BMO World Elite MasterCard Review
Earn more points on travel, dining and entertainment purchases and get a generous welcome bonus.
The BMO World Elite MasterCard offers 3 BMO points for every $1 spent on travel, dining and entertainment purchases and 2 points for every $1 spent on everything else.
Purchase Interest Rate
$0 annual fee for the first year ($150 thereafter)
Balance Transfer Rate
|Product Name||BMO World Elite MasterCard|
|Reward||Earn 3 BMO Rewards points per $1 spent on dining, travel and entertainment purchases.|
|Welcome Offer||Offers 35,000 BMO Rewards bonus points with minimum spend of $3,000 in the first three months of card membership. Ends January 15, 2020.|
|Purchase Interest Rate||19.99%|
|Cash Advance Rate||22.99%|
|Balance Transfer Rate||22.99%|
|Interest Free Period||Up to 21 days|
|Go to site|
- Think about this card if you want a decent return on travel points and comprehensive travel insurance.
- Choose something else if you’d rather have a low interest rate or don’t want to pay an annual fee.
- This card does not have minimum annual income requirements.
Whether you’re setting off on your next business trip or planning a 5-star resort stay, the BMO World Elite MasterCard could be a good fit for you.
- High return. Earn 2 points for every dollar you spend on everyday purchases and 3 points for special categories like entertainment, dining and travel.
- Welcome bonus. Get a welcome bonus worth 35,000 points – or around $250 in real dollar value.
- High points value. Spend $1,000 per month on special categories and earn up to 30,000 points (enough to fly from Vancouver to San Francisco or stay in a 4-star hotel).
- Purchase protection. Protect the items you buy on your card with extended warranty and insurance coverage.
- Travel insurance. Cash in on travel medical insurance and get access to trip interruption, trip cancellation, flight delay and baggage insurance.
- Cirque du Soleil Get 15% off admission to Cirque du Soleil shows touring Canada, and 20% off resident shows in Las Vegas.
- Car rental insurance. Get instant coverage on car rentals when you pay for them with your card.
- Airport lounge access. Receive four annual complimentary lounge passes for you and your family.
- Zero liability coverage. Rest easy knowing you’re protected against fraudulent charges on your account.
- Enhanced security. Use your Mastercard SecureCode to protect your purchases online.
- Optional benefits. Pay more for roadside assistance, balance protection or credit card alerts.
What to watch out for
- High annual fee. The fee for this card is over $150 per year, but you can have it waived in the first year.
- Conditional welcome offer. You’ll only get your bonus after you spend $3,000 on your card in your first 3 months.
- High interest. You’ll pay over 19.99% interest on outstanding balances and even more for cash advances (almost double what you would pay on a low-interest card).
- Fee for additional cards. There’s an added fee for additional cardholders.
- Difficult to qualify. The minimum income to get approved for this card is $80,000.
What should I know before I apply
How to apply
- Click Go to site to be directed to your BMO World Elite MasterCard application.
- Read through the Disclosure Statement details and click Accept & Continue.
- Complete the application with details that include your name, email address, social insurance number and birth date.
- Review and submit your application.
The BMO World Elite MasterCard is a good fit for frequent flyers who spend a decent amount on travel, dining and entertainment. This card comes with a welcome offer, comprehensive travel insurance and other perks like car rental insurance and airport lounge access.
Frequently asked questions about the BMO World Elite MasterCard