BMO Air Miles Mastercard

BMO AIR MILES® Mastercard®* for Students

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bmo cashback mastercard

BMO CashBack® Mastercard®

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BMO AIR MILES® Mastercard®* for Students vs BMO CashBack® Mastercard®: Which one is better?


BMO Air Miles Mastercard

BMO AIR MILES® Mastercard®* for Students

4


RECOMMENDED CREDIT SCORE*

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

bmo cashback mastercard

BMO CashBack® Mastercard®

3.2


RECOMMENDED CREDIT SCORE*

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

Rewards Breakdown

Annual Rewards

$63.16

Air Miles


First Year Bonus Value

$144

Air Miles


Annual Fee

$0


First Year Value

$207.16

$63.16 in years after

Based on $2,000/mo average spending. Calculate your rewards.

Rewards Breakdown

Annual Rewards

$238.05


First Year Bonus Value

$94.3


Annual Fee

$0


First Year Value

$332.35

$238.05 in years after

Based on $2,000/mo average spending. Calculate your rewards.

Insurance Included*

  • extended warranty

    Extended Warranty

    1 year
  • purchase protection

    Purchase Protection

    90 days

Insurance Included*

  • extended warranty

    Extended Warranty

    1 year
  • purchase protection

    Purchase Protection

    90 days

Extra Benefits*

  • car rental

    Car Rental Discount

    20% off base rate of participating National Car Rental and Alamo Rent a Car and up to 5% on Enterprise Rent-A-Car
  • discount

    Discount

    Save up to 7% on your Booking.com prepaid hotel or property rental bookings
  • discount

    Discount

    Up to 7 cents off per litre on Shell® fuel if you are an AirMiles collector
  • discount

    Discount

    Get 20% off admission to Cirque du Soleil shows touring Canada, and 15% off resident shows in Las Vegas

Extra Benefits*

  • car rental

    Car Rental Discount

    Save up to 20% on National Car Rental® and Alamo Rent A Car® and up to 5% on Enterprise Rent-A-Car® at locations worldwide using the Car Rental Booking tool.
  • discount

    Discount

    Get 20% off admission to Cirque du Soleil shows touring Canada, and 15% off resident shows in Las Vegas.

  • gas station

    Gas Discount

    Save up to 7 cents per litre at Shell stations when linked with Air Miles
  • discount

    Hotel Booking Discount

    Save up to 7% on your Booking.com prepaid hotel or property rental bookings at booking.com/mastercardcanada.

Interest Rates*

Purchase:

21.99%

Cash Advance:

23.99%

Balance Transfer:

23.99%

Interest Rates*

Purchase:

21.99%2

Cash Advance:

23.99%2

Balance Transfer:

23.99%2

Annual Fee*

$0

Annual Fee*

$0

Income Required*

Min Personal Income:

N/A

Min Household Income:

N/A

Income Required*

Min Personal Income:

$15,000

Min Household Income:

N/A

Welcome Bonus*

Get 800 AIR MILES Bonus Miles when you spend $1,000 in net card purchases (less refunds and excluding cash advances, cash-like transactions, interest charges, fees, credit, or debit adjustments) in the first three (3) months from the Credit Card open date.

Welcome Bonus*

Get up to 5% cash back in your first 3 months and a 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee*.

Rewards Rate*

  • 3x Miles points per $25 spent at participating AIR MILES Partners
  • 2x Miles points per $25 spent on eligible grocery purchases
  • 1x Mile point per $25 spent on all other eligible purchases

Rewards Rate*

  • 3% cash back on grocery purchases (maximum $15 per statement)
  • 1% cash back on recurring payments like bills or subscriptions (maximum $5 per statement)
  • 0.5% cash back on all other purchases

Loyalty Program*

Loyalty Program*

N/A

Point Redemption Options*

  • Most Optimal

    travel - plane

    Travel

    18¢ / point
  • cash coins

    Statement Credits (Cash)

    10¢ / point
  • online shop

    Merchandise

    9¢ / point

Point Redemption Options*

Not Applicable

Is this card worth it?

The BMO Air Miles Student Mastercard is an excellent option for those looking to collect Air Miles without paying an annual fee. With bonus earning opportunities at Air Miles partners and grocery stores, this card is ideal for regular Air Miles collectors. It also offers perks like fuel savings at Shell and a competitive balance transfer rate, making it a versatile card for everyday purchases. However, its limited rewards outside of partner stores may not make it the best fit for those who don't frequently shop at Air Miles-affiliated retailers.

Is this card worth it?

This is a great basic cashback credit card for those that prefer no annual fees while getting one of the highest cashback rates on groceries. You also have the additional benefit of redeeming cashback at any point without needing to wait.

Pros

  • No annual fee: The card is free to hold, making it a cost-effective way to collect Air Miles.
  • Bonus miles at partners: Earn 3x the miles at Air Miles partners and 2x the miles at grocery, liquor, and wholesale stores.
  • Fuel savings: Save up to 7 cents per litre at Shell stations, with the potential to save up to $100 annually.
  • Balance transfer offer: 0.99% promotional interest rate on balance transfers for the first 9 months.

Pros

  • No annual fee, making it a cost-effective option.
  • Up to 3% cash back on groceries and 1% on recurring bill payments.
  • Save up to 7 cents per litre at Shell stations when linked with Air Miles.

Cons

  • Low base earn rate: Earn only 1 Air Mile per $25 spent on all non-bonus purchases.
  • Limited insurance: The card only offers basic insurance, such as extended warranty and purchase protection.
  • Limited value outside Air Miles partners: Rewards earning potential is higher at participating partners, but significantly lower for general spending.

Cons

  • Low base earn rate of 0.5% cash back on non-bonus purchases.
  • Limited insurance coverage (extended warranty and purchase protection only).

Legal


*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. Check here for full details and current product information.
2 Terms and conditions apply. Each balance transfer is subject to a fee of 2% which will be charged to your account on the date the balance transfer is posted to your Account.

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