Whether you like shopping in bulk or not…

Costco has something for everyone.

Great prices on books, some of the cheapest veggies in town, an unbeatable return policy…

And even if you’re only going for the Saturday munchies, if you’re anything like me, it’s hard to leave without spending at least $100.

No matter what you’re buying at Costco, make sure you’re earning valuable rewards on ALL of those purchases.

Shopping at Costco? You need a Mastercard

Finding the best card for Costco is important to a lot of people.

We want our oversized Costco sheet cake, with our credit card rewards on top.

Costco only takes credit cards that are part of the Mastercard network – thus eliminating about half the credit cards in Canada – and although we thought we had it figured out, another bank has come along to throw their name in the ring.

And the award goes to…


We sure are.

But BMO has recently made some changes to the , are we’re pretty darn giddy about it.

This card was already the best AIR MILES card in Canada, and, friends… it just got better.

Rate Your Wallet and find your perfect match.

All the exciting details

The , already had a lot of really great things going for it.

And now, if you can believe it, this card is even better.

For starters, BMO is waiving the annual fee for the first year.

Anytime you can get a premium credit card for no annual fee, it’s something to get excited about.

Secondly, BMO is increasing the sign up bonus from 2,000 AIR MILES miles, to 3,000 miles – a 50% increase!

With this sign-up bonus, cardholders will have enough AIR MILES in their account to earn them 2 short-haul flights right off the bat, not a bad way to start things off.

Finally, as an added incentive, BMO is giving new cardholders a companion flight rebate.

You’ve got questions, we’ve got answers

As the only card on the Canadian market right now that is offering cardholders a companion flight rebate, you probably have questions:

How does a companion flight rebate work?

New cardholders will be given a one time flight rebate when they book two AIR MILES flights through airmiles.ca using Dream Miles.

Because this is a rebate, cardholders will need to have enough AIR MILES miles on their account to cover the full costs of both flights and then half of the miles will be credited back to your account within 45 days of booking.

What are some of the terms and conditions around the companion flight rebate?

As with anything, there is some fine print you should make sure you’re aware of:

  • Both flight tickets must be booked in the same transaction, and on the same itinerary (both flights must be travelling on the same day, departing from the same location in Canada, and arriving to the same destination).
  • The companion flight offer can only be applied to the 1st flight redemption after acquiring the card, no exceptions.
  • To be eligible for this offer, your account must be in good standing at the time such miles are credited to your Dream Account.
  • The collector is responsible for paying all taxes, fees and applicable surcharges at the time of booking.
  • There are no cancellations or refunds permitted on tickets once booked.

How is creditcardGenius accounting for the companion flight rebate?

Every feature a credit card has, whether good or bad, goes into our algorithm.

Because this companion flight rebate is a one time benefit, kind of like a sign-up bonus, we are treating it in the same way.

New cardholders are given 3,000 miles, and we feel like the average cardholder could earn an additional 3,000 miles through everyday spending on their card.

We thought it would be fair to assume that within the first year, an average cardholder could redeem their rewards for 2 medium haul flights (at 3,000 each) and get 3,000 of those miles back with the companion rebate.

However, there is no limit on the amount of AIR MILES you can have redeemed, so if you’ve been collection AIR MILES for a long time, now is the perfect time to cash them in and get two AIR MILES flights for the price of one.

That will increase the value of this sign up bonus to a maximum of 20,000 miles – that can easily be worth up to $3,500 if you’re flying economy to a remote city on the opposite side of the planet, like Auckland New Zealand in mid-December for example.

Related: How To Get Free Flights Using A Companion Voucher

The changes don’t end there

The isn’t the only card that BMO has decided to update.

Although the updates aren’t nearly as impressive, the and the both are changing for the better.

The BMO World Elite Mastercard

The which comes with:

  • 2 complimentary Mastercard Airport Experiences provided by LoungeKey passes,
  • a sign-up bonus of 35,000 BMO Rewards points,
  • rewards that can be redeemed a number of different ways, and
  • the same impressive insurance package that you get with the AIR MILES World Elite Mastercard.

Starting today, new cardholders will have the annual fee waived for the first year.

Now is the perfect time to try this card out to see if it is right for you.

The BMO AIR MILES Business Mastercard

The is the other card we wanted to let you know would be changing.

This card will now come with the same:

  • 3,000 mile sign-up bonus,
  • companion flight rebate, and will also
  • waive the annual fee for the first year…

Just like the .

Find out all the details here:

Updated BMO credit cards at a glance

There you have it.

With many cards being devalued and changed for the worse, it’s nice to finally have a card get better.

And while these cards already had some very redeeming qualities, we love that these cards are now significantly better.

Card Name New Notable Features Learn More
BMO AIR MILES World Elite Mastercard * 3,000 welcome bonus points
* Companion Flight rebate
* Annual fee is waived for the first year
Learn More
BMO World Elite Mastercard * Annual fee is waived for the first year Learn More
BMO AIR MILES Business Mastercard * Companion Flight rebate Learn More