Uncover the Process to Apply for the BMO World Elite Cashback Mastercard
The BMO World Elite Cashback Mastercard is recognized as the leading credit card in Canada for maximizing cashback rewards on grocery shopping.
Key Insights Before You Apply
The BMO Cashback World Elite boasts an exceptional grocery rewards program in Canada, offering 5% cash back with redemption starting at just $1!
CREDIT CARD
BMO World Elite
* You will be directed to an external website
BMO stands out as a prominent financial institution, providing an array of services such as account management, investment options, mortgages, and credit cards.
The BMO Cashback World Elite Mastercard begins with a credit limit of $5,000, which can be adjusted based on your credit profile.
While the card has an annual fee of $120, BMO account holders can have this fee waived.
The BMO Cashback World Elite truly shines with its remarkable cashback program, offering 5% back on grocery purchases—a top rate for food and essentials in Canada.
Here are some additional cashback rates:
- 4% on transit like rideshares and buses.
- 3% on fuel at gas and charging stations.
- 2% on regular bills like streaming and phone services.
You’ll receive 1% on all other eligible purchases, without any cap on the cashback you can accumulate.
BMO’s online cashback tool lets you estimate how much you could earn with this card.
Cashback offers multiple redemption options, such as a statement credit, transfers to a BMO checking or savings account, or even into an investment account.
Continue reading to discover more about this card.
Who can apply for this card?
To be eligible for this credit card, you must be at least 18 or 19 years old, depending on your province, and present valid identification as either a Canadian citizen or a legally recognized foreign resident.
To be eligible for this card, your individual annual income must be at least $80,000, or your household income should exceed $150,000. Additionally, applicants must not have declared bankruptcy in the past five years.
Each application is assessed according to the bank’s defined criteria.
What is the Application Process for the BMO World Elite Cashback Mastercard?
To begin your application, simply click the ‘Apply Now’ button. First, you’ll need to verify if you currently hold a BMO debit card.
If this is your first interaction with BMO, you’ll need to provide a Canadian address to continue with your application.
To finalize your application, please provide the following details:
- Full name and date of birth
- Email and contact number
- Complete address and living status
- Income and banking details
Once you submit your application, BMO will thoroughly review your profile and provide feedback shortly.
If you have any questions, don’t hesitate to contact BMO directly.
CREDIT CARD
BMO World Elite
* You will be directed to an external website
Extra Details
Typically, the bank swiftly handles applications. Yet, if qualifying for the World Elite card is challenging, BMO offers other credit alternatives that might suit you better.
This card provides numerous extra perks, including access to over a million Wi-Fi hotspots worldwide through its partnership with Mastercard.
Using Mastercard Travel Rewards can lead to great savings, like up to 20% off at National Car Rental and 5% off at Enterprise Rent-A-Car globally. Additionally, enjoy a discount of seven cents per liter at Shell stations.
For your security, this card provides zero liability protection against unauthorized transactions, alongside Mastercard identity checks and BMO alerts to keep you informed about your account activity.
You can opt for BMO’s credit card balance protection as well.
The BMO PaySmart plan allows you to break down hefty purchases into manageable payments, making it easier to shop across the nation.
This card also offers financial tips, daily insights, and complete access to your credit score through CreditView.
Want to explore another option?
If you’re looking for another alternative with BMO, take a look at the BMO Cashback Mastercard, which offers an impressive 3% cashback on groceries.
This card comes with perks that never run out, has a $0 annual fee, and offers discounts on purchases—learn how to apply.
