cash back

BMO® CashBack World Elite Mastercard® review

Name: BMO CashBack World Elite Mastercard
Brand: BMO

4.5Rated by the CreditCardGuru Editorial Team

The cash-back leader for grocery-heavy households. Just mind the $500/month cap on the 5% rate — beyond that you're earning 1%.

At a glance

Annual fee: $120
Welcome bonus: ~$260
Foreign tx fee: 2.5%
Network: MASTERCARD
Rewards: cash back
Purchase APR: 20.99%

Rewards & earn rates

Groceries5% on up to $500/mo	5%
Transit	4%
Gas & EV charging	3%
Recurring bills	2%
Everything else	1%

Welcome offer: Earn 10% cash back in your first 2 months (up to $260).

Pros & cons

Pros

Highest headline grocery cash-back rate in Canada
Strong transit and gas categories
Comes with World Elite travel perks

Cons

5% grocery rate is capped at $500/month
$80k personal income requirement

Perks & insurance

Key perks

World Elite Mastercard benefits
Mastercard Travel Pass (DragonPass) lounge access
Complimentary Boingo Wi-Fi

Insurance

Travel emergency medical
Trip cancellation & interruption
Rental car collision/loss damage
Extended warranty & purchase protection

Rates & fees

Annual fee: $120
Purchase interest: 20.99%
Cash advance: 23.99%
Foreign transactions: 2.5%
Min. personal income: $80,000

First-year annual fee often waived.

Compare BMO® CashBack World Elite Mastercard® with…

vs CIBC Dividend Visa Infinite Card vs Scotia Momentum Visa Infinite + Card

Last updated June 1, 2026Reviewed by CreditCardGuru Editorial Team

Similar cards to consider

Guru Pick CIBC®

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

Suggested score 720+ · Excellent credit

Apply now View details

Guru Pick Scotiabank®

Scotia Momentum® Visa® Infinite + Card

4.5·Households with large grocery and bill spending who want maximum cash back.

Annual fee: $120/yr
Welcome bonus: ~$420
Top reward: 4% groceries

Top-tier 4% on groceries and recurring bills
Multi-year winner of best cash back card awards

Suggested score 720+ · Excellent credit

Apply now View details

Disclaimer: This page is for informational purposes only and does not constitute financial, tax or legal advice. Card terms and offers change and may be out of date — always verify with the issuer before applying, and consult a qualified professional before making financial decisions. CreditCardGuru may earn a commission from cards featured on this site; this never influences our editorial ratings. See our advertiser disclosure.

Written by

CreditCardGuru Editorial Team

Rewards & Cards Research

Our editorial team independently researches and rates every credit card in Canada using a transparent, data-driven methodology. We update card terms continuously and never let issuer relationships influence our ratings.

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Cite this page

“BMO® CashBack World Elite Mastercard® Review (2026)” — CreditCardGuru, https://creditcardguru.ca/cards/bmo-cashback-world-elite, updated June 1, 2026.