BMO Travel Insurance. Purchase Protection and Extended Warranty Insurance benefits provided by Allianz Global Risks US Insurance Company (Canadian Branch). You can earn BMO Rewards points with either one of two personal BMO credit cards: the premium BMO World Elite Mastercard or the no-fee, entry-level BMO Rewards Mastercard. On the up side, it has an excellent rewards earn rate, a nice welcome bonus, loads of travel perks, and a generous insurance package.. On the down side, this card has a high annual fee, extremely high income requirements, and a 2.5% foreign exchange fee.. Its no-fee alternative, the BMO Cash Back Mastercard, makes my list of the best no-fee cash back credit cards in Canada.. If you are an Air Miles collector and/or a frequent flyer, you will love the fact this card offers a 2,000 Air Miles welcome bonus and waives the $120 annual fee in the first year. Calculation includes 30,000 welcome points when you spend $3,000 in first 3 months and 10,000 points anniversary bonus1. To start off, you’ll get an earn rate of 10% on the first $2,000 spent in the first 3 months after signing up. Apply now. BMO CashBack World Elite sign-up bonus. He has a master's degree in Finance and Investment Management from the University of Aberdeen Business School and has a passion for helping others win with their finances. Get valuable benefits and offers for digital everyday services from a variety of on-demand apps and subscription services. Save up to 60% on your next hotel booking with Priceline on BMO Rewards. These redemptions will typically give you less than 0.71 cents in value with a few exceptions. What people love is that the sign up bonus is typically generous and it has a strong earn rate. BMO Rewards points are worth 0.7 cents per point (cpp) when redeemed against the cost of travel booked via the BMO Rewards online portal (at the rate of 14,000 points = $100). Offer ends January 4 th, 2021 Save the cost of buying optional extended warranty insurance on your next purchase by paying with your BMO credit card. The BMO World Elite Mastercard is one of a few premium credit cards available on the list of BMO credit cards. Apply now! Use of the Rewards calculator is for illustrative purposes only. This offer is not available to current or former BMO World Elite Mastercard cardholders who reinstate a closed account or open a new account during the Offer Period. Rating methodology The card comes with a welcome bonus of 30,000 points, waives the $150 annual fee in the first year, and has a remarkable travel insurance package. You earn two points for every dollar charged to the card; 5,000 points is equivalent to $50. The World Elite tag is Mastercard's premium card offering much like Visa's Infinite/Signature branding and is a step up from the World Mastercard. Ongoing interest rates, interest-free grace period, annual fees and all other applicable fees are subject to change. Discover a world of Mastercard Travel Rewards cash rebate offers at traveloffers.mastercard.com. Boingo services provided by Boingo Wireless, Inc. See. This offer may be withdrawn or changed without notice. After the first year, the annual fee will appear on your Credit Card statement twelve (12) months after the Credit Card open date. Rewards summary First Year Welcome Bonus points This card is one of a few credit cards in Canada to waive the FX fee when you make purchases in a foreign currency. Take advantage of Transat’s expertise in packages and cruises. The BMO World Elite Mastercard lets you collect a mountain of travel rewards points quickly. The card offers a good combination of rewards points and travel insurance and is worth looking at. 40,000 points are equivalent to at least $285 when redeemed for travel rewards through the BMO Rewards centre. That’s $200 right there. 3) 15% off admission to Cirque du Soleil shows in Canada and 20% off selected resident shows in Las Vegas. Similar to the Scotiabank Passport Visa Infinite, this card also waives the FX fee (a 2.50% fee saving) when you spend money abroad. Your email address will not be published. Membersite for Podium Clients. Explore Travel open in new tab. Read our detailed review about the BMO Rewards program. Although this card waives the annual fee in the first year, you will need to shell out $150 per year in subsequent years. To qualify for the BMO World Elite, you need to have a minimum personal income of $80,000 or $150,000 for a household. BMO Air Miles World Elite Mastercard rewards. a) BMO World Elite Mastercard applications must be received between July 10, 2020 and October 31, 2021 (the “Offer