bmo cashback mastercard

BMO CashBack® Mastercard®

APPLY NOW
bmo cashback world elite mastercard

BMO CashBack® World Elite® Mastercard®

APPLY NOW

BMO CashBack® Mastercard® vs BMO CashBack® World Elite® Mastercard®: Which one is better?


bmo cashback mastercard

BMO CashBack® Mastercard®

3.2


RECOMMENDED CREDIT SCORE*

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

bmo cashback world elite mastercard

BMO CashBack® World Elite® Mastercard®

4


RECOMMENDED CREDIT SCORE*

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

Rewards Breakdown

Annual Rewards

$238.05


First Year Bonus Value

$94.3


Annual Fee

$0


First Year Value

$332.35

$238.05 in years after

Based on $2,000/mo average spending. Calculate your rewards.

Rewards Breakdown

Annual Rewards

$500.78


First Year Bonus Value

$184


Annual Fee

$120

$0

First Year Waived


First Year Value

$684.78

$380.78 in years after

Based on $2,000/mo average spending. Calculate your rewards.

Insurance Included*

  • extended warranty

    Extended Warranty

    1 year
  • purchase protection

    Purchase Protection

    90 days

Insurance Included*

  • extended warranty

    Extended Warranty

    1 year
  • purchase protection

    Purchase Protection

    90 days

  • lost baggage

    Lost or Stolen Baggage

    $500/person, $1,000 maximum
  • hourglass timer

    Baggage Delay

    $500/person, $1,000 maximum After 6 hours
  • car insurance

    Car Rental Damage & Theft

    $65K up to 48 days
  • heart lock

    Travel Accident

    $500,000
  • burglar

    Hotel Burglary Insurance

    $1,000
  • travel accident medical

    Emergency Out of province Medical

    $5M up to 8 days per covered person
  • hourglass timer

    Flight Delay

    $500 After 4 hours delay

Extra Benefits*

  • car rental

    Car Rental Discount

    Save up to 20% on National Car Rental® and Alamo Rent A Car® and up to 5% on Enterprise Rent-A-Car® at locations worldwide using the Car Rental Booking tool.
  • gas station

    Gas Discount

    Save up to 7 cents per litre at Shell stations when linked with Air Miles
  • discount

    Hotel Booking Discount

    Save up to 7% on your Booking.com prepaid hotel or property rental bookings at booking.com/mastercardcanada.

  • discount

    Discount

    Get 20% off admission to Cirque du Soleil shows touring Canada, and 15% off resident shows in Las Vegas.

Extra Benefits*

  • car rental

    Car Rental Discount

    Save up to 20% on National Car Rental® and Alamo Rent A Car® and up to 5% on Enterprise Rent-A-Car® at locations worldwide using the Car Rental Booking tool
  • gas station

    Gas Discount

    Get up to 7 cents off per litre on Shell® fuel, only for BMO cardholders.
  • discount

    Hotel Booking Discount

    Save up to 7% on your Booking.com prepaid hotel or property rental bookings at booking.com/mastercardcanada.

  • alcohol cheers

    Airport Lounge - Dragon Pass

    Complimentary membership in Mastercard Travel Pass provided by DragonPass. As a member enjoy lounge access for a fee of just US$32 per person, per visit.
  • tire

    Roadside Assistance

    Including battery boosts, flat-tire change, lockout service and towing – a $69/year value.
  • mobile phone wifi

    Global Data Roaming plan

    With FlexiRoam, stay connected around the world without a SIM card and get up to 15% off a Global Data Roaming plan plus up to 3GB of data, without any additional charges, if apply.

Interest Rates*

Purchase:

21.99%1

Cash Advance:

23.99%1

Balance Transfer:

23.99%1

Interest Rates*

Purchase:

21.99%

Cash Advance:

23.99%

Balance Transfer:

23.99%

Annual Fee*

$0

Annual Fee*

$120

$0

First Year Waived

Income Required*

Min Personal Income:

$15,000

Min Household Income:

N/A

Income Required*

Min Personal Income:

$80,000

Min Household Income:

$150,000

Welcome Bonus*

Get up to 5% cash back in your first 3 months and a 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee*.

Welcome Bonus*

Get up to 10% cash back in your first 3 months with an incremental cashback value of $194

Rewards Rate*

  • 3% cash back on grocery purchases (maximum $15 per statement)
  • 1% cash back on recurring payments like bills or subscriptions (maximum $5 per statement)
  • 0.5% cash back on all other purchases

Rewards Rate*

  • 5% cash back on groceries (capped at $500 spending per statement, maximum of $25 in cashback per statement cycle)
  • 4% cash back on daily transit (capped at $300 spending per statement, maximum of $12 in cashback per statement cycle)
  • 3% cash back on gas (capped at $300 spending per statement, maximum of $9 in cashback per statement cycle)
  • 2% cash back on recurring payments (capped at $500 spending per statement, maximum of $10 in cashback per statement cycle)
  • 1% cash back on all other eligible purchases.

Is this card worth it?

This is a great basic cashback credit card for those that prefer no annual fees while getting one of the highest cashback rates on groceries. You also have the additional benefit of redeeming cashback at any point without needing to wait.

Is this card worth it?

If you're seeking a cashback credit card, the BMO CashBack® World Elite® Mastercard® stands out for its excellent balance between rewards and benefits. It offers a robust rewards program and a comprehensive benefits list, making it a solid choice. The high first-year value is enhanced by the annual fee waiver, and those with a BMO Premium Chequing Account can enjoy continued fee waivers. While it's highly ranked for rewards alone, it may not be the absolute top choice if benefits are less important to you.

Pros

  • No annual fee, making it a cost-effective option.
  • Up to 3% cash back on groceries and 1% on recurring bill payments.
  • Save up to 7 cents per litre at Shell stations when linked with Air Miles.

Pros

  • Offers one of the highest cashbacks on groceries and gas, two of the most frequently spent categories, compared to other credit cards in Canada.
  • Includes roadside assistance, a rare but valuable benefit for people on the road.
  • Provides a comprehensive list of insurance coverage and benefits.
  • High first-year value.

Cons

  • Low base earn rate of 0.5% cash back on non-bonus purchases.
  • Limited insurance coverage (extended warranty and purchase protection only).

Cons

  • Does not include restaurant purchases as a reward category, which is one of the most important spending categories.
  • Monthly limits on cash back could be higher

Legal


*BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information. Check here for full details and current product information.
1 Terms and conditions apply. Each balance transfer is subject to a fee of 2% which will be charged to your account on the date the balance transfer is posted to your Account.

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