BMO CashBack World Elite Mastercard
Annual Fee
$120.00
Interest Rate
19.99%
Balance Transfer
22.99%
Cash Advance
22.99%
Credit Score
Excellent
Rewards
1.50%*
- Welcome offer: Get up to 5% cash back in your first 3 months
- Then earn 1.5% cash back on all other card purchases
- Complimentary membership in Mastercard Airport Experiences provided by LoungeKey
- Complimentary Roadside Assistance Program
- BMO Concierge Service
- Receive a discount on car rentals: get up to 25% off rentals at National Car Rental and Alamo Rent A Car at participating locations
- Purchase Protection: Purchase protection plus and extended warranty plus on most items bought with your card.
- BMO World Elite Total Travel and Medical Protection: get Collision Damage Waiver benefits on rental cars, Unexpected Return Home benefits, 8 days of Out-of-Province/Out-of-Country Emergency Medical benefits up to $2 million, and more.
- Minimum individual annual income of $80,000 or
- Minimum household $150,000 annual income.
The BMO CashBack World Elite Mastercard allows its holders to earn cash back on all purchases, with no restriction. The first three months of card membership offer you a hefty 5% cash back on all purchases, but after that promotional period the rate drops to a relatively low 1.5% for the annual fee of $120. The card also comes with multiple travel perks like a complimentary membership in Mastercard Airport Experiences provided by LoungeKey, as well as BMO World Elite Total Travel and Medical Protection. This card overall offers a very flexible way to earn you a little cash back while benefiting from an array of insurance coverage and perks. The earnings won’t change your life, but you won’t have to change anything about your life to start earning.
Summary
The BMO CashBack World Elite Mastercard allows its holders to earn cashback on all purchases, with no restriction. The card also comes with multiple travel perks like a complimentary membership in Mastercard Airport Experiences provided by LoungeKey, as well as BMO World Elite Total Travel and Medical Protection. Earn up to 5% cashback in your first 3 months!
Our Review
BMO CashBack World Elite Mastercard
The BMO CashBack World Elite Mastercard allows its holders to earn cash back on all purchases, with no restriction. The first three months of card membership offer you a hefty 5% cash back on all purchases, but after that promotional period the rate drops to a relatively low 1.5% for the annual fee of $120. The card also comes with multiple travel perks like a complimentary membership in Mastercard Airport Experiences provided by LoungeKey, as well as BMO World Elite Total Travel and Medical Protection. This card overall offers a very flexible way to earn you a little cash back while benefiting from an array of insurance coverage and perks. The earnings won’t change your life, but you won’t have to change anything about your life to start earning.
As per our rating system, this card scored 19/25 on rewards, 16/25 on interest rates and balance transfers, 22/25 on perks and insurance, and 22/25 on annual fees. Therefore, the total smart score of this card is 79/100.
Pros
- Welcome offer: Get up to 5% cash back in your first 3 months
- Then earn 1.5% cash back on all other card purchases
- Complimentary membership in Mastercard Airport Experiences provided by LoungeKey
- Complimentary Roadside Assistance Program
- BMO Concierge Service
- Receive a discount of up to 25% on car rentals.
- Enjoy an extensive array of insurances, including travel, medical and shopping coverage.
Cons
- A $120 annual fee
- You earn only 1.5% cash back after the 3 month promotional period.
- The 5% cash back during the first 3 months is capped at $200 in earnings.
- You must have a minimum individual annual income of $80,000 or a minimum household $150,000 annual income in order to be eligible for this card.