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BMO Air Miles World Elite Mastercard Review

BMO AIR MILES®† World Elite®* Mastercard®* review

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4.5

Welcome Offer

Get 2,000 AIR MILES Bonus Miles and we’ll waive the $120 annual fee for the first year*.

3x Cardholders earn an accelerated 3x the Miles per $12 spent at participating AIR MILES partners*,

2x 2x the Miles for every $12 spent at any eligible grocery store*

1x reward mile for every $12 in credit card purchases, everywhere you spend*

25% discount on one worldwide AIR MILES flight redemption during the calendar year.*

$120 Annual Fee

20.99% Purchase APR

23.99% Cash Advance APR 21.99% for Quebec residents

23.99% Balance Transfer Rate

Excellent Recommended Credit Score

$80,000 Required Annual Personal Income

$150,000 Required Annual Household Income

4.5

BMO AIR MILES®† World Elite®* Mastercard®* review

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Quick overview of BMO AIR MILES World Elite Mastercard

Canadians have a love/hate relationship with AIR MILES. The loyalty program is one of the oldest out there and has a huge following, but some Canadians have found it difficult to make redemptions over the years. That being said, AIR MILES has made recent improvements to the program and new changes to the BMO AIR MILES®† World Elite®* Mastercard®* will have many travellers taking a second look at the card.

Who’s the BMO AIR MILES World Elite Mastercard for?

If you’re a frequent traveler who collects AIR MILES, this card is a great option for you as you can get closer to redeeming a free flight faster. The nice thing about AIR MILES is that participants have the ability to earn miles at many national Canadian retailers such as Shell, Children’s Place, Staples, Alamo and Transat. AIR MILES can also be collected at some regional grocery stores. When you pay with your BMO AIR MILES®† World Elite®* MasterCard®*, you earn additional miles so you’re able to ‘double dip.’ In our estimation the BMO AIR MILES®† World Elite®* MasterCard®* is the best AIR MILES credit card on the market.

Pros and cons

Pros

Pros

  • Offers the largest Air Miles sign-up bonus on the market with a waived first-year annual fee

  • High earn rates of up to 3x the Miles on eligible purchases

  • Exclusive travel discounts like 25% off one worldwide AIR MILES flight redemption annually

  • Airport lounge access through complimentary Mastercard Travel Pass membership

  • Comprehensive insurance package which covers medical, trip, flight delay, lost luggage and more

  • Additional Perks include Boingo Wi-Fi, BMO Concierge, digital subscriptions, and cash back promotions

Cons

Cons

  • An $80,000 personal/$150,000 household income is needed to qualify

  • Ideal for AIR MILES loyalists, may not suit those with a casual approach

  • The fixed redemption value for flights may not appeal to everyone

  • Optimal value only when frequently shopping at AIR MILES partners

BMO AIR MILES World Elite Mastercard welcome bonus

The sign-up bonus of 2,000 AIR MILES*, awarded after cardholders charge $3,000 to the card in the first three months, is the largest AIR MILES welcome bonus on the market.

Alternatively, you can opt to have those miles earned as Dream Miles. With 2,000 Dream Miles, where you can fly depends on where you’re leaving from and the season—one popular route is Toronto to Orlando. To see how many AIR MILES it’ll take you to reach a certain destination, check out the AIR MILES website. Keep in mind that you still need to pay airport/surcharge fees with any Dream Miles redemptions, but that’s no different than Aeroplan.

How to earn AIR MILES with the BMO AIR MILES World Elite Mastercard

With the BMO AIR MILES®† World Elite®* MasterCard®*, cardholders earn an accelerated 3x the Miles per $12 spent at participating AIR MILES partners*, as well as 2x the Miles for every $12 spent at any eligible grocery store* and a flat 1 Mile for every $12 in credit card purchases at all other merchants*. Other AIR MILES Mastercards on the market only generate 1 mile per $15 or $20 spent at all merchants, so you’re getting the best bang for your buck with the BMO AIR MILES®† World Elite®* MasterCard®*.

As an added bonus, you get an exclusive 25% discount on one worldwide AIR MILES flight redemption during the calendar year.*

How to redeem AIR MILES with the BMO AIR MILES World Elite Mastercard

You can use your AIR MILES and redeem them for flights to your dream destination. 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 World Elite Mastercard key benefits

Here are the notable key benefits that come with this card:

  • Waived annual fee for the first year
  • Complimentary membership in Mastercard Travel Pass provided by DragonPass*
  • Complimentary access to 1M Boingo Wi-Fi hotspots around the world*
  • Access to BMO Concierge Service

BMO AIR MILES World Elite Mastercard insurance coverage

One of the most underrated features of the BMO AIR MILES®† World Elite®* MasterCard®* is the comprehensive travel insurance package it comes with, which includes:

  • Emergency travel medical insurance*
  • Trip cancellation*
  • Trip interruption/trip delay*
  • Flight delay insurance*
  • Lost, delayed, or stole luggage insurance*
  • Rental car collision/loss damage insurance*
  • Travel accident insurance*

With emergency travel medical insurance, cardholders under the age of 65 are automatically covered for 15 days. Those 65 or older will need to purchase a separate travel insurance policy.

Keep in mind that you need to charge the full amount of your trip (usually just the flights and car rental) to your BMO AIR MILES®† World Elite®* MasterCard®* to qualify for all the additional insurance. The included travel insurance package does not include hotel/motel burglary insurance, but overall, it’s competitive with some of the top travel insurance credit cards in Canada.

What people have to say about this card

I have the BMO Airmiles MC World Elite card. It’s okay, you just get double the air miles, but the amount of air miles you get is so little if you don’t use air mile offer smarter...I use it primarily for buying gas from shell

/u/cm0011

As Reddit user, cm0011 shows, if you don't really use your AIR MILES smartly, the card's rewards program may seem lack lustre to you. If you're looking for a more flexible credit card rewards program, see how the card compares to its competitors below.

