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
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
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
“Desjardins® Cash Back Mastercard® Review (2026)” — CreditCardGuru, https://creditcardguru.ca/cards/desjardins-cash-back-mastercard, updated June 7, 2026.