Annual fee
CA$139
Rewards rate
5%-1%
Welcome Bonus
CA$650
Apply Now →on BMO's website
- 5%Cash back on groceries
- 4%Cash back on transit
- 3%Cash back on gas
- 2%Cash back on recurring bills
Welcome Bonus:
Up to CA$650 in value including CA$40 cash back each month when you spend a minimum of CA$2,000 in your first year.
Reward Rate:
Earn 5% on groceries, 4% on transit, 3% on gas, and 2% on recurring bills.
The standout feature here is the high cash back rates on essential spending categories, making it an excellent choice for those who want to earn rewards on their daily expenses.
Pros:
- High cash back on everyday categories
- Flexible redemption options
Cons:
- Higher annual fee
- Strict income requirements
The BMO CashBack World Elite Mastercard is well-suited for individuals who frequently spend in categories that offer high cash back rates, such as groceries and gas, and who can take advantage of the welcome bonus to offset the annual fee. Its robust rewards structure makes it a strong option for those looking to maximize cash back on everyday purchases.