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Side by Side Credit Cards Comparison
Neo Mastercard®VSBMO CashBack® World Elite® Mastercard®
Which one is better?
Neo Mastercard®
3.2
RECOMMENDED CREDIT SCORE
300Poor
560⁎Fair
660⁎Good
725⁎Very Good
760⁎Excellent
BMO CashBack® World Elite® Mastercard®
4.1
RECOMMENDED CREDIT SCORE*
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
Welcome Bonus
N/A
Welcome Bonus
- Get up to $650 in value including $40 cash back each month in your first year. Plus we’ll waive the $120 annual fee in the first year.1
- Receive $40 Bonus Cash Back when you spend a minimum of $2,000 on net card purchases (less refunds and excluding cash advances, cash-like transactions, interest charges, fees, credit or debit adjustments) per billing cycle in the first twelve (12) billing cycles after the account open date.
- The primary cardholder annual fee of $120 will be rebated in the first year and will appear as a fee and a credit on the primary cardholder’s first statement. After the first year, the annual fee will appear on your Credit Card statement twelve (12) months after the Credit Card open date. The annual fee waiver Offer does not apply to the Additional Card annual fee.
- $69 of Roadside Assistance: With the BMO CashBack World Mastercard and BMO CashBack World Elite Mastercard, 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 in the Certificate you will receive.
- Plus, get a 0% introductory interest rate on Balance transfers for 12 months with a 2% transfer fee.*
Our Cash Offer
$50 Cash Rebate offer from FinlyWealth
Our Cash Offer
$125 Cash Rebate offer from FinlyWealth
Rewards Breakdown
Rewards breakdown is not available for this card.
Rewards Breakdown
Rewards breakdown is not available for this card.
How to Earn Rewards
- 1% cash back on grocery purchases up to $500 spending per month
- 1% cash back on gas purchases up to $500 spending per month
- Up to 15% cash back at over 10,000 Neo Partners
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.
Insurance Included
N/A
Insurance Included
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
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 personFlight Delay
$500 After 4 hours delay
Extra Benefits
N/A
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
Including battery boosts, flat-tire change, lockout service and towing – a $69/year value.
Hotel Booking Discount
Save up to 7% on your Booking.com prepaid hotel or property rental bookings at booking.com/mastercardcanada.Discount
Enjoy six months of Instacart+ and a $10 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
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:
19.99% - 29.99%
Cash Advance:
22.99% - 31.99%
Balance Transfer:
22.99% - 31.99%
Interest Rates
Purchase:
21.99%
Cash Advance:
23.99%
Balance Transfer:
23.99%
Annual Fee
$0
Annual Fee
$120
$0$
First Year Rebated
Income Required
Min Personal Income:
N/A
Min Household Income:
N/A
Income Required
Min Personal Income:
$80,000
Min Household Income:
$150,000
Is this card worth it?
The Neo Credit Card is special because it earns rewards based on whether the merchant is a partner or not. Most of the time, the cashback earned at these partners is the highest possible compared to all other credit cards. However, we don't recommend using this card as your main credit card and suggest using it only at partner merchants. This is because the rewards at non-partner merchants are very small, and most merchants are not partnered with Neo.
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
- Instant approval and access
- Unique partner cashback program
- Unique benefit system
- Balance protection
Pros
- Impressive cashback rates
- Rare roadside assistance
- Comprehensive insurance and benefits
- High first-year value
Cons
- Insurance and benefit fees
- Spending caps
- Low cashback rates
Cons
- Lacks restaurant optimization
- Low monthly cashback caps
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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.
*Terms and conditions apply
- BMO CashBack World Elite Mastercard applications must be received between December 15, 2025, and October 31, 2026, to be eligible for this offer. This offer is not available to current or former cardholders who reinstate a closed account or open a new account for the same card during the Offer Period. If you cancel your card within ninety (90) days from the date your account is opened, all CashBack rewards earned within that period will be cancelled. This offer may be withdrawn or changed without notice.
$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 (less refunds and excluding cash advances, cash-like transactions, interest charges, fees, credit or debit adjustments) per billing cycle in the first twelve (12) billing cycles after the account open date.
$120: Annual Fee Waiver
- The primary cardholder annual fee of $120 will be rebated in the first year and will appear as a fee and a credit on the primary cardholder’s first statement. After the first year, the annual fee will appear on your Credit Card statement twelve (12) months after the Credit Card open date. The annual fee waiver Offer does not apply to the Additional Card annual fee.
The first-year annual fee waiver offer is limited to new BMO CashBack World Elite Mastercard accounts and will not be awarded to current or former cardholders who reinstate a closed account, product transfer, or who open a new account for the same card during the Offer Period.
$69: Roadside Assistance
- With the BMO CashBack World Mastercard and BMO CashBack World Elite Mastercard, 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 in the Certificate you will receive.
DAA requires that BMO provide any information reasonably required solely for the purpose of confirming that you are covered by the Program.