BMO AIR MILES Mastercard review

Our verdict

Our verdict

Whether you're a frequent flyer or an avid Air Miles collector, the BMO AIR MILES Mastercard could be the right fit for you. Aside from earning Air Miles, you'll also be able to take advantage of an attractive balance transfer offer.

Best for: Those who want to collect Air Miles with every purchase and take advantage of an attractive balance transfer offer.

Pros

• $0 annual fee
• Get a rate of 0.99% on balance transfers for 9 months. A 2% transfer fee will be charged for each transferred balance.
• Get a welcome bonus of up to 800 Miles
• Earn up to 3x Miles per $1 spent

Cons

• Low return on points compared to other cards on the market
• No travel related perks like airport lounge access

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Purchase Interest Rate

20.99%

Cash Advance Rate

22.99%

Balance Transfer Rate

0.99% for the first 9 months

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BMO AIR MILES Mastercard

Learn more on BMO's secure site

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Features of the BMO AIR MILES Mastercard

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What we like about the BMO AIR MILES Mastercard

• No annual fee. Save money with a $0 annual fee.
• Collect AIR MILES. Get 3x the Miles for every $25 spent at participating AIR MILES Partners, 2x the Miles for every $25 spent at any eligible grocery store, and 1 AIR MILE for every $25 spent elsewhere.
• Signup bonus. Get 800 AIR MILES Bonus Miles (enough for $80 towards purchases with AIR MILES Cash).
  
• Flexible redemption. Redeem your Miles for travel, merchandise and gift cards.
• Low minimum income requirement. To qualify for the BMO AIR MILES Mastercard, you’ll only need to have a minimum income of $15,000.
• Additional perks. Save up to 25% off rentals at participating National Car Rental and Alamo Rent a Car locations. Get 15% off admission to Cirque du Soleil shows touring Canada48, and 20% off resident shows in Las Vegas.
• Purchase protection. Take advantage of extended warranty and insurance coverage on products you buy with your card.
• Balance transfer offer. Get a rate of 0.99% on balance transfers for 9 months. A 2% transfer fee will be charged for each transferred balance.
  
• 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 BMO AIR MILES Mastercard has no annual fee, the AIR MILES earn rate is much lower per $1 spent.
• High interest. You’ll pay around 20.99% interest on outstanding balances and 22.99% (21.99% for Quebec residents) 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.

BMO AIR MILES Mastercard interest rates

What should I know before I apply for the BMO AIR MILES Mastercard

To apply for a BMO AIR MILES Mastercard, you need to meet the following criteria:

Eligibility requirements

• Be a Canadian citizen or permanent resident
• Be the age of majority in the province/territory of residence
• Have not declared bankruptcy in the past 7 years
• Meet minimum income requirements

Required documents and information

• Your name, residential status and contact information
• Your Social Insurance number (SIN) and date of birth
• Your email address and phone number

How to apply for the BMO AIR MILES Mastercard

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

Bottom line on the BMO AIR MILES Mastercard

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.

BMO AIR MILES Mastercard FAQs

• Does the BMO AIR MILES MasterCard offer a welcome bonus?

  Yes, depending on when you sign up. Get 800 AIR MILES Bonus Miles (enough for $80 towards purchases with AIR MILES Cash).
  Get a rate of 0.99% on balance transfers for 9 months. A 2% transfer fee will be charged for each transferred balance.
  

• What can I redeem my BMO AIR MILES MasterCard rewards for?

  You can redeem your BMO AIR MILES MasterCard rewards at rewards.airmiles.ca for merchandise, like the latest tech, kitchen appliances and fashion from brands like Samsung, Cuisinart and lululemon. As for travel, you can save on seat sales or get access to specials and promotions from partner airlines including Air Canada, Delta, WestJet and Air Transat.

• Will my AIR MILES expire?

  No. As long as your account is active and in good standing, your points won't expire.

• Did BMO buy the AIR MILES program in Canada?

  Yes, as of June 1, 2023, BMO bought the AIR MILES program in Canada after the program's US-based parent company, LoyaltyOne Co., filed for bankruptcy. That means you can keep using the BMO AIR MILES Mastercard or BMO AIR MILES World Elite Mastercard in Canada to rack up and redeem AIR MILES points for merchandise, gift cards and travel perks.

• Can I apply for the BMO AIR MILES MasterCard online?

  Yes, you can apply by visiting the BMO bank website, or you can simply click "Go to Site" in the table above to be redirected to the application.