- 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
Get up to CA$650 in value, including a first-year annual fee waiver and 10% cash back on up to CA$2,600 in purchases within the first 3 months.
Earn 5% cash back on groceries (up to CA$500/month), 4% on transit, 3% on gas, and 2% on recurring bills.
The BMO CashBack World Elite Mastercard earns its place among the top contenders due to its exceptional cash back rates across essential spending categories, particularly groceries and transit. With a generous welcome bonus and first-year fee waiver, it provides substantial value for eligible cardholders.
Pros:
- High cash back rates on essential categories
- First-year fee waiver
Cons:
- Annual fee after the first year
- Income requirement may limit eligibility
The BMO CashBack World Elite Mastercard is well-suited for individuals who frequently spend on groceries and transit, allowing them to maximize cash back rewards. With its competitive earning rates and a substantial welcome bonus, this card may appeal to those looking for a solid cash back option, particularly if the annual fee is justifiable based on their spending habits.