advertisement
Did you know Canadians can earn up to $260 in cash back in the first three months with the BMO CashBack® World Elite® Mastercard®?
It offers a 10% cash back welcome bonus on everyday purchases. This means you get rewards on groceries, transit, and fuel.
This guide helps you apply for the BMO CashBack World Elite Mastercard easily. By following the steps and understanding the rewards, you can earn more cash back. Apply online with your BMO CashBack Mastercard and start earning today.
advertisement
BMO CashBack World Elite Mastercard
The BMO CashBack World Elite Mastercard is made for those who want to get the most from their cashback rewards. It’s one of Canada’s top cash back cards. New users can earn an amazing 10% cashback on their first $2,500 in three months.
BMO CashBack
Click continue and go to the official website.
There are many great benefits to this card. You can get up to 5% cash back on grocery shopping (up to $500 a month). For transit and ride-sharing, you’ll get 4% cash back on the first $300 each month. Plus, you’ll earn 3% back on gas and electric vehicle charging.
Recurring bills can earn you 2% cash back on the first $500. And, you’ll get 1% cashback on all other purchases. You can earn up to $7,000 per month. The first year’s annual fee of $120 is waived, so you can try it out without paying upfront. Plus, you get a $75 FlyerFunds Rebate just for applying.
Why Choose the BMO CashBack World Elite Mastercard?
The BMO CashBack World Elite Mastercard offers great cashback rates. It’s perfect for those who spend wisely. You can earn up to 10% cash back in the first three months, with a max reward of $260.
This card gives 5% cash back on groceries, 4% on transit, and 3% for gas and EV charging. These rates apply to certain spending limits. All other purchases earn 1% cash back, including at Costco.
The first-year annual fee of $120 is waived for new cardholders. You also get free roadside assistance and travel insurance. This includes coverage for trip cancellations, flight delays, and lost luggage.
These benefits make the BMO CashBack World Elite Mastercard a top choice. It offers cashback rewards, added protections, and more.
High Cashback Rewards on Everyday Spending
The BMO CashBack World Elite Mastercard offers a great cashback deal. It’s perfect for those who want to earn more on their daily spending. With its tiered cashback system, you get more cash back on things you buy every day.
Cashback Structure Breakdown
The BMO CashBack Mastercard’s cashback plan rewards you based on how you spend. It has different cashback rates for different spending areas. This gives you a clear idea of how much you can earn in each category.
| Spending Category | Cashback Rate | Monthly Cap |
|---|---|---|
| Groceries | 5% | Up to $500 |
| Transit (including ride sharing, taxis, and public transportation) | 4% | Up to $300 |
| Gas and Electric Vehicle Charging | 3% | Up to $300 |
| Recurring Bill Payments (e.g., monthly phone bill or streaming services) | 2% | Up to $500 |
| All Other Purchases | 1% | Unlimited |
Once you hit the monthly spending limits, you earn 1% cash back on extra spending. This means you keep earning rewards on your daily purchases. It’s great for lots of people.
Welcome Bonus Offers
New cardholders get to enjoy some amazing welcome bonuses. For the first three months, you can earn up to cash back. This is a great chance to make the most of your card right from the start. Plus, there’s an annual fee waiver on your anniversary. This helps you save even more.
How to Apply for the BMO CashBack World Elite Mastercard
Applying for the BMO CashBack World Elite Mastercard is easy. It’s designed to help you get the most cash back. First, check if you qualify. Knowing the steps makes applying smooth and quick. Here’s a guide to help you.
Step-by-Step Application Guide
To apply for the BMO CashBack World Elite Mastercard, follow these steps:
- Visit the official BMO website or go to a local BMO branch.
- Select the BMO CashBack World Elite Mastercard option.
- Complete the application form, providing personal and financial information.
- Submit your application and await approval. Processing usually takes a short period.
Online Application Process
The online application for the BMO cashback credit card is easy. After picking the card, fill out an online form. It’s quick and convenient, done from home. Double-check your info before you submit to avoid mistakes.
Required Documents for Application
Applying for the BMO CashBack World Elite Mastercard requires specific documents. Having these documents ready can speed up your application. It also increases your chances of getting approved.
