Learn How to Apply for BMO World Elite Cashback Mastercard
The BMO World Elite Cashback Mastercard is a credit card that offers the highest cashback on groceries in Canada.
What do I need to know before applying?
The BMO Cashback World Elite offers one of the highest rewards for groceries in Canada, with 5% cash back and redemption anytime for just 1 dollar!
CREDIT CARD
BMO World Elite
Want the best supermarket benefit in Canada? Apply now.
GO TO OFFICIAL WEBSITE* You will be directed to an external website
BMO is a prominent financial institution offering a variety of services, including account management, investment options, mortgages, and credit card products.
The BMO Cashback World Elite Mastercard comes with a starting credit limit of $5,000, which can be increased significantly depending on your credit profile.
While the card has an annual fee of $120, this can be waived if you are a BMO banking account holder.
The key feature of the BMO Cashback World Elite is its generous cashback program, providing 5% cashback on grocery purchases—one of the highest rates for food and essentials in Canada.
Other cashback rates include:
- 4% on transit expenses, such as ride-sharing, public transportation, and taxis.
- 3% on fuel, including gas stations and EV charging stations.
- 2% on recurring bills like phone plans, gym memberships, and streaming platforms.
You’ll earn 1% on all other qualifying purchases, with no cap on the cashback you can accumulate.
BMO’s online cashback calculator allows you to estimate your potential earnings with the card.
Cashback can be redeemed in several ways, including as a statement credit, a deposit into a BMO checking or savings account, or into an investment account.
To find out more about this card, continue reading.
Who can Apply?
To be eligible for this credit card, you must be at least 18 or 19 years old, depending on your province, and possess valid identification as either a native citizen or a legally registered foreign resident.
The card requires a minimum annual income of $80,000 for individuals or a household income exceeding $150,000. Additionally, applicants must not have declared bankruptcy within the past five years.
All applications are evaluated based on the bank’s specific criteria.
How do I Apply for the BMO World Elite Cashback Mastercard?
To begin the application, simply click on the ‘Apply Now’ button. You’ll first be asked if you already hold a BMO debit card.
If this is your first time with BMO, you’ll be required to submit a Canadian address to continue the application.
The next steps involve providing the following information:
- Full name (including any optional last names) and date of birth
- Email address and phone number
- Complete address, living arrangements, and monthly payment details
- Income information and banking details
Once your application is submitted, BMO will thoroughly review your profile and give you a response shortly.
For any questions, you can contact BMO directly.
CREDIT CARD
BMO World Elite
Interested in BMO benefits? Apply now.
GO TO OFFICIAL WEBSITE* You will be directed to an external website
More Details
Generally, the bank processes applications promptly. However, if you find it challenging to meet the requirements for the World Elite card, BMO offers other credit options that might better suit your needs.
The card offers a variety of additional perks, including access to over 1 million global Wi-Fi hotspots, courtesy of its Mastercard partnership.
By using Mastercard Travel Rewards, you can take advantage of substantial savings, including discounts of up to 20% on rentals at National Car Rental and up to 5% off at Enterprise Rent-A-Car globally. Additionally, you receive a discount of seven cents per liter at Shell gas stations.
For security, the card provides zero liability protection against fraudulent activities, Mastercard identity verification, and BMO alerts to keep you informed about your transactions.
You can also opt for BMO’s credit card balance protection.
The BMO PaySmart installment plan allows you to break down the cost of larger purchases into manageable payments, making it easier to afford various products throughout the country.
Furthermore, the card offers financial insights, daily tips, and complete access to your credit score through CreditView.
Want to learn another option?
If you’re looking for another option with BMO, you can check out the BMO Cashback Mastercard, which offers a solid cashback of 3% on groceries.
Additionally, this card features benefits that never expire, a $0 annual fee, and discounts on purchases—see how to apply.