Quick overview of the Desjardins Cash Back World Elite Mastercard
The Desjardins Cash Back World Elite Mastercard is a premium cash back credit card that offers up to 4% cash back on everyday categories and decent travel insurance coverage for a $100 annual fee ($30 for an additional card). Cash back with the card is automatically redeemed when cardholders accumulate $100 cash back. It’s a hassle-free card for those who prefer something low-maintenance.
Who’s the Desjardins Cash Back World Elite Mastercard for?
The Desjardins Cash Back World Elite Mastercard is designed for high-income earners, frequent spenders, travelers, cash back enthusiasts and those seeking premium benefits.
Pros and cons
Pros
-
Generous rewards: Earn up to 4% back on everyday purchases.
-
Manageable annual fee: $100 annual fee is slightly lower than similar cards from other issuers.
Cons
-
Spending caps: Cash back on groceries is capped at $10,000 in spending per year while dining is capped after $6,000 in spending per year.
-
No welcome bonus: Desjardins Bank does not offer welcome bonuses on its credit cards.
-
Limited insurance: The card provides some travel insurance but the coverage is smaller than you might find elsewhere.
Desjardins Cash Back World Elite Mastercard welcome bonus
The Desjardins Cash Back World Elite Mastercard does not currently offer a welcome bonus.
How to earn points with the Desjardins Cash Back World Elite Mastercard
The Desjardins World Elite Mastercard is the bank’s premier cash back card; as such, it offers the bank’s best rewards on select purchases:
- Earn up to 4% back on grocery store purchases
- Earn up to 3% back on restaurants, entertainment and alternative transportation
- Earn 1% back on all other purchases
You probably noticed that the first two spending categories are listed as earning “up to” a certain amount. That’s because two of those categories are capped. After you reach those spending caps, you’ll earn unlimited 1% cash back on purchases in that category until the end of the year. Here are the spending caps:
Cardholders can also earn additional cash back with the Mastercard Travel Rewards program when using the Cash Back World Elite Mastercard outside of Canada.
What qualifies as “alternative transportation”?
Cash Back World Elite Mastercard holders earn 3% back on alternative transportation, but what exactly does that mean? Desjardins Bank classifies the following purchases as “alternative transport”:
- Commuter passenger transportation
- Taxis
- Limousines
- Buses
- Public charging stations
How to redeem points
Redeeming cash back with the Desjardins Cash Back World Elite Mastercard is simple — so simple that you don’t need to do anything at all. Your account is automatically credited when you accumulate $100 cash back.
Desjardins Cash Back World Elite Mastercard key benefits
Cash back rewards
The big selling point of the Desjardins Cash Back Card is its lucrative cash back rewards. Those rewards include up to 4% back on groceries and 3% back on dining, although these categories are capped at $10,000 and $6,000 annually, respectively.
Despite these caps, the card is a lucrative earner. According to Desjardins, if cardholders spend $800 a month on groceries, they stand to earn $32 cash back every month ($800 x 4% of your purchases), or $384 a year for that category.
Travel benefits
While the Cash Back World Elite Mastercard is a cash back card at heart, it still provides some travel benefits that may entice potential applicants. Chief among those perks is airport lounge access through DragonPass:
- Access over 1,300 airport lounges in more than 140 countries, courtesy of Mastercard Travel Pass External link provided by DragonPass.
It’s worth noting that this lounge benefit does not provide any free visits. Instead, the Mastercard Travel Pass is just that — a pass, with visits requiring a separate charge.
The card also provides another unique travel perk: free travel insurance for you and your family for up to three days. Should you need more travel insurance? Desjardins offers a quick online process to get
Desjardins Cash Back World Elite Mastercard insurance coverage
Extra benefits of the Desjardins Cash Back World Elite Mastercard
- Get up to 25% off and several other advantages when you use your Desjardins credit card to rent a car at Hertz, Thrifty and Dollar
- Unlock a complimentary Flexiroam International eSIM Plan. Enjoy seamless, hassle-free connectivity. The World Elite Mastercard unlocks a complimentary three x 1GB Global Data Roaming eSIM Plan and 15% off on future purchases of eSim Plans
- Mastercard World Elite benefits and travel perks
What people have to say about the Desjardins Cash Back World Elite Mastercard
The consensus with many cardholders is that the card is solid but lacks something special to make it a better option than cards from rivals. User Kiraly noted on an online forum that the Desjardins Cash Back World Elite is a ”decent card for the low-ish annual fee. But I still prefer my Meridian Visa, the same rewards on groceries, plus 4% on gas and a superior insurance package.”
