Mr. Nick Mastromarco reports

NEW BMO CASHBACK WORLD ELITE MASTERCARD MAXIMIZES CASHBACK ON ALL SPENDING

Bank of Montreal has launched the new BMO CashBack World Elite MasterCard, with the highest base earn rate in the market at 1.75 per cent on all purchases.

The new card addresses the needs of customers who are looking for a simple and straightforward way to earn a high rate of return on all of their everyday purchases, without having to track complicated programs that base rewards earn rates on spending tiers, caps or retail categories.

"We are delighted to be able to offer our new high-rate card to customers," said Nick Mastromarco, managing director, North American retail payments, BMO Bank of Montreal. "A BMO Cashback World Elite MasterCard customer who spends $3,500 per month on credit card purchases will earn $735 in cashback for the year -- more than any other card, based on typical household spending."

The new BMO CashBack World Elite MasterCard offers a 1.75-per-cent base earn rate, where customers earn $1.75 for every $100 spent -- the highest base earn rate in market. With one high earning rate, customers can easily keep track of their cashback earnings in all everyday spending categories, including retail, travel, grocery and gas.

Mr. Mastromarco added that customers can try the card for free for the first year. This $120 in savings allows customers try the card risk free -- helping them experience the simplicity and value of a single high-interest earn rate on all purchases.

"With the busy summer spending season quickly approaching, customers can take advantage of added savings and try the card for free for their first year. Earning $1.75 for every $100 spent on everything from groceries to kids summer camps to vacations can lead to significant returns year over year," added Mr. Mastromarco.

The BMO CashBack World Elite MasterCard also offers:

• No additional charge for supplementary cards;
• Roadside assistance -- worth $69 per year;
• Included insurance -- eight-day travel medical;
• Two-year extended warranty and 180-day purchase protection -- double the standard coverage.