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 backno fee
Desjardins Cash Back Mastercard review
3.6Rated by the CreditCardGuru Editorial Team
A surprisingly well-rounded no-fee cash back card with 2% in useful categories and short-trip travel insurance, though the 0.5% base rate and low category caps limit its ceiling.
At a glance
- Annual fee
- No annual fee
- Foreign tx fee
- 2.5%
- Network
- MASTERCARD
- Rewards
- cash back
- Purchase APR
- 20.9%
Rewards & earn rates
| Restaurants2% on the first $3,600 in annual restaurant purchases, then 0.5% | 2% |
| Entertainment | 2% |
| Alternative transportationPublic transit, taxis, buses and EV charging stations | 2% |
| Pre-authorized payments2% on the first $3,600 in annual pre-authorized payments, then 0.5% | 2% |
| All other purchases | 0.5% |
Pros & cons
Pros
- Solid 2% categories on a no-fee card
- Rare no-fee card with travel medical insurance (3 days) and mobile device coverage
Cons
- Low 0.5% base rate on everything else
- $3,600 annual cap on the 2% restaurant and pre-authorized payment categories
Perks & insurance
Key perks
- Free 3-day travel insurance for trips up to 3 days
- Mobile device insurance up to $1,000
- Car rental discounts at Hertz (up to 15%), Thrifty and Dollar
- No annual fee for additional cards
- Cash back automatically credited at $25 accumulated
Insurance
- Travel emergency medical up to $5M (trips up to 3 days, age 75 and under)
- Trip cancellation ($500 before / $1,000 after departure)
- Baggage insurance up to $500 per person
- Mobile device insurance up to $1,000
- Purchase protection (90 days) and extended warranty (+1 year)
Rates & fees
- Annual fee
- None
- Purchase interest
- 20.9%
- Cash advance
- 21.9%
- Foreign transactions
- 2.5%
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