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BMO Air Miles Mastercard No Fee Rewards Review

BMO® AIR MILES®† MasterCard®* Review

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3.3

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Welcome Offer Ends Nov 30, 2024

Limited time offer: Get 1,500 AIR MILES Bonus Miles!* That’s enough for $150 towards purchases with AIR MILES Cash*

3x the Miles for every $25 spent at participating AIR MILES Partners

2x the Miles for every $25 spent at any eligible grocery store*

2x the Miles for every $25 spent at any eligible wholesale clubs, membership-based retailers and alcohol retailers

1 Mile for every $25 that you spend with your credit card everywhere else

20.99% Purchase APR

22.99% Balance Transfer Rate 0.99% introductory interest rate for 9 months (fee applies)*

22.99% Cash Advance APR 21.99% for Quebec residents

$0 Annual Fee $0 for supplementary card

Good Recommended Credit Score

$15,000 Required Annual Personal Income

3.3

BMO® AIR MILES®† MasterCard®* Review

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Quick overview of the BMO AIR MILES MasterCard

Looking for that elusive rewards credit card with a hefty sign-up bonus and no annual fee? We got you covered. Want that $0.00  annual fee credit card to come with awesome rewards opportunities? How about access to Canada’s largest loyalty program with over 10 million active members, and one of the country’s richest earn rates? 

Even if you have another “favourite” credit card in your wallet already, why not give one of Canada’s most popular credit cards and loyalty programs a try?

Who's the BMO AIR MILES MasterCard for?

The BMO® AIR MILES®† MasterCard®* is for the financially savvy traveler! With this credit card, you can double dip getting miles with your credit card AND your Air Miles collector card to earn miles doubly fast*. And you can get bonus miles with your card at retailers!

Pros and cons

Pros

Pros

  • No annual fee with a substantial welcome offer

  • Earn Air Miles with both credit and collector cards

  • Potential for upwards of an exceptional 2.04% travel earn rate

  • Additional Benefits include discounts, insurance, and a low balance transfer rate

Cons

Cons

  • A 2% fee applies to balance transfers.

  • Limited redemption options

  • Variable redemption values may vary based on last-minute short-haul flights

  • Its specific rewards program is best for those interested in Air Miles loyalty program

BMO AIR MILES MasterCard welcome bonus

The card comes with a lucrative welcome bonus: Limited time offer: Get 1,500 AIR MILES Bonus Miles!* That’s enough for $150 towards purchases with AIR MILES Cash*

How to earn AIR MILES with the BMO AIR MILES MasterCard

  • Earn accelerated miles: Get 3.00x the Miles for every $25 spent at participating AIR MILES Partners and 2.00x the Miles for every $25 spent at any eligible grocery store*.
  • Earn double rewards: Use your BMO® AIR MILES®† MasterCard®* and AIR MILES Collector Card at an AIR MILES sponsor to earn reward miles from both.
  • Earn on everything: Earn 1.00 Air Miles rewards for every $25 spent on the credit card.

How to redeem AIR MILES with the BMO AIR MILES MasterCard

Ready to turn your Air Miles into jet-setting adventures? Score flights to your ultimate getaway using your stash of Air Miles. The amount of Air Miles needed will depend on the destination you're flying to. You can also convert Air Miles to Cash Miles. Let's do the math: 95 Air Miles = $10, which can be used towards your purchases at participating AIR MILES partner locations. Learn more about redeeming AIR MILES.

BMO AIR MILES MasterCard key benefits

Here are some of the additional perks that help this card stand-out from the pack:

  • Bonus Air Miles welcome bonus: Limited time offer: Get 1,500 AIR MILES Bonus Miles!* That’s enough for $150 towards purchases with AIR MILES Cash*
  • $0.00 annual fee: There is no annual fee on this card – ever
  • Free additional cards: With a $0.00 annual fee, you can get as many authorized users on your card as you’d like to help you accumulate Air Miles even faster!
  • Discounts: Car rental discounts*
  • Insurance: Double manufacturer’s warranty up to 1 year and automatically insure items against theft or damage for 90 days from date of purchase with your card*
  • Low rate on balance transfers: Low 0.99% introductory interest rate on Balance Transfers for 9 months, 2% fee applies to balance amounts transferred.