Period”) to be eligible for this offer. Insurance benefits provided by Allianz Global Risks US Insurance Company (Canadian Branch) except Common Carrier Accidental Death and Dismemberment Insurance provided by Chubb Insurance Company of Canada. This site uses Akismet to reduce spam. For inquires related to your BMO Rewards MasterCard Customer account: 1-800-263-2263 1-800-263-2263. His writing has been featured or quoted in The Globe and Mail, Toronto Star, MSN Money, Financial Post, Winnipeg Free Press, Wealthsimple and many other personal finance publications. BMO World Elite Mastercard Travel Insurance, Downsides of the BMO World Elite Mastercard. Designed by Elegant Themes | Powered by WordPress. The BMO World Elite Total Travel and Medical Protection package is a … The BMO Rewards System BMO CashBack ® World Elite ®* Mastercard ®* Welcome offer: Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first year. You also earn 2 points per $1 spent on everything else… for a 1.43% earn rate. It is often considered to be one of the best travel credit cards in Canada. When it comes to earning rewards, BMO has kept it simple and straightforward. Some merchants may sell the same or similar products/services as the Applicable Merchants or are separate merchants who are located on the premises of the Applicable Merchants, but are classified by Mastercard in another manner (“Other Merchants”). The last 4 digits of your BMO Mastercard number is Your policy number with respect to any such individual insurance. Purchases exceeding $50,000 earn a base reward at 1 point per $1 spent, for a 0.71% return. If you collect Air Miles, you know the little guys are worth so much since they’re so hard to earn. Check out all the offers by visiting mastercard.ca/world, Shop, dine and relax with our partners to unlock Mastercard Travel Rewards cashback offers when you travel and shop with your BMO World Elite Mastercard outside of Canada. The card comes with a welcome bonus of 30,000 points, waives the $150 annual fee in the first year, and has a remarkable travel insurance package. and Card Value Calculator You can use this rewards calculator to calculate how many points, miles, or cash back you can earn based on your spend per category. Get added protection – items bought with your card are automatically insured against theft or damage for 90 days from date of purchase. Learn how your comment data is processed. Welcome offer: Get 35,000 points and the $150 annual fee waived in the first year 1a,1b ($250 travel value 1b booked on bmorewards.com + $150 Value 1a). Visit your branch; call the Customer Contact Centre at 1-800-263-2263, or visit bmo.com/creditcards for current rates and fees. BMO ® World Elite ®* Mastercard ®* Get a response in under 60 seconds! Get up to $540 in value in your first year! The BMO AIR MILES World Elite Mastercard is a solid choice for those looking to earn AIR MILES Reward Miles at a steady rate and pick up some additional travel benefits such as lounge access, entertainment discounts, and travel insurance/protections. The Scotiabank Gold American Express offers up to a 5% return on your grocery, dining, and entertainment spending; plus 3% on gas, transit, and streaming services. To the best of our knowledge, the BMO World Elite was the first World Elite card offering in Canada. BMO Investments. You and your family are well covered should an emergency or unexpected event disrupt your trip, for car rental collision damage and out-of-country medical expenses up to $2 million. Featured Monthly Specials. Mastercard Airport Experiences provided by LoungeKey (“MCAE”) is a worldwide program run by LoungeKey Ltd. When you get the BMO World Elite Mastercard you’ll obtain 35,000 BMO Rewards points (equivalent to $250) after spending $3,000 with the card during the first three months. Subject to terms and conditions , including limitations, exclusions and other important information contained in the BMO World Elite Total Travel and Medical Protection Certificate of Insurance, which is sent to new cardholders.Out-of-Province/Out-of-Country Emergency Medical benefits are to cardholders under the age of 65. If you are hunting for a travel card that surpasses the BMO World Elite Mastercard in overall benefits, here are two premium card options to consider: The Scotiabank Passport Visa Infinite offers a $250 value sign-up bonus when you spend $1,000 in your first three months. You can easily redeem BMO Rewards points for: The BMO World Elite Mastercard offers one of the most comprehensive travel insurance packages in Canada. While the BMO CashBack World