Both the TD Cash Back Visa Infinite and the BMO CashBack World Elite Mastercard are premium cash back cards for everyday household spending. Both target grocery and gas spenders. But there are meaningful differences: different earn rates, different income requirements, different networks, and a $19 gap in annual fees. Here’s how they stack up.
Quick Verdict
| TD Cash Back Visa Infinite | BMO CashBack World Elite | |
|---|---|---|
| Choose if | You bank with TD, meet $60K income, and want a simple Visa with 3% on the big three categories | You meet the $80K income threshold and want the highest grocery cash back rate in Canada (5%) plus strong transit earn |
| Annual fee | $139 | $120 |
| Rating | 4.1/5 | 4.5/5 |
Side-by-Side Comparison
| Feature | TD Cash Back Visa Infinite | BMO CashBack World Elite |
|---|---|---|
| Annual fee | $139 | $120 |
| Additional cardholder | $75 | $50 |
| Income requirement | $60,000 personal / $100,000 HH | $80,000 personal / $150,000 HH |
| Network | Visa Infinite | Mastercard World Elite |
| Foreign transaction fee | 2.5% | 2.5% |
| Purchase interest rate | 20.99% | 20.99% |
| Cash back payout | Annual (automatic) | Annual (automatic) |
| Welcome bonus | Verify with TD | Verify with BMO |
Earn Rates: BMO Wins on Groceries, TD Wins on Simplicity
| Category | TD Cash Back Visa Infinite | BMO CashBack World Elite |
|---|---|---|
| Groceries | 3% | 5% |
| Transit / ride-share | 1% | 4% |
| Gas | 3% | 3% |
| Recurring bills | 3% | 2% |
| Everything else | 1% | 1% |
Grocery earn is the headline difference. BMO earns 5% vs TD’s 3% — a 2 percentage point gap that compounds significantly on typical household grocery spend.
Annual earning example ($800/month groceries, $200/month gas, $300/month bills, $200/month transit):
| Category | Monthly | TD (rate) | TD earn | BMO (rate) | BMO earn |
|---|---|---|---|---|---|
| Groceries | $800 | 3% | $24 | 5% | $40 |
| Gas | $200 | 3% | $6 | 3% | $6 |
| Bills | $300 | 3% | $9 | 2% | $6 |
| Transit | $200 | 1% | $2 | 4% | $8 |
| Monthly total | $41 | $60 | |||
| Annual total | $492 | $720 |
At this spending profile, BMO earns $228 more per year in cash back. After their respective annual fees ($139 TD vs $120 BMO), net annual value: TD = $353, BMO = $600. BMO wins by $247.
The only category TD leads: recurring bills at 3% vs BMO’s 2%. For households with very high recurring bill spend (e.g., $1,000/month), TD’s 1% advantage here earns $120/year more in bills — but BMO’s grocery advantage typically far exceeds this.
Income Requirement: TD Is More Accessible
| Card | Personal income | Household income |
|---|---|---|
| TD Cash Back Visa Infinite | $60,000 | $100,000 |
| BMO CashBack World Elite | $80,000 | $150,000 |
TD’s lower income threshold opens the card to more applicants. If your personal income is $60,000–$79,000, TD is an option; BMO is not. This is a significant practical difference for applicants in that income range.
If you don’t qualify for BMO’s World Elite tier, consider the BMO CashBack Mastercard (no fee, 3% groceries) as an alternative.
Annual Fee
Counterintuitively, BMO costs less ($120) than TD ($139) despite higher earn rates. Over 5 years, TD costs $95 more in fees while generally earning less. The TD card’s higher fee is difficult to justify when BMO outperforms it in both earn rates and annual cost.
Network Considerations
TD is Visa Infinite; BMO is Mastercard World Elite.
- Visa Infinite is accepted everywhere Visa is accepted, including some merchants that don’t accept Mastercard
- Mastercard World Elite is more widely accepted globally and includes World Elite benefits (access to certain airport and travel perks through Mastercard)
- Costco Canada: accepts only Mastercard — the BMO CashBack World Elite earns 1% at Costco; the TD Cash Back Visa Infinite is not accepted at Costco
For Costco shoppers: this is a meaningful differentiator. You cannot use the TD card at Costco.
Travel Insurance
Both cards include a travel insurance package through their respective networks:
| Coverage | TD Cash Back | BMO CashBack WE |
|---|---|---|
| Emergency medical | ✓ | ✓ |
| Trip cancellation | ✓ | ✓ |
| Trip interruption | ✓ | ✓ |
| Rental car collision | ✓ | ✓ |
| Purchase protection | ✓ | ✓ |
| Extended warranty | ✓ | ✓ |
Both are comprehensive for cash back cards. Verify specific limits and exclusions with each issuer — coverage periods and amounts vary.
Bottom Line
For most households, BMO CashBack World Elite Mastercard is the better card — lower annual fee, higher grocery earn rate, stronger transit earn, and accepted at Costco. The math favours BMO at almost any realistic spending profile.
Choose TD Cash Back Visa Infinite if:
- Your personal income is $60,000–$79,000 (you don’t qualify for BMO)
- You bank with TD and want an integrated experience
- You spend very heavily on recurring bills (3% vs BMO’s 2%)
- You need a Visa specifically (e.g., for merchants that don’t accept Mastercard)
Choose BMO CashBack World Elite Mastercard if:
- You meet the $80,000 income threshold
- Grocery spending is your largest cash back category (5% is Canada’s top grocery rate for Visa/Mastercard)
- You shop at Costco (Mastercard-only)
- You commute on transit and want 4% earn on those purchases
See Full Reviews
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Card details current as of June 2026. Earn rates, earn caps, income requirements, and welcome bonuses change — verify with TD and BMO before applying. See our Advertiser Disclosure.