Comparison

BMO CashBack Business Mastercard or BMO CashBack World Elite Mastercard: card comparison

The BMO Bank offers a package full of credit cards for different needs and goals. Check out the comparison between BMO CashBack Business Mastercard and BMO CashBack World Elite!

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by Aline Augusto

Published on 01/25/2022

BMO CashBack Business Mastercard vs BMO CashBack World Elite Mastercard: which is the best?

Check out the card comparison! Source: Instagram BMO.
Check out the card comparison! Source: Instagram BMO.

BMO CashBack Business Mastercard or BMO CashBack World Elite Mastercard?

You have definitely already heard of BMO Bank if you live in Canada. It was founded in 1817, so it is the oldest bank in the country. And it is one of the largest, as well.

To live up to its name and reputation, BMO offers a full range of services and products to help Canadians with their financial life.

One of its products is the credit card. Whether you are a business owner, a person looking for a low-interest rate, or someone searching for some privileges, this bank delivers to you all.

Today, we will compare two great credit cards, the BMO CashBack Business Mastercard and the BMO CashBack World Elite Mastercard.

So, check out the comparison to decide for your own which fits better your needs and goals.

How to apply for BMO CashBack Business Mastercard?

Get cash back on all purchases with a BMO CashBack Business Mastercard credit card! Learn how to apply for it!

BMO CashBack World Elite Mastercard credit card

How to get BMO CashBack World Elite Mastercard?

Earn up to 5% cashback with the BMO CashBack World Elite Mastercard card! Learn now how to apply for one!

BMO CashBack Business MastercardBMO CashBack World Elite Mastercard
Sign-up bonus10% cash back on gas, office supplies, and cell phone & internet bills for 3 monthsUp to 10% cash back in your first 3 months;
$120 annual fee waived in the first year
Annual fee$0$120
Rewards1.75% cash back at Shell;
1.5% cash back on eligible gas station, office supplies purchases, and on recurring cell phone/internet billings;
0.75% cash back on all other purchases
5% cash back on groceries;
4% cash back on transit;
3% cash back on gas;
2% cash back on recurring bills;
1% cash back on all other purchases
Other perksOptional extra cards to employees with a protection program against purchase abuse;
Extended warranty;
Purchase Protection;
Mastercard Easy Savings
Travel and medical protection;
Roadside Assistance Program;
Boingo Wi-Fi;
Discounts on rentals with National Car Rental and Alamo Rent a Car Programs;
Concierge services;
Airport lounge access by Mastercard Airport Experiences with LoungeKey;
Extended warranty;
Purchase Protection
APR19.99% for purchases;
22.99% for cash advances
20.99% for purchases;
23.99% for cash advances (21.99% for Quebec residents)

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BMO CashBack Business Mastercard

Learn more about this card. Source: BMO.
Learn more about this card. Source: BMO.

Whether you are a sole proprietor, a person in a partnership, a corporation, or an unincorporated association, you might consider this credit card a perfect fit for you. That is because it offers the possibility to minimize costs and maximize earnings.

This Mastercard not only gives you cash back on all purchases, but also it doesn’t charge annual fees whatsoever.

In summary, you earn a great deal in the welcome bonus and rewards, as follows:

  • 1.75% cash back at Shell;
  • 1.5% cash back on eligible gas station, office supplies purchases, on the recurring cell phone, and internet billings;
  • 0.75% cash back on all other purchases.

Also, you can empower your employees with delegated purchasing authority by adding optional cards to them.

But, don’t worry, with a Liability Waiver Program, you will be protected against employee card abuse.

Besides that, it provides Extended Warranty and Purchase Protection.

BMO CashBack World Elite Mastercard 

Check out more information about this credit card. Source: BMO.
Check out more information about this credit card. Source: BMO.

If you want a little extra or much extra, you need to meet this credit card. As you can imagine by its name, this Mastercard delivers some privileges.

It is a unique card that gives you 5% cash back on groceries, 4% on transit, 3% on gas, 2% on recurring bills, and 1% cash back on all other purchases. 

And a welcome offer of up to 10% cash back in your first three months.

Moreover, your rewards can be redeemed anytime you want for as little as $1, with no expiration dates.

This high rate of rewards comes with some perks, too, as follows:

  • Roadside assistance, including some essential services;
  • Travel and medical protection, up to $2 million coverage;
  • Access to more than a million Wi-Fi hotspots around the world with Boingo Wi-Fi;
  • Discounts on rentals with National Car Rental and Alamo Rent a Car programs;
  • 24/7 Concierge Services;
  • Airport lounge access with a complimentary membership in Mastercard Airport Experiences by LoungeKey; and more.

Furthermore, you can enjoy peace of mind knowing that you have an extended warranty, purchase protection, Zero Liability, layers of security, credit alerts, and more.

But all of this comes with a price. It charges a $120 annual fee that is waived in the first year.

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Benefits of BMO CashBack Business Mastercard credit card

This credit card is an excellent choice for those who own a business. So, if you want to earn rewards, welcome bonus, convenience, and essential protection, without paying a lot for these benefits, the BMO CashBack Business Mastercard is for you.

The best features are definitely the $0 annual fee and the rewards in cash back on all purchases.

Also, it offers the possibility to add cards for employees with protection against purchase abuse.

Plus, it gives automatic rebates on eligible purchases at participating merchants through the Mastercard Easy Savings.

Benefits of BMO CashBack World Elite Mastercard credit card

The BMO CashBack World Elite Mastercard is a card for those who want exclusive access and services.

Besides the extraordinary reward rate, this credit card provides extra assistance, support, insurance, and protection.

So, you can travel and not only feel safe but also feel attended with exclusivity as you deserve.

With many partnerships, you get free access to wi-fi hotspots and lounges, valuable benefits to rental services, concierge anytime you need, and more.

Moreover, you can enjoy peace of mind with BMO account alerts, balance protection, credit alert, Mastercard Identity Check, and more.

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Disadvantages of BMO CashBack Business Mastercard 

It could lower the APR for business owners, as well as it could improve the insurance package offered.

Disadvantages of BMO CashBack World Elite Mastercard 

Unfortunately, all the benefits and perks this card offers come with an annual fee of $120. Also, it requires a minimum $80,000 (individual) or $150,000 (household) annual income.

BMO CashBack Business Mastercard or BMO CashBack World Elite Mastercard: which you should choose?

If you are a business owner looking for a credit card, the BMO CashBack Business Mastercard is definitely a good choice for you.

Otherwise, if you meet the requirements and want some privileges, stick with the BMO CashBack World Elite Mastercard and earn many rewards.

But if you are still not sure about the best option, BMO has another great card available for you! Learn more about the BMO CashBack Mastercard card below!

How to apply for a BMO CashBack® Mastercard® card?

BMO CashBack® Mastercard® credit card features cash back, welcome bonus, and more. See how to apply for one now and enjoy its benefits!

About the author

Aline Augusto

My name is Aline Mesquita; I'm a writer here on the blog, where I write about finance in general and other subjects. I have been working with content creation for ten years. Also, I'm post-graduated in Project Management, with expertise in SEO practices. Currently, I am studying finance, market trends, and cryptocurrencies.

Reviewed by

Aline Barbosa

Senior Editor

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