Elite Mastercard is not considered a travel card, it does offer some exceptional travel benefits (in addition … I recently redeemed my reward points for the first time to book a flight using the BMO Rewards online site. Sign up now to join thousands of other visitors who receive our latest personal finance tips once a week. You also enjoy; Even better, the income needed to apply for this card is $12,000. Enoch Omololu is a personal finance expert and a veterinarian. The insurance described in this Certificate/Policy of Insurance is for eligible BMO Rewards World Elite Mastercard Primary Cardholders More Travel. Shop deals that let your BMO Reward points go even further. The BMO World Elite Mastercard offers a host of perks, rewards, and comprehensive insurance coverage for added peace of mind. The BMO World Elite Mastercard has one of the best insurance packages out there. Three points are earned for every dollar spent on travel, dining, and entertainment purchases. Historically, the BMO World Elite has usually offered a signup bonus at the 35,000-point level, so the current offer is quite strong at the moment. The four annual passes alone are worth $140 and do not include the membership that is also provided free of charge. Check out this review of the Scotiabank Gold AMEX for more information. It is often considered to be one of the best travel credit cards in Canada. WARNING ABOUT BMO WORLD ELITE MASTERCARD: I am making this post to share my VERY negative experience using my BMO World Elite Mastercard reward points and to warn those of you who are considering this credit card. Sunshine Escapes. Unlimited-trips-per-year coverage for trips up to 21 days). Access VIP lounges and get free travel coverage. Orders that are paid for using voucher credits will not be applicable to the count of hot beverages orders. It's their flagship travel rewards credit cards and comes with great benefits including lounge access, travel insurance, concierge service, extended warranty and more. 30,000 BMO Rewards welcome bonus points will be applied to your BMO Rewards Collector Account after you spend a minimum of $3,000 (less refunds and excluding cash advances, cash-like transactions, interest charges, fees, credit or debit adjustments) within the first three (3) months from the account open date. The BMO World Elite Mastercard was easily one of the best BMO credit cards. The BMO World Elite™* MasterCard®* accrues up to 3 points per $1 spent on eligible purchases and grants cardholders a welcome bonus of 40,000 points, far higher than the welcome bonuses offered by competing travel rewards cards like the American Express Gold Rewards or … This coverage doubles the original manufacturer's warranty period up to a maximum of one additional year. 14 different types of travel and purchase insurance which includes rare coverage for: Next, we have the best part about this card – the insurance. You earn a 2% return on grocery, dining, entertainment, and daily transportation spending and 1% on everything else. You will only earn Base Rewards for purchases made at Other Merchants. and Card Value Calculator You can use this rewards calculator to calculate how many points, miles, or cash back you can earn based on your spend per category. For inquires related to your BMO World Elite MasterCard account: 1-866-991-4769 1-866-991-4769. When you redeem points for a flight you are receiving a 2.1% return, which is incredible value for a rewards card. Get 3 BMO Rewards points for every $1 spent on eligible travel, dining and entertainment purchases.2a,2b, Get 2 points for every $1 spent everywhere else.2b, Access over 1 million Wi-Fi hotspots around the world – all at no added cost, and no added fees or roaming charges.7. To start, you receive a sign-up bonus of 30,000 BMO Rewards points when you spend up to $3,000 in your first 3 months. BMO Rewards Points can also be used for other redemptions including investments, gift cards, cash/statement credit, and more. The BMO World Elite Mastercard requires a minimum individual income of $80,000 or household income of $150,000. BMO Rewards Mastercard If you want to earn points, but you’re not interested in paying an annual fee to do so, the BMO Rewards Mastercard may be right for you. It comes with a $250 value sign-up bonus and has a $120 annual fee. Get up to $575 in value in your first year! Explore Packages and Cruises open in new tab. Required fields are marked *. Please read our, 11 Legit Online Jobs for Students in Canada. Canada’s Best Low Interest Credit Cards in 2020, The Best Business Credit Cards in Canada for 