American Express Gold Rewards Card®

BMO CashBack® World Elite®* Mastercard®*

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American Express Gold Rewards Card® vs BMO CashBack® World Elite®* Mastercard®*

Which one is better? Both cards worked out on the same spending: rewards, welcome bonus, fees and perks, line by line.

4.3

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Finly rebate

$120

4.1

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Welcome bonus

Each offer as the issuer words it. The numbers below show whether your spending reaches it.

The offer

Earn up to 60,000 Membership Rewards^® points
New American Express^® Gold Rewards Cardmembers, earn 5,000 Membership Rewards^® points for each monthly billing period in which you spend $1,000 in net purchases on your Card

Get up to $650 in value and the annual fees waived in the first year. Plus, get a 0% introductory interest rate on Balance transfers for 12 months with a 2% transfer fee.*

$650 in value is made up of:

Up to $480 Welcome Offer Cash Back: Receive $40 Bonus Cash Back when you spend a minimum of $2,000 on net card purchases per billing cycle in the first twelve (12) billing cycles after the account open date.*
$139: Annual Fee Waiver: The primary cardholder annual fee of $139 will be rebated in the first year and will appear as a fee and a credit on the primary cardholder’s first statement.*
$75 market value: Roadside Assistance: You will receive a complimentary membership in the Dominion Automobile Association (DAA) and the benefits of their BMO Roadside Assistance Program (Basic Coverage). Membership terms and plan features are described here: bmo.com/roadsideassistancebasic.*

What each card is worth

Rewards, the welcome bonus and any Finly rebate in, the annual fee and FX fees out, all on your spending.

Worked out on a typical $2,000 a month of spending. Enter yours to see your own numbers.

$1,427

First-year value

$1,125

$287

Every year after

$386

Amex Gold is worth $301 more to you in year one.

From year two, BMO CashBack World Elite pulls ahead by $100 a year.

How the first year adds up

Annual rewards

$536.71

28,248 points a year

Welcome bonus

+ $1,140

first year only

Annual fee

− $250

First-year value

$1,426.71

1.9¢ a pointAmerican Express Membership Rewards, redeemed for Transfer to Airline Partners

Annual rewards

$525.28

cash back a year

Welcome bonus

+ $480

first year only

Annual fee

$139− $0

$139 from year two

Finly rebate

+ $120

paid by FinlyWealth

First-year value

$1,125.28

Where each card earns

A year of your spending at each card's own reward rates, most first.

2xGas, Groceries, Pharmacy

9,804 pts

$186.28

2xTravel

2,400 pts

$45.6

1xAll other purchases

16,044 pts

$304.84

5%Groceries

$212.85

3%Gas

$64.8

2%Recurring Transactions

$48

4%Rental Car & Taxi, Public Transportation

$38.4

1%All other purchases

$142.23

Fees, rates and eligibility

What each card costs to hold and to use abroad, and who it's for.

$250

Annual fee

$139

$0 the first year

1st free, $50 thereafter

Additional cards

$50

Interest rates

Purchase:

21.99%¹

Cash Advance:

21.99%¹

¹ Subject to approval. The preferred rate for purchases is 21.99% and funds advances is 21.99%. If you have Missed Payments, the applicable rates for your account will be 25.99% and/or 29.99%. See the information box included with the application for the definition of Missed Payment and which rates apply to charges on your account and other details.

Purchase:

21.99%

Cash Advance:

23.99%

Balance Transfer:

23.99%

Recommended credit score

300

Poor

693

Fair

743⁎

Good

790⁎

Very Good

833⁎

Excellent

⁎Estimates based on TransUnion scoring

300

Poor

560

Fair

660⁎

Good

725⁎

Very Good

760⁎

Excellent

⁎Estimates based on Equifax scoring

Income required

Min Personal Income:

N/A

Min Household Income:

N/A

Min Personal Income:

$80,000

Min Household Income:

$150,000

How each card earns

The earn rates and caps, as each issuer sets them.

