BMO World Elite Mastercard Review: A New Breed of Canadian Travel Card
Are you looking to earn easy, redeem easy and take it easy? How about a credit card that allows you to book any airline, any time with no restrictions, offers a 20,000 BMO Rewards sign-up bonus and has a market leading 2% earn rate on ALL spend. Oh, and one more thing, until November 30th, 2017, you’ll get a $150 annual fee waiver in the first year!
The BMO World Elite Mastercard has quickly become one of Canada’s leading travel credit cards, with one of the hottest welcome bonus offers in Canada today – An annual fee waiver of $150, 20,000 points, super travel insurance and 4 free lounge passes per year worth over $200!
The 20,000 sign-up bonus points for the BMO World Elite Mastercard will get you travel credit to use whenever, on whatever airline, with no blackout dates at BMO’s travel center – including taxes and fees. The only thing you’ll have to do to earn the bonus is activate your credit card with an initial purchase – buying a pack of gum will do. BMO’s paying you to try the card, without a whole lot of hurdles – take it.
BMO World Elite MasterCard Benefits
BMO points are easy to calculate and easy to earn. One point equals 1 cent at BMO’s travel center e.g. 30,000 points equals $300. You will earn 2 BMO Reward points per dollar spent on all credit card spend (no caps, no tiers), translating to a 2% earn rate for each dollar you spend on your BMO World Elite MasterCard.
Put another way, spend $10,000 on your credit card, earn 20,000 points, redeem for $200 of travel. Simple stuff.
While you’ll be able to book any travel, anywhere, anytime with no black out periods or seat restrictions, you’ll have to book on BMO’s online travel center. All fares are published in their dollar value, as opposed to a point or mile value, increasing transparency.
To make sure you redeem your points at the lowest possible price, BMO has a price match guarantee. They’ll match the lowest price of any fare advertised to the general Canadian public. So now you can look for the best price on AirCanada.com, WestJet.com or a branded hotel website, and get the price matched through BMO Rewards, an awesome deal.
Here are some of the additional perks that help this card stand-out from the pack:
- VIP Lounge Access Get a standard Priority Pass lounge membership (US$99 value) plus 4 free VIP lounge visits per membership year (worth over $200) at over 700 lounges worldwide (including Toronto, Montreal, Calgary, Edmonton and Vancouver)
- Comprehensive travel insurances: Get out of province/country travel medical, trip cancellation, trip interruption, trip delay, flight delay, car rental collision & loss, baggage, purchase security and extended warranty – as robust as it gets.
- Redeem for Taxes & Fees: Unlike Aeroplan, you can also use your BMO points to pay for airfare taxes and fees. Unlike Avion, you can do so at an earn rate of 2%, instead of 1% to 1.25% with the Avion card.
- Price Match Guarantee: If you find a fare lower than that available at BMO’s travel centre, they’ll match it (there are some restrictions, but it keeps BMO honest nonetheless).
- Free Top-ups: If you don’t have enough points for the full cost of your trip, you can pay the difference with your BMO MasterCard – with no mark-ups.
- Points will not expire: As long as you are a BMO World Elite MasterCard holder your points won’t expire.
- Concierge Services: 24/7 access to BMO’s Concierge Service where you’ll get free dining and entertainment reservations and recommendations
Best Costco MasterCard in Canada
Interestingly, with a 2% earn rate on all spend, including at Costco, the BMO World Elite MasterCard is now the highest earning credit card accepted at Costco. In fact, it more than DOUBLES the rewards you can earn at Costco when compared to Costco’s own Capital One Platinum MasterCard, which for the Costco card is up to 1% after your first $3,000 in spend.
With the sign-up bonus now at 20,000 points and the stellar $150 annual fee waiver in the first year of cardmembership, this card offers real value. Considering all you have to do to earn the bonus is make one purchase, the hurdle is easy to achieve. A 2% earn rate on all spend is top of the line for a travel card.
The perks on the BMO World Elite MasterCard give a lot more value than the $150 annual fee, making the card a great travel companion in its own right. For example, priority pass lounge membership alone is worth over $100, plus you get 4 VIP lounge guest passes per year – also worth over $100, and the travel insurances can be worth over $500!
You will need to either have a minimum personal income of $80,000 or a minimum household income of $150,000 to be eligible for the card.
*Please note that the 20,000 mile signup bonus and first year fee waiver are only applicable on applications processed before November 30th, 2017.