BMO AIR MILES MasterCard insurance coverage

Here are the insurance benefits you get with this card:

  • Purchase protection: You are insured for eligible items charged to your BMO® AIR MILES®† MasterCard®* for 90 days from the date of purchase in the event of accidental physical damage or theft.
  • Extended warranty: Any product you purchase through your BMO credit card will automatically get an additional 1 year of warranty.

What people have to say about this card

...airmiles are pretty handy if you already shop at places where you can redeem them for cash

/u/beekeeper1981

As this Reddit user points out, if you shop frequently at AIR MILES partners, you can use your AIR MILES as Cash Miles to pay for your purchases, but we recommend using AIR MILES for travel redemption to get the best value.

How the BMO AIR MILES MasterCard compares

CIBC Aeroplan® Visa* Card

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4.3

up to 10K pts

Welcome offer

Fair

Suggested credit score

Earn up to 10,000 Aeroplan points (up to $200 in value). This offer is not available for residents of Quebec.

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Pros

  • Earn one Aeroplan point per dollar spent on gas, electric vehicle charging, groceries, and with Air Canada directly, including Air Canada Vacations

  • Earn twice the points at over 150 Aeroplan partners and over 170 online retailers through the Aeroplan eStore

  • No annual fee

Cons

  • You only earn one point for every $1.50 spent on everything else

  • No travel insurance

  • No lounge access

Eligibility

Recommended Credit Score

Fair

Required Annual Household Income

$15,000

Pros

  • Earn one Aeroplan point per dollar spent on gas, electric vehicle charging, groceries, and with Air Canada directly, including Air Canada Vacations

  • Earn twice the points at over 150 Aeroplan partners and over 170 online retailers through the Aeroplan eStore

  • No annual fee

Cons

  • You only earn one point for every $1.50 spent on everything else

  • No travel insurance

  • No lounge access

Eligibility

Recommended Credit Score

Fair

Required Annual Household Income

$15,000

for every $1 you spend on eligible gas, electric vehicle charging, groceries and with Air Canada directly, including through Air Canada Vacations®

1 point

for every $1.50 you spend on all other purchases.

1 point

Earn points twice at over 150 Aeroplan partners and over 170 online retailers through the Aeroplan eStore.

2x

Purchase APR

20.99%

Balance Transfer Rate

22.99%

Cash Advance APR

22.99%

Annual Fee

$0

Foreign Transaction Fee

2.50%

BMO AIR MILES MasterCard vs. CIBC Aeroplan Visa Card

Both the BMO® AIR MILES®† MasterCard®* and the CIBC Aeroplan Visa card are $0.00 annual fee travel credit cards. With the CIBC Aeroplan Visa Card, you can earn 1.00x Aeroplan point per dollar spent on gas, electric vehicle charging, groceries and Air Canada purchases. Additionally, shopping at Aeroplan partners allows you to earn double points on your spending.

For those who prefer flying with Air Canada, the CIBC Aeroplan card is a good option. Best of all, you enjoy flexible rewards redemption, as you can redeem your points for flights, vacations, hotel stays, car rentals and gift cards. This card also includes common carrier accident insurance, auto rental collision/loss damage, purchase security, and extended protection, giving it a slight edge over the BMO AIR MILES MasterCard.

Scotiabank American Express

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3.9

up to 5K pts

Welcome offer

Good

Suggested credit score

Earn up to 5,000 bonus Scene+ points within your first 3 months (that’s up to $50 towards travel).¹

Expires

Nov 1, 2024

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Pros

  • Earn 5,000 welcome bonus rewards points.

  • Earn up to three Scene+ points on everyday spending.

  • Earn points across five different categories, including food, travel, entertainment and streaming.

  • No annual fee.

Cons

  • The welcome bonus is lower compared to other rewards cards.

  • American Express isn’t accepted everywhere.

  • Limited insurance coverage.

Eligibility

Recommended Credit Score

Good

Pros

  • Earn 5,000 welcome bonus rewards points.

  • Earn up to three Scene+ points on everyday spending.

  • Earn points across five different categories, including food, travel, entertainment and streaming.

  • No annual fee.

Cons

  • The welcome bonus is lower compared to other rewards cards.

  • American Express isn’t accepted everywhere.

  • Limited insurance coverage.

Eligibility

Recommended Credit Score

Good

Scene+ points¹ on every $1 you spend at Sobeys, Safeway, Freshcoand more

3x

Scene+ points¹ for every $1 you spend on restaurants, fast food, drinking establishments and other eligible grocery stores. Includes popular food delivery and food subscriptions.

