BMO AIR MILES® World Elite®* Mastercard®*
Review

• 

  Purchase Protection

  90 days
• 

  Extended Warranty

  double up to 1 year
• 

  Trip Cancellation

  $1.5K/person, $5K/trip
• 

  Trip Interruption

  $1.5K/person, $10K/trip
• 

  Emergency Out of province Medical

  $5M up 15 days/person
• 

  Travel Accident

  $500,000/person
• 

  Flight Delay

  $500
• 

  Baggage Delay

  $500/person, $1K/trip
• 

  Lost or Stolen Baggage

  $500/person, $1K/trip
• 

  Hotel Burglary Insurance

  $1,000
• 

  Car Rental Damage & Theft

  $65,000 up to 48 days

• 

  Airport Lounge - Dragon Pass

  Pass only - complimentary visits not included
• 

  Discount

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

  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

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

  Discount

  Annual 25% discount on one worldwide AIR MILES flight redemption
• 

  Status lift

  Automatic Air Miles Onyx status

Recognizable as our best overall Air Miles credit card, the BMO AIR MILES World Elite Mastercard offers up strong Miles points through purchases made with participating partners, plus eligible grocery, liquor and wholesale store purchases.

This impressive rewards program is met with solid travel insurance and perks.

To learn more about this Air Miles contender, keep reading.

How You Earn Rewards with the BMO AIR MILES World Elite Mastercard

Let’s break down those rewards even further.

Here’s exactly what you can expect to collect with the BMO AIR MILES World Elite Mastercard:

• 3x Miles points per $12 spent at participating AIR MILES Partners
• 2x Miles points per $12 spent on eligible grocery, liquor, and wholesale store purchases
• 1x Mile point per $12 spent on all other eligible purchases

For the strongest earn opportunities through participating AIR MILES Partners, support these retailers:

Besides optimizing through partners, you can also earn decent points on some of your day-to-day errands.

Redeeming your Rewards with the BMO AIR MILES World Elite Mastercard

There are a few ways you can redeem your Air Miles points, these redemption categories include:

• Travel: redeem points towards eligible flights or vacation packages.
• Statement credits: redeem points as cash towards your statement balance.
• Merchandise: redeem points to purchase eligible everyday items like kitchen tools and supplies.

5 Benefits of the BMO AIR MILES World Elite Mastercard

Perhaps the best aspect of the BMO AIR MILES World Elite Mastercard, are its benefits.

Here’s a closer look at the perks that come with this credit card:

More Miles Upfront

Aside from the rebate, successful applicants will also receive extra Miles if they meet certain spending requirements within the first few months of card membership.

Comprehensive Travel Insurance

What would a travel credit card be without comprehensive insurance coverage? With the BMO AIR MILES World Elite Mastercard, embark on your trips with peace of mind with 11 protections like trip interruption and trip cancellation insurance, hotel burglary insurance, and flight and baggage delay insurance.

Dragon Pass Membership

No one likes standing around an airport for hours on end, that is until they enter an airport lounge.

While the BMO AIR MILES World Elite Mastercard doesn’t come with complimentary lounge access, it does provide cardholders with a Dragon Pass membership. All that’s left to do is to pay a small entry fee for you and any travel companions.

A Variety of Discounts

There are several different discounts offered by the BMO AIR MILES World Elite Mastercard.

Here’s what you’ll save on specifically:

• Every litre of Shell fuel
• Every Booking.com prepaid hotel or property rental booking
• One worldwide AIR MILES flight redemption annually
• Rental cars at participating National Car Rental, Alamo Rent a Car, and Enterprise Rent-A-Car locations

An Automatic Air Miles Status Lift

Imagine getting a status upgrade simply for being a cardholder? This scenario becomes a reality with the BMO AIR MILES World Elite Mastercard, earning you automatic Air Miles Onyx status.

Onyx status unlocks exclusive travel earn rates, travel bundles, and annual promotions.

2 Downsides of the BMO AIR MILES World Elite Mastercard

Of course, there are a couple of downsides to the BMO AIR MILES World Elite Mastercard.

Specifically, you’ll want to note the card’s:

High Income Requirements

For a successful application, cardholders are required to have either a personal annual income of $80,000 or a household annual income of $150,000.

Less Appealing Rewards Program by Comparison

Sure, the BMO AIR MILES World Elite Mastercard offers good rewards within the realm of Air Miles, but compared to other premium credit cards, the points aren’t quite as flexible or substantial. Loyalty programs like American Express Membership Rewards, Scene+, and TD Rewards are top examples that might offer more valuable and versatile points across specialized categories.

