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BMO Air Miles Mastercard No Fee Rewards Review

BMO® AIR MILES®† MasterCard®* Review

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4.2

Welcome Offer

Get 800 AIR MILES Bonus Miles!* That’s enough for $80 towards purchases with AIR MILES Cash*

3 miles Get 3 Miles for every $25 spent with AIR MILES Partners.

2 miles Get 2x the Miles for every $25 at grocery stores and supermarkets.

4 miles Double up your Shell Go+ Miles on eligible fuel and in-store purchases.

$0 Annual Fee

20.99% Purchase APR

22.99% Cash Advance APR 21.99% for Quebec residents

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

2.00% Balance Transfer Fee

Good Recommended Credit Score

$15,000 Required Annual Personal Income

4.2

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 no 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? 

The BMO® AIR MILES®† MasterCard®* remains one of Canada’s most popular no fee loyalty credit cards, with its superb sign-up offer of 800 Air Miles* – and absolutely no annual fee. Not now, not ever.

The 800 welcome bonus miles* (when you spend $1,000 within the first three months) for the BMO® AIR MILES®† MasterCard®* is worth about $80 if you redeem for travel*. You can even use MasterCard to accumulate rewards in Costco!

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!

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.

So the BMO® AIR MILES®† MasterCard®* is not only offering a great 800 Air Miles* sign-up bonus, it also offers one of the best reward earn rates per dollar spent. By the way, if travel isn’t your thing, feel free to use Air Miles Cash Rewards to redeem at the till with so many of Air Miles’ retail partners like Sobeys and Metro. Plus you can consolidate debt onto the card with a low 0.99% interest rate on balance transfers for the first nine months after you sign up (2% balance transfer fee applies)*.

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

With the sign-up bonus now at 800 Air Miles* with no annual fee, this card offers superb value. With no annual fee, there’s absolutely no risk putting another card in your wallet, and you’re getting $80* of house money to play with. Free is always worth it.

How to earn AIR MILES with the BMO AIR MILES MasterCard

  • Earn accelerated miles: Get 3x the Miles for every $25 spent at participating AIR MILES Partners and 2x 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 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. 95 Cash 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:

  • 800 Bonus Air Miles welcome bonus: 800 AIR MILES Welcome Bonus Miles when you spend $1,000 within the first three months*
  • No annual fee: There is no annual fee on this card – ever
  • Free additional cards: With a $0 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 a 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% interest rate on balance transfers in the first 9 months (2% applies to balance amount 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 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

BMO AIR MILES MasterCard vs. CIBC Aeroplan Visa Card

Both the BMO® AIR MILES®† MasterCard®* and the CIBC Aeroplan Visa card are no-annual-fee travel credit cards. With the CIBC Aeroplan Visa Card, you can earn 1x 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.

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 3x Scene+ points on every $1 you spend at Sobeys, Safeway, FreshCo, and Foodland, 2x Scene+ points for every $1 you spend on restaurants, fast food, groceries, drinking establishments, movie and theatre tickets. Plus, you can earn 2x 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. 

BMO AIR MILES MasterCard vs. BMO CashBack MasterCard

Card BMO AIR MILES MasterCard BMO CashBack MasterCard
Annual fee $0 $0
Welcome offer Get 800 AIR MILES Bonus Miles!* That’s enough for $80 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 Get 3x the Miles for every $25 spent at participating AIR MILES Partners and 2x the Miles for every $25 spent at any eligible grocery store and double the rewards when you use both your BMO AIR MILES MasterCard and AIR MILES Collector Card

Earn 1 AIR MILES for every $25 spent on everything else 		Earn 3% (up to a monthly max of $500) cash back on groceries, 1% (up to $500 per month) on any recurring bill payments* and 0.5% (no monthly max) on all other eligible purchases


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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.

BMO AIR MILES MasterCard eligibility

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

  • A good credit score
  • $15,000 or 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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