BMO CashBack World Elite Mastercard vs Tangerine Money-Back Credit Card

The short answer: for most people the BMO CashBack World Elite Mastercard is the better overall card — we rate it 4.5/5 and it shines if you want big grocery spenders who want the highest cash back rate. Choose the Tangerine Money-Back Credit Card instead if your priority is no-fee cash back with customizable bonus categories.

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	BMOMastercard BMO CashBack World Elite Mastercard BMO CashBack World Elite Mastercard	TangerineMastercard Tangerine Money-Back Credit Card Tangerine Money-Back Credit Card
Our rating	4.5	4.4
Annual fee	$120/yr	No annual fee
Welcome bonus	~$260	~$100
Foreign transaction fee	2.5%	2.5%
Rewards type	cash back	cash back
Top earn rates	5% groceries 4% transit 3% gas & ev charging	2% groceries (a 2% category) 2% gas (a 2% category) 2% recurring bills (a 2% category)
Purchase interest	20.99%	19.95%
Income required	$80,000 personal	None stated
Best for	Big grocery spenders who want the highest cash back rate	No-fee cash back with customizable bonus categories
	Apply now	Apply now

BMO CashBack World Elite Mastercard

Our winner

4.5

The cash-back leader for grocery-heavy households. Just mind the $500/month cap on the 5% rate — beyond that you're earning 1%.

Apply now

Tangerine Money-Back Credit Card

4.4

The smartest no-fee cash-back card for people who want to tailor their bonus categories. Pair it with a Tangerine savings account for a third 2% category.

Apply now

Frequently asked questions

Is the BMO CashBack World Elite Mastercard or the Tangerine Money-Back Credit Card better?

For most Canadians, the BMO CashBack World Elite Mastercard is the better overall pick (we rate it 4.5/5 vs 4.4/5). It's especially strong if you want big grocery spenders who want the highest cash back rate. The Tangerine Money-Back Credit Card can still win if you specifically want no-fee cash back with customizable bonus categories.

Which card has the lower annual fee?

The Tangerine Money-Back Credit Card has the lower annual fee (no annual fee vs a $120 annual fee).

Do either of these cards charge foreign transaction fees?

BMO CashBack World Elite Mastercard: 2.5% foreign transaction fee. Tangerine Money-Back Credit Card: 2.5% foreign transaction fee.