With a new month comes new offers.
Earn 10% cash back with the BMO CashBack World Elite Mastercard
Instead of earning 5% cash back on all purchases in the first 3 months, it’s now been doubled to 10% in the first 3 months (up to $2,000 in spend). That’s $200 cash back right there.
And, this is an exclusive offer to creditcardGenius – you won’t see this offer on BMO’s site (unless you click on our apply link).
And the first year is still free, saving you an additional $120.
How does this exclusive offer compare to the standard one?
One point to note – while this isn’t vastly different from the standard offer of 5% cash back on the first $4,000 in purchases, there are a couple of differences.
First, you have to remember that both of these offers include what you would normally earn (1.5% cash back) on your regular earn rates as well.
What does that mean? Our true welcome bonus offer is slightly better. 10% minus 1.5% means you earn 8.5% bonus cash back on $2,000 in spend, which is $170.
The standard offer, on the other hand, works out to 5% minus 1.5%, so you’re only earning 3.5% bonus cash back on $4,000, which is only $140, a little bit lower.
Second, to get the full value on the new offer, you only have to spend $2,000, so you can earn your full rewards more quickly.
BMO CashBack World Elite Mastercard details
Does this offer interest you? Here are the basic details of the card.
Once your welcome bonus is over, you’ll be earning 1.5% cash back on all purchases, with no tiers to worry about.
And unlike most cash back cards that only offer statement credits, you get to choose not only when you redeem, but where you want your rewards.
Once you’ve got $1 in cash back you can do one of the following:
- statement credit,
- deposit into a BMO bank account, or
- deposit into a BMO Investorline account.
It’s also got great insurance coverage, with 13 out of
For a cash back card, there’s a lot to love.
Changes to the BMO CashBack card now in effect
The changes to the no fee
Previously, the card offered 1% cash back on every purchase.
BMO has introduced a new rewards structure for this card:
- 3% cash back on groceries (up to $500 spent per month),
- 1% cash back on recurring bill payments, and
- 0.5% cash back on all other purchases.
Based on our typical $2,000 monthly spend, there isn’t a difference in total rewards. But every spending situation is different. If you have this card already, that may not be true for you.
If this card interests you, it also has a great welcome bonus. You’ll earn 5% cash back on all purchases in the first 3 months, on your first $2,000 in spend.
You can learn more about these changes here.
With everything going on, it’s nice to see great cash back welcome bonuses coming out.
What are your thoughts on these offers?
Let us know in the comments below.