Side by Side Credit Cards Comparison
BMO CashBack® World Elite®* Mastercard®*VSSimplyCash® Card from American Express
Which one is better?
BMO CashBack® World Elite®* Mastercard®*
4.1
RECOMMENDED CREDIT SCORE*
SimplyCash® Card from American Express
3.8
RECOMMENDED CREDIT SCORE*
Welcome Bonus
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.*
Welcome Bonus
In your first 3 months as a new SimplyCash® Card from American Express Cardmember, you can earn a bonus 5% cash back on all purchases (up to $2,000 in purchases). That’s on top of your everyday cash back earn rates. That’s up to $100 in bonus cash back.
Our Cash Offer
$120 Cash Rebate offer from FinlyWealth
Our Cash Offer
N/A
Rewards Breakdown
Rewards breakdown is not available for this card.
Rewards Breakdown
Rewards breakdown is not available for this card.
How to Earn Rewards
- 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*
How to Earn Rewards
- 2% cash back on eligible gas and grocery purchases in Canada (up to $300 cash back annually)
- 1.25% cash back on all other eligible purchases
Insurance Included
Common Carrier Travel Accident Insurance
$500,000
Extended Warranty
1 year
Purchase Protection
90 days
Lost or Stolen Baggage
$500/person, $1,000 maximum*
Baggage Delay
$500/person, $1,000 maximum After 6 hours*.svg)
Car Rental Damage & Theft
$65K MSRP up to 48 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*
Insurance Included
Common Carrier Travel Accident Insurance
Up to $100,000Extended Warranty
1 yearPurchase Protection
90 days or theft up to $1,000 per occurrence
Extra Benefits
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.*
Extra Benefits
Amex Experiences™
Access events and special offers curated for Cardmembers with Amex Experiences™
Interest Rates
Purchase:
21.99%
Cash Advance:
23.99%
Balance Transfer:
23.99%
Interest Rates
Purchase:
21.99%2
Cash Advance:
21.99%2
2 If you have 2 separate missed Payments, the applicable rates for your account will be 25.99%. If you have 3 or more separate missed payments, the applicable rates will be 29.99%.
Annual Fee
$139
$0$
$0 first year
Annual Fee
$0
Income Required
Min Personal Income:
$80,000
Min Household Income:
$150,000
Income Required
Min Personal Income:
N/A
Min Household Income:
N/A
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.
Is this card worth it?
The SimplyCash® Card from American Express stands out for its no annual fee and strong cash-back earning potential, offering up to $100 in statement credits within the first 10 months. What makes it even more appealing are the unique perks, such as early access to concert tickets and extra layers of security for online shopping. These extra benefits, along with the affordability, make it a strong contender for those looking for a reliable cash-back card with no annual fee. It's an excellent choice for everyday spending while still enjoying exclusive Amex advantages.
Pros
- Impressive cashback rates
- Rare roadside assistance
- Comprehensive insurance and benefits
- High first-year value
Pros
- No annual fee
- Attractive cashback rates
- Exclusive Amex perks
- Instant decision. No credit impact.
Cons
- Lacks restaurant optimization
- Low monthly cashback caps
Cons
- Annual cashback cap
- Limited insurance
- Lower acceptance
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Legal
*Terms and conditions apply
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.
*Terms and conditions apply.
If you have 2 separate missed Payments, the applicable rates for your account will be 25.99%. If you have 3 or more separate missed payments, the applicable rates will be 29.99%.
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.