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Thursday, May 14, 2015

Introducing the BMO CashBack World Elite MasterCard and BMO CashBack World MasterCard

Last week we let you know about the new BMO AIR MILES World Elite MasterCard that was officially released yesterday but that's not the only card BMO just announced. They are also introducing a  new Cash Back card,  the BMO CashBack World Elite MasterCard.Advertisement

Here are the basics of this new entrant to the Cash back credit card space:
- 1.75% Cash back on all purchases
- 8 day travel and medical protection*
- Roadside Assistance*
- Purchase Protection Plus and Extended Warranty Plus*
- $120 annual fee however the first year is free if you apply by August 31

A quick look at this card puts it at the higher end of the cash back spectrum and the earning is simple, no tier bonuses etc. A straight 1.75% back on all purchases. This puts the card at .25% disadvantage when compared to its BMO Rewards World Elite MasterCard companion but that card's 2% back is strictly limited to travel redemptions where with this card you have that cash back to spend on anything. And like most Cash Back cards the benefits are limited although it is nice to see the 8 day emergency medical insurance included.

You can find all the details on this new card here.Advertisement

Also released today was a World Version of the card that has a lower annual fee and a lower earn rate of 1.25%.

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