BMO Air Miles MasterCard Review

3.00

$0.00

Annual Fee

$122.28

Annual Rewards

1,500 miles

Intro Offer

$0.00

Annual fee

$122.28

Annual rewards

1,500 miles

Intro offer


Pros


  • No annual fee
  • Earn 1 Air Mile for every $20 spent
  • Welcome bonus of up to 800 Air Miles
  • 3x the Air Miles at participating partners
  • Purchase protection and extended warranty coverage
  • Additional MasterInclusiveTM travel insurance available

Cons


  • Lower earn rate compared to other Air Miles credit cards
  • No travel insurance included
  • Limited benefits and rewards for non-Air Miles collectors
  • Not suitable for those who want flexible reward redemption options
  • Foreign currency transactions charged at 2.5% fee

How you earn rewards

Each card earns rewards differently. Part of choosing your card is deciding what type of rewards you want to get. With BMO Air Miles MasterCard, here’s how you earn rewards:

Groceries0.08 miles
Specific Stores0.12 miles
All Other Spend0.04 miles

How much your rewards are worth

The dollar value of your rewards depends on the specific BMO rewards program and what you choose to redeem your points for.

For BMO Air Miles MasterCard in particular, if you spend $2,000.00 per month, here’s our estimated rewards earned depending on which reward you choose:

Redemption methodAnnual rewards
Transfer to partner airlines$122.28
Transfer to partner hotels$119.95
Merchandise$116.28
Car rentals$122.28
Vacations$134.64
Attractions$132.19
Cash rewards$122.28

Calculating your annual rewards

$24,000.00 annual spending x $0.51% return on spending = $122.28 annual rewards

$122.28 annual rewards – $0.00 annual fee = $$122.28 net annual rewards

Details and eligibility

Do I qualify?
Estimated Credit Score660 – 724
Personal Income$15,000.00
Interest Rates
Purchase20.9%
Cash Advance22.9%
Balance Transfer22.9%
Fees
Extra Card Fee$0
Card typeMasterCard

Insurance coverage

Extended Warranty1 year
Purchase Protection90 days

BMO Air Miles MasterCard Review

The BMO Air Miles MasterCard offers a unique rewards program that allows you to earn and redeem Air Miles Reward Miles on a variety of spending categories. Here, we will discuss the earning potential of the card, list four major benefits along with two significant drawbacks, and provide any other relevant information for potential users.

1. Earning Potential: With the BMO Air Miles MasterCard, cardholders will earn 1 Air Mile per $20 spent on eligible purchases, and up to 3x normally earned Air Miles at participating AIR MILES partners. The reward rate varies depending on the category of spending, such as dining, travel, and groceries. For instance, you can earn 2x the Miles when shopping at select AIR MILES partners like Rexall and Sobeys.

2. Benefit 1 – Welcome Offer: The first major advantage of using the BMO Air Miles MasterCard is the welcome offer. You can earn 800 bonus Air Miles after spending $1,000 in the first three months of card membership.

3. Benefit 2 – No Annual Fee: The absence of an annual fee saves you money in the long run and makes this card an attractive option, especially for those who are new to rewards credit cards and want to give the Air Miles program a try without committing to an annual fee.

4. Benefit 3 – Travel Benefits: The BMO Air Miles MasterCard comes with valuable travel benefits such as discounts on car rentals, purchase protection, and extended warranty on certain items bought using the card. These benefits enhance your travel experiences and provide you with peace of mind while on the go.

5. Benefit 4 – Flexible Redemption Options: With the BMO Air Miles MasterCard, you can redeem your earned Air Miles for a wide variety of rewards such as flights, hotels, merchandise, event tickets, and even other essential expenses like gas and groceries.

6. Drawback 1 – Limited Earning Potential: A significant drawback of this card is the limited earning potential when compared to other credit cards with reward programs. With 1 Air Mile earned per $20 spent on eligible purchases, it might take some time to accumulate enough Miles to redeem for valuable rewards.

7. Drawback 2 – Lack of Travel Insurance: The BMO Air Miles MasterCard does not offer comprehensive travel insurance coverage that typically comes with other travel-oriented credit cards. This may be a deal-breaker for some who prioritize extensive coverage while traveling.

8. Additional Information: It is essential to remember that to maximize your rewards with the BMO Air Miles MasterCard, you should shop at participating AIR MILES partners and use the card for your everyday purchases. While this card may not be the best choice for those seeking a high reward rate or extensive insurance coverage, it still provides a solid option for users looking to earn and redeem Air Miles without an annual fee.

Interested in other credit cards? Canadians that like the BMO Air Miles MasterCard credit card also like the BMO Rewards MasterCard. If you’re looking for other options you should consider the BMO eclipse Visa Infinite Privilege Card, and the BMO Air Miles MasterCard for Students.

FAQ

The BMO Air Miles MasterCard allows you to redeem your points for a variety of rewards, which include:

  • Travel Rewards: Use your Air Miles to book flights, cruises, car rentals, or vacation packages, as well as to cover taxes and fees related to your travel bookings.
  • Merchandise Rewards: Redeem Air Miles for an extensive range of products, such as electronics, home appliances, fitness equipment, fashion items, toys, and more. You can find these in the Air Miles reward catalogue on the official website.
  • Event and Entertainment Rewards: Exchange your points for tickets to concerts, sporting events, and other entertainment experiences, or for major attractions and theme parks.
  • Gift Cards & Prepaid Cards: Redeem points for gift cards at various retailers and dining establishments, or apply them towards a preloaded MasterCard that you can spend anywhere MasterCard is accepted.
  • Air Miles Cash Rewards: Use Air Miles at participating stores to make purchases using the Cash Rewards program, where you can redeem a specified amount of points for a certain dollar value (example: 95 points = $10).

The BMO Air Miles MasterCard credit card does incur foreign transaction fees. When cardholders use this credit card for transactions in a currency other than Canadian dollars, they are subject to a 2.5% foreign transaction fee charged on the converted amount. This fee is applied in addition to the conversion rate set by MasterCard International.

The BMO Air Miles MasterCard credit card does not have a minimum income requirement, making it accessible to a wide range of individuals regardless of their income level.

Key benefits

  • Earn rate: 1 Air Mile for every $20 in purchases
  • 3x the Air Miles at participating AIR MILES Partners
  • 19.99% regular interest rate on purchases
  • 22.99% interest on cash advances and balance transfers
  • No annual fee for the primary cardholder and supplementary cards
  • Up to two free supplementary cards for additional cardholders
  • Purchase protection for purchases made on the card
  • Extended warranty on eligible items purchased with the card
  • Optional MasterInclusiveTM insurance package at an additional cost
  • BMO Mobile Banking app for monitoring and managing account

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