BMO Air Miles World Elite Business Mastercard (Feb 2023)

December 12, 2022
Reviews

The BMO Air Miles World Elite Business Mastercard is a business travel credit card with an annual fee of $149, issued by BMO, one of the largest credit card networks in Canada. This credit card has an excellent air miles rewards earn rate; you can earn 4 miles per $12 spent at participating partner stores and 1 mile per $12 spent on all other purchases.

The BMO Air Miles World Elite Business Mastercard also offers a generous welcome bonus of 3,000 air miles when you spend at least $5,000 in the first three months after applying for your card, plus comprehensive travel insurance coverage. The first-year fee is waived for new cardholders who sign up using our link.

What Is The BMO Air Miles World Elite Business Mastercard? 

The BMO Air Miles World Elite Business Mastercard is a BMO business credit card option known for its great air miles rewards earn rate. It offers Canadian business owners the opportunity to make the most of their business expenditures by rewarding cardholders with 4 miles for every $12 spent at participating partners and 1 mile for every $12 spent everywhere else.

In addition to its high earning rate, the card also offers a generous welcome bonus of 3,000 air miles when you make purchases worth $5,000 in the first three months. It also offers a waiver on the annual fee of $149 within the first year.

Other benefits of the card include excellent travel insurance coverage and access to virtual healthcare services.

Pros & Cons

Pros 

  • Welcome bonus offer of up to 3,000 bonus miles when you spend $5,000 in the first three months
  • Waiver of $149 annual fee in the first year
  • Air miles rewards of 4x Miles for every $12 spent on purchases at participating partners
  • Excellent travel insurance coverage and perks, including rental car collision/loss damage insurance for a rental period of 48 days or less and vehicles up to $65,000 in value
  • Allows you to add up to 22 additional cardholders to your account.

Cons

  • High annual fee of $149
  • High minimum income, revenue, or assets under management requirements of $80,000,$250,000, and $400,000, respectively.
  • No out-of-province emergency medical insurance

Features and Benefits

Earn $347 From Our First Email

  • Welcome bonus: Up to 3,000 Air Miles and a $149 annual fee waived in 1st year
  • Annual fee: $149 annual fee 
  • Interest rate: 19.99% on purchases & 22.99% for cash advances
  • Air Miles Rewards per $12 spent
    • 4x Miles for every $12 spent at participating Air Miles Partners
    • 1 Mile for every $12 spent anywhere else

Miles can be redeemed for office supplies, travel, events, or air miles cash.

  • Add up to 22 additional cards to your account for employees to make purchases on behalf of the business.
  • Airport Lounge Access: BMO Air Miles World Elite Business Mastercard provides complimentary membership through the Mastercard Travel Pass by DragonPass. You can enjoy lounge access for US$32 per person per visit as a member.
  •  Purchase protection for 1st 90 days and extended coverage on the original manufacturer's warranty by up to one additional year
  • Automatic rebates of up to 25% when you shop at qualifying sellers with Mastercard Easy Savings
  • Access to on-demand virtual healthcare visits with Canadian licensed general practitioners via Maple
  • Travel coverage & Perks
    • Car rental collision/loss damage Waiver:  Limited to a rental period of 48 days or less and vehicles up to $65,000 in value. 
    • Car rental personal effects & business property protection: provides coverage for theft or damage to personal effects or business property. 
    • Car rental accidental death & dismemberment protection: provides coverage to an insured person for accidental bodily injury or death while in a rental car.
    • Baggage & personal effects: includes coverage for baggage and personal effects against loss, theft, or damage
    • Baggage delay allowance for the purchase of essential items during checked baggage delays
  • Trip cancellation: provides reimbursement for non-refundable or non-transferable trip payments
  • Trip interruption/trip delay: provides reimbursement to cover a one-way economy airfare in case of interruption or delay to your trip
  • Flight delay reimbursement for accommodation and travel during flight details
  •  Common carrier insurance: provides coverage for accidental bodily injury or death while traveling

Eligibility requirements

To be eligible for a BMO Air Miles World Elite Business Mastercard, you must: 

  • Be an owner of a for-profit business that operates in Canada.
  • Not have declared bankruptcy in the last seven years.
  • Have attained the majority age in your province or Territory
  • Meet one of the below requirements:
    • Have a minimum personal income of $80,000
    • Have a minimum household income of $150,000
    • Have a minimum business revenue of $250,000
    • Have a minimum Assets Under Management (AUM) of $400,000

Application requirements:

Requirements vary by business type. However, here is a list of general requirements:

  • Identification documents, e.g., Personal identification, name, address, occupation, or nature of primary business
  • Business registration documents, e.g., Trade Name Registration, complete Articles of Incorporation.

How Does the BMO Air Miles World Elite Business Mastercard Work?

The BMO Air Miles World Elite Business Mastercard allows you to earn rewards on all your purchases and redeem these rewards for over 1000 products and services. The rewards earned are based on the amount spent on the card.

What is the BMO Air Miles World Elite Business Mastercard Earn Rate?

BMO Air Miles World Elite Business Mastercard offers two different earn rates to cardholders depending on where they make purchases from:

  • 4x Miles for every $12 spent at participating Air Miles Partners
  • 1 Mile for every $12 spent anywhere else

Who are the Participating Partners for BMO Air Miles World Elite Business Mastercard?

The participating partners of the BMO Air Miles World Elite Business Mastercard include Shell, Budget, National car rental, and Global pet foods.

What Can you Redeem your BMO Air Miles World Elite Business Mastercard Rewards for?

