BMO AIR MILES MasterCard Review
Dreaming of your next vacation? Earn AIR MILES on everyday purchases to get there faster.
19.99%
Purchase Interest Rate
$0
Annual Fee
1.99% for the first 9 months (then 22.99%)
Balance Transfer Rate
Details
| Product Name | BMO AIR MILES MasterCard |
|---|---|
| Reward | Earn 2x AIR MILES reward miles per $20 spend at eligible AIR MILES partners. |
| Welcome Offer | Earn up to 800 AIR MILES bonus miles with minimum spend of $1,000 in the first three months. Ends January 15, 2020 |
| 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 |
| Go to site More Info |
The BMO AIR MILES MasterCard offers 1 mile for every $$20 you spend on everyday purchases. It also comes with a welcome offer, basic insurance and an introductory balance transfer rate.
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 more miles. Earn 1 mile for every $20 you spend on your card (or around 50 miles for every $1,000 spent).
- Welcome bonus. Receive a welcome bonus equivalent to a one-way short-haul flight (for example, from Vancouver to Kelowna).
- Flexible redemption. Redeem your miles for travel and merchandise.
- Earn 2x the rewards. Get rewarded twice when you show your membership and spend money on your card at AIR MILES partners.
- Purchase protection. Take advantage of extended warranty and insurance coverage on products you buy with your card.
- Low balance transfer rate. Get a 1.99% interest rate on balances you transfer from other credit cards in your first 9 months (but pay a 1% transfer fee).
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. You’ll only earn 50 AIR MILES for every $1,000 you spend (which means you’ll have to spend at least $20,000 to get one short-haul return flight in Canada).
- Conditional welcome bonus. You’ll only receive 400 of your bonus offer miles after you spend $1,000 in your first 3 months.
- High interest. You’ll pay around 19.99% interest on outstanding balances and even more 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
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.