2020, Retirement Planning in Canada: A Complete Guide, A Wealthsimple TFSA Case Study: How To Invest For Retirement Using a Robo-Advisor, $150 annual fee is waived in the first year, Earn 3 points per $1 spent on travel, dining, and entertainment, Complimentary membership in Mastercard Airport Experiences provided by LoungeKey plus four annual complimentary passes, Purchase protection and extended warranty, Travel: including flights, hotels, car rentals and vacation packages (up to 2.14% return), Investments: invest $100 in your BMO investment account in exchange for 15,000 points (0.67% return), Merchandise: purchase gift cards and merchandise on bmo.rewardsonline.ca (point value varies), Cash credit: get $50 for every 15,000 points (0.33% return), Emergency medical protection up to $2 million for up to 21 days if you are under 65 years, Trip cancellation up to $2,500 per insured person and a maximum of $5,000, Trip interruption/trip delay insurance coverage up to a maximum of $2,000, Flight delay coverage with reimbursement up to a maximum of $500 in the event you are delayed for more than six hours, Lost or stolen baggage up to $750 per person and a maximum of $2,000 per trip, Car rental insurance for up to 48 consecutive days and an MSRP of $65,000, Car rental accidental death or dismemberment benefit up to $200,000, Car rental personal effects coverage up to $1,000, Purchase protection coverage against theft or damage for 90 days following the date of purchase, Extended warranty for up to one extra year, Complimentary Priority Pass membership plus 6 free passes to VIP airport lounges ($379 value per year), Comprehensive travel insurance benefits including travel emergency medical for up to 25 days, Minimum personal income of $60,000 to apply. This BMO World Elite Mastercard review covers its benefits, downsides, what your points are worth, and everything else you need to know. The BMO World Elite Mastercard is one of a few premium credit cards available on the list of BMO credit cards. 1 BMO Rewards points will not expire as long as the BMO World Elite Mastercard card account (referred to in this paragraph as the “Account”) remains open and in good standing, except as described in the section of the BMO Rewards Terms & Conditions, which deals with the program termination. And, you don’t have to pay the annual fee ($150) for the first year. Then get … Values displayed as of July 10, 2020. Get our highest earn rate on BMO Rewards points with this popular elite rewards credit card. The BMO World Elite – which made our list of the best travel credit cards in Canada for 2020 – will earn you BMO Rewards points the fastest. More specifically, the travel insurance. I've had a BMO World Elite MC for a few years now and I would highly recommend them to anyone. © 2021 Enoch Media Inc. All Rights Reserved. You earn 3 points for every $1 spent on travel, dining, and entertainment. If you exceed $50,000 in combined annual purchases, you will continue to earn the Base Rewards. Existing BMO credit card cardholders who transfer into this product during the Offer Period are not eligible for this offer. The income requirements for the BMO CashBack World Elite Mastercard is $80,000 for individual or $150,000 for household. BMO CashBack World Elite Mastercard earn rates. 30,000 BMO Rewards welcome bonus points will be credited to your Collector Account within three (3) business days following the qualifying $3,000 spend. Based on our rating results, the BMO Air Miles World Elite Mastercard gets 3.5 stars. The standard Air Mile earn rate is 1 mile per $20 spent at partner locations. Your email address will not be published. Eligible cardholders are required to comply with the Conditions of Use available online at. This post may contain affiliate links. Each of these cards rank highly in their categories here on MapleMoney, it’s just a matter of what credit card is right for your rewards goals. Complimentary membership in Mastercard Airport Experiences provided by LoungeKey, with exclusive VIP access,3 plus four annual complimentary passes ($140 value/year3). Considering that 1 BMO Rewards point is worth 0.71 cents, the reward rate on these three categories of spending is roughly 2.14% when redeemed for travel. The calculation reflects 20% of monthly spend on eligible travel, dining and entertainment purchases and 80% of the spend on all other card purchases. You receive an additional 10,000 points on your first anniversary, for a total of 40,000 bonus points. Offer does not apply to the Additional Card annual fee. The primary cardholder annual fee of $150 will be rebated in the first year and will appear as a fee and a credit on the primary cardholders first statement. Posted by Enoch Omololu | Updated Oct 15, 2020. If you are an occasional traveller, the annual fee could be prohibitive. Welcome offer: Get up to 40,000 points and the $150 annual fee waived in the first year 1a,1b ($285 travel value1b booked on bmorewards.com + $150 Value1a). 