Cardholder Murray Bell was left frustrated by the addition of spending caps in summer of 2024:
“This card was 5 stars until I received a notice this month that they are cutting back on their rewards effective Jan 1, 2024. You still get 4% on groceries and 3% on restaurants but there is now an annual spend limit… will limit the rewards you can receive.”
How the Desjardins Cash Back World Elite Mastercard compares
Desjardins Cash Back World Elite Mastercard vs. BMO CashBack® World Elite®* Mastercard®*
BMO CashBack® World Elite®* Mastercard®*
4.9
up to 10%
Welcome offerExcellent
Suggested credit scoreGet up to 10% cash back in your first 3 months and the $120 annual fee waived in the first anniversary*.
Expires
Jun 1, 2025
Pros
-
Valuable sign-up bonus
-
High 5% cash back rate on groceries
-
Free roadside assistance
-
Excellent extended warranty and purchase protection terms
Cons
-
Restrictive spending limits for most cash back categories
-
Sign-up bonus structure is head-scratchingly complicated
-
High minimum income requirements
Eligibility
Excellent
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Recommended Credit Score
Excellent
Required Annual Personal Income
$80,000
Required Annual Household Income
$150,000
5%
Groceries: 5% cash back up to $500 spent per month ($25 in cash back)*
4%
Transit: 4% cash back up to $300 spent per month ($12 in cash back)*
3%
Gas: 3% cash back up to $300 spent per month ($9 in cash back)*
2%
Recurring Bills: 2% cash back up to $500 spent per month ($10 in cash back)*
1%
Everything Else: 1% cash back, unlimited*
Groceries: 5% cash back up to $500 spent per month ($25 in cash back)*
5%
Transit: 4% cash back up to $300 spent per month ($12 in cash back)*
4%
Gas: 3% cash back up to $300 spent per month ($9 in cash back)*
3%
Recurring Bills: 2% cash back up to $500 spent per month ($10 in cash back)*
2%
Everything Else: 1% cash back, unlimited*
1%
20.99%
Purchase APR
23.99%
Balance Transfer Rate
23.99%
Cash Advance APR 21.99% for Quebec residents
$120
Annual Fee annual fee waived in the first year*
2.5%
Foreign Transaction Fee
Purchase APR
20.99%
Balance Transfer Rate
23.99%
Cash Advance APR
23.99%
Annual Fee
$120
Foreign Transaction Fee
2.5%
Pros
-
Valuable sign-up bonus
-
High 5% cash back rate on groceries
-
Free roadside assistance
-
Excellent extended warranty and purchase protection terms
Cons
-
Restrictive spending limits for most cash back categories
-
Sign-up bonus structure is head-scratchingly complicated
-
High minimum income requirements
Eligibility
Excellent
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Recommended Credit Score
Excellent
Required Annual Personal Income
$80,000
Required Annual Household Income
$150,000
5%
Groceries: 5% cash back up to $500 spent per month ($25 in cash back)*
4%
Transit: 4% cash back up to $300 spent per month ($12 in cash back)*
3%
Gas: 3% cash back up to $300 spent per month ($9 in cash back)*
2%
Recurring Bills: 2% cash back up to $500 spent per month ($10 in cash back)*
1%
Everything Else: 1% cash back, unlimited*
Groceries: 5% cash back up to $500 spent per month ($25 in cash back)*
5%
Transit: 4% cash back up to $300 spent per month ($12 in cash back)*
4%
Gas: 3% cash back up to $300 spent per month ($9 in cash back)*
3%
Recurring Bills: 2% cash back up to $500 spent per month ($10 in cash back)*
2%
Everything Else: 1% cash back, unlimited*
1%
20.99%
Purchase APR
23.99%
Balance Transfer Rate
23.99%
Cash Advance APR 21.99% for Quebec residents
$120
Annual Fee annual fee waived in the first year*
2.5%
Foreign Transaction Fee
Purchase APR
20.99%
Balance Transfer Rate
23.99%
Cash Advance APR
23.99%
Annual Fee
$120
Foreign Transaction Fee
2.5%
The BMO CashBack World Elite Mastercard is an impressive cash back card. For the card’s $120 annual fee, you get a high 5% cash back up to $500 spent per month on groceries, 4% cash back on transit, including ride sharing, taxis and public transportation, 3% cash back on gas and EV charging, 2% cash back on recurring bills and 1% back on everything else.
Even better, there’s bonus cash back for the first few months of card membership: Get up to 10% cash back in your first three months and the $120 annual fee waived on the first anniversary.
There are some great travel features, too. Enjoy a complimentary membership in the Dominion Automobile Association (DAA) - a $69 value. Plus there’s travel insurance, flight and baggage delay protection and more.
