The ClearFin bottom line
🛒 5% Groceries
Its strongest published earn rate in our data is 5.0% on groceries. The $139 annual fee should be weighed against the rewards and benefits you expect to use.
Checked 2026-08-09 · Official issuer catalogueIndependent ClearFin review · BMO
BMO CashBack World Elite Mastercard
Start with up to $650 in value + first year annual fee waiver.
Independent comparisonFees includedCanadian card data
- Annual fee
- $139
- Reward type
- Cash Back
- Welcome offer
- $650
- Insurance
- Not listed
First year free
Current new-cardmember offer
Confirm with the issuer
$120cash rebate*
🛒 5% Groceries
🛒 5% Groceries
Welcome bonus
Up to $650 in value + first year annual fee waiver
How to earn it
- $40 cash back per month (up to $480 total)Spend at least $2,000 in each monthly statement period during the first year.
- $139 annual fee rebateMaintain an approved account; first year annual fee waived.
- $75 roadside assistance valueRoadside assistance benefit included with the card.
Offer details
Available to new BMO CashBack World Elite Mastercard cardholders who meet the offer requirements. Existing terms and exclusions apply as outlined by BMO.
How you earn
- 5% cash back on eligible grocery purchases
- 4% cash back on eligible transit purchases, including ride sharing, taxis, and public transportation
- 3% cash back on eligible gas purchases and electric vehicle charging
- 2% cash back on eligible recurring bill payments
- 1% cash back on all other eligible purchases
- Cash back rewards never expire while the account remains open and in good standing
- Redeem cash back anytime starting from as little as $1
- Redeem cash back as a statement credit, deposit to an eligible BMO account, or contribution to InvestorLine
Costs and requirements
Fees & eligibility
Confirm final approval criteria and current rates directly with the issuer.
Annual fee$139First year free
Purchase interest21.99%
Cash advance interest23.99%
Foreign transaction fee2.5%
Income requirement$80,000Issuer approval criteria apply
Household income$150,000Alternative minimum
Recommended credit score660+ Good to Very Good
Applicants typically have the strongest approval odds with a good to very good credit profile that aligns with the card's premium positioning and minimum income requirements.
300Poor
560Fair
660+Good
725Very Good
760Excellent
ClearFin estimate on Canada's 300–900 scale. This is not an issuer cutoff or approval guarantee; lenders may use different bureau scores and underwriting criteria. This is an estimated approval range based on industry data, cardholder reports, and the card's World Elite income requirements. BMO does not publish a minimum credit score requirement, and approval decisions consider additional factors such as income, credit history, existing debt, and payment history.
Reward limits: The card's accelerated cash back categories are subject to monthly spending caps. Eligible grocery purchases earn 5% cash back, transit purchases earn 4% cash back, gas and electric vehicle charging purchases earn 3% cash back, and recurring bill payments earn 2% cash back up to the published spending limits. Purchases above the category caps earn the base 1% cash back rate.
Earning cap
Earning cap
Earning cap
Earning cap
Using your rewards
Redemption options
Redemption values and availability may vary by option and can change.
Redeem earned cash rewards using the issuer's available cash-back or statement-credit options.
Minimum redemption amounts, automatic payout timing, and eligible account credits vary by issuer; confirm the current program terms before applying.
Beyond the points
Benefits that come with the card
Consider these extras by the value they add to purchases and experiences you already use.
Roadside Assistance
Complimentary roadside assistance coverage including battery boosts, flat tire changes, lockout service, fuel delivery, and towing.
Emergency Medical Insurance
Out-of-province and out-of-country emergency medical coverage of up to $5 million for eligible trips of up to 8 days.
Extended Warranty Insurance
Doubles the original manufacturer's warranty period on eligible purchases for up to one additional year.
Purchase Security Insurance
Eligible items purchased with the card are protected against theft or damage for 90 days from the purchase date.
Instacart+ Membership
Receive six complimentary months of Instacart+ membership when enrolled with an eligible BMO credit card.
Monthly Instacart Credit
Receive a $10 monthly Instacart credit after enrolling an eligible BMO credit card.
Flexible Cash Back Redemptions
Redeem cash back at any time starting from as little as $1 as a statement credit, deposit to an eligible BMO account, or contribution to InvestorLine.
Cash Back Never Expires
Cash back rewards do not expire as long as the account remains open and in good standing.
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Automatic Cash Back Deposits
Set up automatic cash back deposits starting at $25 into eligible BMO accounts.
Credit Card Balance Protection
Optional coverage available that can provide up to $20,000 in credit card balance protection.
Credit Coach Access
Free access to BMO Credit Coach for credit score monitoring with no impact on your credit score.
Card Management Tools
Lock or unlock your card, report it lost or stolen, and manage account security through BMO digital banking.
Protection included
Insurance at a glance
No included coverage is verified in ClearFin's current catalogue.
Insurance is not currently listed for this product.
This does not prove that coverage is unavailable. Confirm the issuer's current certificate and benefit guide before relying on protection.
Check the official card page ↗The verdict
What we like
- Industry-leading cash back rates
- Complimentary roadside assistance
- Comprehensive insurance coverage
- Strong first-year value
- Flexible cash back redemptions
- Annual fee rebate with Premium Chequing Account
Worth noting
- High income requirements
- Annual fee after the first year
- Foreign transaction fees apply
- Monthly spending caps on bonus categories
ClearFin analysis
Our detailed review
A practical reading of where the card earns, what the fee buys, and which limits matter.
🛒 5% Groceries
5% on groceries, 4% on transit, 3% on gas, 2% on recurring bills. Highest grocery cashback in Canada.
How the rewards work
Groceries receive the strongest estimated return at 5.0%. Purchases outside the accelerated categories earn an estimated 1.0%.
What the annual cost means
Using the strongest estimated category return alone, roughly $2,800 in annual spending at that rate would equal the $139 fee before considering the value of insurance, partner benefits, or a welcome offer.
Who it may suit
This card is most relevant for someone who spends consistently on groceries and gas and can use enough of the included value to justify the yearly cost.
What to examine before applying
Compare the purchase interest rate, foreign-transaction fee, approval requirements, reward limits, and insurance certificates. Pay particular attention to merchant-category rules because a store may not receive the reward rate its products appear to suggest.
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Issuer terms apply. ClearFin is not affiliated with this provider. How we make money. Card facts were checked against the issuer's official source. The issuer's current catalogue was checked. Any field not explicitly listed remains marked as unverified rather than estimated.