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BMO® CashBack® World Elite® Mastercard® review

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Advertiser Disclosure

Annual Fee
Interest Rate: Purchases
Interest Rate: Purchases
Balance Transfer
Balance Transfer
1 - 5% cashback
1 - 5% cashback
Signup Bonus
Signup Bonus

Informr score
The BMO® CashBack® World Elite® Mastercard® currently has an Informr score of 8.3 out of 10. This score is based on our evaluation of 12 sources including reviews from users and the web's most trusted critics.

Am I eligible?

BMO® CashBack® World Elite® Mastercard® is typically available to those with excellent credit scores (650 or greater).
To get this card, you must also:
Yes Be at least 18 years of age (AB, MB, ON, PE, QA, SK). 19 in all other provinces.
Yes Be a permanent or temporary resident of Canada
Yes Have a minimum personal income of $80000.

Note: This information is only intended as a guide. The final decision is up to the bank and your application could still be rejected even if you can answer 'Yes' to all the minimum criteria above. Always consider your options and your financial situation before you apply for a credit card.

What the Critics Are Saying...

Rewards Canada
Rewards Canada

The card simply doesn't match its competitors despite the bank's self proclaimed "highest cash back earn rate on groceries in Canada" and having some good features and benefits. Unfortunately even though the card has those 2%, 3%, 4% and 5% accelerated earn rates, they don't actually mean much when...

- Rewards Canada

The BMO CashBack World Elite Mastercard boasts the highest cash back rate in Canada on grocery purchases, offering you 5% cash back on your grocery haul. And, since it also offers good cash back rates on other practical spending, like gas and transportation, this card has the potential to earn subst...

- Renee Sylvestre-Williams, Forbes
Yore Oyster
Yore Oyster

With a generous welcome bonus of up to 10% cash back in the first three months and an introductory annual fee waiver for the first year, the BMO Cash Back World Elite Mastercard is one of Canada's best cards for accumulating cash back rewards. The card also offers excellent purchase protection cover...

- Victor, Yore Oyster
Frugal Flyer
Frugal Flyer

The BMO Cashback World Elite Mastercard is a formidable cash back earning credit card. Its strengths include category bonuses with grocery, transit, gas, and recurring payments, as well as a complimentary roadside assistance program and strong insurance benefits with purchase protection and extended...

- Reed Sutton, Frugal Flyer

Maybe the card isn’t for the budget conscious or the travel hacker. It screams city living and access to every convenience. If you see yourself interested in a consistent lifestyle, then this card is for you. Lifestyle happens all year, and with this card you don’t have to save up miles or points to...

- Stefani Balinsky, Hardbacon


Interest Rates
Regular APR Interest Rate 20.99%
Balance Transfer Interest Rate 23.99%

21.99% for Quebec residents

Cash Advance Interest Rate 23.99%

21.99% for Quebec residents

Rates & Fees
Annual Fee $120.00

Waived on the first year.

Balance Transfer Fee 5%


Cash Advance Fee 1%

Minimum of $5

Foreign Transaction Fee 2.5%

Transactions made in a foreign currency will be converted and posted to your account in Canadian currency.

Over Limit Fee $29.00
Late Payment Fee $0.00
Sign up bonus

Get up to 10% cash back on every credit card purchase in your first 3 months, up to a maximum of $2,600 ($260 cash back) in spendings.

All Purchases 1% cash back
Restaurants No
Gas 3% cash back
  • Including electric vehicle charging
  • Up to $300 per statement cycle then 1% after  (effectively capped at $3,600 per year)
Groceries 5% cash back

Up to $500 per statement cycle then 1% after (effectively capped at $6,000 per year)

Hotels No
Travel No
Pharmacy No
Bills 2% cash back
  • On recurring bills like your phone bill, gym membership, and favourite streaming services
  • Up to $500 per statement cycle then 1% after (effectively capped at $6,000 per year)
Additional Details
  • 4% cash back on transit including ride sharing, taxis, and public transportation
    • Up to $300 per statement cycle then 1% after  (effectively capped at $3,600 per year)
Features & Benefits
Additional Card Holders

$50 per year for each card

Travel Accident Insurance Yes
Car Rental Insurance Yes
Car Rental Discount Yes
Extended Warranty Yes
Purchase Protection Yes
Zero Liability Yes
No Foreign Transaction Fees No
Emergency Assistance Yes
Concierge Service No
Price Protection No
Fraud Protection Yes
Free Credit Scores No
Wireless Payments Apple Pay
Virtual Cards No
Additional Benefits
  • Roadside Assistance
  • Complimentary membership in Mastercard Airport Experiences provided by LoungeKey
  • Enjoy free access to over 1 million Wi-Fi hotspots around the world with Boingo Wi-Fi
  • Save up to 25% off rentals at participating National Car Rental and Alamo Rent a Car locations
Minimum Security Deposit $0
Minimum Age

18 years in AB, MB, ON, PE, QA, SK. 19 years in all other provinces.

Minimum Personal Income $80,000 per year

Temporary Residents No
Additional comments -
Terms & Conditions Official Terms & Conditions
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