Disclosures:
- *Terms and conditions apply.
- BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.
Desjardins Cash Back World Elite Mastercard vs. CIBC Dividend® Visa Infinite*
CIBC Dividend® Visa Infinite* Card
4.2
10% back†
Welcome offerGood
Suggested credit scoreGet a first-year annual fee rebate for you and up to three Authorized Users† and earn 10% cash back for the first 4 statements on net purchases of up to $3,000†.
Pros
-
First-year annual fee rebate
-
10% cash back welcome bonus up to $3,000 spend
-
4% cash back on gas, electric vehicle charging and grocery stores
-
2% cash back on transportation, dining and recurring payments
-
High annual spending cap on benefits ($20,000 in bonus categories or $80,000 total)
Cons
-
High income requirement
-
Sparse travel insurance offering
Eligibility
Good
Recommended Credit Score
$60,000†
Required Annual Personal Income
$100,000†
Required Annual Household Income
Recommended Credit Score
Good
Required Annual Personal Income
$60,000†
Required Annual Household Income
$100,000†
4%
cash back on eligible gas, EV charging, and grocery purchases.†
2%
cash back on eligible transportation, dining purchases and recurring payments†
1%
cash back on all other purchases†
10 cents
save up to 10 cents per litre† at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.†
cash back on eligible gas, EV charging, and grocery purchases.†
4%
cash back on eligible transportation, dining purchases and recurring payments†
2%
cash back on all other purchases†
1%
save up to 10 cents per litre† at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.†
10 cents
20.99%†
Purchase APR non-Quebec residents†
22.99%†
Balance Transfer Rate non-Quebec residents†
22.99%†
Cash Advance APR non-Quebec residents†
$120
Annual Fee First year rebated†. Each additional card is $30 per year, max 3 — first year rebated†
2.5%
Foreign Transaction Fee
Purchase APR
20.99%†
Balance Transfer Rate
22.99%†
Cash Advance APR
22.99%†
Annual Fee
$120
Foreign Transaction Fee
2.5%
Pros
-
First-year annual fee rebate
-
10% cash back welcome bonus up to $3,000 spend
-
4% cash back on gas, electric vehicle charging and grocery stores
-
2% cash back on transportation, dining and recurring payments
-
High annual spending cap on benefits ($20,000 in bonus categories or $80,000 total)
Cons
-
High income requirement
-
Sparse travel insurance offering
Eligibility
Good
Recommended Credit Score
$60,000†
Required Annual Personal Income
$100,000†
Required Annual Household Income
Recommended Credit Score
Good
Required Annual Personal Income
$60,000†
Required Annual Household Income
$100,000†
4%
cash back on eligible gas, EV charging, and grocery purchases.†
2%
cash back on eligible transportation, dining purchases and recurring payments†
1%
cash back on all other purchases†
10 cents
save up to 10 cents per litre† at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.†
cash back on eligible gas, EV charging, and grocery purchases.†
4%
cash back on eligible transportation, dining purchases and recurring payments†
2%
cash back on all other purchases†
1%
save up to 10 cents per litre† at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.†
10 cents
20.99%†
Purchase APR non-Quebec residents†
22.99%†
Balance Transfer Rate non-Quebec residents†
22.99%†
Cash Advance APR non-Quebec residents†
$120
Annual Fee First year rebated†. Each additional card is $30 per year, max 3 — first year rebated†
2.5%
Foreign Transaction Fee
Purchase APR
20.99%†
Balance Transfer Rate
22.99%†
Cash Advance APR
22.99%†
Annual Fee
$120
Foreign Transaction Fee
2.5%
The CIBC Dividend Visa Infinite is another premium cash back card that charges a $120 annual fee, though CIBC waives that charge for the first year. Like the Desjardins card, the Dividend Visa Infinite earns 4% back on groceries — but that 4% cash back also applies to gas and eligible EV charging purchases. Additionally, that 4% back is capped at a much higher $$20,000 per year, significantly more than the Desjardins Cash Back.
The Dividend Visa Infinite also offers a welcome bonus, something lacking with Desjardins:
Get a first-year annual fee rebate for you and up to three Authorized Users† and earn 10% cash back for the first 4 statements on net purchases of up to $3,000†.
Disclosures:
- †Terms and Conditions Apply. This offer is not available for the residents of Quebec.
- The information for the CIBC Dividend® Visa Infinite* Card has been collected independently by Money.ca. The card details on this page have not been reviewed or provided by the card issuer.
