BMO AIR MILES Mastercard Review

Last updated: 11 February 2020

Dreaming of your next vacation? Earn AIR MILES on everyday purchases to get there faster.

Earn up to 800 AIR MILES Bonus Miles. Receive 400 AIR MILES when you make your first eligible purchase and earn 400 AIR MILES when you spend a minimum of $1,000 on eligible purchases within the first three months. Apply by March 3, 2020. Plus, get a rate of 1.99% on balance transfers for 9 months with a 1% transfer fee.

19.99%

Purchase Interest Rate

Annual Fee

1.99% for the first 9 months (then 22.99%)

Balance Transfer Rate

Details

Product Name	BMO AIR MILES Mastercard
Reward	Get 2 AIR MILES for every $20 spent at eligible AIR MILES partners, and get 1 AIR MILE for every $20 spent elsewhere.
Welcome Offer	Earn up to 800 AIR MILES Bonus Miles. Receive 400 AIR MILES when you make your first eligible purchase and earn 400 AIR MILES when you spend a minimum of $1,000 on eligible purchases within the first three months. Apply by March 3, 2020. Plus, get a rate of 1.99% on balance transfers for 9 months with a 1% transfer fee.
Purchase Interest Rate	19.99%
Cash Advance Rate	22.99%
Balance Transfer Rate	1.99% for the first 9 months (then 22.99%)
Interest Free Period	Up to 21 days
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Annual Fee	$0
Monthly Service Fee	N/A
Over Credit Line Fee	$29
Balance Transfer Fee	1%
Penalty APR	24.99%
Dishonoured Payment Fee	$48
Foreign Currency Conversion Fee	2.5%
Cash Advance Minimum Fee	$5
Late Payment Fee	N/A
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Credit Rating	Good
Minimum Age	Age of majority in the province/territory of residence.
Minimum Income	$15,000
Household Income	N/A
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Claire Horwood

Claire Horwood graduated with a Bachelor of Arts from the University of Victoria, and became a freelance writer in 2017. She has traveled extensively (24 countries and counting) and enjoys working remotely for clients all over the world. In her spare time, Claire loves rock climbing, drinking inordinate amounts of coffee and reading the epic graphic novel series, SAGA.

30-second take

Think about this card if you collect AIR MILES but don’t want to pay an annual fee.

Choose something else if you’d rather get more travel benefits or a low interest rate.

There’s no minimum annual income required to qualify for this card.

The basics

Whether you’re a frequent flyer or an avid AIR MILES collector, chances are you could benefit from the BMO AIR MILES Mastercard.

No annual fee. Save money with no annual fee.
Collect AIR MILES. Get 2 AIR MILES for every $20 spent at eligible AIR MILES partners, and get 1 AIR MILE for every $20 spent elsewhere.
Signup bonus. Earn up to 800 AIR MILES Bonus Miles. Receive 400 AIR MILES when you make your first eligible purchase and earn 400 AIR MILES when you spend a minimum of $1,000 on eligible purchases within the first three months. Apply by March 3, 2020.
Flexible redemption. Redeem your miles for travel and merchandise.
Purchase protection. Take advantage of extended warranty and insurance coverage on products you buy with your card.
Balance transfer offer. Get a rate of 1.99% on balance transfers for 9 months. A 1% transfer fee will be charged for each transferred balance.

The perks

Zero liability. Rest easy knowing that you won’t have to pay if there are fraudulent charges on your account.
24/7 support. Talk to customer service at any time of day to troubleshoot issues you might have with your card.
Optional benefits. Pay more for added benefits like roadside assistance, balance protection or credit card alerts.
No fee for additional cards. Get as many cards as you want without having to pay an extra fee.

What to watch out for

Low return. Since the card has no annual fee, the AIR MILES earn rate is much lower per $1 spent.
High interest. You’ll pay around 19.99% interest on outstanding balances and 22.99% for cash advances.
No travel perks. Unlike the World Elite version of this card, you won’t get travel benefits like medical insurance, airport lounge access or flight discounts.

What should I know before I apply

To apply for a BMO AIR MILES Mastercard, you need to meet the following criteria:
- Be a Canadian citizen or permanent resident who is at least 18 years old (19 in some provinces).
- Your name, residential status and contact information.
- Your social insurance number and date of birth.
- Your email address and phone number.

How to apply

Click “Go to site” on this page to be directed to the BMO AIR MILES Mastercard application.
Complete the application, which includes providing your name, email address, social insurance number and birth date.
Review and submit your application.

Bottom line

The BMO AIR MILES Mastercard is a good fit for AIR MILES members who want to collect more miles but don’t want to pay an annual fee. This card comes with a welcome offer, basic insurance and an introductory balance transfer rate.