10% cashback +free 1st yr (then 5% on groceries,4% transit, 3% gas,2% bill pay,1% others)

Looks nice. I'm a current BMO WE card holder (different card). Would I have those benefit if I call to switch over?

Fine print for the 10%. It's missing a closing parentheses...

"The 10% earn rate applies to qualified spend up to $2,600 (up to $500 qualified spend in grocery, up to $300 qualified spend in transit, up to $300 qualified spend in gas and electric vehicle charging, up to $500 qualified spend in recurring bill payments, and up to $1000 qualified spend on all other purchases (less refunds and excluding cash advances, cash-like transactions, interest charges, fees, credit or debit adjustments) in the welcome offer period, with a maximum of $260 cash back."

Too bad it's not more for regular spending, would have signed up in a heartbeat.

SohSay wrote: ↑ highest cash back on groceries in Canada9 and redeem your cash back any time and for as little as $1.

Welcome offer: Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first year

Earn 5% cash back on groceries
4% on transit, 3% on gas, 2% on recurring bill payments and 1% unlimited cash back on all other purchases.

Earn the highest cash back on groceries in Canada9 and redeem your cash back any time and for as little as $1.

Complimentary Roadside Assistance Program

eligibility
Minimum $80,000 (individual) or
$150,000 (household) annual income.

Thank you for sharing this offer.


Good offer. But many conditions on first 10% cashback




BMO CashBack World Elite Mastercard applications must be received between May 3, 2021, and October 31, 2021 to receive the 10% cash back welcome bonus offer. The 10% earn rate applies to qualified spend up to $2,600 (up to $500 qualified spend in grocery, up to $300 qualified spend in transit, up to $300 qualified spend in gas and electric vehicle charging, up to $500 qualified spend in recurring bill payments, and up to $1000 qualified spend on all other purchases (less refunds and excluding cash advances, cash-like transactions, interest charges, fees, credit or debit adjustments) in the welcome offer period, with a maximum of $260 cash back. Please see details as follows:
a) Grocery purchases: Receive 5% cash back on the first $500 spent on eligible grocery purchases (classified by Mastercard’s “Merchant Category Code” as “grocery stores and supermarkets” MCC 5411) per billing cycle period and an additional 5% bonus cash back up to a maximum of $500 spent on all combined grocery purchases in the first three (3) billing cycles. In total, you could earn up to $50 cash back from qualified grocery spend in the welcome offer period.
b) Transit purchases: Receive 4% cash back on the first $300 spent on eligible ground transportation purchases [classified by Mastercard’s “Merchant Category Code” as "Transportation – Suburban and Local Commuter Passenger including Ferries" (MCC 4111), “Passenger Railways” (MCC 4112), “Taxicabs and Limousines” (MCC 4121), “Bus Lines” (MCC 4131) or “Transportation Services not elsewhere classified” (MCC 4789)] per billing cycle period and an additional 6% bonus cash back up to a maximum of $300 spent on all combined transit purchases in the first three (3) billing cycles. In total, you could earn up to $30 cash back from qualified transit spend in welcome offer period.
c) Gas and electric vehicle charging purchases: Receive 3% cash back on the first $300 spent on eligible gas and electric vehicle charging purchases [classified by Mastercard’s “Merchant Category Code” as "Service Stations" (MCC 5541), “Automated Fuel Dispenser” (MCC 5542) or “Electric Vehicle Charging” (MCC 5552)] per billing cycle and an additional 7% bonus cash back up to a maximum of $300 spent on all combined gas and electric vehicle charging purchases in the first three (3) billing cycles. In total, you could earn up to $30 cash back from qualified gas and electric vehicle charging spend in the welcome offer period.
d) Recurring Bill Payments: Receive 2% cash back on the first $500 spent on eligible recurring bill payments (defined as payments made on a monthly or regular basis, and which are automatically billed by the merchant to your BMO CashBack World Elite Mastercard) per billing cycle and an additional 8% bonus cash back up to a maximum of $500 spent on all qualified recurring bill payments in the first three (3) billing cycles. You will not earn any bonus cash back on recurring bill payments that are also classified as grocery, transit or gas and electric vehicle charging purchases as described above (classified by Mastercard’s “Merchant Category Code”) and are subject to the bonus capping rules of eligible grocery, transit or gas and electric vehicle charging purchases. In total, you could earn up to $50 cash back from qualified recurring bill payments in the welcome offer period.
e) All other purchases: Receive 1% cash back on purchases and an additional 9% bonus cash back up to a maximum of $1,000 spent in the first three (3) billing cycles. In total, you could earn up to $100 cash back from qualified purchases.
f) The 10% bonus cash back offer is limited to new BMO CashBack World Elite Mastercard accounts and will not be awarded to current or former cardholders who reinstate a closed account, product transfer, or who open a new account. Limit of one bonus offer per account. If you cancel your card within ninety (90) days from the date your account is opened, all CashBack Rewards earned within that period will be cancelled. This offer may be withdrawn or changed without notice.
Annual Fee waiver: The primary cardholder annual fee of $120 will be rebated in the first year and will appear as a fee and a credit on the primary cardholders first statement. After the first year, the annual fee will appear on your Credit Card statement twelve (12) months after the Credit Card open date. The annual fee waiver offer does not apply to the Additional Card annual fee. The 10% cash back offer and first year annual fee waiver offer is limited to new BMO CashBack World Elite Mastercard accounts and will not be awarded to current or former cardholders who reinstate a closed account, product transfer, or who open a new account. Limit of one bonus offer per account. If you cancel your card within ninety (90) days from the date your account is opened, all CashBack rewards earned within that period will be cancelled. This offer may be withdrawn or changed without notice.

