The newest Cash Back rewards credit card in the Canadian market at time of posting this is the BMO CashBack World Elite MasterCard. Officially released on May 13th, the card looks to take on this ever growing market with a strong earn rate coupled with a decent insurance and benefits package for a cash back card.
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Features and Benefits
This is only our second full review of a Cash Back card here on Rewards Canada although with our comparison chart and blog coverage we do have quite a bit of insight to this category. The BMO CashBack World Elite MasterCard with its 1.75% return is nearing the returns of the best Travel Rewards credit cards but still falls short of many that are at 2% including this card's brother, the BMO World Elite MasterCard. That being said it is a great return when compared to other cash back cards. True those others may have higher returns in select categories but when you average out all your spending there is a good chance you'll get a better return with this card. The card itself can make an excellent primary or first card in your credit card portfolio if you aren't into travel rewards but for those who are travel savvy and can't get away from the almighty mile or point then this card could make a good secondary or tertiary card in your wallet.
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BMO CashBack World Elite MasterCard on bmo.com
Rewards Canada's Cash Back Credit Card Comparison including the BMO CashBack World Elite MasterCard
Other cards to consider from the Cash Back card category:
Capital One® Aspire Cash™ Platinum MasterCard®
CIBC Dividend Visa Infinite
MBNA SmartCash Platinum Plus MasterCard
Scotia Momentum VISA Infinite card
SimplyCash™ Preferred Card from American Express®