Cash BackMastercard

BMO CashBack World Elite Mastercard

BMO

Premium cash back with 5% on groceries - the highest grocery earn rate in Canada - plus multiple accelerated categories.

The BMO CashBack World Elite Mastercard is a BMO Mastercard card with a $139 annual fee. It earns 5% cash back on Groceries. Listed welcome offer value: $650.

Last updated October 9, 2026Source: issuer page

Key facts

Annual fee: $139
Purchase interest rate: 21.99%
Cash advance rate: 23.99%
Earn rates: 5% cash back on Groceries (Up to $500/statement period); 4% cash back on Transit (including rideshare) (Up to $300/statement period); 3% cash back on Gas & EV charging (Up to $300/statement period); 2% cash back on Recurring bill payments (Up to $500/statement period); 1% cash back on All other purchases
Welcome offer: $650
Foreign transaction fee: 2.5%
Income requirement: $80,000 personal, or $150,000 household

How this score is calculated

Formula

Net annual value(50%)5.0
Welcome bonus(15%)5.0
Foreign transaction fee(10%)2.5
Insurance & perks(15%)1.9
Purchase interest rate(10%)2.5

What are the fees and rates?

Verified 2026-10-09

Annual Fee

$139

Additional card: $50

Purchase Interest Rate

21.99%

Cash advance: 23.99%

Minimum Income

$80,000 personal

or $150,000 household

Foreign Transaction Fee

2.5%

What rewards does this card earn?

The BMO CashBack World Elite Mastercard earns 5% cash back on Groceries.

Groceries

Up to $500/statement period

5% cash back

Transit (including rideshare)

Up to $300/statement period

4% cash back

Gas & EV charging

Up to $300/statement period

3% cash back

Recurring bill payments

Up to $500/statement period

2% cash back

All other purchases

1% cash back

Is there a welcome offer?

Yes. The listed welcome offer value is $650.

Up to $650 value including $40/month cash back when spending $2,000/month in first year, $139 annual fee rebate, $75 roadside assistance value

Value: $650

First year annual fee waived, 0% balance transfer for 12 months with 2% fee

Pros

5% on groceries is highest in Canada
Multiple accelerated categories
Instacart+ membership included
First year annual fee waived

Cons

$139 annual fee after first year
$80K income requirement
Category spending caps per statement

What perks are included?

5% on groceries - highest in Canada
Complimentary Instacart+ (6 months + $10/month credit)
Roadside assistance ($75 value)
8-day out-of-province medical up to $5M
Mastercard World Elite benefits

What insurance is included?

Purchase Protection – 90 days from purchase

Extended Warranty – Up to 1 additional year

Travel Emergency Medical – 8 days, up to $5M

Frequently asked questions

What is the annual fee on the BMO CashBack World Elite Mastercard?

The BMO CashBack World Elite Mastercard has a $139 annual fee.

What rewards does the BMO CashBack World Elite Mastercard earn?

5% cash back on Groceries (Up to $500/statement period); 4% cash back on Transit (including rideshare) (Up to $300/statement period); 3% cash back on Gas & EV charging (Up to $300/statement period); 2% cash back on Recurring bill payments (Up to $500/statement period); 1% cash back on All other purchases

What is the purchase interest rate on the BMO CashBack World Elite Mastercard?

The purchase interest rate is 21.99%. The cash advance rate is 23.99%.

Is there a welcome offer on the BMO CashBack World Elite Mastercard?

Up to $650 value including $40/month cash back when spending $2,000/month in first year, $139 annual fee rebate, $75 roadside assistance value Listed value: $650.