BMO CashBack World Elite Mastercard Review

Welcome to the elite tier of rewards with the BMO CashBack World Elite Mastercard Credit Card! 

The BMO CashBack World Elite Mastercard seamlessly blends a powerhouse rewards structure with an array of benefits that enhance your lifestyle. From the peace of mind offered by complimentary roadside assistance and airport lounge access membership to the incredible flexibility of redeeming your cash back anytime, this card is designed to deliver exceptional, tangible value. 

With a generous welcome offer that includes up to 10% cash back and a first-year annual fee waiver, there has never been a better time to elevate your wallet and start getting seriously rewarded for your spending.

CREDIT CARD

BMO CashBack World Elite

10% cash back Airport Lounge Access

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Ways to Benefit: A World of Elite Advantages

The BMO CashBack World Elite Mastercard is loaded with features designed to provide superior value, robust rewards, and significant peace of mind for cardholders.

1. Canada’s Highest Cash Back Rate on Groceries (5%): This is the card’s show-stopping feature! You’ll earn a phenomenal 5% cash back on your grocery purchases, up to a monthly spending cap of $500. 
2. Exceptional Welcome Offer: Kickstart your earnings with a massive welcome bonus! New cardholders are greeted with an introductory offer of up to 10% cash back in the first three months across various spending categories (up to $260 in total cash back), plus a first-year annual fee waiver ($120 value).
3. Accelerated Cash Back on Transit (4%): Whether you’re taking the GO train, Barrie Transit, or using a rideshare service, you’ll earn an impressive 4% cash back on your transit spending, up to a monthly cap of $300.
4. Rewarding Gas & EV Charging (3%): Keep your vehicle moving for less by earning 3% cash back every time you fuel up at a gas station or charge your electric vehicle, up to a monthly spending cap of $300.
5. Effortless Cash Back on Recurring Bills (2%): Make paying your monthly bills more rewarding. Earn 2% cash back on recurring bill payments set up on your card, up to a monthly spending cap of $500. 
6. Mastercard Airport Experiences Provided by DragonPass: Enhance your travel days with a complimentary membership that provides access to over 1,300 airport lounges and airport dining offers worldwide. While per-person lounge visit fees apply, the membership itself is a valuable perk.
7. Incredibly Flexible Redemption: You are in complete control of your rewards. You can redeem your cash back any time you’ve earned as little as $1. There’s no need to wait or hit a high threshold.

Who Can Apply: Eligibility for World Elite Status

To be eligible for the premium BMO CashBack® World Elite®* Mastercard®, applicants in Barrie must meet higher qualification criteria:

• Age of Majority: You must be at least 18 years old.
• Canadian Resident: You must be a resident of Canada and have a Canadian credit file.
• Minimum Annual Income: You must meet one of the following minimum annual income requirements:
  • A personal gross annual income of $80,000, OR
  • A household gross annual income of $150,000.
• Good to Excellent Credit Score: A strong credit history and a good to excellent credit score (typically suggested to be 725 or higher) are essential for approval.

How to Apply: Steps to Secure Your Premium Card

Applying for the BMO CashBack World Elite Mastercard is a straightforward process that can be completed online.

1. Visit the BMO Website: Navigate to the credit cards section on the official BMO Bank of Montreal website.
2. Select the Card: Find the BMO CashBack World Elite Mastercard and click to view its details.
3. Review the Details: Thoroughly read through the card’s benefits, the current welcome offer, insurance coverages, theannual fee (and first-year waiver), and other terms.
4. Click “Apply Now”: Begin the secure online application form.
5. Provide Your Information: Be prepared to fill out the application with your personal details, as well as your employment and income information to verify you meet the eligibility requirements.
6. Consent to a Credit Check: As part of the application, you must agree to allow BMO to perform a credit check.
7. Review and Submit: Carefully double-check all your information for accuracy before submitting your application.
8. Await a Decision: You may receive an instant decision online. If not, BMO will notify you of their decision within several business days.

Frequently Asked Questions (FAQ)

1. What is the annual fee for this card?
   The annual fee is $120, but it is typically waived for the first year as part of the welcome offer. 
2. Is there a limit on my cash back earnings?
   The accelerated earn rates have monthly spending caps, but the 1% base rate on all other purchases is unlimited.
3. How do I redeem my cash back?
   You can redeem as little as $1 at any time for a statement credit or a deposit into a BMO account via BMO online banking.
4. What travel insurance is included?
   It includes up to 8 days of Out-of-Province/Country Emergency Medical Insurance, as well as Flight Delay, Baggage Delay/Loss, and Car Rental Collision/Loss Damage Waiver insurance.

CREDIT CARD

BMO CashBack World Elite

10% cash back Airport Lounge Access

APPLY NOW You will be redirected