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Student BMO AIR MILES Mastercard Review

Student BMO AIR MILES®† Mastercard®* review

Tyler Wade

Mar 24, 2025

While we adhere to strict editorial guidelines, partners on this page may provide us earnings.

Overall rating

First year value

$201

Get this card if you:

  • are a student who wants to earn Air Miles on everyday spending
  • don't want to pay an annual fee
  • value a great welcome offer

Scores by category

Student 3.2

Travel 2.1

No Annual Fee 2.0

At a glance

The BMO AIR MILES®† Mastercard®* for Students is a no-annual-fee credit card tailored for students, enabling them to earn AIR MILES on everyday purchases, with accelerated rates at participating AIR MILES Partners and eligible grocery stores. It offers benefits such as purchase protection and extended warranty, making it a practical choice for students looking to build credit while earning travel rewards.

Highlights

$201

First year value

800 AIR MILES†

Welcome bonus

$0

Annual fee

Interest Rates

21.99%

Purchase APR

23.99%

Balance transfer APR

23.99%

Cash advance APR

Eligibility

Good

Recommended credit score

Quick overview of the BMO Student AIR MILES Mastercard

The Student BMO AIR MILES®† Mastercard®* is a solid option for students looking to dive into the world of credit cards and start earning rewards. With no annual fee and a generous welcome bonus it offers a great start for young adults building their credit history. 

However, as a student, pay close attention to the purchase APR of 21.99%. Many of the best student credit cards offer much lower interest rates, which help keep your spending and credit score in check.

BMO Student AIR MILES®† Mastercard®* is tailor-made for students between the ages of 18 and 24 who are enrolled in a post-secondary institution. It’s perfect for a wide selection of students, including:

  • Savvy traveller: Perfect for the 18 to 24 year-old student who is savvy enough to check for AIR MILES partners before shopping and looking to explore the world on a student budget.
  • Grocery guru: Budget-conscious students (both on-campus and off) and regularly shop at eligible grocery stores like Metro will also love the BMO AIR MILES Student Card. That's because the card earns lucrative rewards on grocery purchases and AIR MILES allows them the ability to redeem Miles for groceries or kitchen essentials.
  • Social butterflies: Students active in student clubs and events will love that they can earn Miles on social activities and dining out. Even better, they can redeem their Miles for experiences or concert tickets.

Pros and cons of BMO Student AIR MILES Mastercard

Pros
  • No annual fee: this makes it cost-effective for students looking to build credit without incurring additional expenses.
  • Earn cash back on everyday purchases, including up to 5% cash back on every purchase in your first three months.
  • Credit building: If you’re responsible, you can build a positive credit history, which helps you get better credit cards and more
Cons
  • Higher interest rates: If you can’t pay off your balance in full, opt for a low interest credit card
  • Limited additional benefits: While there are some benefits, it’s not the full suite of perks, but then again, there’s no annual fee.

BMO Student AIR MILES Mastercard welcome offer

The BMO AIR MILES Mastercard for Students comes with a pretty solid welcome bonus for a student credit card:

  • Get 800 AIR MILES Bonus Miles.†

  • 800 AIR MILES Bonus Miles† welcome bonus details

    +

    Get 800 AIR MILES Bonus Miles‡ (that’s enough for $80 towards purchases with AIR MILES Cash).

    800 Bonus Miles will be awarded when you spend $1,000 in net card purchases in the first three (3) months from the Credit Card open date.

The BMO Student AIR MILES Mastercard offers basic rewards for students who plan on using their new credit card for groceries and travelling:

  • Earn 3x the Miles for every $25 spent at participating AIR MILES Partners.
  • Earn 2x the Miles for every $25 spent at any eligible grocery store.
  • Earn 1 Mile for every $25 spent on all other purchases.

AIR MILES partners with a huge number of merchants to offer additional miles on purchases. Here's a quick breakdown of eligible AIR MILES sponsors:

Category
Example brands
Apparel
Adidas, Aldo, Amazon.ca, Footlocker, Gap, Hudson’s Bay, J. Crew, Nike, Roots
Automotive
Alamo, Budget, Jiffy Lube, National, Shell
Grocery stores:
Foodland, IGA, Metro, Sobeys
Pharmacies
Pharmasave
Technology
Apple, Canon, Dell, Dyson, Microsoft, Staples
Travel
Booking.com, Best Western, Expedia.ca, FlightHub.com, Holiday Inn, priceline.com

What are AIR MILES worth?

