This premium card allows users to earn cash back on groceries, gas, transit, bills, and more. You can redeem your cash back any time starting at just $1. New users benefit from a waived annual fee for the first year and a strong welcome offer. It also includes travel insurance, roadside assistance, and global discounts through Mastercard partners, making it ideal for both everyday use and travel.
Whether you are looking for rewards on daily spending or added protection during trips, the BMO CashBack® World Elite®* Mastercard® delivers. It’s built for those who want both value and flexibility in a single credit card.
Main features of BMO CashBack® World Elite®* Mastercard®
The card offers up to 5% cash back on groceries, 4% on public transit, 3% on gas and EV charging, and 2% on recurring bills. All other spending earns 1% cash back. There are no limits on how much cash back you can accumulate. Additional perks include $5 million in travel emergency coverage, roadside assistance, and exclusive deals through Mastercard Travel Rewards and DragonPass lounge access.
Approval requirements
To qualify, you must have a minimum annual income of $80,000 as an individual or $150,000 as a household. A good to excellent credit score is recommended. You will need to provide proof of identity and income, along with a valid Canadian address. The bank may also check your credit history and debt-to-income ratio before approval.
Benefits of BMO CashBack® World Elite® Mastercard®
The card’s top benefit is its high cash back rate, especially on groceries. You can redeem rewards any time with no expiry as long as your account is active. Cardholders get access to travel discounts, insurance, Mastercard Travel Pass, and BMO PaySmart™ plans to split large purchases into smaller, manageable payments. This flexibility makes the card stand out in the market.
Exclusive highlight
The biggest draw of the BMO CashBack® World Elite® Mastercard®* is its unmatched 5% cash back on groceries, the highest rate available in Canada. Frequent travelers will appreciate the savings on Shell® fuel and hotel discounts. Combined with comprehensive travel insurance and emergency services, this card offers value far beyond just cash back.
Disadvantages and considerations of BMO CashBack® World Elite®* Mastercard®
Despite its many benefits, there are some points to consider. After the first year, the $120 annual fee applies. The high income requirement may also limit access for some applicants. Additionally, the rewards structure favors users who spend heavily in the bonus categories.
The card carries a 21.99% interest rate for purchases and 23.99% for cash advances (21.99% in Quebec). It’s essential to pay your balance in full to avoid costly interest charges and fully enjoy the rewards.
How to apply for the card
Visit the BMO website and select the BMO CashBack® World Elite® Mastercard®* to start your application. Complete the form with your personal and financial information, and upload any required documents. BMO typically responds within 60 seconds. Once approved, your card will be delivered, and you can activate it online or via the BMO mobile app.
Who is BMO CashBack® World Elite®* Mastercard®* best for?
This card is ideal for high earners who want to maximize rewards on groceries, gas, transit, and recurring bills. Frequent travelers will benefit from the insurance coverage, fuel discounts, and airport lounge access. If you consistently spend in these categories and pay off your balance monthly, this card can offer excellent ongoing value.
If you meet the income requirements and want a flexible rewards program with premium benefits, the BMO CashBack® World Elite®* Mastercard®* is an excellent choice. It combines the practicality of high cash back rates with valuable travel perks to enhance your everyday spending.