If you’re an avid Air Miles collector, the BMO Air Miles World Elite Mastercard might be the card for you. Otherwise this card probably doesn’t provide the value that other cards in the same price category do. This article outlines the details to help you decide whether this card makes sense for your travel needs!
Card Features
Annual Fees
The primary cardholder is charged an annual fee of $120, which is waived for the first year. For additional cardholders, the annual fee is set at $50 each.
Interest Rates
The BMO Air Miles World Elite Mastercard carries an interest rate of 20.99% for purchases and 23.99% for cash advances.
Welcome Bonuses
New cardholders can earn 2,000 Air Miles as a welcome bonus by spending a minimum of $3,000 within the first three months of account opening.
Eligibility Requirements
Applicants need to have a minimum income of $80,000 or a minimum household income of $150,000 to qualify.
Rewards Program Breakdown
Base Earning Rate
Cardholders earn 1 Mile for every $12 in credit card purchases.
Category Bonuses
- Earn 3 Miles for every $12 spent at Air Miles reward partners.
- Earn 2 Miles for every $12 spent at grocery stores.
Travel Benefits and Perks
Travel Insurance
The BMO Air Miles World Elite Mastercard comes with an extensive travel insurance package, including:
- Trip Cancellation coverage.
- Collision Damage Waiver benefits on rental cars.
- 15 days of Out-of-Province/Out-of-Country Emergency Medical benefits with coverage up to $2 million.
Airport Lounge Access
Cardholders are eligible for a membership in Mastercard Travel Pass. However, lounge access comes at a charge of $32 USD per visit.
Travel Credits
Cardholders receive a 25% discount on one Air Miles flight per calendar year, which is one of the better perks this card has to offer.
Additional Benefits
Purchase Protection
Most items purchased are automatically insured against theft or damage for 90 days from the date of purchase.
Extended Warranty
The credit card extends the original manufacturer’s warranty period, doubling it up to a maximum of one additional year.
Final Thoughts
In conclusion, the BMO Air Miles World Elite Mastercard could be an ideal match for those deeply invested in accumulating Air Miles. However, for those who are not as committed to the Air Miles program, alternative cards within a similar price range might offer better value. The specifics outlined in this article aim to equip you with the necessary information to discern if this card aligns with your travel preferences and financial objectives.
