The BMO AIR MILES World Elite Mastercard Review
A generous bonus of 3,000 AIR MILES, while impressive, is just an introduction to the heap of rewards offered by the BMO®AIR MILES®† World Elite®* Mastercard®*. Cardholders will truly feel ‘elite’, with priority status at airport lounges worldwide, up to 25% off on car rentals and flights that are redeemed with AIR MILES, plus a comprehensive insurance package.
At a Glance:
- 3,000 AIR MILES introductory bonus (expires November 30th, 2017)
- $120 annual fee waived in the first year (expires November 30th, 2017)
- Earn 1 mile for every $10 spent
- Earn miles at double the rate at AIR MILES sponsors
- Receive up to 25% off Alamo and National car rentals
- 2x Reward Miles at Alamo and National Car Rentals chains
- VIP Airport Lounge access
With a World Elite Mastercard, AIR MILES build quickly from most purchases, given a blanket 1 mile for every $10 spent, plus double the rate when shopping at eligible stores. Fortunately, many of the most popular stores in Canada are participating in the program, including Ace Hardware, Foodland, Hilton Hotels, IGA, Jean Coutu pharmacies and more. Spend about $1,000 a month on the BMO AIR MILES World Elite Mastercard, and the cardholder can easily earn over 5,000 AIR MILES – enough to redeem a trip from Canada to Cancun.
Why We Like It:
- 3,000 AIR MILE Bonus: As a gift to new members, BMO credits 1,000 AIR MILES with a single purchase on their World Elite Mastercard. The miles will hit the cardholder’s account within 45 days, and immediately represents enough to redeem for a short-haul flight. Then, reaching a total spend of $3,000 on your card will earn you another 2,000 bonus miles, that will be found on a cardholder’s account within 60 days following the qualifying $3,000 spend. These bonus miles can also be saved for later: the high-pace accrual of AIR MILES with this card makes it easy to fund a long-distance vacation every year.
- Earn Miles Fast: One AIR MILE is a welcomed reward for spending $10 with the BMO World Elite Mastercard, as most short-haul flights within Canada cost around 1,000 AIR MILES. The broad mileage accrual rate of 1 per $10 spent on everything is faster than many competing credit cards, and lets cardholders earn without discriminating on the basis of where they shop or what they buy.
- Discount on Redemption: When redeeming AIR MILES for airfare, cardholders get an additional 25% off the total miles required. This directly increases the value of rewards, and helps to make vacations more frequent and inexpensive for those with the privilege of being a World Elite member.
- Rental Discounts: Whether a journey is domestic or international, you need to figure out a way to get around once the plane has landed. Thankfully, an extra 25% off the price of a car rental awaits for cardholders that go to Alamo and Budget to rent their vehicles.
- Surplus of Sponsors: Those spending at a wide range of AIR MILES partners get double the miles when using their World Elite card, meaning 1 AIR MILE for every $5 spent. The requirement to shop at these stores is not at all restrictive, because an enormous number of sponsors include many of the most popular Canadian Stores.
- Vast Protection: Travelers are covered with some of the finest insurance plans that credit cards can offer, including protection against trip cancellation, damage or collision in a rental car, out-of-province or country emergency medical assistance and more. Items bought with the card are also protected, with 90 days of coverage after a new purchase and warranty extensions as well.
- VIP Lounge Access: Each cardholder gets 2 annual passes to a luxurious airport lounge, among those in a network of hundreds worldwide at the most popular international terminals. They also receive priority access to these lounges when not using their pass, but will be charged a small fee for each entry.
Is It Worth It?
For travelers that find themselves in the air often, whether on a business trip or having an adventure, the BMO AIR MILES World Elite credit card makes a big difference. Cardholders earn AIR MILES quickly with a big introductory bonus and fast accrual from most purchases, which they can redeem to cut their bills by hundreds or even thousands of dollars each year, all while traveling in style. Moreover, Mastercard and BMO protect customers and their purchases with a competitive package of insurance features.
The only downside to the card is that its elite benefits come with strict application requirements. Applicants must have an $80K per year income (or 150K combined household income), as well as a very high credit score. But if you qualify, you’ll enjoy all the most exclusive benefits of a travel rewards system at the top of its field.