Canada · BMO · Mastercard
BMO CashBack World Elite Mastercard
C$139 annual fee · 1% on everything else · 2.5% foreign transaction fee
Earn rates · how we got this
| Category | Rate | Cap |
|---|---|---|
| Groceries | 5% | on the first C$500/month |
| Transit | 4% | on the first C$300/month |
| Rideshare | 4% | on the first C$300/month |
| Gas | 3% | on the first C$300/month |
| EV charging | 3% | on the first C$300/month |
| Recurring | 2% | on the first C$500/month |
| Everything else | 1% | uncapped |
See more Canada credit cards →
Non-cash perks
- First year fee waived
- Annual fee rebate with BMO Premium chequing
- Travel & purchase insurance
Does the fee earn out? · how we got this
The C$139 fee minus C$0 in printed credits leaves C$139/yr to earn back through rewards — roughly C$2,780 of groceries spending at 5%. Whether that clears depends on your actual spending.
Who this card is not for
Every point below is a term the issuer prints, read off this card's own row in our database — not an opinion about the card. two things on this card rule out a kind of spender:
- Anyone who spends abroad. Every purchase in a foreign currency carries a 2.5% foreign transaction fee. On a card earning 1.0¢ per dollar at the base rate, that fee costs more than the rewards on the same purchase.
- A heavy groceries spender. The 5% on groceries stops after C$500 of it per month. Past that the same purchases earn its base 1%, so the headline rate describes the first C$500 only.
More from BMO
- BMO eclipse Visa Infinite Card C$120/yr
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Which card should this spending actually be on? The demo re-scores a year of realistic spending against every card in a wallet — free, no signup. See it on sample data →
Verified 2026-09-15 against issuer terms · sources: www.bmo.com. Spot an error? Tell us.