BMO Air Miles World Elite Mastercard Getting A Face Lift

BMO has been on something of a tear lately, upgrading their credit card lineup.

Back in November, it was their no fee Air Miles cards getting a face lift, along with the introduction of their new eclipse cards.

And then last week, we went over upcoming changes to the BMO CashBack World Elite Mastercard.

And now, changes are in store for our top rated Air Miles credit card.

BMO Air Miles World Elite Mastercard changes

Another BMO credit card is going to see some changes – the BMO AIR MILES^®† World Elite^®* Mastercard^®*.

This time around, there’s some good and bad to what’s upcoming (but mostly good).

These changes will be taking effect in May 2021.

New, updated earn rates

The BMO Air Miles World Elite Mastercard will completely change how you earn Air Miles. Currently you earn 1 mile for every $10 spent on all purchases.

Starting in May, you’ll earn:

• 3 miles per $12 spent at participating Air Miles partners, and
• 1 mile per $12 spent on all other purchases.

First, what are these participating Air Miles partners? It’s not every partner, but it covers most of the major participants.

You can see more details here, but here are a few of them:

• Sobeys,
• Safeway,
• Shell,
• Irving,
• Lawtons, and
• Staples.

Are these better? This largely depends on where you shop. Based on our value of 20.2 cents per mile (which includes the 15% discount on Air Miles flights in North America), your return is 2.02%, on everything.

But now? It’s lower at 1.68% on most purchases. But shop at those Air Miles partners, and that increases to a stellar 5.05%.

We believe it’s largely better, but what about you? Let us know in the comments.

Mastercard Airport Experiences

The airport lounge access is also going to change, and this is definitely not for the better.

The free membership to Mastercard Airport Experiences provided by LoungeKey is still in place, however you will no longer receive 2 free passes. Each visit will cost US$32.

Updated interest rates

Finally, a change is coming to the cash advance and purchase interest rates. They’ll be increasing 1%, to 20.99%.

The cash advance fee is also changing. Currently, you pay a flat $5 for a cash advance. It will be changing to 1% of the cash advance, with a minimum fee of $5.

Your turn

Another week, another change to a credit card.

Are the changes to the BMO Air Miles World Elite Mastercard better or worse?

If you have the card, are you more likely to keep it, or find a suitable replacement with our creditcardGenius Quiz?

Let us know in the comments below.