BMO AIR MILES have a value of 10 cents per point ($0.10/pt.). Points expire after 24 months of account inactivity.

AIR MILES points have different values depending on how you redeem them. Here are the current valuations for AIR MILES points:

  • Cash back or statement credits: 10 cents per point
  • Merchandise or gift cards: 7 cents per point
  • Travel (economy class): 10.5 cents per point
  • Travel (business class): 13 cents per point

If you're a student who loves to travel, you can use your AIR MILES and redeem them for flights. The amount of AIR MILES needed will depend on the destination you're flying to. 

You also have the option of converting AIR MILES to Cash Miles. 95 Cash Miles= $10, which can be used towards your purchases at participating AIR MILES partner locations. We recommend using AIR MILES for travel redemption so you get the best value. Learn more about redeeming AIR MILES.

Key benefits of the BMO AIR MILES Student Mastercard

  • $0 annual fee, which is great for students
  • Decent welcome bonus
  • Extended warranty and purchase protection insurance

BMO top tip: PaySmart Installment Plans

Spread out larger purchases into manageable installments with BMO PaySmart. This program makes it easy for BMO cardholders to set up installment plans in just a few steps and keep tabs on existing plans.

Here's how BMO PaySmart works:

  • Eligibility: You can use PaySmart for purchases of $100 or more on your BMO credit card
  • Terms: Choose to spread your payment over 3, 6, or 12 months
  • Monthly fee: Instead of interest, you pay a fixed monthly fee. This means no surprises on your bill
  • Account integration: Your installment payments are automatically included in your monthly credit card statement

BMO Student AIR MILES Mastercard insurance coverage

Protection
Coverage
Extended warranty
Enjoy an additional 1 year of warranty on your purchases.
Purchase Protection
Your purchases are protected against theft or damage for 90 days from the date of purchase.

  • Save up to 25% on rentals at National and Alamo Rent A Car (check availability at desired rental location if you’re under 21)
  • The ability to add another cardholder at no extra cost
  • BMO PaySmart™ turns big purchases into smaller interest-free monthly payments for a low fee. 

How the BMO Student AIR MILES Mastercard compares

BMO Student AIR MILES®† Mastercard is a student credit card with a focus on travel rewards through the AIR MILES program. Let’s compare a few other student cards to see how it stacks up:

15,152 points†

Welcome Bonus

$253

First Year Value

$203

Annual Value

Welcome Bonus: Earn a value of $50† in TD Rewards Points† to use on eligible Amazon.ca purchases. Conditions Apply. Offer effective as of January 7, 2025.

Apply Now On TD's Secure Site
BMO Student AIR MILES® TD Rewards Visa Card
Annual fee:
$0 		Annual fee:
$0
Welcome bonus:
Get 800 AIR MILES Bonus Miles.† 		Welcome bonus:
Earn a value of $50† in TD Rewards Points† to use on eligible Amazon.ca purchases. Conditions Apply. Offer effective as of January 7, 2025.
Rewards:
Earn 3x the Miles for every $25 spent at participating AIR MILES Reward Partners
Earn 2 Miles for every $25 spent at any eligible grocery stores
Earn twice the AIR MILES at partner locations 		Rewards:
Earn 4 TD Rewards Points for every $1 you spend on travel through ExpediaForTD.com†
Earn 3 TD Rewards Points for every $1 you spend on Groceries, Dining, and Public Transit†.
Earn 2 TD Rewards Points for every $1 you spend on Recurring Bill Payments and Streaming, Digital Gaming & Media†
Earn 1 TD Rewards Point for every $1 you spend on all other purchases†
Perks:
10% off at select AIR MILES Partners
Exclusive AIR MILES offers 		Perks:
Travel insurance
Purchase protection and extended warranty
- Apply Now

Key takeaways

  • The BMO AIR MILES Student Mastercard caters to a specific niche - students who are already AIR MILES enthusiasts or aspire to be frequent travelers. It's like a starter pack for the jet-setting student lifestyle.
  • TD Rewards Visa takes a more holistic approach to student life, recognizing that not all students are travel-focused. Its reward structure feels like it was designed by someone who actually remembers what it's like to be a student.
  • BMO's card is playing the long game with students, betting on brand loyalty to AIR MILES. It's like they're saying, "Start collecting now, and by graduation, you'll have enough miles for that epic post-uni trip."
  • TD's focus on public transit and drinking establishments in its rewards structure is a savvy move. It's almost as if they're acknowledging that yes, students commute to class and yes, they might enjoy a pint or two.

