$480 cash back
Apply Now†Terms and conditions apply. BMO is not responsible for maintaining the content on this site. Please click on the Apply Now link for the most up to date information.
$720
First-year value
$480
cash back
$120
Annual fee
First Year Free
Based on the minimum spend required to earn the full welcome bonus.
$40 cash back per month upon spending $2,000/month for 12 months
Groceries
(up to $500/month, 1x after)
Transit
(up to $300/month, 1x after)
Gas & EV Charging
(up to $300/month, 1x after)
Bills
(up to $500/month, 1x after)
Everything Else
Last updated: December 19, 2025
The BMO CashBack® World Elite®* Mastercard®* is a solid cash back option for higher-income Canadians who don’t spend heavily in any single category and can make consistent use of the card’s elevated earn rates within their monthly caps.
While the structure looks generous on paper, this card rewards controlled, predictable spending rather than big monthly outlays.
Canada’s 7 Best BMO Credit Cards
Read moreAs a welcome bonus, this card is currently offering up to $480 in cash back, credited as a monthly cash back bonus structure.
You’ll earn $40 cash back each month in your first year, up to $480 total, as long as you spend at least $2,000 per billing cycle. This is effectively a monthly loyalty bonus rather than a traditional upfront welcome offer.
The annual fee of $120 is also rebated in the first year.* You can give the card a try at no cost before deciding whether to commit long-term, with the option to downgrade to the no-fee version if you’d prefer.*
Supplementary cardholders come at a cost of $50 apiece.*
The BMO CashBack® World Elite®* Mastercard®* has a 5-4-3-2-1 tiered earning structure, structured as follows:
Unfortunately, the category bonuses are capped at a low level of spending per month ($300–500), so the higher earning rates are only beneficial if you don't spend a lot in each category every month.
Any purchases above the monthly limits will only earn 1% cash back.
Welcome bonus history is for Members
See how this card’s welcome offers have evolved over time.
†Terms and conditions apply. BMO is not responsible for maintaining the content on this site. Please click on the Apply Now link for the most up to date information.
$480 cash back
Apply Now†Terms and conditions apply. BMO is not responsible for maintaining the content on this site. Please click on the Apply Now link for the most up to date information.
Last updated: December 19, 2025
There are three ways to redeem your cash back on the BMO CashBack® World Elite®* Mastercard®*:
BMO's cash back redemption options are relatively flexible compared to its peers, many of which only allow you to claim your cash back earnings once a year.
Among the perks specific to BMO credit cards, you'll enjoy discounts at select shows: 15% off Cirque du Soleil's Canadian tours and 20% off resident shows in Las Vegas.*
You'll also be enrolled in a free membership in the Dominion Automobile Association, with the benefits of the basic tier of the BMO Roadside Assistance Program.*
Furthermore, as a standard benefit on World Elite Mastercards, you'll get a complimentary DragonPass membership (although you do need to pay for each visit to an airport lounge).*
You’ll also receive Instacart benefits, including:
The insurance package on the BMO CashBack® World Elite®* Mastercard®* is quite strong overall, including common carrier accident insurance of $500,000, flight delay insurance of $500 on delays of over four hours, and $500 of baggage delay insurance on delays of over six hours.*
The card's lost and stolen baggage insurance covers $500 per person and up to $1,000 per trip, and the rental car collision insurance covers vehicles up to $65,000 (MSRP).*
Extended warranty is also included on this card, doubling the manufacturer's standard warranty by up to an additional one year.*
100,000 BMO Rewards points
