Discover the Steps to Apply for the BMO World Elite Cashback Mastercard

The BMO World Elite Cashback Mastercard stands out as the top credit card in Canada for earning the most cashback on grocery purchases.

What should I know before applying?

The BMO Cashback World Elite offers a top-tier grocery rewards program in Canada, featuring 5% cash back and redemption at only 1 dollar!

BMO is a leading financial institution that provides a range of services, including account management, investment solutions, mortgages, and credit card offerings.

The BMO Cashback World Elite Mastercard starts with a credit limit of $5,000, which can be increased based on your credit history.

Although the card carries an annual fee of $120, this fee can be waived for BMO banking account holders.

The standout feature of the BMO Cashback World Elite is its impressive cashback program, delivering 5% back on grocery purchases—a leading rate for food and essentials in Canada.

Additional cashback rates include:

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 earn 1% on all other eligible purchases, with no limit on the cashback you can earn.

BMO’s online cashback calculator helps you estimate your potential earnings with this card.

Cashback can be redeemed in various ways, including as a statement credit, or deposited into a BMO checking or savings account, or even into an investment account.

To learn more about this card, keep reading.

Who is eligible to apply?

To qualify for this credit card, you need to be at least 18 or 19 years old, depending on your province, and provide valid ID as either a Canadian citizen or a legally registered foreign resident.

To qualify for this card, you need an annual income of at least $80,000 individually or a combined household income over $150,000. Moreover, applicants should not have filed for bankruptcy in the last five years.

Every application undergoes a review based on specific criteria set by the bank.

What’s the Process for Applying for the BMO World Elite Cashback Mastercard?

To start your application, just click the ‘Apply Now’ button. Initially, you’ll need to confirm if you already possess a BMO debit card.

If this is your first experience with BMO, you’ll need to provide a Canadian address to proceed with the application.

The following details are required to complete your application:

Your full name and date of birth
Email and phone number
Complete address and living situation
Your income and banking information

After you submit your application, BMO will carefully assess your profile and provide feedback soon.

If you have any inquiries, feel free to reach out to BMO directly.

Additional Information

In general, the bank quickly processes applications. However, if meeting the requirements for the World Elite card proves difficult, BMO has other credit options that may be more suitable for you.

This card comes with a range of extra benefits, such as access to over a million Wi-Fi hotspots globally, thanks to its partnership with Mastercard.

Utilizing Mastercard Travel Rewards can unlock significant savings, including up to 20% off rentals at National Car Rental and 5% off at Enterprise Rent-A-Car worldwide. Plus, enjoy a discount of seven cents per liter at Shell gas stations.

For your protection, this card offers zero liability coverage against fraudulent transactions, along with Mastercard identity verification and BMO alerts to keep you updated on your activities.

You can also choose BMO’s credit card balance protection.

The BMO PaySmart plan lets you split large purchases into easy payments, making it more feasible to buy various items across the country.

In addition, this card provides financial tips, daily insights, and full access to your credit score via CreditView.