BMO CashBack World Elite Mastercard
BMO Bank of Montreal · Cashback · Statement Credit
This comprehensive guide covers the BMO CashBack World Elite Mastercard's reward rates, fees, and terms — updated regularly from official sources — to help you decide if this card fits your spending. The BMO CashBack World Elite Mastercard from BMO Bank of Montreal offers cashback rewards credited directly to your statement at 5% (up to C$200 per cycle). Top earning categories include 5% on rotating categories and more. Annual fee is C$120 (waived for first year; rebate available with bmo premium banking package).
Best for: Dining, Grocery, General Online, Online Retail
Reward Examples
Spend C$1,000 on Dining → earn C$50 (5%) · 5% on rotating categories
Spend C$1,000 on General online → earn C$15 (2%) · 1.5% on everything else
Official product page → Official rules →
Waiver: Waived for first year; rebate available with BMO Premium banking package
Reward Rules
- 5% 5% on rotating categories (cap: C$200)
- 2% 1.5% on everything else
Important Notes
- 5% rotating categories apply on up to CAD 4,000 spend per category per quarter.
- Rotating categories include dining, grocery, gas, and transit on a quarterly schedule.
- Annual fee waived for first year; CAD 120 thereafter.
How to Apply
- Apply online: Official application page →
- Credit score: Most rewards cards require good to excellent credit (typically 670+ FICO).
- Issuer rules: Some issuers restrict approvals (e.g. Chase 5/24). Verify current eligibility before applying.
BMO CashBack World Elite Mastercard vs Similar Cards
- Alterna Savings Cash Back Visa — 2% top rate · C$0
- BMO Cash Back Mastercard — 3% top rate · C$0
- BMO eclipse Visa Infinite Card — 5% top rate · C$120
Maximize Your Rewards
To earn the highest rewards, use the BMO CashBack World Elite Mastercard for its bonus categories: Dining, Grocery, General Online, Online Retail, Electronics Accessories.