If you're tired of missing out on miles, the BMO AIR MILES Mastercard could be the answer. For no annual fee, you can be earning AIR MILES on all your purchases.

Here's what this card has to offer.

Earning AIR MILES with the BMO AIR MILES Mastercard

So what will you be earning for AIR MILES? For the frequent shopper at AIR MILES partners, you'll be earning quite a few miles on your purchases.

BMO AIR MILES Mastercard welcome bonus

Let's start, however, with the welcome bonus. And for a no fee card, it doesn't disappoint.

You can earn 1,200 2,500 bonus miles after spending $1,500 in the first 110 days, and an additional $450 at wholesale clubs and grocery stores. This gives you a superb start for your next travel plans or big savings in store with cash miles.

Redeem for car rentals, and you're looking at a value of up to $317.5.

Earning AIR MILES on purchases

As to your everyday purchases, you're looking at:

• 1 Mile per $25 spent on all purchases
• 3x the Miles for every $25 at participating Air Miles partners
• 2x the Miles for every $25 spent at any eligible grocery, liquor, and wholesale stores

Overall, that's an average rate of return of 0.65% on your purchases. Shopping at participating AIR MILES partners will really bring in the AIR MILES.

But what are these participating partners? You can see more partners here, but here are some of the major ones:

• Shell,
• Irving, and
• Kent.

And no matter where you shop, you'll be earning at least 1 mile for every $25 spent.

Redeeming AIR MILES

As one of the largest rewards programs in Canada, you have many options when it comes to redeeming your AIR MILES.

Here's a summary of your redemption options.

Like many rewards programs, redeeming for travel is your best bet.

But there's more beyond just redeeming for travel, including discounts in store with select AIR MILES partners. Just note that if this is your redemption of choice, you'll have to ensure you're collecting cash miles instead of dream miles.

3 benefits to the BMO AIR MILES Mastercard

On top of the rewards, there are a couple of benefits this card brings to the table.

1. One of Canada's best balance transfer offers

Have existing credit card debt? This card has a promotional balance transfer offer for you to consider.

You'll get a low balance transfer rate of 0.99% for the first 9 months, with a transfer fee of 2%. Taking advantage of this offer will help save on credit card debt, since it's about 18% lower than the standard credit card interest rate.

Just remember 2 things – don't make any new purchases after you've made your transfer, and you can't transfer balances to this card from other BMO cards. (You can learn more about balance transfer rules here.)

2. Discounts on car rentals

It's a small thing, but you can save on car rentals with this card.

You can save up to 25% on rentals with either National or Alamo, saving a little bit of money on your holiday plans.

3. Automatic Gold status

Want to get AIR MILES Gold or Onyx status? One perk of all BMO AIR MILES Mastercards is they offer automatic AIR MILES status.

With this BMO AIR MILES Mastercard, you'll get automatic Gold status. It will make it easier to unlock a set of AIR MILES perks.

2 drawbacks to the BMO AIR MILES Mastercard

Since nothing is perfect, here are 2 things to keep in mind with this BMO Mastercard.

1. Poor base earn rate

You'll earn a lot of AIR MILES at participating AIR MILES partners, but everywhere else you shop you're only earning 1 mile for every $25 spent.

With our flight value of 17.2 cents, that's only a return of 0.69%.on these purchases. But since it's a no fee card, it's easy to pair it with another no fee card to increase your rewards.

2. Lacklustre insurance

This falls under the "you get what you pay for" category. And in this case, you only get the most basic of credit card insurance – extended warranty and purchase protection. There are other no fee cards that offer more in this regard.

A premium AIR MILES Mastercard alternative to consider

If you want even more from your AIR MILES credit card, then consider taking a look at the BMO AIR MILES^®† World Elite^®* Mastercard^®*, which includes more perks and insurance.

Here's the comparison between the 2.

	BMO AIR MILES Mastercard	BMO AIR MILES World Elite Mastercard
Welcome Bonus	$20 GeniusCash + Up to 1,200 2,500 bonus miles (terms)	$150 GeniusCash + Up to 9,000 bonus miles, first year free (terms)
Earn Rates	* 1 Mile per $25 spent on all purchases * 3x the Miles for every $25 at participating Air Miles partners * 2x the Miles for every $25 spent at any eligible grocery, liquor, and wholesale stores	* 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 Coverages	2 types	14 types
Special Features	* 0.99% interest for 9 on balance transfers	* 25% discount on reward flights * Airport lounge access * World Elite benefits
Annual Fee	$0	$120, first year free
Income Requirements	* None	* Personal: $80,000 * Household: $150,000

For an annual fee of $120, you're getting quite a bit more out of your credit card.

For starters, there's a 25% discount on the number of miles you need for 1 reward flight per year. This alone can be worth more than the annual fee, depending on how many miles you earn in a year and how often you redeem them.

But the no fee card does have a couple of advantages. First, it has no annual fee, saving you some money if the extra perks aren't worth much to you.

If you have some sticky credit card debt, the promotional balance transfer is a great way to help tackle that debt. This offer isn't available on the World Elite version of the card.

And finally, the income requirements. The World Elite card has big income requirements – either $80,000 personal or $150,000 household. These alone can put the card out of reach for many people. The no fee card on the other hand, has no income requirements.

The final word

If you want to collect AIR MILES for no annual fee, this card is as good as it gets. But if you don't shop frequently at AIR MILES partners, there may be other no fee cards better suited to you.

Have this card already? Leave a user review below, and let others know what you think of it.

FAQ

What does the BMO AIR MILES Mastercard earn for rewards?

The BMO AIR MILES Mastercard earns 1 Air Mile for every $25 spent, which is tripled when shopping at participating AIR MILES partners. You'll also earn 2x the Miles for every $25 spent at eligible grocery stores.

What is the current welcome bonus of the BMO AIR MILES Mastercard?

Currently you'll earn 1,200 2,500 bonus AIR MILES after spending $1,500 in the first 110 days, and an additional $450 at wholesale clubs and grocery stores.

What is the annual fee and income requirements of the BMO AIR MILES Mastercard?

The BMO AIR MILES Mastercard has no annual fee, and no income requirements.