BMO Air Miles World Elite Mastercard (Feb 2023)

December 19, 2022
Reviews

The BMO Air Miles World Elite Mastercard is a great personal credit card available in Canada which provides air miles rewards on your credit card purchases. It comes with a generous welcome bonus of 2000 Air Miles after you spend $3,000 within the first three months, and 3x the miles on qualifying purchases.

The BMO Air Miles World Elite Mastercard has an annual of $120 – waived the first year – and offers comprehensive travel insurance and purchase coverage. If you're a frequent traveler looking to start saving up Air Miles, this is one of the most affordable options in Canada.

What Is The BMO Air Miles World Elite Mastercard? 

The BMO Air Miles World Elite Mastercard is a no-fee air miles rewards credit card that provides cardholders with air miles rewards on regular purchases. With the introduction of the 2x the miles accelerated earn rate in 2018, the BMO Air Miles World Elite Mastercard has become one of Canada's most popular no-fee air miles credit card options. 

BMO Air Miles World Elite Mastercard Pros & Cons

Pros

  • Welcome bonus offer of up to 2000 Air Miles 
  • Air miles rewards of 3x Miles for every $12 spent on purchases at participating partners
  • 25% discount applicable on one worldwide AIR MILES reward flight redemption per year
    • Rental Car Collision/Loss Damage insurance for a rental period of 48 days or less and vehicles up to $65,000 in value
    • Travel insurance coverage, including 15 days out of province emergency medical protection of up to $2MM
  • You can get additional air miles rewards for including additional cardholders in your account.

Cons

  • High annual fee of $120
  • High minimum income requirements of $80,000 for personal income or $150,000 for household income

BMO Air Miles World Elite Mastercard Features

  • Welcome Bonus: Up to 2,000 Air Miles and a $120 annual fee waived in 1st year
  • Annual fee: $120 annual fee 
  • Interest rate: 20.99% on purchases & 23.99% for cash advances
  • Air Miles Rewards per $12 spent
    • 3x Miles for every $12 spent at participating Air Miles Partners
    • 2x Miles for every $12 spent at any eligible grocery store
    • 1 Mile for every $12 spent anywhere else
  • 25% off on worldwide Air Miles rewards flight redemption per year
  • Travel insurance coverage: including out-of-province emergency medical Insurance, flight & baggage insurance, hotel & motel burglary, and common carrier accident insurance
  • 24-hour access to an experienced concierge staff
  •  Purchase protection for 1st 90 days and extended coverage on the original manufacturer's warranty by up to one additional year
  • MasterCard Rewards: Access to full Mastercard Rewards, including Mastercard travel rewards, access to Boingo Wi-Fi, and a Mastercard Travel pass
  • Discount on car rentals: up to 25% discount on rentals at participating National Car Rental and Alamo Rent-a-Car locations
  • Rental Car Collision/Loss Damage: For a rental period of 48 days or less and vehicles up to $65,000 in value.
  • Valuable benefits and offers from several subscription services, e.g., Apple Music

BMO Air Miles World Elite Mastercar Eligibility Requirement

To be eligible for the card, you:

  • Must be a permanent Canadian resident
  • 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 annual personal income of $80,000 or household income of $150,000

How Does The BMO Air Miles World Elite Mastercard Work?

The BMO Air Miles World Elite Mastercard earns you rewards on all your purchases, and you can redeem these rewards for a wide range of over 1000 products and services. The rewards earned are based on the amount spent on the card.

BMO Air Miles World Elite Mastercard Earn Rate

BMO Air Miles World Elite Mastercard offers three different earn rates to cardholders depending on where they purchase from. 

Earn $347 From Our First Email

  • 3x Miles for every $12 spent at participating Air Miles Partners
  • 2x Miles for every $12 spent at any eligible grocery store
  • 1 Mile for every $12 spent anywhere else

The card also offers 25% off one worldwide Air Miles rewards flight redemption annually.

Who Are The Participating Partners For BMO Air Miles World Elite Mastercard?

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

What Can You Redeem Your BMO Air Miles World Elite Mastercard Rewards For?

