Side by Side Credit Cards Comparison
BMO CashBack® World Elite®* Mastercard®*VSBMO Preferred Rate Mastercard®*
Which one is better?
BMO CashBack® World Elite®* Mastercard®*
4.1
RECOMMENDED CREDIT SCORE*
BMO Preferred Rate Mastercard®*
4.5
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
Get a 0% introductory interest rate on Balance Transfers for 18 months with a 3% transfer fee and a $29 first-year annual fee rebate.*
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
No rewards earned on this card
Insurance Included
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*
Common Carrier Travel Accident Insurance
$500,000
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
Extended Warranty
Doubled up to 1 yearPurchase Protection
90 days
Extra Benefits
Discount
Enjoy six months of Instacart+ and a $10 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
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.*
Extra Benefits
Discount
Enjoy three months of Instacart+ and a $5 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
Interest Rates
Purchase:
21.99%
Cash Advance:
23.99%
Balance Transfer:
23.99%
Interest Rates
Purchase:
13.99%2
Cash Advance:
15.99%2
Balance Transfer:
15.99%2
2 Terms and conditions apply. Each balance transfer is subject to a fee of 3% which will be charged to your account on the date the balance transfer is posted to your Account.
Annual Fee
$139
$0$
$0 first year
Annual Fee
$29
$0$
$0 first year
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?
If you plan to carry a balance on your credit card, this card offers a very low interest rate. However, there are other cards with no annual fee and slightly lower interest rates that you might want to consider as well.
Pros
- Impressive cashback rates
- Rare roadside assistance
- Comprehensive insurance and benefits
- High first-year value
Pros
- Low interest rates
- Balance transfer welcome bonus
Cons
- Lacks restaurant optimization
- Low monthly cashback caps
Cons
- Annual fee
- Lacks significant benefits
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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.
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.