BMO Cash World Elite Mastercard – How to Apply, Benefits!

Here are all the essential details you need to know about the BMO Cash World Elite Mastercard, including how to apply, requirements, benefits, fees and more.

The BMO Mastercard is an excellent choice for those who want to earn cash back on every purchase, enjoy travel perks, and access exclusive benefits.

This card offers competitive cash back rates, comprehensive travel insurance, and a range of additional features that make it a top pick for savvy consumers.

How to Apply for the BMO Mastercard

Applying for the BMO CashWorld Elite Mastercard is a simple and straightforward process.

Here’s a step-by-step guide to help you get started:

1. Visit the Official Website: Go to the BMO Bank official website.
   

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2. Navigate to the Credit Cards Section: Find the credit cards section and select the BMO CashWorld Elite Mastercard.
   

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3. Fill Out the Application Form: Complete the application form with your personal details, financial information, and employment details.
   

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4. Submit the Application: Review your information and submit the application.
   

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5. Wait for Approval: You will receive a notification regarding the status of your application.
   

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Requirements for Applying for the BMO Cash World Elite Mastercard

To qualify for the BMO CashWorld Elite Mastercard, you need to meet certain requirements:

Minimum Income: Applicants must have a personal annual income of at least $80,000 or a household income of $150,000.

Credit Score: A good to excellent credit score is required.

Residency: You must be a resident of Canada.

Age: Applicants must be at least 18 years old.

Benefits of the Card

The BMO CashWorld Elite Mastercard comes with numerous benefits that make it a valuable addition to your wallet:

• Welcome Bonus: Receive a generous welcome bonus of cash back upon signing up.
  

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• Cash Back Rewards: Earn 1.5% cash back on every purchase, with no caps or restrictions.
  

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• Travel Insurance: Comprehensive travel insurance including trip cancellation, lost baggage, and emergency medical coverage.
  

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• Priority Pass: Enjoy access to over 1,000 airport lounges worldwide with a complimentary Priority Pass membership.
  

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• Purchase Protection: Coverage for most new purchases against loss, theft, or damage for 90 days from the date of purchase.
  

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• Extended Warranty: Doubles the manufacturer’s warranty up to one additional year.

What are the Fees, Annual Fee, and Interest Rates?

The BMO CashWorld Elite Mastercard has the following fees and interest rates:

Annual Fee: $120 for the primary cardholder, waived for the first year, $50 for each additional card.

Interest Rates: Standard purchase interest rate of 19.99% and cash advance rate of 22.99%.

Foreign Transaction Fees: 2.5% on all foreign transactions.

Card Network and Coverage

The BMO CashWorld Elite Mastercard is part of the Mastercard network, which means it is widely accepted both domestically and internationally.

This card offers extensive coverage, ensuring you can use it wherever Mastercard is accepted.

How to Check Your Statement?

Checking your statement for the BMO CashWorld Elite Mastercard is easy:

Online Banking: Log in to your BMO online banking account to view your statement.

Mobile App: Use the BMO mobile app to access your account and check your statement.

Paper Statement: You can opt to receive paper statements by mail.

How to Activate Your BMO Cash World Elite Mastercard?

Activating your BMO CashWorld Elite Mastercard is a simple process:

1. Call the Activation Number: Dial the number provided with your card.
2. Online Activation: Log in to your BMO online banking account and follow the activation instructions.
3. Mobile App: Use the BMO mobile app to activate your card.

Mobile App Features

The BMO mobile app offers a range of features to help you manage your BMO CashWorld Elite Mastercard:

• Account Management: View your account balance, recent transactions, and statements.
• Rewards Tracking: Monitor your cash back earnings and see how much you’ve accumulated.
• Alerts and Notifications: Set up alerts for payment due dates, transaction limits, and more.

Contact Information

If you need assistance with your BMO Cash World Elite Mastercard, you can contact BMO through the following methods:

• Customer Service: Call the BMO customer service hotline at 1-800-263-2263.
• Online Chat: Use the online chat feature on the BMO Bank website.
• Branch Visit: Visit your nearest BMO branch for in-person assistance.

The card is an excellent option for those who want to earn cash back on every purchase and enjoy premium travel benefits.

With competitive cash back rates, comprehensive travel insurance, and access to airport lounges, this card offers great value.

Make sure to review the requirements and fees before applying to ensure it fits your financial situation.

Common Mistakes to Avoid with the BMO Cash World Elite Mastercard

• Avoid these pitfalls to make the most of your card:
  1. Missing payments, which can lead to penalties and interest charges.
  2. Ignoring cashback categories, resulting in lower rewards.
  3. Exceeding your credit limit, which can hurt your credit score.
  4. Overlooking promotional offers that could maximize savings.

Using the card responsibly ensures better financial outcomes.

Cashback Redemption Process

• Explain how users can redeem their accumulated cashback rewards:
  1. Log in to your account through the BMO app or website.
  2. Check your available cashback balance in the rewards section.
  3. Choose how to use your cashback: statement credit or deposit to your BMO bank account.
  4. Confirm your choice and monitor the update on your statement.

This straightforward process makes it easy to enjoy the rewards earned on your purchases.

Is the BMO Cash World Elite Mastercard Right for You?