BMO World Elite MasterCard Review
Earn more points on travel, dining and entertainment purchases and get a generous welcome bonus.
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 31 October 2019.|
|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|
The BMO World Elite MasterCard offers three BMO points for every dollar spent on travel, dining and entertainment purchases and two points for every dollar spent on everything else. It also comes with a welcome offer and a good mix of travel benefits.
- 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.
- 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