 Air Miles Rewards can be redeemed for over 1,000 products and services, which fall into three different categories:

  • Cash Rewards: You can redeem your Miles online or in-store on everyday purchases at participating Cash Reward Partners
  • Travel Rewards: You can redeem your Miles by booking flights, hotels, vacation packages, and car rentals.
  • Dream Rewards: You can redeem your air miles for special recreational moments such as spa passes and movie tickets.

Travel Perks & Coverage on the BMO Air Miles World Elite Business Mastercard

  • Travel coverage & Perks
    • Car rental collision/loss damage waiver:  Limited to a rental period of 48 days or less and vehicles up to $65,000 in value.
    • Car rental personal effects & business property protection: provides coverage for theft or damage to personal effects or business property. Coverage provided is up to $1,000 per insured person for the car rental period.
    • Car rental accidental death & dismemberment protection: provides coverage to an insured person for accidental bodily injury or death while in a rental car.
    • Baggage & personal effects: provides coverage for baggage and personal effects against loss, theft, or damage for up to $1,000 per insured person
    • Baggage delay allowance of up to $500 for the purchase of essential items during checked baggage delays for 6 hours or more
    • Trip cancellation: provides reimbursement of up to $2,500 per insured person and up to $5,000 per account for non-refundable or non-transferable trip payments
    • Trip interruption/trip delay: provides reimbursement to cover a one-way economy airfare in case of interruption or delay to your trip. Up to $2,000 per insured person 
    •  Flight delay allowance: reimbursement of up to $500 per account for accommodation and travel where flight delay is for more than 4 hours
    •  Common carrier insurance: provides coverage of up to $500,000for accidental bodily injury or death while traveling 
    • Trip assistance support: provides help with emergency cash, lost documentation or tickets, lost luggage, and pre-trip planning information. To access trip assistance support, call 1-877-704-0341 or call collect at 1-519-741-0782.

BMO Air Miles World Elite Business Mastercard Purchase Coverage

  • Purchase protection: Protects items purchased with your card against theft and damage for up to 90 days from the purchase date.
  • Extended coverage on the original manufacturer's warranty: increases the original manufacturer's warranty period by up to one additional year.
  • Protects against employee card abuse with the Liability Waiver Program

BMO Air Miles World Elite Business Mastercard Healthcare Benefits

24/7 access to on-demand virtual healthcare and a connect line with Canadian licensed general practitioners via Maple. Benefits include:

  • Five free virtual care visits on Maple available to the primary cardholder and family members
  •  Round-the-clock access to virtual care
  • Support from Canadian-licensed mental health counselors and general practitioners
  • On-demand connection to a mental health counselor within 12 hours or through a booked visit

Summary

With a generous welcome bonus of up to 3000 bonus miles and an introductory annual fee waiver for the first year, the BMO Air Miles World Elite Business Mastercard is one of the best business cards for earning air miles rewards in Canada. The card offers excellent travel insurance coverage and virtual healthcare services. Cardholders are also allowed to add up to 22 employees to an account.

 The best way to optimize the card is to make purchases as much as possible from participating partners so you can accumulate the most miles per dollar spent.

BMO Air Miles World Elite Business Mastercard FAQs

What Is an Air Miles Rewards Credit Card?

An Air Miles rewards credit card is a credit card that earns you air miles every time you make an eligible purchase. These air miles can be redeemed for various products and services. However, redeeming them for flights often yields the best redemption value.

What is the BMO Air Miles World Elite Business Mastercard Suitable for?

The BMO Air Miles World Elite Business Mastercard is remarkable for its air miles earning rate, travel insurance coverage, and perks. 

How do I Maximize my BMO Air Miles World Elite Business Mastercard?

You can maximize your BMO Air Miles World Elite Business Mastercard by making most of your purchases at participating partners to earn as many air miles rewards as possible.

Is there a limit to the Air Miles I can accumulate with the BMO Air Miles World Elite Business Mastercard?

No, there is no limit to how many air miles you can get with the BMO Air Miles World Elite Business Mastercard.

How do I qualify for the BMO Air Miles World Elite Business Mastercard?

To qualify for a BMO Air Miles World Elite Business Mastercard, you:

  • Must be the owner of a for-profit business that operates in Canada
  • Must not have declared bankruptcy in the prior seven years
  • Must have attained the majority age in the Canadian province of residence
  • Must earn a minimum income, revenue, or asset under Management requirement

Is the BMO Air Miles World Elite Business Mastercard worth it?

The BMO Air Miles World Elite Business Mastercard is worth it if you are big on earning air miles and traveling, given its travel coverage and perks. 

Which credit bureau does BMO check?

BMO checks credit reports from either Equifax or TransUnion credit bureaus

Can I have several BMO credit cards at the same time?

Yes, having more than one BMO credit card at a time is possible.

How do I know w many air miles rewards I have on the BMO Air Miles World Elite Business Mastercard?

You can check your air miles rewards summary on your monthly card statement. However, this rewards summary would not include air miles from bonuses or promotional offers.

You can also see your rewards when you sign in to your account online or through your Mobile banking application.

How do I redeem my BMO Air Miles World Elite Business Mastercard Rewards?

BMO Air Miles World Elite Business Mastercard air miles rewards can be redeemed for over 1000 products and services, from gift cards to electronic gadgets to kitchen accessories. To redeem your Air Miles rewards, visit airmiles.ca or call 1-888-AIR-MILES.

Do my BMO Air Miles World Elite Business Mastercard rewards expire?

No, the BMO Air Miles World Elite Business Mastercard air miles do not expire as long as your credit card account remains open with the bank and is in good standing.

Earn $347 From Our First Email