The BMO AIR MILES®† Mastercard®* is a popular choice among Canadian consumers who value the benefits of earning AIR MILES on everyday purchases. With no annual fee, this credit card enables cardholders to accumulate miles through routine spending, allowing them to redeem for travel, merchandise, and various experiences.
With an attractive welcome offer of 800 AIR MILES, worth approximately $80 in purchases, and a 0.99% introductory interest rate on balance transfers for the first nine months (with a 2% transfer fee), the BMO AIR MILES Mastercard stands out for both its affordability and rewards potential.
Qualification requirements
To qualify for the BMO AIR MILES Mastercard, applicants typically need to be Canadian residents with a good to excellent credit score. BMO requires applicants to be the age of majority in their province or territory and meet specific income and creditworthiness criteria. While the income threshold for this card is relatively accessible, approval is based on an assessment of the applicant’s overall financial situation.
Benefits
One of the main attractions of the BMO AIR MILES Mastercard is the potential to earn AIR MILES through various everyday purchases. Cardholders can earn 3 Miles for every $25 spent at participating AIR MILES Partners, such as grocery stores, wholesale clubs, and gas stations.
Furthermore, they receive 2 Miles per $25 at other eligible locations and 1 Mile per $25 spent elsewhere, including online shopping. This flexible rewards structure appeals to a wide range of users who make purchases in different categories.
Additionally, BMO AIR MILES cardholders can save on fuel at Shell stations, receiving up to seven cents off per liter and doubling their Shell Go+ Miles on eligible purchases. Beyond fuel savings, the card offers discounts on car rentals through partnerships with National, Alamo, and Enterprise, which can be particularly advantageous for frequent travelers.
For entertainment lovers, the BMO AIR MILES Mastercard provides a 20% discount on Cirque du Soleil shows in Canada and a 15% discount for shows in Las Vegas, making it an appealing choice for those looking to enrich their entertainment experiences.
Pros
The BMO AIR MILES Mastercard has numerous advantages that appeal to various types of users.
- No annual fee: This card’s $0 annual fee makes it accessible to many.
- Generous welcome bonus: 800 AIR MILES as a welcome offer can provide cardholders with immediate value.
- Fuel discounts: Discounts at Shell stations and the ability to double Miles on fuel purchases.
- Flexible rewards: AIR MILES can be redeemed for a variety of experiences and purchases, from travel to shopping.
- Special discounts on entertainment and travel: Including Cirque du Soleil discounts and savings on car rentals.
- Financial tools and insights: Access to financial management features, including CreditView, to track credit scores.
- Enhanced security features: Digital tools for locking/unlocking cards and managing accounts.
Cons
Despite its benefits, the BMO AIR MILES Mastercard also has some drawbacks to consider.
- Limited earning categories: Although the card offers 3 Miles per $25 with AIR MILES Partners, other purchases earn fewer Miles.
- Foreign transaction fees: The card has standard foreign transaction fees, making it less attractive for international travel.
- Balance transfer fee: While the introductory balance transfer rate is low, it still includes a 2% transfer fee.
- No travel insurance: This card lacks travel insurance coverage, which may be a disadvantage for frequent travelers.
- Limited redemption options: Although the AIR MILES program offers various redemption options, some users might prefer cash back or more flexible travel points.
How to apply
Applying for the BMO AIR MILES Mastercard is a straightforward process that can be completed online via the BMO website. Applicants should have personal identification, proof of Canadian residency, and financial details ready, such as employment information and income level.
The online application takes only a few minutes, and BMO often provides a decision within 60 seconds. Once approved, new cardholders can begin enjoying their benefits, including the welcome offer of 800 AIR MILES, almost immediately.
Is the card worth it after all?
The BMO AIR MILES Mastercard is an excellent choice for those who frequently shop at AIR MILES Partners or wish to earn rewards without incurring an annual fee. Its welcome bonus, fuel discounts, and partner-specific rewards make it particularly beneficial for individuals who spend regularly in eligible categories.
However, the limited earning rate on non-partner purchases and the lack of travel insurance may be less appealing to some users. The card is especially worthwhile for individuals who are looking for a no-fee option and have a specific interest in accumulating AIR MILES, rather than traditional cashback or travel points.
For frequent travelers, the card’s absence of travel insurance may be a drawback, and they might consider pairing it with a separate travel insurance plan or a credit card that offers comprehensive travel coverage. Overall, the BMO AIR MILES Mastercard is well-suited for those who value the AIR MILES program, benefit from fuel savings, and don’t want to pay an annual fee.
Conclusion
In conclusion, the BMO AIR MILES Mastercard provides an accessible and valuable way to earn AIR MILES through everyday purchases. With no annual fee, a rewarding welcome offer, and numerous partner-based benefits, it’s ideal for those seeking to maximize AIR MILES rewards without additional costs. The card also offers discounts on fuel, entertainment, and car rentals, making it versatile for both daily use and special occasions.
However, the absence of travel insurance and limited earning categories may prompt some users to seek additional cards to cover their needs fully. The BMO AIR MILES Mastercard is a solid choice for those who can maximize its benefits through eligible purchases and partnerships, ultimately creating a cost-effective way to collect more AIR MILES and enjoy rewards.
