BMO® CashBack® World Elite® Mastercard® review

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Advertiser Disclosure

Interest Rate: Purchases
19.99%
Balance Transfer
22.99%
Rewards
1.5% cashback
Signup Bonus
-


9/10
Informr score
The BMO® CashBack® World Elite® Mastercard® currently has an Informr score of 9 out of 10. This score is based on our evaluation of 4 sources including reviews from users and the web's most trusted critics.

Am I eligible?


BMO® CashBack® World Elite® Mastercard® is typically available to those with excellent credit scores (650 or greater).
To get this card, you must also:
Yes Be at least 18 years of age (AB, MB, ON, PE, QA, SK). 19 in all other provinces.
Yes Be a permanent or temporary resident of Canada
Yes Have a minimum personal income of $80000.

Note: This information is only intended as a guide. The final decision is up to the bank and your application could still be rejected even if you can answer 'Yes' to all the minimum criteria above. Always consider your options and your financial situation before you apply for a credit card.

What the Critics Are Saying...


Money We Have

My BMO Cashback World Elite Mastercard review is neutral. I think there are better cash back cards out there but since you get a roadside assist membership and access to airport lounges, this card will appeal to certain people.

- Barry Choi, Money We Have
creditcardGenius

If you want an all-around premium cash back card with rewards, top-notch insurance coverage, roadside assistance, and World Elite perks ‒ then you’ve come to the right place.

- creditcardGenius
LowestRates.ca

The 4% cash back welcome rate is a good opportunity for credit card churners to take advantage of a high earning card for the first four months. However, with no signup bonus and a hefty annual fee, I don’t think this card is even good for that.

- Dominic Licorish, LowestRates.ca
Wallet Savvy

There are clearly more advantages than disadvantages when using this card. If the interest rate spooks you a little, there is one easy way of managing that. Definitely offers a lot of great benefits among the cash back cards. We give this card two thumbs up.

- Wallet Savvy

Details


Interest Rates
Regular APR Interest Rate 19.99%
Balance Transfer Interest Rate 22.99%
Cash Advance Interest Rate 22.99%
Rates & Fees
Annual Fee $120.00

Waived on the first year.

Balance Transfer Fee 3%

Maximum

Cash Advance Fee $3.50

$5.00 fee charged at a financial institution/ATM outside Canada.

Foreign Transaction Fee 2.5%

Transactions made in a foreign currency will be converted and posted to your account in Canadian currency.

Over Limit Fee $29.00
Late Payment Fee $0.00
Promotions
Sign up bonus

Get up to 5% cash back on every credit card purchase in your first 3 months, up to a maximum of $4,000 ($200 cash back) in spendings.

Rewards
All Purchases 1.5% cash back
Restaurants No
Gas No
Groceries No
Hotels No
Travel No
Pharmacy No
Bills No
Features & Benefits
Additional Card Holders Yes

$50 per year for each card

Travel Accident Insurance Yes
Car Rental Insurance Yes
Car Rental Discount No
Extended Warranty Yes
Purchase Protection Yes
Zero Liability Yes
No Foreign Transaction Fees No
Emergency Assistance Yes
Concierge Service No
Price Protection No
Fraud Protection Yes
Free Credit Scores No
Wireless Payments Apple Pay
Additional Benefits

- Roadside Assistance

- Complimentary membership in Mastercard Airport Experiences provided by LoungeKey

Eligibility
Minimum Security Deposit $0
Minimum Age

18 years in AB, MB, ON, PE, QA, SK. 19 years in all other provinces.

Minimum Personal Income $80,000 per year


Temporary Residents No
More
Additional comments
Terms & Conditions Official Terms & Conditions
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Information in this article is believed to be accurate at the time it was written, but terms and conditions may change at any time. All information is presented without warranty or guarantee. Please verify all terms and conditions of any credit card prior to applying.

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Critic Reviews


Money We Have

Good rewards rate, standard benefits

from Money We Have

My BMO Cashback World Elite Mastercard review is neutral. I think there are better cash back cards out there but since you get a roadside assist membership and access to airport lounges, this card will appeal to certain people.

Read full review

My BMO Cashback World Elite Mastercard review is neutral. I think there are better cash back cards out there but since you get a roadside assist membership and access to airport lounges, this card will appeal to certain people.

Read full review

Less

creditcardGenius

A card for more than just rewards

creditcardGenius

If you want an all-around premium cash back card with rewards, top-notch insurance coverage, roadside assistance, and World Elite perks ‒ then you’ve come to the right place.

Read full review

If you want an all-around premium cash back card with rewards, top-notch insurance coverage, roadside assistance, and World Elite perks ‒ then you’ve come to the right place.

Read full review

Less

LowestRates.ca

Great cash back card

from LowestRates.ca

The 4% cash back welcome rate is a good opportunity for credit card churners to take advantage of a high earning card for the first four months. However, with no signup bonus and a hefty annual fee, I don’t think this card is even good for that.

Read full review

The 4% cash back welcome rate is a good opportunity for credit card churners to take advantage of a high earning card for the first four months. However, with no signup bonus and a hefty annual fee, I don’t think this card is even good for that.

Read full review

Less

Wallet Savvy

A worthy contender compared to other popular credit cards

There are clearly more advantages than disadvantages when using this card. If the interest rate spooks you a little, there is one easy way of managing that. Definitely offers a lot of great benefits among the cash back cards. We give this card two thumbs up.

Read full review

There are clearly more advantages than disadvantages when using this card. If the interest rate spooks you a little, there is one easy way of managing that. Definitely offers a lot of great benefits among the cash back cards. We give this card two thumbs up.

Read full review

Less

User Reviews


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