The BMO AIR MILES World Elite Mastercard has one of the best AIR MILES earn rates of any AIR MILES credit card out there right now. Coupled with the multitude of perks it offers, it makes for the best AIR MILES credit card on the market.

Here's what makes this BMO credit card special.

Earning rewards with the BMO AIR MILES World Elite Mastercard

As its name implies, the BMO AIR MILES World Elite Mastercard earns AIR MILES on every purchase.

Welcome bonus

Right off the bat, this BMO Mastercard rewards you with 9,000 welcome bonus miles, which is enough for 1 medium-haul flight, after spending $20,000 in the first year, and an additional $1,000 at wholesale clubs and grocery stores.

Plus, this BMO Mastercard is waiving the annual fee for the first year, letting you try out the card to see if it works for you.

Earning AIR MILES rewards on every purchase

With every purchase you make, you’ll earn 1 mile for every $12 spent when most other cards offer either 1 mile per $20 spent or 1 mile per $15 spent.

Plus you'll earn 3x the miles when shopping at participating AIR MILES partners and 2x the miles on eligible grocery purchases and at wholesale clubs (hello Costco!).

Redeeming AIR MILES

AIR MILES is one of the largest rewards programs. And as such, you've got many ways to redeem your miles.

Here's the summary of what's available.

Redeeming for travel is by far the best way to use your points.

But if travel isn't in your plans, you've got other options at your disposal, including redeeming for 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.

5 benefits to the BMO AIR MILES World Elite Mastercard

Beyond the rewards, there are 5 benefits you'll want to know about.

1. 25% discount on one AIR MILES reward flights per year

The BMO AIR MILES World Elite Mastercard will help your miles go farther.

Once per year, you can save on up to 25% of the cost of 1 AIR MILES flight booking per year, up to a maximum of 750 miles saved.

This bonus can help stretch your miles bank and make what you earn go further:

2. Membership to Mastercard Travel Pass

For some airport lounge access, you're covered. You'll get a membership to Mastercard Travel Pass, but you'll have to pay US$32 for each visit.

3. BMO travel insurance

This card gives you the best insurance package of any AIR MILES credit card out there.

If insurance is a priority of yours, this card comes with 14 out of 17 types of possible types of insurance including: Trip Cancellation and Trip Interruption, 15 days of Emergency Medical, Personal Effects insurance...and that’s just the tip of the iceberg.

4. World Elite Mastercard perks

The BMO AIR MILES World Elite Mastercard comes with standard World Elite Mastercard perks, like:

• Priceless Cities,
• World Mastercard Experiences, and
• 24/7 Concierge.

You can learn more about the World Elite program here.

5. Automatic AIR MILES Onyx status

An excellent perk of all BMO AIR MILES Mastercards is you get automatic status with AIR MILES.

In this case, the World Elite card offers automatic Onyx status, which comes with a list of benefits to save Miles.

2 drawbacks to the BMO AIR MILES World Elite Mastercard

Are there a few drawbacks? Unfortunately, there are.

Here are 2 things you'll want to consider.

1. High income requirements

As a World Elite Mastercard, this card has high income requirements to meet in order to be eligible:

• $80,000 personal, or
• $150,000 household.

These requirements alone can put the card out of reach of many.

2. Not the greatest rewards compared to other credit cards

While it offers plenty of AIR MILES on purchases, there are credit cards out there that offer either more rewards, or more flexible rewards with similar value.

So if getting the most rewards is what you care about, this card may not be a great fit.

Want to know more about this card? Our full blog review covers every nook and cranny.

A no fee AIR MILES Mastercard alternative

Want to collect AIR MILES for no annual fee? The BMO AIR MILES^®† Mastercard^®* is another BMO Mastercard that offers AIR MILES on everyday purchases.

Here's how they stack up, side-by-side.

	BMO AIR MILES World Elite Mastercard	BMO AIR MILES Mastercard
Welcome Bonus	$150 GeniusCash + Up to 9,000 bonus miles, first year free (terms)	$20 GeniusCash + Up to 1,200 2,500 bonus miles (terms)
Earn Rates	* 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	* 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
Insurance Coverages	14 types	2 types
Special Features	* 25% discount on 1 reward flight per year * Airport lounge access * World Elite benefits	* 0.99% interest for 9 months on balance transfers
Annual Fee	$120	$0
Income Requirements	* Personal: $80,000 * Household: $150,000	None

It shouldn't be a surprise that the card with an annual fee generally offers a lot more than one without.

But the BMO AIR MILES Mastercard does have one advantage.

If you have any lingering credit card debt, the no fee card is offering one of our best balance transfer promotions, with a low rate of 0.99% for 9 months, an easy way to help manage credit card debt.

And of course, it has no annual fee, but also but also no income requirements.

Bottom line

The BMO AIR MILES World Elite Mastercard is a well rounded credit card that will help make the most of all the AIR MILES you earn, plus comes with top benefits on the side, for a reasonable annual fee of $120.

FAQ

What does the BMO AIR MILES World Elite Mastercard earn for rewards?

The BMO AIR MILES World Elite Mastercard earns 1 Air Mile for every $12 spent on all purchases. You'll get a boosted earn rate with double the AIR MILES on eligible grocery purchases and triple the return on purchases with participating AIR MILES partners.

Does the BMO AIR MILES World Elite Mastercard come with benefits?

Yes, the BMO AIR MILES World Elite Mastercard comes with benefits, including:

• 25% discount on 2 AIR MILES reward flights per year,
• Access to Mastercard Travel Pass, and
• World Elite Mastercard benefits.

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

The BMO AIR MILES World Elite Mastercard currently offers a welcome bonus of 9,000 AIR MILES after spending $20,000 in the first year, and an additional $1,000 at wholesale clubs and grocery stores.