Annual fee
CA$120
Rewards rate
5%-1%
Welcome Bonus
CA$480
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
- 1%Cash back on all other purchases
Welcome Bonus:
Earn up to $480 cash back in the first year by earning a $40 bonus each month you spend $2,000.
Reward Rate:
Earn 5% cash back on groceries, 4% on transit, 3% on gas, 2% on recurring bills, and 1% on all other purchases.
What sets the BMO CashBack World Elite Mastercard apart is its impressive cash back structure, particularly for groceries and transit, making it a strong contender for those who prioritize everyday spending rewards.
Pros:
- High cash back rates on essential categories
- Annual fee waived in the first year
Cons:
- Requires high income for eligibility
- Annual fee applies after the first year
The BMO CashBack World Elite Mastercard is ideal for consumers who frequently spend on groceries and transit, as it offers high cash back rates in these categories, along with a competitive welcome bonus. However, the card's annual fee may be a consideration for those who do not maximize their rewards potential.