BMO Cashback World Elite MasterCard Review

BMO Cashback World Elite MasterCard Review 2022

Having a cash back credit card in your wallet accords best value for the every cent spend through the card. You can save money and purchase more at the same amount. Let’s check BMO Cashback World Elite MasterCard review here; it is becoming extremely popular choice for the credit card users who enjoy unlimited cash back on every purchase with the card.

BMO Cashback World MasterCard Review

Before choosing your new cash back credit card, read on this BMO Cashback World Elite MasterCard review to know the benefits and key features of the card to get along with the better decision-making.

Basic Requirements

To purchase the BMO Cashback World Elite MasterCard, the applicant must have an annual income of minimum $80,000 or a household family income of $150,000.

Key Features and Privileges

  • Unlimited Cash Back on Every Purchase: Every time you purchase anything with the card, you can earn cash back in the card account. There is no limit to the purchases or expenses with the card in a year. For the 4 months from the date of purchase, you earn up to 4% cash back and then onwards 1.75% on all products and services.
  • International Emergency Medical Benefits: Get up to 8 days of Out-of-Country/Out-of-Province emergency medical protection coverage up to $2 million.
  • Collision Damage Protection: You can get discounts on collision damage on rented cars.
  • Roadside Assistance: Get roadside repair and support at an additional cost of just $69 per year.
  • Additional Cardholder Benefits: At an additional cost of $50 per year, you can add additional cards to the BMO card to earn greater cash back without paying extra annual fees.
  • Enhanced Card Security: The cardholders enjoy 0-liability protection for unauthorized card usage. There is a PIN protected microchip embedded inside the card for added security. There is an additional encrypted protection layer on the card to provide best protection during online shopping transactions.

Multiple Ways to Redeem Cash Back Amount on the Card

There are three ways to redeem your annual cash back savings:

i. You can deposit the cash back amount into savings account

ii. Enjoy using the money for greater returns by depositing the amount directly to the Investor line account

iii. Use the amount adjustments on the monthly credit card statements


  • $0 Annual fee for the first year
  • Up to 4% cash back on all purchases made within the four months from the date of purchase
  • Earn unlimited cash back on all purchases at 1.75%, which is much higher than others in the competition
  • Get extra supplementary costs without any extra charges and annual fee
  • Enjoy free concierge services and consultation on leisure, entertainment, dining and others
  • With an expense of just $600 on the card, you can cover the low annual fee
  • Medical protection coverage with additional benefits of international medical facilities for up to 8 days (up to $2 million)
  • Damage and theft protection for 90 days from the date of issuance and activation of the card
  • Extended warranty for 2+ years
  • Several options to redeem your cash back on the card


  • $120 annual fee from the second year may be inconvenient for many cardholders
  • Annual addition of the cash back amount to the card may seem too late for cardholders who want to redeem these amounts frequently

The Final Verdict,

The BMO Cash back World Elite MasterCard is not just another cash back card in your wallet. There are several privileges to enjoy on this card in addition to the opportunity to save a huge amount at the end of the year from all your expenses. You can redeem the savings in a way that is best at your convenience. Before you purchase the card, consider a comparison with some other cards for the rates and charges to find the one that suits your requirements.