BMO AIR MILES World Elite MasterCard Review

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Earn AIR MILES on everyday purchases and get to your next destination faster and cheaper.

The BMO AIR MILES World Elite MasterCard offers 1 Mile for every $10 you spend on everyday purchases. It also comes with a very generous welcome bonus and a good mix of travel benefits.

19.99%

Purchase Interest Rate

$0 annual fee for the first year ($120 thereafter)

Annual Fee

22.99%

Balance Transfer Rate

Details

Product NameBMO AIR MILES World Elite MasterCard
RewardEarn 1 mile per $10 spend in purchases.
Welcome OfferGet up to 3,000 AIR MILES Bonus Miles with minimum spend of $3,000 in the first three months, plus a first year annual fee waiver. Ends January 15, 2020.
Purchase Interest Rate19.99%
Cash Advance Rate22.99%
Balance Transfer Rate22.99%
Interest Free Period Up to 21 days
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More Info

30-second take

  • Think about this card if you collect AIR MILES and want comprehensive insurance.
  • Choose something else if you’d rather have a low interest rate or don’t want to pay an annual fee.
  • Your minimum annual income needs to be $80,000, or you should have a household income of $150,000.

The basics

Dreaming of your next big vacation? If you’re a frequent flyer and a loyal AIR MILES member, then the BMO AIR MILES World Elite MasterCard could be just the ticket.

  • Decent return. Earn 1 mile for every $10 you spend on everyday purchases (or 100 miles for every $1,000 you spend).
  • Flexible redemption. Cash your miles in for travel, merchandise or cashback rewards.
  • Earn 2x the rewards. Earn miles twice at AIR MILES partners when you show your membership card.
  • Welcome bonus. Get a welcome bonus equivalent to two short-haul flights across Canada or the US.
  • Purchase protection. Protect the items you buy on your card with extended warranty and insurance coverage.
  • Travel insurance. Get travel and medical protection with 15 days of emergency medical protection and other travel benefits (like trip cancellation/interruption).

The perks

  • Airport lounge access. Take advantage of limited complimentary lounge passes with Mastercard Airport Experiences provided by LoungeKey.
  • Flight discounts. Save 15% on flights booked with AIR MILES in North America, with no blackout periods.
  • Fraud proof. You won’t have to pay if there are fraudulent charges on your account with zero-liability coverage and extra online security.
  • Optional benefits. Pay an additional fee to get roadside assistance, balance protection or credit card alerts added on.

What to watch out for

  • High annual fee. The fee for this card is over $120 per year, but it can be waived in the first year.
  • Conditional welcome bonus. You’ll only receive 3,000 of your miles after you spend $3,000 in your first 3 months.
  • High interest. Interest rates are about 8-12% higher than the rates you might find on a low-interest card.
  • Fee for additional cards. There’s an added fee for extra cards.
  • Income requirements. The minimum income to qualify for this card is $80,000.

What should I know before I apply

How to apply

  1. Click “Go to site” on this page to be directed to the BMO AIR MILES World Elite 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

The BMO AIR MILES World Elite MasterCard is designed for AIR MILES members who want to collect more miles on purchases. This card comes with a welcome offer, travel medical insurance and other perks like airport lounge access and flight discounts.

Frequently asked questions about the BMO AIR MILES World Elite MasterCard

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