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
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BMO® CashBack Mastercard® review
4.3Rated by the CreditCardGuru Editorial Team
One of the best no-fee cash-back cards for groceries, and an easy approval that makes a strong first or student card. Mind the $500/month cap on the 3% rate.
At a glance
- Annual fee
- No annual fee
- Welcome bonus
- ~$125
- Foreign tx fee
- 2.5%
- Network
- MASTERCARD
- Rewards
- cash back
- Purchase APR
- 20.99%
Rewards & earn rates
| Groceries3% on up to $500/mo | 3% |
| Recurring bills | 1% |
| Everything else | 0.5% |
Welcome offer: 5% cash back in the first 3 months (up to $125).
Pros & cons
Pros
- Strong no-fee grocery rate
- Easy approval, good for students
- Solid welcome offer
Cons
- 3% capped at $500/month
- Only 0.5% on general spend
Perks & insurance
Key perks
- No annual fee
- 3% groceries with no fee
- Great first or student card
Insurance
- Purchase protection
- Extended warranty
Rates & fees
- Annual fee
- None
- Purchase interest
- 20.99%
- Cash advance
- 22.99%
- Foreign transactions
- 2.5%
Compare BMO® CashBack Mastercard® with…
Last updated June 1, 2026Reviewed by CreditCardGuru Editorial Team
Similar cards to consider
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
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Written by
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CreditCardGuru Editorial Team
Rewards & Cards Research
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Cite this page
“BMO® CashBack Mastercard® Review (2026)” — CreditCardGuru, https://creditcardguru.ca/cards/bmo-cashback-mastercard, updated June 1, 2026.