How BMO AIR MILES World Elite Mastercard compares

Before you finalize your credit card, see how the BMO AIR MILES World Elite Mastercard fares against other great credit cards on the Canadian market.

BMO AIR MILES World Elite Mastercard vs. American Express Cobalt Card

While both the BMO AIR MILES®† World Elite®* Mastercard®* and the American Express Cobalt are good choices for earning travel rewards, the Amex Cobalt stands out for its flexibility. The American Express Cobalt offers accelerated points accumulation across multiple categories like dining, groceries, transportation and travel, making it particularly beneficial for everyday spending. Additionally, the Amex Cobalt's redemption program provides greater flexibility; points can be transferred to various airlines partners or used for gift cards, statement credit, or merchandise. The eligibility criteria for the Amex Cobalt are also lower when compared to the BMO AIR MILES®† World Elite®* Mastercard®*. As far as additional perks go, the BMO AIR MILES®† World Elite®* Mastercard®* comes out on top as it offers lounge access and has a higher card acceptance rate than American Express.

BMO AIR MILES World Elite Mastercard vs. Scotiabank Passport Visa Infinite

Let's compare the BMO AIR MILES®† World Elite®* Mastercard®* with the Scotiabank Passport Visa Infinite card. Both cards come with an annual fee, with Scotiabank's Passport Visa Infinite being pricier at $150 annually. When evaluating rewards programs, Scotia's SCENE+ offers greater flexibility in redemption options. You can utilize your points for instant statement credit, travel credit, free movie tickets, gift cards and merchandise. Moreover, SCENE+ points grant discounts at partners like Swiss Chalet. Both cards provide lounge access, yet with the BMO AIR MILES®† World Elite®* Mastercard®*, complimentary DragonPass network lounge membership requires a paid admission of $32 USD per person, while the Passport Infinite offers 6 free lounge visits per year under Dragon Pass. The standout feature of the Scotia Visa Passport Infinite card is its absence of foreign transaction fees, a significant boon for frequent travelers. The BMO AIR MILES®† World Elite®* Mastercard®* charges a 2.5% fx fee on all foreign transactions. While the annual fee may be slightly higher, the Scotiabank Visa Passport Infinite distinguishes itself as a winner due to its flexibility, lack of foreign transaction fees and complimentary lounge access.

BMO AIR MILES World Elite Mastercard vs. BMO Eclipse Visa Infinite

Card BMO AIR MILES®† World Elite®* Mastercard®* reviewed BMO Eclipse Visa Infinite* Card
Annual fee $120 $120
Welcome offer Get up to 90,000 points and the annual fee waived in the first year for both the primary cardholder and authorized users Get up to 60,000 points worth $400 in travel rewards, a $50 lifestyle credit and the $120 annual fee waived in the first year - that's a $570 value in your first year!*
Insurance Travel emergency medical, Delayed and lost baggage, Trip cancellation, Flight delay, Trip interruption, Auto rental collision/loss damage, Hotel/motel burglary, Common carrier travel accident insurance, Purchase protection, Extended warranty Emergency travel medical insurance, Rental car collision/loss damage insurance, Common carrier accident insurance, Mobile device insurance
Benefits Earn 3x Miles per $12 spent at participating AIR MILES partners, 2x the Miles for every $12 spent at any eligible grocery store, 1x reward mile for every $12 in credit card purchases, everywhere you spend

Enjoy 25% off one worldwide AIR MILES flight redemption annually

iFAirport lounge access through complimentary Mastercard Travel Pass membership

Additional perks include Boingo Wi-Fi, BMO Concierge, digital subscriptions and cash back promotions 		Earn 5x the points for every $1 spent on groceries, gas, dining in and out and transit

Earn 10% more rewards points when you add an authorized user to your account

Enjoy $50 annual lifestyle credit to spend however you want

Enjoy access to Visa Infinite Experiences
Read review Hey, you are already reading it! BMO Eclipse Visa Infinite Card review
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If you're looking to maximize your everyday spending, then the BMO Eclipse Visa Infinite credit card is a better option as you can earn points at a faster rate. You also have the flexibility of redeeming your BMO rewards points for travel rewards, gift cards, merchandise, statement credit, or BMO investments. For someone who is an avid traveler, the BMO AIR MILES®† World Elite®* Mastercard®* may be more suitable due to its better travel insurance coverage and travel perks. 

Is it worth it?

There’s no denying that the sign-up bonus of 2,000 Air Miles and first year annual fee waiver* make this an appealing card, but who is the card best suited for in the long run?

Those loyal to Air Miles should not hesitate to sign up for the card, since they’ll get the highest earn rate of any Air Miles Mastercard out there. And if you happen to shop often at Air Miles partners you’ll get even greater value, as you can double dip on the points.

If you happen to fly often within a province, this card may also appeal to you since those flights are usually expensive if you’re paying out of pocket. With Air Miles, those same flights have a fixed redemption value, so it can work out in your favour.

On the other hand, if you view Air Miles as a secondary loyalty program that you only collect casually, you’re likely better off applying for a credit card where you can earn points in your preferred loyalty program.

BMO AIR MILES World Elite Mastercard eligibility criteria

To qualify for the BMO AIR MILES®† World Elite®* Mastercard®*, you must have an excellent credit score and a minimum of $80,000 in annual personal income or $150,000 in total household annual 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.

Barry Choi Moneywise Contributor

Barry Choi is a Toronto-based personal finance and travel expert who makes frequent media appearances. When he's not educating people on how to be smarter with money, he's earning and burning miles and points for luxury travel.

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