If you love collecting AIR MILES but want a credit card that does more than just rack up points, the BMO AIR MILES®† World Elite®* Mastercard®* could be your best bet. It’s one of three BMO cards that earn AIR MILES, but it stands out with premium insurance, higher earning potential, and travel perks that really pay off.
Here, we break down all the details and – spoiler alert – it’s one of our favourites.
Key Takeaways
- The BMO AIR MILES World Elite Mastercard is a premium card that charges a $120 annual fee, but earns miles at a faster rate.
- If you meet the card’s steep income requirements, you’ll earn AIR MILES that can be redeemed for travel rewards, cash back, discounts, experiences, and more.
- This BMO card also gives you World Elite Mastercard benefits that include Priceless Cities, 24/7 concierge service, and Mastercard Travel Pass.
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BMO AIR MILES World Elite Mastercard at a glance
Here's a quick look at the BMO AIR MILES World Elite Mastercard’s features:
| Feature | BMO AIR MILES World Elite Mastercard |
|---|---|
| Annual fee | $120 (first year free) |
| Income requirements | $80,000 personal or $150,000 household annual income |
| Welcome bonus |  $150 GeniusCash + Up to 9,000 bonus miles, first year free (terms) |
| Rewards | * 1 Mile for every $12 spent * 3x the Miles for every $12 at participating AIR MILES partners * 2x the Miles for every $12 spent at any eligible grocery, liquor, and wholesale stores |
| Insurance | * 14 types |
| Pros | * Save up to 7 cents per litre at Shell * 25% discount on annual reward flight * Membership to Mastercard Travel Pass * Automatic Onyx status |
| Cons | * High income requirements * Low rewards compared to other premium cards |
How to earn rewards with the BMO AIR MILES World Elite Mastercard
×1 Award winner 
GC: $150
1x Award winner Let's start with the basics – the rewards. It's essentially the most important aspect people consider when choosing a credit card. Fortunately, this BMO card is off to a great start.
You'll earn 9,000 Miles after spending $20,000 in the first year, and an additional $1,000 at wholesale clubs and grocery stores. Plus, you get the first year free.
As for your daily purchases, you'll earn:
- 1 Mile for every $12 spent
- 3x the Miles for every $12 at participating Air Miles partners
- 2x the Miles for every $12 spent at any eligible grocery, liquor, and wholesale stores
A typical $2,000 per month spend on this card would get you 2,545 Miles per year.
Cash Miles vs. Dream Miles
Before you can think about using your rewards, you have to choose between Dream Miles, Cash Miles, or a combination of the two.
- Cash Miles can only be redeemed on Cash Rewards (like cash vouchers or in-store discounts) at a rate of 95 Cash Miles per $10 off (or 10.5 cents per Mile).
- Dream Miles can only be redeemed for Dream Rewards. These include entertainment, merchandise, and travel, for up to 12.7 cents per Mile.
As you can see, Dream Miles offer more value, and you have more redemption options. However, if you don’t have upcoming travel plans, Cash Rewards are a useful way to save money at your favourite retailers.
You are allowed to convert Dream Miles and Cash Miles, but only if you have Gold or Onyx elite status.
How to redeem rewards with the BMO AIR MILES World Elite Mastercard
Before we get into how much an Air Mile is worth, we’ve got to point out that you could be earning Cash Miles, Dream Miles, or a combination of both. We’ll explain the value of each and cover your redemption options.
AIR MILES point value
Generally, the best way to use your Miles will be for travel. You can use them for flights, car rentals, hotels, and vacation packages.
The best value will generally be through car rentals. We have a maximum value of 12.7 cents per mile for travel redemptions, with a value of 10.5 cents per mile for flights.
However, that’s not your only redemption option:
| Reward category | Average value (cents per mile) | Type of mile | How to redeem |
|---|---|---|---|
| Car rentals | 12.7 | Dream Miles | Visit the AIR MILES Travel website or call customer service. |
| Vacation packages | 11 | Dream Miles | Visit the AIR MILES Travel website or call customer service. |
| eVoucher | 10.5 | Cash Miles | Visit the AIR MILES Cash Rewards website to redeem 95 Cash Miles for a $10 evoucher. |
| Flights | 10.5 | Dream Miles | Visit the AIR MILES Travel website or call customer service. |
| In-store discount | 10.5 | Cash Miles | Present your membership card at checkout to exchange 95 Cash Miles for a $10 discount. |
| Attractions | 10.2 | Dream Miles | Visit the AIR MILES Rewards website to purchase tickets for movies, concerts, zoos, and more. |
| Hotels | 9.8 | Dream Miles | Visit the AIR MILES Travel website or call customer service. |
| Merchandise | 9.5 | Dream Miles | Visit the AIR MILES Rewards website to purchase toys, electronics, kitchen appliances, and more. |
Learn more: How To Maximize The AIR MILES Rewards Program
Pros and cons of the BMO AIR MILES World Elite Mastercard
There are a few major considerations to keep in mind when deciding if this BMO card is right for you.
