The BMO® CashBack® World Elite®* MasterCard®* Review: Unlimited cash back. Every purchase. Everywhere.
It comes with a limited time 5% promotional cashback rate, a flat cashback rebate of 1.5% on EVERY purchase after the 5% promotion ends (that’s all the time – no caps, limits, categories or tiers), FREE roadside assistance and FREE travel insurance. It’s simple, transparent and offers premium value meant to rival travel cards.
The BMO CashBack World Elite MasterCard offers a compelling earn rate. 1.5% is what you see and what you get on all your spend, without any restrictions. This is a refreshing change of pace for an industry plagued with fine print. The limited-time accelerated cashback rate is also stellar for those that want to take advantage of it in the first four months after they sign up.
BMO CashBack Comparison:
Our competitive analysis reveals that the BMO CashBack card offers one of the richest cashback rates amongst all flat rate cashback credit cards in Canada today. It does particularly well for those who want no limits on the amount of cash they can earn, a high cash back rate in categories outside of gas & groceries, and premium travel insurance benefits.
Why It’s a Winner:
- 1.5% Cash Back: 1.5% beats out many of the premium travel card earn rates like RBC’s Avion card and CIBC’s Aventura card. While there are some cash back cards that match 1.5% (Rogers MasterCard), they usually don’t come with free roadside assistance, travel medical and trip interruption insurance.
- Unlimited CashBack: No Caps, Tiers or Categories : There’s no limit to the amount of cash you can earn. You’ll earn 1.5% on everything, without restrictions, it’s that simple. “Up to”, “tiers”, “caps”, “limits” or “categories” are simply not a part of this card’s vocabulary. You can use this card anywhere and as often as you want knowing you’ll get a full 1.5% cash back.
- Premium Perks & Benefits: This card is packed with perks and benefits usually reserved for travel cards. It has out of province / out of country travel medical insurance ($2 million coverage), car rental insurance, trip interruption insurance, extended warranty (doubles original manufacturers warranty) and purchase protection (items insured against theft or damage for 180 days after purchase). It also offers FREE roadside assistance, a value of $69/year.
- Easy Cashback Redemption Process. There’s no need to call in to redeem, no point expiry, no booking fees, no availability issues. Your cashback earnings automatically get credited to your credit card statement every January – just in time to pay off your holiday charges!
If you like the convenience and simplicity of cash back, but are tired of the tricks and shenanigans of caps, categories and tiers, you’ll love the transparency and earn rate of the BMO CashBack World Elite MasterCard.
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