PC World Elite Mastercard 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.
Welcome bonus
Each offer as the issuer words it. The numbers below show whether your spending reaches it.
The offer
The offer
20,000 PC points ($20 value)
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.
$284
First-year value
$1,125
$264
Every year after
$386
BMO CashBack World Elite is worth $842 more to you in year one.
It stays ahead after that, by $123 a year.
How the first year adds up
Annual rewards
$263.51
263,508 points a year
Welcome bonus
+ $20
first year only
Annual fee
− $0
no annual fee
First-year value
$283.51
Annual rewards
$525.28
cash back a year
Welcome bonus
+ $480
first year only
Annual fee
$139− $0
$139 from year two
Finly rebate
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.
30xParticipating grocery stores at President's Choice rewards
27,084 pts
$27.08
19xESSO, MobilGas
4,920 pts
$4.92
45xShoppersDrugMart
4,044 pts
$4.04
10xAll other purchases
227,460 pts
$227.46
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.
Annual fee
Additional cards
Interest rates
Interest rates
Purchase:
21.99%
Cash Advance:
22.97%
Purchase:
21.99%
Cash Advance:
23.99%
Balance Transfer:
23.99%
Recommended credit score
Recommended credit score
Income required
Income required
Min Personal Income:
$80,000
Min Household Income:
$150,000
Min Personal Income:
$80,000
Min Household Income:
$150,000
How each card earns
The earn rates and caps, as each issuer sets them.
- 45 points per $1 dollar spent at Shoppers Drug Mart® stores
- 30 points per $1 dollar spent at Atlantic Superstore, Extra Foods, Fortinos, Loblaws, Maxi, Maxi & cie, no frills, Provigo, Real Canadian Superstore, SaveEasy, SuperValu, valu-mart, Your Independent Grocer, Zehrs
- 20 points per $1 spent in PC travel
- 19 points per $1 dollar spent at ESSO and Mobil (it's 30 points per liter and the assumption of average gas price of $1.6 was made)
- 10 points per $1 dollar spent for everything else
- 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
Loyalty program
We count each point at 0.1¢ a point, what it's worth redeemed for Groceries, 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
Point redemption options
Most Optimal
Groceries
0.1¢ / point.svg)
Gas (Esso)
0.1¢ / point
Statement Credits (Cash)
0.07¢ / point
Nothing to redeem: it pays cash back.
Insurance and perks
What both cards include comes first in each list.
Insurance
Insurance
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Car Rental Damage & Theft
Up to 31 days
Extended Warranty
Doubled up to a year
Purchase Protection
90 days
Travel Medical Insurance (64 & under)
$1M, Up to 10 days
Car Rental Damage & Theft
$65K MSRP up to 48 days*Extended Warranty
1 yearPurchase Protection
90 daysTravel Medical Insurance (64 & under)
$5M up to 8 days per covered person*
Lost or Stolen Baggage
$500/person, $1,000 maximum*
Baggage Delay
$500/person, $1,000 maximum After 6 hours*
Common Carrier Travel Accident Insurance
$500,000
Hotel Burglary Insurance
$1,000Flight Delay
$500 After 4 hours delay*
Perks
Perks
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Concierge Services
Identity Theft Assistance
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
Why we like it
This is a great card to have in your arsenal if you frequently shop at Shoppers Drug Mart®, Loblaw's owned chains, and ESSO and Mobil gas stations, as you will earn significant rewards in these categories. The additional benefits, such as out-of-province medical insurance, car rental damage insurance, and concierge service, are impressive and typically only come with cards that have annual fees; however, you can access these benefits for free with this card. We do not recommend using this as your primary credit card but as a supplement to another primary card, especially because there are no fees. This is because the rewards on purchases outside the mentioned shops are very average, and many other cards offer much more substantial rewards for general use.
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
Pros
- No annual fee
- Decent insurance
- Decent rewards
- Impressive cashback rates
- Rare roadside assistance
- Comprehensive insurance and benefits
- High first-year value
Cons
Cons
- Limited rewards
- Income requirements
- Lacks restaurant optimization
- Low monthly cashback caps
More comparisons
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Legal
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