Loyalty ConciergeLoyalty Concierge

Rogers Red World Elite vs BMO CashBack World Elite

No annual fee vs 5% grocery. Different wallets, different winners.

Updated May 30, 2026 · 4 min read · By Loyalty Concierge Editorial

ROGERS · MASTERCARD

Rogers Red World Elite Mastercard

Annual fee $0 · FX 2.5%

Best for: US-dollar spenders, No-annual-fee cashback

BMO · MASTERCARD

BMO CashBack World Elite Mastercard

Annual fee $139 · FX 2.5%

Best for: Grocery-heavy Mastercard shoppers, Costco Canada

FeatureRogers Red World Elite MastercardBMO CashBack World Elite Mastercard
Annual fee$0.00$139.00
Welcome bonus$60 cashback on approval.10% cashback in first 3 months (up to $2,000 spend).
Earn rates3% on US-dollar purchases; 1.5% on Everything else5% on Grocery; 4% on Transit; 3% on Gas, EV charging; 2% on Recurring bills; 1% on Everything else
InsuranceMobile device, Extended warranty, Purchase protectionTravel emergency medical, Trip cancellation
Lounge access——
FX fees2.5%2.5%
Network / acceptanceMASTERCARDMASTERCARD
Transfer partners——
Best forUSD-heavy shoppers with no fee toleranceCostco and grocery-heavy households

Verdict

Use both — Rogers for USD, BMO for grocery.

Rogers Red World Elite Mastercard

Pros

  • +Best USD cashback in Canada
  • +No annual fee

Cons

  • −No travel medical
  • −Points redeem against Rogers bills for best value

BMO CashBack World Elite Mastercard

Pros

  • +Strong 5% grocery
  • +Mastercard acceptance (Costco)

Cons

  • −$500/month grocery cap on 5%

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