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  • $120 Annual fee
  • 10% Welcome Bonus
  • 5% Rewards Rate

BMO CashBack World Elite MasterCard Overview

The BMO CashBack World Elite MasterCard has some of Canada’s best cashback earning rates. Cardholders can earn 5% on groceries, a rate many credit cards don’t offer.

It also has an exciting sign-up bonus of 10% cashback in the first three months. In addition, you won’t be charged the annual fee of $120 for the first year.

The BMO CashBack World Elite MasterCard provides a superior extended warranty, purchase protection, and free roadside assistance. You will also receive all the benefits of holding a World Elite Mastercard. This includes access to free Wi-Fi and airport lounges worldwide.

Essential Information

Network

Mastercard

Provider

Bank of Montreal

Card Type

Cashback

Rewards

As a BMO CashBack World Elite MasterCard holder, you’ll receive a welcome bonus and earn points on everyday purchases.

Welcome Bonus

New cardholders will receive:

  • Up to 10% cashback in the first three months
  • The $120 annual fee waived in the first year from account opening
  • 2,000 Bonus Miles for spending at least $3,000 in net card purchases within the first three months of account opening

Cashback

As a holder of the BMO CashBack World Elite MasterCard, you will earn the following cashback rewards:

  • 5% on food and essentials in Canada
  • 4% on transit, including taxis, public transportation, and ride sharing
  • 3% on gas and electric vehicle charging
  • 2% on recurring bills for streaming services, phone payments, and gym memberships
  • 1% on all other purchases

Travel Insurance

The BMO CashBack World Elite MasterCard comes with several insurance options. This includes:

  • Emergency travel and medical protection, including out-of-province/out-of-country emergency medical benefits. This applies for journeys up to 8 days. You can receive up to $2 million for eligible medical expenses.
  • Car rental insurance covers damage or theft to a rental car with an MSRP up to a maximum of $65,000.
  • Car rental accidental death and dismemberment insurance with a maximum payout of $300,000 per accident.
  • Flight delay insurance to reimburse you for a maximum of $500 per account per trip.
  • Baggage loss insurance covers the actual cash value of lost baggage and personal property. You get coverage of up to $750 per insured person to a maximum of $2,000 per account per trip.
  • Baggage delay insurance to cover up to $200 for the purchase of essential items.

Other Perks

  • Free roadside assistance includes a flat-tire change, lockout service, towing, and battery boost.
  • Free access to 1 million Wi-Fi hotspots worldwide with Boingo Wi-Fi for cardholders.
  • Complimentary concierge services you can access for free 24/7.
  • Access to airport lounges with a complimentary Mastercard Airport Experiences membership.
  • Extended Warranty Plus to increase the original manufacturer’s warranty period up to a maximum of two additional years.
  • Purchase Protection Plus for up to 180 days from the date of purchase.

Costs and Fees

  • Annual fee: $120 (the first year waived)
  • Additional card fee: $50
  • Purchase interest rate: 20.99%
  • Interest rate on cash advances: 23.99% (21.99% for Quebec residents)
  • Balance transfer interest rate:  23.99%
  • Overlimit fee: $29
  • Foreign transaction fee: 2.5%

FAQ

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.

BMO CashBack World Elite MasterCard Details

Provider
BMO
Network Provider
Mastercard
Card Type
Balance Transfer, Rewards
Rewards Type
Cashback
Annual Fee
$120
Purchase Interest Rate
20.99%
Cash Advance Rate
23.99%
Balance Transfer Rate
23.99%
Credit Needed
Good (660 - 724)
                                                                                                                    

BMO CashBack World Elite MasterCard Offices

Phone Number
1 877 225 5266
Email
support@bmo.com
Hours
NA
Website
www.bmo.com
Address
595 Burrard St Vancouver BC V7X 1L7 Canada
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BMO CashBack World Elite MasterCard Card Details
  • Min. Credit :
    Good (660 - 724)
                                                                    
  • Card Type : Balance Transfer, Rewards
  • Reward Type : Cashback
  • Providers : BMO
  • Network Provider : Mastercard
BMO CashBack World Elite MasterCard Social Media
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Characteristics
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  • Rewards
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