BMO · Mastercard · Cash back
Reviewed 2026-07-06 · By The Points Standard editorial team
BMO CashBack World Elite Mastercard
The strongest all-around cash-back Mastercard in Canada by blended rate. The fee pays for itself quickly for grocery-heavy households.
Standard Score breakdown — Strong
Six weighted components, each rated 0–10. "Contributes" is the rating × weight — add all six and you get the 7.42/10 Standard Score above.
See how the Standard Score works or re-weight it to your priorities.
The numbers
| Annual fee | $120 |
| Welcome bonus | 10% cash back on groceries and gas for the first 3 months (up to $3,000 spend), plus first year free |
| Est. bonus value | ≈ $300 |
| First-year net value | ≈ $560 |
Earn rates
| Groceries (first $12,000/yr) | 5% |
| Recurring bill payments | 4% |
| Gas and transit | 2% |
| Everything else | 1% |
Why it earns its score
- 5% groceries and 4% recurring bills are category-leading rates
- 1% base rate is well above most cash-back competitors
- World Elite travel insurance and concierge included
Where it loses points
- 5% grocery rate capped at $12,000/year
- $120 fee needs the higher-tier rates to be worth it over the no-fee BMO CashBack card
Who it's for
Households with heavy grocery and recurring-bill spend who want the strongest blended cash-back rate available on a Mastercard.
Who should skip it
Your spend doesn't clear $12,000/year in groceries — the no-fee CashBack Mastercard captures most of the value for free.
Included insurance
Travel medical · Trip cancellation/interruption · Flight delay · Rental car coverage · Mobile device insurance
Source: issuer card page · Last reviewed 2026-07-06. Details change often — confirm current terms with the issuer before applying.