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 back
RBC® Cash Back Preferred World Elite Mastercard® review
3.3Rated by the CreditCardGuru Editorial Team
A straightforward 1.5% flat-rate card, but the $25,000 cap, thin insurance and $99 fee leave it trailing the best flat-rate cash back cards in Canada.
At a glance
- Annual fee
- $99
- Foreign tx fee
- 2.5%
- Network
- MASTERCARD
- Rewards
- cash back
- Purchase APR
- 20.99%
Rewards & earn rates
| All purchases1.5% on the first $25,000 in annual purchases, 1% thereafter; no overall earning limit | 1.5% |
Pros & cons
Pros
- Simple flat-rate cash back with no category tracking
- World Elite perks including lounge network access at a moderate fee
Cons
- Rate drops to 1% after $25,000 in annual spend
- No travel medical or trip cancellation insurance
- No welcome bonus currently offered
Perks & insurance
Key perks
- Flat 1.5% cash back on everything including online and wholesale retailers
- Mastercard Travel Pass (DragonPass) access to 1,300+ airport lounges
- 12-month complimentary DoorDash DashPass
- Mastercard Travel Rewards offers when spending abroad
- Free additional cards
Insurance
- Purchase security and extended warranty (120 days; triples warranty up to 2 years)
- Auto rental collision/loss damage waiver
Rates & fees
- Annual fee
- $99
- Purchase interest
- 20.99%
- Cash advance
- 22.99%
- Foreign transactions
- 2.5%
- Min. personal income
- $80,000
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
“RBC® Cash Back Preferred World Elite Mastercard® Review (2026)” — CreditCardGuru, https://creditcardguru.ca/cards/rbc-cash-back-preferred-world-elite-mastercard, updated June 7, 2026.