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BMO CashBack World Elite Mastercard review

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/mo5%
Transit4%
Gas & EV charging3%
Recurring bills2%
Everything else1%

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 Tangerine Money-Back Credit Cardvs Rogers Red World Elite Mastercard
Last updated June 1, 2026Reviewed by CreditCardGuru Editorial Team

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