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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RBC® Cash Back Mastercard® review
3.4Rated by the CreditCardGuru Editorial Team
A decent no-fee grocery card, especially for students and newcomers, but the 0.5% base rate makes it a poor everyday catch-all compared with other free cash back cards.
At a glance
- Annual fee
- No annual fee
- Welcome bonus
- ~$70
- Foreign tx fee
- 2.5%
- Network
- MASTERCARD
- Rewards
- cash back
- Purchase APR
- 20.99%
Rewards & earn rates
| Grocery store purchases2% on the first $6,000 in annual grocery purchases, 1% thereafter | 2% |
| All other qualifying purchases0.5% on the first $6,000 in annual purchases, 1% thereafter | 0.5% |
Welcome offer: Up to 7% cash back for the first 3 months on up to $1,000 in total purchases (5% bonus on top of standard rates). Apply by September 9, 2026. (Bonus applies to the first $1,000 in purchases within 3 months).
Pros & cons
Pros
- Strong no-fee grocery earn rate
- Flexible on-demand cash back redemption
Cons
- Weak 0.5% base rate on non-grocery spending (first $6,000)
- No travel insurance
Perks & insurance
Key perks
- 2% cash back on groceries with no annual fee
- Unlimited total cash back with no earning ceiling
- Redeem any time once your balance reaches $25
- 3-month complimentary DoorDash DashPass
- Save 3 cents/L and earn 20% more Petro-Points at Petro-Canada
Insurance
- Purchase security and extended warranty
Rates & fees
- Annual fee
- None
- Purchase interest
- 20.99%
- Cash advance
- 22.99%
- 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
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Cite this page
“RBC® Cash Back Mastercard® Review (2026)” — CreditCardGuru, https://creditcardguru.ca/cards/rbc-cash-back-mastercard, updated June 7, 2026.