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One of the largest travel rewards programs in Canada, Air Miles is affiliated with a wide variety of everyday retail partners, from grocery stores and gas stations, to liquor stores and travel outlets, where members earn points on their purchases. Savvy collectors know they can boost their earn rate by using the right credit card—and with its wide selection of partners and recently enhanced redemption options, the BMO Air Miles World Elite Mastercard is one of the best Air Miles credit cards in Canada, made even better with an annual fee rebate if you have the BMO Premium chequing account. Rounded out with travel insurance benefits, and purchase protection, this BMO credit card gives other premium travel rewards credit cards a run for their money.
BMO Air Miles World Elite Mastercard quick facts
| Annual fee | $120 (waived for the first year) |
| Rewards | 1 Air Miles Rewards Mile for every $12 spent |
| Welcome offer | Get 2,000 Bonus Miles |
| Points value | 1 Cash Mile = $0.105; Dream Miles values vary |
| Income requirement | $80,000 individual, or $150,000 as a household |
| Purchase interest rate | 19.99% |
| Best features | Accelerated Miles earn when shopping at Air Miles partner retailers; robust travel insurance and purchase protection benefits |
| Who it’s good for | Air Miles collectors, frequent travellers, high-income earners |
Get more details about the BMO Air Miles World Elite*
6 things to know about the BMO Air Miles World Elite Mastercard
You can earn Air Miles at an accelerated rate
If you already shop at Air Miles-affiliated retailers, it’s easy to accelerate your earn rate. The card features a flat earn rate of 1 Mile for every $12 spent anywhere. Additionally, if you scan your Air Miles Collector Card (either the physical or digital wallet card), you can earn three times as many Air Miles when you shop at popular partners like Sobeys, Metro grocery stores, Staples Canada, Ontario’s LCBO retail stores and Shell gas stations.
There’s a generous sign-up bonus
A welcome bonus of 3,000 Miles—enough for a free flight almost anywhere in North America—makes this one of the best Air Miles credit cards in Canada.
In addition, the card’s $120 annual fee is waived for your first year. (The waiver will continue if you have a BMO Premium chequing account, which offers an annual credit card rebate of up to $150 on a card of your choice.)
Flight discounts in North America
BMO Air Miles World Elite Mastercard cardholders can take advantage of a 15% discount when booking flights within North America using their Air Miles Reward Miles.
Additionally, there are no blackout periods—a big plus that isn’t offered by competing cards like those in the Aeroplan portfolio.
It comes with great travel insurance
As this card is part of the World Elite Mastercard portfolio, you’ll find a robust travel insurance offering from $2 million in travel medical emergency coverage on an unlimited number of annual trips to trip cancellation, interruption, delay, lost and delayed baggage insurance. If you’re renting a car, the card’s coverage of vehicles up to $60,000 protects drivers against collision, loss, and damage.
Even better, a rare personal effects insurance is included with car rentals to cover valuables left inside at the time the car was lost, stolen or damaged (to a total maximum of $2,000).
It’s a Mastercard, so it’s widely accepted
BMO’s credit cards are widely accepted around the world on the Mastercard network and, for added versatility, you can use your card through digital wallets like Apple Pay, as well.
If you like to shop at No Frills and Costco stores, you’ll be pleased to note that you can make purchases on your BMO Air Miles World Elite Mastercard to earn Miles with those retailers, neither of which accepts Visa or American Express cards.
How do I redeem my Air Miles?
Air Miles users can decide how they want to earn their rewards for future redemption: either through Air Miles Cash Miles for redemption on everyday purchases; Air Miles Dream Miles for travel; or a combination of the two. Through the Air Miles’ app, simply how you’d like to split your Miles, by percentage, and they will be divided accordingly as you earn. Make sure you carry both your Air Miles credit card and Collector Card (or load them on your mobile wallet) to ensure you’re earning twice at affiliated partners.
Air Miles Cash Miles can be redeemed at 95 Miles to a $10 voucher for use at participating retailers like Sobeys, Metro grocery stores, Shell gas stations, and Staples Canada, while Air Miles Dream Miles are allocated for travel redemption, including flights, hotels, and vacation packages. These are booked through the Air Miles travel portal, where the number of Miles required vary from distance to time of year. This easy-to-use tool allows you to preview destination options based on number of Miles to be redeemed, along with low- and high-season fluctuations.
Air Miles members must pay additional taxes and surcharges on travel redemptions, and these costs cannot generally be covered with Air Miles.
Are there any drawbacks to the BMO Air Miles World Elite?
While the Air Miles program has a wide spectrum of retail partners, the redemption system can be harder to navigate and isn’t as straightforward than other bank-run cards. Competitor cards like the Scotiabank Gold American Express and BMO World Elite Mastercard offer earn accelerators in bonus categories like travel, dining and entertainment, and do allow users to cover the cost of travel taxes and fees by redeeming points.
When it comes to everyday rewards, the BMO Air Miles World Elite is above the cut of virtually all other Air Miles credit cards with the exception of the Air Miles Platinum Card from American Express*—which will earn you slightly more Miles per dollar on gas, dining, and transit. That said, the American Express Air Miles Platinum does have its fair share of drawbacks like a smaller welcome bonus, fewer travel perks, and lower acceptance at certain merchants like discount grocers. All things considered, the BMO World Elite is still our pick as the best overall Air Miles credit card.
Finally, while the card’s benefits represent incredible value, there are similar credit cards with airport lounge access out there that offer four free visits per year.
Get more details about the BMO Air Miles World Elite*
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