You can redeem your air miles rewards 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.

Here is an example of how many air miles rewards you can earn for different purchase amounts: 

Purchase amountEquivalent air miles*Possible redemption options
1,0003,368Sports Memorabilia (2,500 Miles)Trip from Halifax to Fort Lauderdale (3,100 Miles)Air miles cash = $354.53
20094,784Sports Memorabilia (2,500 Miles)Trip from Vancouver to New York (4,700 Miles)Air miles cash = $503.58
30076,200Trip from Vancouver to New York (4,700 Miles)Air miles cash = $652.63
40057,580TV & Home Theatre (6,310 Miles)Trip from Whitehorse to New York (7,500 Miles)Air miles cash = $797.89
5,0008,984BBQ Grills (8,350 Miles)Trip from Yellowknife to Orlando (8,600 Miles)Air miles cash = $945.68

*Note that the bonus miles were calculated based on the following assumptions.

  • Purchases are made in the first year. Therefore, air miles rewards include 800 air miles bonus points.
  • 20% of purchases are made at participating partners

BMO Air Miles World Elite Mastercard Travel Perks

  • Travel insurance coverage: Coverage provided is for an unlimited number of trips per year. The travel insurance available includes out-of-province emergency medical Insurance for up to 15 days (worth up to $2 million in medical expenses); flight & baggage insurance; hotel & motel burglary, and common carrier accident insurance.
  • 24-hour access to an experienced concierge staff
  • MasterCard Rewards: Access to full Mastercard Rewards, including Mastercard travel rewards, access to Boingo Wi-Fi, and a Mastercard Travel pass
  • Airport Lounge Access: BMO Air Miles World Elite 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.
  • Discount on car rentals: up to 25% discount on rentals at participating National Car Rental and Alamo Rent-a-Car locations
  • Receive 25% off one worldwide Air Miles rewards flight redemption per year
  • Rental Car Collision/Loss Damage for a rental period of 48 days or less and vehicles up to $65,000 in value.

BMO Air Miles World Elite Mastercard Purchase Protection

  • Purchase protection: Ensures 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.
  • Zero Liability Protection for lost or stolen cards

BMO Air Miles World Elite Mastercard Add-Ons

In addition to the included benefits (benefits at no extra cost) on the card, the BMO Air Miles World Elite Mastercard also offers some add-on options (for a fee). These include:

  • BMO Roadside Assistance: Access to roadside services and emergencies ranging from towing and jump-starts to lockout assistance. The applicable fee for Basic coverage ($69 per year) and Advanced coverage ($98 per year)
  • BMO Credit Card Balance Protection Enhanced: This benefit helps you protect the balance on your BMO Air Miles World Elite Mastercard in life events such as death, total disability, and job loss. The applicable fee is $1.00 for each $100 of your statement balance (plus taxes).

Summary

With a generous welcome bonus of up to 2000 bonus miles and an introductory annual fee waiver for the first year, the BMO Air Miles World Elite Mastercard is one of Canada's best cards for accumulating air miles rewards. The card also offers several great travel perks and insurance coverage for those who like traveling. 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 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 Mastercard suitable for?

The BMO Air Miles World Elite Mastercard is great for accumulating air miles rewards and for its travel insurance coverage and perks.

How do I maximize my BMO Air Miles World Elite Mastercard?

You can maximize your BMO Air Miles World Elite 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 miles I can accumulate with the BMO Air Miles World Elite Mastercard?

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

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

To qualify for a BMO Air Miles World Elite Mastercard, you need to meet the eligibility requirements below:

  • Must be a permanent Canadian resident
  • 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 annual personal income of $80,000 or household income of $150,000

Is the BMO Air Miles World Elite Mastercard worth it?

The BMO Air Miles World Elite Mastercard is worth it if you are big on travel due to its excellent travel insurance 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 how many BMO Air Miles World Elite Mastercard rewards I have?

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 Mastercard rewards?

BMO Air Miles World Elite 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 Mastercard rewards expire?

No, the BMO Air Miles World Elite 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