BMO
BMO CashBack World Elite Mastercard
4.5·Big grocery spenders who want the highest cash back rate
- Annual fee
- $120/yr
- Welcome bonus
- ~$260
- Top reward
- 5% groceries
- Highest headline grocery cash-back rate in Canada
- Strong transit and gas categories
cash back
SimplyCash Preferred Card from American Express review
4.4Rated by the CreditCardGuru Editorial Team
The best flat-rate cash back card in Canada: 2% everywhere plus 4% on gas and groceries easily clears the modest monthly fee for most households.
At a glance
- Annual fee
- $120
- Welcome bonus
- ~$200
- Foreign tx fee
- 2.5%
- Network
- AMEX
- Rewards
- cash back
- Purchase APR
- 21.99%
Rewards & earn rates
| Groceries4% up to $1,200 cash back per year (about $30,000 in spend), then 2% | 4% |
| Gas | 4% |
| Everything else | 2% |
Welcome offer: 10% cash back on all purchases for the first 3 months (up to $200), plus a $50 statement credit with a purchase in month 13 (up to $250 total) (10% applies to your first $2,000 in purchases in the first 3 months).
Pros & cons
Pros
- 2% on absolutely everything is the best flat rate in Canada
- 4% gas/grocery rates rival premium cards
- Unusually strong insurance for a cash back card
Cons
- Grocery bonus capped at $1,200 cash back per year
- Cash back is credited annually, not monthly
Perks & insurance
Key perks
- Flat 2% cash back on all purchases with no category juggling
- 4% on gas and groceries in Canada
- Travel medical insurance, rare for a cash back card
- Mobile device insurance up to $1,000
- Free additional cards
Insurance
- Travel emergency medical $5,000,000 (15 days, under age 65)
- Travel accident insurance $100,000
- Flight delay, baggage delay and lost/stolen baggage ($500 each)
- Rental car theft and damage (vehicles up to $85,000, 48 days)
- Hotel/motel burglary $500
- Mobile device insurance $1,000
- Purchase protection (90 days) and extended warranty (+1 year)
Rates & fees
- Annual fee
- $120
- Purchase interest
- 21.99%
- Cash advance
- 21.99%
- Foreign transactions
- 2.5%
Charged as $9.99 per month ($119/year for Quebec residents).
Last updated June 7, 2026Reviewed by CreditCardGuru Editorial Team
Similar cards to consider
Top pickCIBC
CIBC Dividend Visa Infinite Card
4.5·Households with heavy grocery and gas spend who want maximum cash back.
- Annual fee
- $120/yr
- Welcome bonus
- ~$350
- Top reward
- 4% groceries
- 4% on gas and groceries is among the highest in Canada
- Strong 2% middle tier covers dining, transit and bills