Friday, April 17, 2015

BMO Air Miles (World) MasterCard Review

Currently BMO provides 2 Air Miles credit cards in the market:
  • BMO Air Miles MasterCard: No annual fee. It offers 1 Air Mile for every $20 spent. You can earn 500 bonus Air Miles once you get approved for this card. You can get 1.25X AIR MILES reward miles at all Shell locations in Canada, and 1.5X reward miles with up to 25% off rentals at National Car Rental and Alamo Rent A Car locations worldwide.
  • BMO Air Miles World MasterCard: $99 annual fee.  you can earn 1 reward mile for every $15 in card purchases and 25% flight Air Miles discount when you book through or by calling 1-888-247-6453. This is the only credit card with this offer. Minimum personal ($60,000) or household ($100,000) incomes needed to qualify

From my point of view, this BMO Air Miles World MasterCard is not very attractive. At 1 Air Miles per $15, you'd need to spend more than $15,000 to get 1000 Air Miles. But with 95 Air Miles = $10 ration, this is worth around $100 (so, just pay off the annual fee of the card). If you want to redeem Air Miles for flight ticket, you need to do a lot of homework to get good values (the Air Miles program is more complicated than Aeroplan or RBC Avion program).

And we get 2 recent updates on the BMO Air Miles World MasterCard:
  1. In May 2015, the 25% flight discount will only be available on lights in North America.
  2. Also in May 2015, only the first $7,000 in monthly purchases will earn Air Miles.
Maybe it is time for people to cancel the BMO Air Miles credit cards.