It’s too late in the day for me to do the math to understand whether or not this is worth signing up for, but there are conditions on every bonus cash back category and heavy conditions on the 10% WB. It’s a max of $260 with further maximums across the various categories (so you can’t just spend $2600 on groceries to get the $260 for example).

Excerpt of terms:
The 10% earn rate applies to qualified spend up to $2,600 (up to $500 qualified spend in grocery, up to $300 qualified spend in transit, up to $300 qualified spend in gas and electric vehicle charging, up to $500 qualified spend in recurring bill payments, and up to $1000 qualified spend on all other purchases (less refunds and excluding cash advances, cash-like transactions, interest charges, fees, credit or debit adjustments) in the welcome offer period, with a maximum of $260 cash back.

Damn, now regretting dropping BMO a few months ago because I wanted the Scotia WE at 4% groceries.

The conditions to maximize the 10% $260 bonus is absolutely laughable. But in the long term, the unbeatable cashback rates will make it worthwhile.

How is this a totally different card? Did BMO drop their old cashback WE 1.5% and revamped it with this one?

Hopefully they don't drop the cashback rate like they did with the old WE - from 1.75% to 1.5%.

So many conditions with only $260 cash back… haha, there are many others to choose. Skip.

OP failed the mention the most important fine print, only on the first $2600 and that too limited to specific amounts in each of the categories.
Not a good deal to sign up!

hansdoreen wrote: ↑ Looks nice. I'm a current BMO WE card holder (different card). Would I have those benefit if I call to switch over?

You won't get the welcome bonus for converting cards.

TimBitz wrote: ↑ Fine print for the 10%. It's missing a closing parentheses...

"The 10% earn rate applies to qualified spend up to $2,600 (up to $500 qualified spend in grocery, up to $300 qualified spend in transit, up to $300 qualified spend in gas and electric vehicle charging, up to $500 qualified spend in recurring bill payments, and up to $1000 qualified spend on all other purchases (less refunds and excluding cash advances, cash-like transactions, interest charges, fees, credit or debit adjustments) in the welcome offer period, with a maximum of $260 cash back."

Too bad it's not more for regular spending, would have signed up in a heartbeat.

Another crappy BMO card with a million of restrictions and headaches.

Fine print kills the deal. This deal is so restricted it's just awful. AMEX Simply Cash or Scotiabank Momentum Visa Infinite are both straight up superior deals via GCR.

angel_wing0 wrote: ↑ You won't get the welcome bonus for converting cards.

Thanks! Thought so.

This is not bad as costco doesn't take visa, might make a difference for some considering this or the scotiabank momentum visa.

And then they change the 5% after you get a credit hit in a year or two?

cire wrote: ↑ This is not bad as costco doesn't take visa, might make a difference for some considering this or the scotiabank momentum visa.

I thought Costco doesnt count as groceries

Ive been a BMO CB WE cardholder for 3 years now it was my first WE card, I used to combine it with Amex Cobalt getting the 1.5% on about 2K a month the other 2K goint through cobalt on all 5x categories, now they nerfed it but I plan to keep it due to free roadside assistance program with it (it actually only allows 2 free tows a year now up to 20km to a nearby shop in my case...my garage ), the higher CB on PADs, and the customer service has been good this card is the only one that adds 2 years extra warranty on top of the year you get when you buy certain items, they are pretty relaxed with giving higher limits on it as well compared to PCF WE and Rogers WE, it combines really well with the new BMO Infinite Visa with AF waivers the first year, my monthly returns on both cards together are $60-$80 (2-3K spend on WE card and another 2K spend on infinite visa 5x points only). Bad news for BMO my mortgage is with CIBC giving me the Dividend Infinite for free so I may swap the BMO infinite for that before AF still deciding but as for the BMO CB WE plan to keep that.

Would be a great card but they really neuter it with this "Grocery purchases: Receive 5% cash back on the first $500 spent on eligible grocery purchases (classified by Mastercard’s “Merchant Category Code” as “grocery stores and supermarkets” MCC 5411) per billing cycle period

American Express Simplycash Preferred $100 GCR

Scotiabank Momentum Visa Infinite $60 GCR (sometimes 100-120)

CIBC Dividend Visa Infinite FYF

All of the above have 10% cashback offers and all are better as they don't have the silly spending caps you'd have to keep track of. I personally recommend the Simplycash as it's the best offer currently and lasts for 4 months for a total of $400. The other two are great though. Scotia is the hardest to get, finally got it on the 3rd try within 2 years. Only card that I've been denied for after 25-30 cards

Feel free to ask me any questions and I'll do my best to help put money back in your pocket!

TimBitz wrote: ↑ Fine print for the 10%. It's missing a closing parentheses...

"The 10% earn rate applies to qualified spend up to $2,600 (up to $500 qualified spend in grocery, up to $300 qualified spend in transit, up to $300 qualified spend in gas and electric vehicle charging, up to $500 qualified spend in recurring bill payments, and up to $1000 qualified spend on all other purchases (less refunds and excluding cash advances, cash-like transactions, interest charges, fees, credit or debit adjustments) in the welcome offer period, with a maximum of $260 cash back."

Too bad it's not more for regular spending, would have signed up in a heartbeat.

Ooo good catch, I thought it was straight up on 2000$ spend, dealing with these individual max spend on categories sigh

They could have called it 100% cash back with a fine print condition of on the first $1 spend on diaper. Then 50% on $2 of walker.