BMO CashBack® World Elite® Mastercard®

Welcome Bonus

Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first year

N/A

Annual Fee

$120

Annual Rewards

1%–10%

N/A

Rewards on Approval

N/A

Purchase Rates

20.99%

Cash Advance Rates

23.99%

Balance Transfer Rates

N/A

Table of Contents

The BMO CashBack® World Elite® Mastercard® is a prestigious credit card offered by the Bank of Montreal (BMO). It is designed to provide cardholders with exceptional benefits and rewards. With this card, you can earn cashback on all your everyday purchases, making it a great choice for individuals looking to maximize their rewards. Additionally, the card offers various travel and insurance benefits, access to airport lounges, extended warranty protection, and exclusive experiences through the Priceless® Cities program. With its comprehensive features and exceptional rewards program, the BMO CashBack® World Elite® Mastercard® is an excellent option for those seeking a top-tier credit card experience.

Pros

  1. Generous cashback rewards: The card offers a competitive cashback rate of 1.5% on all eligible purchases, allowing cardholders to earn rewards on their everyday spending.

  2. Welcome bonus: BMO often provides a welcome bonus for new cardholders, which can include higher cashback rates or additional rewards for meeting spending thresholds.

  3. Travel benefits: Cardholders gain access to a range of travel perks, including travel insurance coverage, car rental collision damage waiver insurance, and complimentary membership to LoungeKey™ airport lounges worldwide.

  4. Purchase protection and extended warranty: The card offers purchase protection against theft or damage and extends the original manufacturer's warranty for eligible purchases, providing additional peace of mind.

  5. Priceless® Cities experiences: Cardholders can enjoy exclusive offers and experiences in major cities worldwide through the Priceless® Cities program, enhancing their travel and lifestyle.

  6. Concierge service: The dedicated concierge service is available 24/7 to assist cardholders with various tasks, such as reservations, recommendations, and travel assistance.

  7. World Elite® Mastercard® benefits: As a World Elite® Mastercard® holder, cardholders gain access to additional benefits, such as price protection and identity theft protection.

Cons

  1. Annual fee: The card comes with an annual fee, which may be a drawback for individuals who prefer fee-free credit cards.

  2. Excellent credit requirement: To be eligible for the BMO CashBack® World Elite® Mastercard®, applicants need to have an excellent credit rating, which may limit access for some individuals.

  3. Cashback redemption restrictions: While the cashback rewards are valuable, there may be restrictions on how and when you can redeem them. It's important to review the terms and conditions to understand the redemption process fully.

  4. Limited acceptance: Mastercard® is widely accepted, but there may be some merchants or locations that do not accept credit cards, which could limit usability in certain situations.

  5. Foreign transaction fees: When using the card for purchases made in a foreign currency, there may be foreign transaction fees applied, which can increase the overall cost of international spending.

Details & Eligibility

  • 680 - 800
  • $80000
  • $150000
  • $120
  • N/A
  • Mastercard
  • No
  • 20.99%
  • 23.99%
  • N/A
  • N/A
  • N/A
  • $0

The BMO CashBack® World Elite® Mastercard® is a premium credit card offered by the Bank of Montreal (BMO) that provides cardholders with a range of benefits and features. Designed for individuals with excellent credit ratings and higher spending habits, this card offers a comprehensive rewards program along with various travel and insurance benefits. In this detailed overview, we will delve into the key features and advantages of the BMO CashBack® World Elite® Mastercard®, without listing the pros and cons explicitly.

  1. Cashback Rewards Program: The BMO CashBack® World Elite® Mastercard® offers a generous cashback rewards program, allowing cardholders to earn cashback on their everyday purchases. With this card, you can earn 1.5% cashback on all eligible purchases made with the card, regardless of the spending category. The cashback earned is automatically credited to your account and can be redeemed at any time, either as a statement credit or deposited directly into your BMO bank account.

  2. Welcome Bonus: The BMO CashBack® World Elite® Mastercard® often comes with a welcome bonus for new cardholders. This bonus typically involves earning a higher rate of cashback during the first few months or reaching a spending threshold to receive additional rewards. The specific terms and conditions of the welcome bonus may vary, so it’s essential to review the current offer at the time of application.

  3. Travel and Insurance Benefits: Cardholders of the BMO CashBack® World Elite® Mastercard® can take advantage of several travel-related benefits. These may include access to a range of travel services, such as flight and hotel bookings, car rentals, and vacation packages. Additionally, the card offers comprehensive travel insurance coverage, including travel medical insurance, trip cancellation/interruption insurance, and rental car collision damage waiver insurance.

  4. LoungeKey™ Airport Lounge Access: As a World Elite® Mastercard® holder, you gain complimentary membership to LoungeKey™, a program that provides access to over 1,000 airport lounges worldwide. This benefit allows you to relax and unwind in a comfortable environment before your flights, regardless of your airline or ticket class.

  5. Extended Warranty and Purchase Protection: The BMO CashBack® World Elite® Mastercard® offers extended warranty protection, automatically doubling the original manufacturer’s warranty for eligible purchases made with the card. Additionally, it provides purchase protection, which covers eligible items against theft or damage for a specified period after purchase. These benefits can provide peace of mind and save you money on costly repairs or replacements.

  6. Priceless® Cities Experiences: World Elite® Mastercard® holders gain exclusive access to Priceless® Cities experiences, offering unique events and privileges in major cities worldwide. This program allows cardholders to enjoy special offers on dining, entertainment, shopping, and more, enhancing their overall lifestyle and travel experiences.

  7. Concierge Service: The BMO CashBack® World Elite® Mastercard® provides access to a dedicated concierge service. This service is available 24/7 and can assist with various tasks, such as making reservations, booking tickets for events, recommending restaurants, and providing general travel assistance. The concierge service is designed to offer personalized support and enhance the cardholder’s lifestyle.

  8. World Elite® Mastercard® Benefits: As a World Elite® Mastercard® holder, the BMO CashBack® World Elite® Mastercard® provides access to a range of additional benefits offered by Mastercard. These benefits may include price protection, identity theft protection, and access to exclusive events and offers.

It’s important to note that specific terms, conditions, fees, and eligibility criteria apply to the BMO CashBack® World Elite® Mastercard®. Therefore, it’s advisable to review the most up-to-date information provided by BMO and carefully consider your financial situation and spending habits before applying for this card.

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