Is the BMO Cashback World Elite Mastercard Right for Me?
If you check off one or two of these boxes, you may get the BMO CashBack World Elite MasterCard:
- You’re a high-income ($80,000+) single who won’t be restricted by the strict spending caps
- One of your three top monthly expenses is groceries
- You're considering making a significant purchase and could use an extended warranty and purchase protection
How Do I Qualify for the BMO Cashback World Elite Mastercard?
These are the requirements you must meet to apply for the BMO CashBack World Elite MasterCard:
- Be a Canadian citizen or permanent resident
- Have no bankruptcy deceleration on record in the past seven years
- Be the age of majority in your province
- Have a credit score of at least 760
- Meet the minimum income requirements
What’s the Annual Fee and Income Requirement for This Card?
The annual fee is $120, which is waived in the first year. You need a personal annual income of $80,000 or a domestic income of $150,000 to qualify.
What Information Do I Need to Provide to Apply for My Card?
You will need to provide your:
- Name and date of birth,
- Social Insurance Number (SIN),
- Address, employment statement, and income source(s), and
- Rent or mortgage amount.
What Are the Cashback Rewards of the BMO Cashback World Elite Mastercard?
You can earn up to 5% on every eligible purchase with the BMO CashBack World Elite Mastercard.
What Are the Spending Limits for the Cashback Rewards?
The 5% and 2% cashback rewards have a spending limit of $500. As for the 4% and 3% cashback rewards, the spending limit is $300. There are no limits on how much you can earn with the 1% cashback on all other purchases.
What Perks Are Included With the BMO Cashback World Elite Mastercard?
You can benefit from World Elite Mastercard perks, free roadside assistance, and on-demand cashback redemption as a cardholder.