BMO CashBack World Elite Mastercard Review
Best grocery cashback Mastercard in Canada — and it works at Costco.
Updated June 5, 2026 · 4 min read · By Loyalty Concierge Editorial
BMO · MASTERCARD
BMO CashBack World Elite Mastercard
Annual fee $139 · FX 2.5%
Best for: Grocery-heavy Mastercard shoppers, Costco Canada
Verdict
The grocery + Costco combo makes this a top cashback pick.
Who should get this card
- • Costco shoppers
- • Grocery-heavy Mastercard households
Who should avoid it
- • Anyone under the $500/mo grocery cap who prefers points
Pros & cons
Pros
- +Strong 5% grocery
- +Mastercard acceptance (Costco)
Cons
- −$500/month grocery cap on 5%
Earn rates
- 5% — Grocery
- 4% — Transit
- 3% — Gas, EV charging
- 2% — Recurring bills
- 1% — Everything else
Alternatives to consider
MBNA · MASTERCARD
MBNA Rewards World Elite Mastercard
Annual fee $120 · FX 2.5%
Best for: Mastercard alternative to Cobalt
AMEX · AMEX
American Express Cobalt Card
Annual fee $192 · FX 2.5%
Best for: Foodies, Groceries and dining
View card details →ROGERS · MASTERCARD
Rogers Red World Elite Mastercard
Annual fee $0 · FX 2.5%
Best for: US-dollar spenders, No-annual-fee cashback