Valid Identification
It’s important to show valid identification. Here are some accepted forms:
- Canadian Driver’s License
- Passport
- Canadian Citizenship Card
- Permanent Resident Card
These documents help prove who you are. They are key for the BMO cashback card application.
Proof of Income Documentation
Showing proof of income is also crucial. It shows you can handle financial responsibilities. Here are some documents that work:
- Recent Pay Stubs
- T4 Slips
- Tax Returns
- Bank Statements
This information helps your application. It shows you can meet financial obligations. This is important for the BMO CashBack Mastercard application.
| Document Type | Purpose |
|---|---|
| Valid Identification | Prove your identity |
| Proof of Income | Demonstrate financial stability |
Understanding Eligibility Requirements
To get the BMO CashBack World Elite Mastercard, you need to meet certain requirements. You must live in Canada and have a BMO account in Good Standing. These rules help make sure you can enjoy the card’s top benefits.
Minimum Income Criteria
Applicants need to make at least $80,000 a year. This shows you can handle the card’s high-end features and rewards. For families, the income needed is $150,000 to qualify well.
Credit Score Considerations
A good credit score is key for getting the card. A score of 760 or above is best. This shows BMO looks for people who handle money well.
| Criteria | Details |
|---|---|
| Minimum Income | $80,000 per year |
| Household Income | $150,000 per year |
| Recommended Credit Score | 760 or higher |
| Residency Requirement | Must be a Canadian resident |
| Account Status | Must hold an account in Good Standing |
Applying for BMO CashBack World Elite Mastercard Benefits
The BMO CashBack World Elite Mastercard offers more than just cash back rewards. It comes with travel insurance and roadside assistance. These features give users peace of mind and support on their travels.
Travel Insurance Coverage
This card’s travel insurance is a big plus for those who travel often. It includes:
- Common Carrier Accident Insurance: Up to $500,000 in coverage.
- Flight Delay Insurance: Compensation of up to $500 for delays over four hours.
- Baggage Delay Insurance: Up to $500 for delays exceeding six hours.
- Lost or Stolen Baggage Insurance: Up to $500 per person, with a total of $1,000 per trip.
- Rental Car Collision Insurance: Covers rental vehicles valued up to $65,000 (MSRP).
These insurance benefits make travel safer. They give users confidence when exploring new places.
Roadside Assistance and Other Perks
The BMO CashBack World Elite Mastercard also offers roadside assistance. This service is available 24/7 for emergencies like:
- Towing services.
- Flat tire assistance.
- Battery jumps.
- Lockout services.
These perks add value to the card. They ensure help is always available when needed. The BMO CashBack Mastercard is a great choice for those who value rewards and security.
| Benefit | Details |
|---|---|
| Common Carrier Accident Insurance | Up to $500,000 coverage |
| Flight Delay Insurance | Up to $500 for delays over 4 hours |
| Baggage Delay Insurance | Up to $500 for delays over 6 hours |
| Lost & Stolen Baggage Insurance | Up to $500 per person, $1,000 per trip |
| Rental Car Collision Insurance | Covers vehicles up to $65,000 (MSRP) |
| Roadside Assistance | 24/7 support for emergencies |
Conclusion
The BMO CashBack® World Elite® Mastercard® is a great choice for Canadians. It offers a good balance of benefits and cost, with an annual fee of $120. This is cheaper than many other cards in its class.
New cardholders get a welcome bonus of up to 10% cashback on their first $2,600 spent in three months. This makes the BMO CashBack Mastercard even more appealing.
The card gives 5% cashback on groceries (up to $500 a month) and 4% on transit. This means cardholders can earn a lot from their daily spending. It’s designed to fit different spending habits, offering big rewards in many areas.
But it’s not just about cashback. The card also comes with insurance, roadside assistance, and lounge access worldwide. This makes it a valuable tool for today’s shopper.
In short, getting the BMO CashBack World Elite Mastercard opens up great cash back chances. It also offers many travel and everyday benefits. It’s perfect for those who want to boost their spending power with top-notch features.