2x

Scene+ points¹ for every $1 you spend on eligible entertainment purchases. Includes movies, theatre and ticket agencies stores.

2x

Scene+ points¹ for every $1 you spend on eligible gas and daily transit. Includes ride shares, buses, subway, taxis and more

2x

Scene+ points¹ for every $1 you spend on eligible select streaming services

2x

Scene+ point for every $1 spent on all other eligible everyday purchases

1x

Purchase APR

19.99%

Balance Transfer Rate

22.99%

Cash Advance APR

22.99%

Annual Fee

$0

Foreign Transaction Fee

2.50%

BMO AIR MILES MasterCard vs. Scotiabank American Express

If you want a no fee rewards credit card that offers a more flexible rewards program, you can look at the Scotiabank American Express credit card. This credit card allows you to earn 3.00x Scene+ points on every $1 you spend at Sobeys, Safeway, FreshCo, and Foodland, 2.00x Scene+ points for every $1 you spend on restaurants, fast food, groceries, drinking establishments, movie and theatre tickets. Plus, you can earnEarn 2 Scene+ points1 for every $1 you spend on eligible gas and daily transit. Includes rideshare, buses, taxis, subway, and more.x Scene+ points for every $1 you spend on eligible gas and daily transit and select streaming services. You can redeem your Scene+ points to for statement credit, gift cards, travel credit and much more. You can also use the Scotia Travel portal to book your flights and stays and take advantage of ongoing travel discounts. 

Conditions Apply. Visit here for the Scotiabank American Express® Card to learn more.*See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.

BMO AIR MILES MasterCard vs. BMO CashBack MasterCard

Card BMO AIR MILES MasterCard BMO CashBack MasterCard
Annual fee $0.00 $0.00
Welcome offer Limited time offer: Get 1,500 AIR MILES Bonus Miles!* That’s enough for $150 towards purchases with AIR MILES Cash* Get 5% cash back in your first 3 months*
Insurance Purchase protection, Extended warranty Purchase protection, Extended warranty
Benefits Earn 3x the Miles for every $25 spent at participating AIR MILES Partners; Get 2x the Miles at any eligible grocery store*; Earn 2x the Miles for every $25 spent at any eligible wholesale clubs, membership-based retailers and alcohol retailers; Earn 1x the Mile for every $25 that you spend with your credit card everywhere else 3% (up to a monthly max of $500) cash back on groceries; Earn 1% (up to $500 per month) on any recurring bill payments*.; Cardholders can earn 0.5% (no monthly max) on all other eligible purchases*

Read review You're reading it! BMO CashBack MasterCard review
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 If you're looking for a no annual fee BMO credit card, another great option is the BMO CashBack MasterCard. This card's great welcome offer allows you to maximize your cash back, which you can easily deposit directly into a chequing or savings account, credit to your monthly card statement, or invest via the BMO Investorline account. Cash back is more versatile than AIR MILES, giving you more freedom when it comes to deciding what to do with your rewards.

Is it worth it?

If you collect AIR MILES and want to double them so you can redeem them for free flights faster, the BMO® AIR MILES®† MasterCard®* is a great no-fee credit card that can help you achieve exactly that.

However, when doing our research, we found an unexpected revelation. With Air Miles rewards, you can hack your way to one of the highest travel earn rates of any rewards credit card in Canada, let alone a no annual fee card. The trick is to redeem for short-haul flights at the last minute. Doing so will earn you upwards of 2.04% in value from your BMO® AIR MILES®† MasterCard®* – that’s $2.04 per $100 spent!

For example, in our research at the time this was looked at a flight from Toronto to Boston booked two days before departure cost $664 (excluding taxes & fees), which we were able to book for 1,300 Air Miles – worth 51 cents a mile ($664/1300)! Divide 51 cents by $25 (1 air miles per $25 spent on the credit card) and you get $2.04 in rewards for every $100 spent on your BMO® AIR MILES®† MasterCard®* – unparalleled redemption value.

Compare the earn rate of 2.04% of the BMO® AIR MILES®† MasterCard®* to the 2% earn rate offered by many of Canada’s top premium travel cards that come with a $150 annual fee and the value is obvious.

BMO AIR MILES MasterCard eligibility

To qualify for the BMO® AIR MILES®† MasterCard®* you need the following:

  • A Good credit score
  • $15000.00or more of annual personal income

*Terms and conditions apply

BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.

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