Pros:
- It comes with fantastic insurance coverage: When it comes to insurance coverage, this card is one of the best in Canada. Why does it rank so high? Because it provides 14 out of
17 insurance coverage offered by Canadian credit cards. - The annual fee is waived for BMO Premium Chequing account holders: This chequing plan costs $30.95 per month, but it also cancels out your credit card's $120 annual fee.
- The card gives you automatic AIR MILES Onyx status: Onyx status members get nice perks like flight and merchandise discounts, personal shoppers, priority customer service, and the ability to pay with Cash Miles when booking hotels and cars.
- You’ll enjoy free membership to airport lounges: Although you’ll have to pay a $32 entry fee, membership to the Mastercard Travel Pass is complimentary. You’ll get access to over 1,300 airport lounges around the world.
- You’ll save 25% on your annual reward flight: Save up to 750 of your hard-earned AIR MILES every year when you book your reward flight.
- You’ll get Mastercard World Elite benefits: These premium perks and benefits include Priceless Cities, concierge service, and everyday discounts and offers.
Cons
- As with everything, there are a couple of downsides to this card:
- The total value is lower than that of other premium cards: If you’re primarily collecting Cash Miles, you’ve got better options. Plus, many no fee cash back and travel cards will give you better rewards.
- The income requirements are steep: Since it’s a World Elite Mastercard, you’ve got to earn either $80,000 personal or $150,000 household income annually.
- The AIR MILES program isn’t as popular as it once was: Many popular retailers have dropped the program in recent years, and members don’t have as many redemption options as they used to. AIR MILES also faces challenges from its competitors, Scene+ and Aeroplan.
4 cards that pair well with the BMO AIR MILES World Elite Mastercard
The BMO AIR MILES World Elite Mastercard is a great travel card to have in your wallet, but having other complementary cards in your wallet can be helpful for other types of purchases.
Here are four cards that pair well with the BMO AIR MILES World Elite Mastercard:
| Credit card | Welcome bonus | Annual fee and income requirements | Rewards | Average earn rate | Apply now |
|---|---|---|---|---|---|
| Rogers Red Mastercard® | None | * $0 annual fee * No income requirements | * Earn 2% unlimited cash back on all eligible non-U.S. dollar purchases if you have 1 qualifying service with Rogers, Fido, Comwave, or Shaw * Earn 1% unlimited cash back on eligible non-U.S. dollar purchases * Earn 2% unlimited cash back on all eligible purchases made in U.S. dollars | 1% | Apply now |
| SimplyCash® Preferred Card from American Express | 10% cash back for the first 3 months + $50 (terms) | * $119.88 annual fee * No income requirements | * 4% cash back on gas and groceries * 2% cash back on all other purchases | 2.55% | Apply now |
| American Express Cobalt® Card | $100 GeniusCash + Up to 15,000 bonus points (terms) | * $191.88 annual fee, paid as $15.99 per month * No income requirements | * 5 points per $1 spent on eligible groceries and restaurants (up to $2,500 spent per month) * 3 points per $1 spent on eligible streaming services * 2 points per $1 spent on eligible gas, transit, and ride share purchases * 1 point per $1 spent on foreign currency purchases * 1 point per $1 spent on all other purchases | 4.5% | Apply now |
| Scotiabank Gold American Express® Card | $100 GeniusCash + Up to 50,000 bonus points, first year free (terms) | * $120 annual fee, first year free * $12,000 personal income requirement | * 6 Scene+ points per $1 spent at Sobeys, Safeway, FreshCo and more * 5 Scene+ points per $1 spent on groceries, dining, and entertainment * 3 Scene+ points per $1 spent on gas, select streaming services, and transit * 1 Scene+ point per $1 spent on foreign currency purchases * 1 Scene+ point per $1 spent on all other purchases | 2.45% | Apply now |
FAQ
Which credit card is best for AIR MILES?
The BMO AIR MILES World Elite Mastercard is the top AIR MILES credit card option. It has a higher annual fee than its competitors, but users earn miles faster, enjoy automatic Onyx status, and have more insurance coverage.
What are the benefits of the BMO Mastercard AIR MILES World Elite?
Along with automatic Onyx status and a generous insurance package, the BMO AIR MILES World Elite Mastercard provides World Elite Mastercard benefits like 24/7 concierge services, airport lounge access, and exclusive access to restaurants and events.
Does the BMO World Elite Mastercard have airport lounge access?
Your card includes membership for Mastercard Travel Pass, which gives you access to seven Canadian lounges and 1,500 global airlines through DragonPass. Although membership is free, you’ll have to pay US$32 for every visit.
How do I use my World Elite Mastercard for lounge access?
First, register your card online or via the Mastercard Travel Pass mobile app. Show your app or membership document – one with a QR code and DragonPass membership number – at the lounge’s front desk, and pay the $32 fee.
What are the BMO AIR MILES World Elite Mastercard travel benefits?
This BMO card comes with extensive travel benefits, including 14 types of insurance coverage, World Elite Mastercard benefits like access to unique dining experiences and events, a 25% discount on one reward flight every year, and more.
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