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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?

BMO® AIR MILES®† MasterCard®* travel hacking secret

Long gone are the days when Air Miles were only good for toasters and blenders. Air Miles can now be used for instant cash rewards, travel or merchandise. 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®* benefits

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

  1. 1.

    800 Bonus Air Miles welcome bonus: 800 AIR MILES Welcome Bonus Miles when you spend $1,000 within the first three months*

  2. 2.

    No annual fee: There is no annual fee on this card – ever

  3. 3.

    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

  4. 4.

    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*.

  5. 5.

    Earn on everything: Earn 1 Air Miles rewards for every $25 spent on the credit card*

  6. 6.

    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!

  7. 7.

    Discounts: Car rental discounts*

  8. 8.

    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*

  9. 9.

    Low rate on balance transfers: Low 0.99% interest rate on balance transfers in the first 9 months (2% applies to balance amount transferred)*

Worth it?

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.

Better Offers?

To our knowledge, there is no better no fee Air Miles credit card offer than the 800 mile sign-up bonus* offered by the BMO® AIR MILES®† MasterCard®* right now. We think this is one the best options in the Canadian marketplace today.

*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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