Desjardins Cash Back World Elite Mastercard vs SimplyCash® Preferred Card from American Express
SimplyCash® Preferred Card from American Express
4.6
up to 10% back
Welcome offerExcellent
Suggested credit scoreEarn a bonus 10% cash back on purchases in your first 3 months (up to $2,000 in purchases).
Pros
-
Competitive cash back rates: Up to 4% on gas and groceries, and more
-
Refer-a-friend bonus up to $750 annually
-
Extra benefits like rental car insurance and travel accident coverage
-
Manufacturer's warranty doubled on purchases
Cons
-
$9.99/month fee ($119.88 annually)
-
Cash back redeemed annually in September
-
Not all benefits may be relevant to all users
-
Limited to American Express acceptance
Eligibility
Excellent
Recommended Credit Score
Recommended Credit Score
Excellent
4%
cash back on eligible gas station purchases in Canada
4%
cash back on eligible grocery store purchases in Canada (up to $1,200 cash back annually)
2%
cash back on all other purchases
cash back on eligible gas station purchases in Canada
4%
cash back on eligible grocery store purchases in Canada (up to $1,200 cash back annually)
4%
cash back on all other purchases
2%
21.99%
Purchase APR
21.99%
Cash Advance APR *
$119.88
Annual Fee $9.99 per month. Additional cards are free.
2.5%
Foreign Transaction Fee 2.5% of the transaction in CDN
Purchase APR
21.99%
Cash Advance APR
21.99%
Annual Fee
$119.88
Foreign Transaction Fee
2.5%
Pros
-
Competitive cash back rates: Up to 4% on gas and groceries, and more
-
Refer-a-friend bonus up to $750 annually
-
Extra benefits like rental car insurance and travel accident coverage
-
Manufacturer's warranty doubled on purchases
Cons
-
$9.99/month fee ($119.88 annually)
-
Cash back redeemed annually in September
-
Not all benefits may be relevant to all users
-
Limited to American Express acceptance
Eligibility
Excellent
Recommended Credit Score
Recommended Credit Score
Excellent
4%
cash back on eligible gas station purchases in Canada
4%
cash back on eligible grocery store purchases in Canada (up to $1,200 cash back annually)
2%
cash back on all other purchases
cash back on eligible gas station purchases in Canada
4%
cash back on eligible grocery store purchases in Canada (up to $1,200 cash back annually)
4%
cash back on all other purchases
2%
21.99%
Purchase APR
21.99%
Cash Advance APR *
$119.88
Annual Fee $9.99 per month. Additional cards are free.
2.5%
Foreign Transaction Fee 2.5% of the transaction in CDN
Purchase APR
21.99%
Cash Advance APR
21.99%
Annual Fee
$119.88
Foreign Transaction Fee
2.5%
The SimplyCash® Preferred Card is the premium cash back option of American Express. The card earns similar rewards to the Desjardins Cash Back World Elite Mastercard, earning 4% back on eligible gas and groceries in Canada. That cash back on groceries is capped at $$1,200 cash back annually, a higher spend cap than Desjardins provides. Cardholders also earn 2% back on all other purchases.
The SimplyCash Preferred also provides a juicy welcome offer for new accounts:
- Earn a bonus 10% cash back on purchases in your first 3 months (up to $2,000 in purchases).
Disclosures:
- Contact American Express for the most up-to-date referral bonus figures.
American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.
Is the Desjardins Cash Back World Elite Mastercard worth it?
The Desjardins Cash Back World Elite Mastercard is worth considering if you're a frequent spender in categories like groceries, restaurants, entertainment and public transit. The card’s annual fee is reasonable and the earn rates and spending caps are fairly generous. However, if you're a frequent international traveler or take longer trips, you might want to consider a card with more comprehensive travel benefits and no foreign transaction fees.
Desjardins Cash Back World Elite Mastercard eligibility criteria
You’ll need to meet the following criteria to qualify for the Desjardins Bank Cash Back World Elite Mastercard:
- Canadian resident of the age of majority in your province or territory
- Good credit score
- $80,000 minimum personal income or $150,000 annual income
Cory Santos is a finance writer, editor and credit card expert with nearly a decade of experience in personal finance. Cory joined Wise Publishing from BestCards, with bylines in numerous print and digital publications across North America, including the Miami Herald, St. Louis Post-Dispatch, Debt.ca, AOL, MSN and Medium as well as financial podcasts like KOFE Talk.
Compare credit cards in Canada
Compare credit cards in Canada
Compare other cash back credit cards
Compare other cash back credit cards
Latest Articles
Disclaimer
The content provided on Money.ca is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter. Advertisers are not responsible for the content of this site, including any editorials or reviews that may appear on this site. For complete and current information on any advertiser product, please visit their website.