How to Apply for the BMO Cashback World Elite Mastercard
Applying for the BMO Cashback World Elite Mastercard is a straightforward process, provided you meet the income requirements and have a solid credit profile. This guide walks through each step, explains who the card is best suited for, outlines cancellation procedures, and helps you determine whether the card aligns with your financial goals.
Step-by-Step: How to Apply
Here is a clear, organized step-by-step process so you know exactly what to expect when starting your application:
1. Check the Eligibility Requirements
Before applying, make sure you meet the minimum income requirements:
- $80,000 individual annual income, or
- $150,000 household annual income
You should also have a strong credit history with on-time payments and low utilization.
2. Gather the Documents You Need
Prepare the information you will be asked for during the application:
- Full legal name and date of birth
- Social Insurance Number (optional but helps with verification)
- Proof of annual income (pay stubs or tax documents)
- Employment information
- Current address and housing details
Having these ready speeds up the approval process.
3. Apply Through BMO’s Official Website
Visit the official BMO page for the Cashback World Elite Mastercard and click “Apply Now.”
You will be directed to a secure application form where you must complete the requested fields accurately.
4. Submit Your Application
Review all details carefully before submitting. Small errors can delay approval or trigger additional verification steps.
5. Verification and Approval
BMO will conduct:
- A hard credit check
- Income verification
- Assessment of creditworthiness
Many applicants receive a decision within minutes, while others may need 2–5 business days if additional review is required.
6. Receive and Activate Your Card
If approved, your card arrives by mail in 5–10 business days.
Activate it through:
- BMO Online Banking
- BMO Mobile App
- Phone activation line
After activation, you can add the card to Apple Pay, Google Wallet, or Samsung Pay.
Who This Card Is Recommended For
The BMO Cashback World Elite Mastercard is best suited for:
• High-income applicants
Because of the high income requirement, it is tailored to financially stable individuals or households.
• People who maximize category spending
If you regularly spend on groceries, transit, gas, and recurring bills — and stay within the monthly caps — this card delivers excellent rewards.
• Full-pay cardholders
The interest rates are high, so the card is ideal for people who never carry a balance and want to maximize net cashback.
• Travelers who value built-in perks
The included travel medical insurance and roadside assistance add convenience for frequent short-trip travelers.
Not recommended for:
- Individuals who don’t meet the income criteria
- Anyone who often carries a balance
- Users whose spending falls mostly outside the enhanced categories
How to Cancel the Card
If you ever decide the card no longer suits your needs, canceling is simple:
1. Call BMO Customer Service
Contact the BMO credit card support line and request cancellation.
A representative will verify your identity and assist with the closure.
2. Clear Your Balance
You must pay off any outstanding balance before the account can officially be closed.
3. Redeem Your Remaining Cashback
Cashback does not carry over after account closure, so redeem it before canceling.
4. Request Written Confirmation
Ask for an email or letter confirming the account has been closed for your records.
Conclusion
The BMO Cashback World Elite Mastercard offers powerful cashback rewards paired with useful travel benefits, but it is designed for applicants who meet higher income requirements and plan to maximize the monthly caps. If you consistently pay your balance in full, travel occasionally, and spend strategically in the elevated categories, this card provides substantial long-term value — especially in the first year with the waived annual fee and boosted cashback.
You will be redirected to the bank’s website