2x points per $1 spent on gas, groceries and drugstore purchases
2x points per $1 spent on travel (eligible flights, hotels, tours and more)
1x point per $1 spent on all other eligible purchases

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*

Points and how we value them

Points become dollars at each card's best redemption. Here's the value we used, and every other way to spend them.

Loyalty program

American Express Membership Rewards

We count each point at 1.9¢ a point, what it's worth redeemed for Transfer to Airline Partners, its best value. Every dollar figure above uses that value.

Cash back: every dollar it earns counts as a dollar, so there's nothing to convert.

Point redemption options

Most Optimal

Transfer to Airline Partners

1.9¢ / point

Fixed Point Travel Program

1.16¢ / point

Transfer to Hotel Partners

1.08¢ / point

Flexible Points Travel Program

1¢ / point

Statement Credits (Cash)

1¢ / point

Gift Cards

0.91¢ / point

Amazon.ca

0.7¢ / point

Merchandise

0.63¢ / point

Nothing to redeem: it pays cash back.

Insurance and perks

What both cards include comes first in each list.

Insurance

Lost or Stolen Baggage

$500

Baggage Delay

$500

Car Rental Damage & Theft

yes

Common Carrier Travel Accident Insurance

$500,000

Extended Warranty

Up to 1 year

Purchase Protection

90 days

Hotel Burglary Insurance

$500

Travel Medical Insurance (64 & under)

15 days

Flight Delay

$500

Trip Cancellation

$1,500 per person, $3,000 combined

Trip Interruption

$1,500 per person, $6,000 combined

Lost or Stolen Baggage

$500/person, $1,000 maximum*

Baggage Delay

$500/person, $1,000 maximum After 6 hours*

Car Rental Damage & Theft

$65K MSRP up to 48 days*

Common Carrier Travel Accident Insurance

$500,000

Extended Warranty

1 year

Purchase Protection

90 days

Hotel Burglary Insurance

$1,000

Travel Medical Insurance (64 & under)

$5M up to 8 days per covered person*

Flight Delay

$500 After 4 hours delay*

Perks

American Express® Experiences

Status lift

Hertz Gold Plus Rewards® loyalty program

Extra points

Earn 2 points on Amex Travel Online purchases and extra points on American Express offers

Travel Credit

$100

Nexus Program Rebate

$50 statement credit every 4 years

Complimentary Hotel Benefits

Hotels booked American Express Travel

Airport Lounge - Priority Pass

Pass only. No Complimentary visits!

Airport Lounge - Plaza Premium

4 Free complimentary visits

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.*

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.*

Roadside Assistance

Complimentary Roadside Assistance Program*; Including battery boosts, flat-tire change, lockout service and towing – a $75/year value.*

Discount

Enjoy six months of Instacart+ and a $10 monthly Instacart credit when you enroll your eligible BMO Credit Card.*

Our take

Why we like it

The American Express® Gold Rewards Card is an excellent choice for travelers seeking an entry-level card that offers a strong balance of generous travel benefits without excessive costs. With a relatively low annual fee, this card provides flexibility and a range of perks that make it stand out among other options. It’s ideal for those who want to maximize their travel rewards without being tied to a specific airline or compromising on the benefits offered.

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

Flexible rewards
Travel perks
Comprehensive insurance
Multiple redemption options
Instant decision. No credit impact.

Impressive cashback rates
Rare roadside assistance
Comprehensive insurance and benefits
High first-year value

Cons

High annual fee
Foreign transaction fees
Limited senior travel insurance
Limited acceptance

Lacks restaurant optimization
Low monthly cashback caps

More comparisons

Other cards we've put each of these up against.

Legal

*Terms and conditions apply.

Subject to approval. The preferred rate for purchases is 21.99% and funds advances is 21.99%. If you have Missed Payments, the applicable rates for your account will be 25.99% and/or 29.99%. See the information box included with the application for the definition of Missed Payment and which rates apply to charges on your account and other details.

American Express is not responsible for maintaining or monitoring the accuracy of information on this website. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.

*Terms and conditions apply

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