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BMO AIR MILES World Elite Business Mastercard review

Get a high return on AIR MILES and enjoy an array of travel and healthcare benefits with this premium business card.

The BMO AIR MILES World Elite Business Mastercard lets you collect a high return on AIR MILES for every dollar you spend. You’ll Earn 1 Mile for every $12 you spend on everyday purchases, and 4x the Miles when you shop with AIR MILES partners. This card also comes with a welcome bonus, travel insurance, airport perks, access to virtual health care and a first-year annual fee waiver.

19.99%

Purchase Interest Rate

$0 annual fee for the first year ($149 thereafter)

Annual Fee

30-second take

  • Think about this card if you shop regularly with AIR MILES partners and want access to travel and healthcare benefits.
  • Choose something else if you don’t want to pay an annual fee or you would rather collect more flexible rewards.
  • There are no annual income requirements for this card, but you’ll have to prove that you own a business in Canada.

The basics

Collect AIR MILES and enjoy travel perks and healthcare benefits with the BMO AIR MILES World Elite Business Mastercard.

  • Decent return. Earn 1 Mile for every $12 you spend on everyday purchases, and 4x the Miles when you shop with AIR MILES partners.
  • Welcome bonus. Collect a welcome bonus of 3,000 AIR MILES when you spend $5,000 or more in your first 3 months.
  • Annual fee waiver. Get a first-year annual fee waiver and save $149 in your first 12 months of card ownership (credited in your second year).
  • Comprehensive travel insurance. Take advantage of trip interruption insurance, car rental insurance and baggage insurance.
  • Virtual health care. Enjoy access to a limited number of virtual healthcare appointments at any time through Maple health care.

What does access to Maple virtual health care include?

You can access a number of healthcare benefits when you sign up with Maple virtual health care as part of your BMO AIR MILES World Elite Business Mastercard.

  • Book in for 5 free virtual healthcare visits for every year that you’re a cardholder.
  • Lock in same-day appointments with doctors and mental health practitioners who are licensed in Canada.
  • Sign up quickly and easily as soon as you get your Maple health care registration email.

The perks

  • Airport lounge discounts. Pay US$32 to enter any of over 1,000 airport lounges worldwide with the Mastercard LoungeKey program.
  • Purchase insurance. Get 90-day purchase protection and extended warranty coverage on consumer goods you buy with your card.
  • Fraud protection. Cover yourself against employee card abuse with BMO’s Liability Waiver Program.
  • Merchant rebates. Get rebates from some of your favourite stores with the Mastercard Easy Savings Program.
  • Extra cards. Order up to 22 extra cards to rack up points faster (but expect to pay $50 per card).

How many rewards can I earn?

You’ll be able to earn 1 AIR MILE for every $12 you spend on everyday purchases as well as 4x the Miles when you shop with AIR MILES’ long list of partners (such as Sobeys, RONA, Staples and Amazon). You can also get a bonus 3,000 AIR MILES when you spend $5,000 in your first 3 months of card ownership.

How much do I have to spend to make the annual fee worth it?

Assuming that each AIR MILE you earn is worth about 10 cents – which seems to be the going rate – you’ll need to earn at least 1,490 AIR MILES per year to break even on your annual fee. If you earn 1 AIR MILE for every $12 you spend, you would need to spend $17,880 to break even.

The amount you need to spend will be smaller if you maximize the number of Miles you earn with AIR MILES partners. You’ll also get 3,000 AIR MILES right off the bat as a welcome bonus if you meet certain criteria.

What to watch out for

  • High annual fee. You’ll have to pay an annual fee of $149 each year to maintain this card, though you’ll get a fee waiver in your first year.
  • High interest. You’ll pay a high rate of 19.99% in interest on purchases and 22.99% on cash advances, though these match the interest rates of similar cards in the industry.
  • Conditional welcome bonus. You’ll only receive your welcome bonus after you spend $5,000 in your first 3 months.
  • Fee for additional cards. You’ll need to pay $50 per year for every extra card you add to your account.
  • No travel medical. You won’t get travel medical insurance as part of your travel benefits with this card.
  • Limited benefits for employees. The majority of card benefits are reserved for primary cardholders so additional cardholders will miss out on perks.

What should I know before I apply?

Eligibility requirements

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

  • Be a Canadian citizen or permanent resident who owns a business in Canada
  • Be the age of majority in your province (18 or 19 years old, based on where you live)
  • Meet documentation requirements for the type of business you own (sole proprietorship, corporation, partnership or unincorporated association)

Required documents and information

  • Your name, date of birth, contact information, occupation and proof of ID
  • Business name, address and type of work you do
  • Any additional information required for the type of business you want to register (with specific requirements outlined on BMO’s website)

How to apply for the BMO AIR MILES World Elite Business Mastercard

  1. Visit BMO’s website to sign up for the BMO AIR MILES World Elite Business Mastercard.
  2. Click the blue “Apply now” button and complete the application.
  3. Provide required personal information and input details about your business.
  4. Submit documentation based on the type of business you own.
  5. Review and submit your application.

I got the card, now what?

Once you’ve been approved for your BMO AIR MILES World Elite Business Mastercard, it’s time to start shopping. You can earn 1 AIR MILE for every $12 you spend or quadruple your Miles when you shop with AIR MILES partners. Earn even more Miles by giving cards to your employees or by cashing in on the card’s 3,000 AIR MILES welcome bonus.

How do I redeem my AIR MILES?

You can easily redeem your AIR MILES through your frequent flyer account. You can collect 2 types of Miles:

  • Cash Miles. You can use Cash Miles in-store and online to make everyday purchases at participating partners.
  • Dream Miles. You can use Dream Miles to purchase travel, merchandise and gift cards through the AIR MILES travel or merchandise catalogue.

You’ll need to select the type of Miles you want to collect in advance, and you can redeem them on the AIR MILES Rewards website.

Bottom line

The BMO AIR MILES World Elite Business Mastercard may be the right card for you if you collect AIR MILES and want to take advantage of health care and travel perks. This card lets you earn 1 AIR MILE for every $12 you spend, along with 4x the Miles with AIR MILES partners. It also comes with a welcome offer, a first-year fee waiver and purchase protection.

Frequently asked questions about the BMO AIR MILES World Elite Business Mastercard

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