credit cards.

Right now, you can get up to $650 in value, including $40 cash back each month in your first year. Plus, you won’t have to pay the $139 annual fee in the first year.

Additionally, you benefit from a 0% introductory interest rate on balance transfers for 12 months, as well as a 2% balance transfer fee.

With the BMO CashBack® World Elite®* Mastercard®*, you get great cash back rates in the categories that matter most:

  • 5% on groceries*
  • 4% on transit including ride sharing, taxis and public transportation*
  • 3% on gas and electric vehicle charging*
  • 2% on recurring bill payments*
  • 1% cash back on all other purchases, with no limit on the amount of cash back you can earn*

You also enjoy practical benefits like free membership in Mastercard Travel Pass provided by DragonPass, free roadside assistance services, discounts on car rentals with National, Alamo and Enterprise, as well as comprehensive travel and purchase insurance coverage.

Finally, enjoy six months of Instacart+ membership and a monthly $10 Instacart credit when you sign up with your eligible BMO credit card.

Frequently Asked Questions

Alternative Cards

4

Receive our newsletter every week!

Savings this way:

Milesopedia