BMO CashBack® World Elite®* Mastercard®*
- Industry-leading earn rate of 5% cash back on groceries, 4% on transit, 3% on gas/EV charging, and 2% on recurring bills.
- Welcome offer up to $650 in value, including a first-year fee waiver and a 10% cash back boost.
- Complimentary membership in Mastercard Travel Pass provided by DragonPass.
- Features robust out-of-province emergency medical insurance and extended warranty plus.
This card is built for high everyday spending, especially if groceries, transit and gas make up a large share of your budget. It stands out for one of the strongest grocery earn rates in Canada and flexible cash back redemption starting at just $1.
Welcome bonus
Earn up to $650 in value, including a first-year fee waiver and $40 monthly cash back bonus.
worth approximately $480
~$600 first-year value after $0 first-year fee
Earn rates
Estimate annual rewards
You'd earn ~$600/year
Key facts
Annual fee
$120.00
$50 for Additional Card.
Purchase APR
21.99%
Cash advance APR
23.99%
Foreign transaction fee
2.5%
Income required
$80,000 personal / $150,000 household
Credit score
725+
Quebec residents — terms may differ
Cash advance rate is 21.99% in Quebec (vs 23.99% elsewhere — a 2% reduction), and a 5% minimum monthly payment applies.
Rates and fees sourced from BMO's official card page →
Perks & benefits
Industry-leading earn rate of 5% cash back on groceries, 4% on transit, 3% on gas/EV charging, and 2% on recurring bills.
Welcome offer up to $650 in value, including a first-year fee waiver and a 10% cash back boost.
Complimentary membership in Mastercard Travel Pass provided by DragonPass.
Features robust out-of-province emergency medical insurance and extended warranty plus.
Insurance coverage
- Out-of-province/out-of-country emergency medical.
- Collision damage waiver.
- Baggage and hotel burglary.
- Purchase protection plus and extended warranty plus.
Pros & cons
Pros
- Excellent grocery earn rate for everyday household spending
- Roadside assistance adds practical everyday cardholder value
- Flexible cash back redemption starts from as little as $1
- Strong first-year offer improves overall card value
Cons
- High income requirement may exclude many applicants
- Annual fee applies after the introductory first year
- Foreign transaction fee makes it weaker for travel spending
- Best value depends on spending often in bonus categories
Eligibility requirements
- Canadian resident, age of majority, no bankruptcy in 7 years.
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BMO CashBack® World Elite®* Mastercard®*
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