BMO CashBack® Mastercard®* World Eliteᴹᴰ*
on BMO's website
Pros & Cons
Pros
- +First Year Annual Fee Rebate ($139 annual fee rebated)
- +Welcome Bonus: $650
- +Up to 5x on Groceries
Cons
- –Foreign Transaction Fee (2.5%)
- –No airport lounge access despite fee
Our Review
BMO CashBack® World Elite®* Mastercard®* is one of Canada’s best cash back Mastercard credit cards.
Right now, you can get up to $650 in value, including $40 cash back each month in your first year. Plus, you won’t have to pay the $139 annual fee in the first year.
Additionally, you benefit from a 0% introductory interest rate on balance transfers for 12 months, as well as a 2% balance transfer fee.
With the BMO CashBack® World Elite®* Mastercard®*, you get great cash back rates in the categories that matter most:
- 5% on groceries*
- 4% on transit including ride sharing, taxis and public transportation*
- 3% on gas and electric vehicle charging*
- 2% on recurring bill payments*
- 1% cash back on all other purchases, with no limit on the amount of cash back you can earn*
You also enjoy practical benefits like free membership in Mastercard Travel Pass provided by DragonPass, free roadside assistance services, discounts on car rentals with National, Alamo and Enterprise, as well as comprehensive travel and purchase insurance coverage.
Finally, enjoy six months of Instacart+ membership and a monthly $10 Instacart credit when you sign up with your eligible BMO credit card.
Rewards
All Spending
1x
Cash Back pts per dollar
Groceries
5x
Transit
4x
Gas
3x
Streaming
2x
Recurring
2x
Credit Card Rewards Calculator
See how much you could earn with this card based on your spending.
Cashback earned
$762
$/yr
Estimated Value
$762
After Fees
+$762
1st Year Value
$1,412
incl. welcome bonus
Annual rewards breakdown
- Earn $650 Cash Back after $24,000 in purchases in 12 months
Travel Insurance
Travel Medical
Up to $2,000,000 / 8 days
Delayed Baggage
Up to $500
Lost Baggage
Up to $500
Flight Delay
Up to $500
Hotel Burglary
Up to $1,000
Travel Accident
Up to $500,000
Purchase Protection
Purchase Protection
Included
Extended Warranty
+1 year(s)
Auto Rental
Up to $65,000 / 48 days
Interest Rates
- Purchase Rate21.99%
- Cash Advance23.99%
- Balance Transfer Promo0%
- Foreign Transaction Fee2.5%
Eligibility
Personal Income
$80,000
Household Income
$150,000
Terms & Conditions
Card Features
Welcome offer: Get up to $650 in value and have the $139 annual fee waived for the first year. Plus, get 0% introductory interest rate on Balance transfers for 12 months with a 2% transfer fee.*
- Earn more cash back on the categories that mean the most:
- 5% on groceries*
- 4% on transit including ride sharing, taxis and public transportation*
- 3% on gas and electric vehicle charging*
- 2% on recurring bill payments like your monthly phone bill or favourite streaming service*
- 1% cash back on all other purchases, with no limit on the amount of cash back you can earn*
- Save up to 20% at National Car Rental® and Alamo Rent A Car® locations, and up to 5% at Enterprise Rent-A-Car® locations worldwide when you book using the vehicle rental tool*
- Purchase protection and extended warranty insurance on most items purchased with the card*
- Complimentary membership in Mastercard Travel Pass provided by DragonPass.*
- Complimentary roadside assistance services, including battery boost, flat tire change, door unlocking and vehicle towing — a value of $75 per year*
- You also benefit from collision damage waiver insurance for rental vehicles and 8-day coverage for medical expenses abroad up to $5 million*
- Shop, eat and relax with our partners to receive offers when you travel and make purchases with your BMO World Elite Mastercard outside Canada*
- Enjoy six months of Instacart+ and a $10 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
Legal
*Conditions apply.
BMO is not responsible for updating the content of this site. For the most up-to-date information, please click on the Online Application link.
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Conditions apply. All information is believed accurate but not guaranteed. Card details, rewards, and offers are subject to change at any time. Always verify the latest terms on the issuer’s website before applying. François Charron may receive compensation through affiliate links. This does not affect our editorial choices or card rankings. © 2026 BMO. All trademarks are property of their respective owners.