Comparison to Other Air Miles Credit Cards

There are two other Air Miles credit cards on the Canadian Market that are worth comparing to the BMO AIR MILES World Elite Mastercard, considering they’re this card’s closest competitors.

Here’s a quick look at the comparisons we’ll be making:

BMO AIR MILES World Elite Mastercard vs BMO AIR MILES Mastercard

Want to swap the BMO AIR MILES World Elite Mastercard for a no-fee alternative? Consider the  BMO AIR MILES Mastercard.

Starting with the rewards, you’ll have to spend about double the money to receive the same amount of Miles as the BMO AIR MILES World Elite Mastercard on purchases made through participating AIR MILES Partners. The same goes for point optimization on eligible groceries and the overall base rate on everything else. It’s also worth noting that the BMO AIR MILES Mastercard doesn’t optimize categories like liquor and wholesale store purchases, like the BMO AIR MILES World Elite Mastercard.

When it comes to coverage, you’ll only be pocketing the basics with the BMO AIR MILES Mastercard – extended warranty insurance and purchase protection insurance, whereas the BMO AIR MILES World Elite Mastercard goes on to add tons of valuable travel coverage.

While both cards boast discounts on car rentals, Booking.com hotel and rental property arrangements, and Shell fuel, the BMO AIR MILES Mastercard uniquely saves you money on admission to Cirque du Soleil shows in Canada and Las Vegas – rather than an annual AIR MILES flight redemption. Overall, the BMO AIR MILES World Elite Mastercard provides a couple more perks – like a Dragon Pass membership and automatic Air Miles Onyx status – but this is to be expected since it’s a paid credit card.

Another aspect of the BMO AIR MILES Mastercard that some applicants might enjoy is the fact that it has no annual income requirements, unlike the BMO AIR MILES World Elite Mastercard.

Ultimately, you’d likely only pick the BMO AIR MILES Mastercard over the BMO AIR MILES World Elite Mastercard if you’re an Air Miles collector who doesn’t meet high income requirements and wants to avoid annual fees while still earning some similar perks to the BMO AIR MILES World Elite Mastercard.

BMO AIR MILES World Elite Mastercard vs BMO AIR MILES Mastercard for Students

Perhaps you’re a student seeking an Air Miles credit card with no annual fee. If that’s the case, consider opting for the BMO AIR MILES Mastercard for Students instead of the BMO AIR MILES World Elite Mastercard.

Similar to the previous BMO AIR MILES Mastercard, you’ll need to spend a little more on shared categories like participating AIR MILES Partner, grocery, and other eligible purchases to receive the same optimization rates as the BMO AIR MILES World Elite Mastercard.

Also like the BMO AIR MILES Mastercard, you’ll only receive basic coverage, specifically extended warranty insurance and purchase protection insurance, while the BMO AIR MILES World Elite Mastercard goes on to add sought-after categories like trip interruption and trip cancellation insurance.

The BMO AIR MILES Mastercard for Students also offers the same discount benefits as the BMO AIR MILES Mastercard, lacking the BMO AIR MILES World Elite Mastercard’s Dragon Pass membership and automatic Onyx status lift. Likewise to the BMO AIR MILES Mastercard, it comes with no income requirements.

So, what differentiates the BMO AIR MILES Mastercard for Students from the BMO AIR MILES Mastercard? The key distinction comes from each card’s recommended credit score. For instance, you might have a better chance of obtaining the The BMO AIR MILES Mastercard for Students over the BMO AIR MILES Mastercard with a poorer score.

Therefore, if you’re a newcomer to credit card ownership, then the ideal BMO Air Miles option is the budget-friendly and credit-score-conscious BMO AIR MILES Mastercard for Students. 

Final Verdict

If you can meet its higher income requirements and don’t mind fronting an annual fee after the first year of membership, then the BMO AIR MILES World Elite Mastercard is the most premium Air Miles option on the Canadian market. However, overall if you don't necessarily need to stick with Air Miles, there are some other better credit cards in the Canadian market.

With this card, eligible cardholders receive the best point-to-dollar-spent ratio, tons of travel insurance, and valuable benefits like a Dragon Pass membership and an automatic Air Miles Onyx status lift.

Still, if you’re looking to avoid annual fees and income requirements but still collect Air Miles, you might consider the BMO AIR MILES Mastercard instead. Alternatively, if you haven’t had time to build a healthy credit score during your studies, try the BMO AIR MILES Mastercard for students.