Learn How to Apply for BMO World Elite Cashback Mastercard

What should I be aware of before submitting my application?

The BMO Cashback World Elite credit card provides one of the most generous grocery rewards in Canada, offering 5% cash back and the flexibility to redeem anytime for only $1!

BMO is a well-known financial firm that provides a range of services such as account management, investment choices, mortgages, and credit card offerings.

The BMO Cashback World Elite Mastercard offers a initial credit limit of $5,000, with potential for substantial increases based on your credit history.

Although there is a $120 annual fee for the card, this charge can be waived for individuals who hold a BMO banking account.

One standout characteristic of the BMO Cashback World Elite card is its attractive cashback scheme, offering a lucrative 5% cashback on grocery spending, a rate that is among the most competitive in Canada for food and essential purchases.

Here are some other rates for cashback:

– Get a 4% cash back on transit expenses like ride-sharing, public transportation, and taxis.

– 3% cashback on fuel purchases, which includes gas stations and electric vehicle (EV) charging stations.

Receive a 2% cash back on regular bills such as phone plans, gym memberships, and streaming services.

You will receive a 1% cashback on all other eligible purchases, without any limit on the amount you can earn.

Use BMO’s digital cashback estimator to get an idea of how much you could earn with the card.

Cashback offers various redemption options, such as receiving a statement credit, depositing it into a BMO checking or savings account, or transferring it to an investment account.

To discover additional information regarding this card, please read on.

Eligibility Criteria

To qualify for this credit card, you need to be either 18 or 19 years old, depending on the regulations in your province, and have valid identification as a citizen or legal foreign resident.

The card mandates that applicants have a minimum annual income of $80,000 for individuals or a household income exceeding $150,000. Moreover, candidates must not have filed for bankruptcy within the last five years.

Every application is assessed according to the particular standards of the financial institution.

What is the Process for Applying for the BMO World Elite Cashback Mastercard?

To kick off the application process, just select the ‘Apply Now’ button. The initial step involves confirming whether you currently possess a BMO debit card.

If you are new to BMO, you will need to provide a Canadian address in order to proceed with the application.

The next steps require the provision of the following details:

– Name in full (including any additional surnames, if applicable) and date of birth

Listed below are the fields for email address and phone number.

– Full address, housing situation, and information on monthly payments

Listed below are details regarding income information and banking details.

Once you have submitted your application, BMO will carefully evaluate your profile and provide you with a prompt response.

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

Additional Information

The bank usually handles applications quickly. But if you’re having difficulty meeting the World Elite card requirements, BMO provides alternative credit options that may be more suitable for you.

The card comes with a range of extra benefits, such as the opportunity to enjoy over 1 million Wi-Fi hotspots worldwide through its Mastercard collaboration.

When you utilize Mastercard Travel Rewards, you can enjoy significant savings, such as discounts up to 20% on rentals from National Car Rental and up to 5% off at Enterprise Rent-A-Car worldwide. Moreover, you’ll receive a discount of seven cents per liter at Shell gas stations.

For enhanced security measures, the card offers comprehensive protection against unauthorized transactions, Mastercard identity verification, and BMO alerts to keep you updated on your account activity.

Consider choosing the credit card balance protection offered by BMO as an alternative.

The BMO PaySmart payment plan enables you to divide the expense of big purchases into smaller payments, making it more convenient to purchase a variety of products across the country.

In addition, the card provides financial guidance, daily suggestions, and full access to your credit score via CreditView.

Looking to explore a different choice?

If you’re interested in exploring another choice with BMO, you may want to consider the BMO Cashback Mastercard, known for its attractive cashback rate of 3% on grocery purchases.

Moreover, this card offers timeless benefits, no annual fee, and savings on purchases – discover how to submit your application.

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