Disclosures:

  • †Terms and conditions apply.

    This offer is not available to residents of Quebec.

    The Toronto-Dominion Bank (TD) is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete and current information on any TD product, please click the Apply Now button. Sponsored Content.

up to 7,000 points†

Welcome Bonus

$506

First Year Value

$456

Annual Value

Welcome Bonus: Get up to 7,000 Avion points^ - that’s up to $50 of value in gift cards!†

Apply Now On RBC's Secure Site

RBC ION+ Visa - winner, best student credit card in the Money.ca Credit Card Awards

BMO Student AIR MILES RBC ION+
Annual fee:
$0 		Annual fee:
$48 ($4 per month)
Welcome bonus:
800 AIR MILES Bonus Miles† 		Welcome bonus:
up to 7,000 Avion points†
Rewards:
Earn 3x the Miles for every $25 spent at participating AIR MILES Reward Partners
Earn 2 Miles for every $25 spent at any eligible grocery stores
Earn twice the AIR MILES at partner locations 		Rewards:
Earn 3 Avion points† per $1 on qualifying grocery, dining, food delivery, gas, rideshare, public transit, EV charging, streaming, digital gaming and online subscriptions
Earn 1 Avion point per $1 on all other purchases
Perks:
10% off at select AIR MILES Partners
Exclusive AIR MILES offers 		Perks:
Mobile device insurance
Purchase security and extended warranty
- Apply Now

Key takeaways

  • BMO's AIR MILES Student Mastercard shines for travel enthusiasts and strategic shoppers. If you're savvy about maximizing AIR MILES partners, this card could yield significant travel rewards, making it ideal for students planning future trips or spring breaks.
  • The mobile device insurance offered by the RBC Ion+ Visa is a standout feature in the student card market. In an age where smartphones are essential for both studies and social life, this benefit provides real, tangible value that many students might overlook.
  • BMO's card encourages brand loyalty through its AIR MILES focus, which could be a double-edged sword. It's great for those already invested in the AIR MILES ecosystem but might feel limiting for students seeking more flexible rewards.
  • The RBC Ion+ Visa's straightforward points system (with cash back option) might be more appealing to financially-conscious students who prefer immediate, tangible benefits over long-term travel rewards.

Disclosures:

  • Refer to RBC page for up to date offer terms and conditions.

    This post contains affiliate links. Please read disclaimer for more info.

    Disclaimer: Money.ca may engage in affiliate marketing, which is done by embedding tracking links into Money.ca. If you click on a link for an affiliate partnership, a cookie will be placed on your browser to track any sales for purposes of commissions.

Is the BMO Student AIR MILES®† Mastercard®* worth it?

Wrapping up, BMO Student AIR MILES®† Mastercard®* stands out as a strong contender for students looking to earn AIR MILES while building their credit. 

The no annual fee and generous welcome bonus are significant perks, but the high APR is a bit of a drawback if you don’t pay off your balance in full every month. When compared to other student cards in the market, BMO Student AIR MILES®† Mastercard®* holds its ground, especially for those who frequent AIR MILES Partners. But if you’re more loyal to your bank than your credit card, look to bundle the deals to save money, especially as a student on a budget. 

BMO Student AIR MILES Mastercard eligibility

To qualify for the BMO Student AIR MILES®† Mastercard®* you must be enrolled into an educational institution. Other requirements:

  • Income required: N/A
  • Credit score: Good
  • Age: 18+
  • Residency: Canadian resident

Disclosures

  • *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.

FAQs

  • What is the interest rate on BMO Student AIR MILES®† Mastercard®*?

    +

    The purchase APR on BMO Student AIR MILES®† Mastercard®* is 21.99%, and the cash advance APR is 23.99% (21.99% for Quebec residents). It’s important for cardholders to manage their spending and make timely payments to avoid incurring high interest charges.

  • What is the annual fee for BMO Student AIR MILES®† Mastercard®*?

    +

    BMO Student AIR MILES®† Mastercard® has no annual fee, making it a cost-effective option for students looking to build credit and earn rewards without additional charges.

  • Can I add an additional cardholder, and if so, is there a fee?

    +

    Yes, you can add another cardholder to your BMO Student AIR MILES®† Mastercard®* account at no extra cost. This feature adds flexibility and allows you to share the benefits of the card with a family member or friend.

Tyler Wade Personal finance content strategist & writer

Tyler Wade has worked in personal finance for over 5 years writing for brands like Ratehub, Forbes, KOHO, and now Money.ca.

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†Terms and Conditions apply.