2) Access to Boingo Wi-Fi for Mastercard cardholders and 1 million Wi-Fi hotspots around the world at no extra cost. You can redeem your BMO Rewards Points towards investments with BMO. If you can qualify and don’t mind a relatively steep annual fee, this is a solid choice for people who travel frequently and who would like to have access to all of those sweet World Elite perks. You also get: The Scotiabank Passport Visa Infinite comes with a $139 annual fee, and you can learn more about the card in this review. The BMO World Elite MasterCard is one of the top travel rewards cards in Canada and is definitely worth considering if you’re looking to maximize the value of your BMO Rewards points. Terms and conditions apply. BMO World Elite Mastercard rewards and benefits review Oct, 2020 Welcome offer: Get 35,000 welcome points after you spend $3,000 in first 3 months.1 Get 3 BMO Rewards points for every $1 spent on eligible travel, dining and entertainment purchases.9A, 9B The new BMO CashBack® World Elite®* MasterCard®* ushers in a new era of simplicity, transparency and value in Canadian credit cards. BMO offers three different World Elite Mastercard credit cards that might work well for you, depending on what you are looking for in a rewards program. a) You will earn 3 BMO Rewards points for every $1 in eligible travel, dining and entertainment purchases, up to $50,000 annually (January to December statement cycle period). Here’s a summary of what you get: Cardholders of the BMO World Elite card also enjoy the following VIP perks: 1) Complimentary membership in Mastercard Airport Experiences provided by LoungeKey and four free passes to VIP airport lounges in over 120 countries. The BMO Air Miles World Elite Mastercard is a best-in-class credit card for earning Air Miles rewards in Canada. BMO Rewards World Elite Mastercard - minimuim $80,000 income; BMO eclipse Visa Infinite Privilege Card - minimum $150,000 income; They now have four levels of cards and as you can see all four cards kind of fit their own bill with the only real overlap being the Visa Infinite and World Elite Mastercards. The 3 BMO Rewards points includes the base earn rate of 2 BMO Rewards points for every $1 in card purchases (“Base Rewards”) and the bonus of 1 BMO Rewards point for every $1 in eligible travel, dining and entertainment purchases (“Bonus Rewards”). Cash advances include Balance Transfers, cash-like transactions and Mastercard cheques. This benefit will be available to all cardholders of a BMO World Elite Mastercard (“eligible cardholders”). For inquires related to your BMO Rewards Business MasterCard Customer account: 1 … Some affiliated credit cards can double this when shopping at partners by effectively giving you the normal earn rate twice. Receive an additional 10,000 BMO Rewards points anniversary bonus twelve (12) months after the Credit Card account open date if your account remains in good standing. You will also receive our FREE e-Book! Ritual Rewards points will not be issued to users who do not use a consumer World or World Elite Mastercard credit card issued in Canada as the form of payment (“Eligible Mastercard”). There is a combined annual limit of $50,000 for the reward earning rates stated above. The BMO Rewards Mastercard is a simple, low cost points credit card, while the BMO World Elite Mastercard will take your point earning power to the next level. Their reward points add up very quickly, the priority pass is always a bonus, but most importantly, their customer service is always amazing. The BMO CashBack World Elite Mastercard offers some of the best cash back rewards available in BMO’s line of credit cards. Is The BMO World Elite Mastercard For You? To earn Bonus Rewards, your purchases must be made at merchants that are classified in the Mastercard network as: airlines, car rental agencies, hotels/resorts, cruise lines, passenger railways, tour operators, timeshares, travel agencies and tour operators, dining: eating places, restaurants, drinking places, fast food restaurants and entertainment including motion picture theatres, theatrical producers, ticket agencies, bands, orchestras and miscellaneous entertainers, tourist attractions and exhibits, amusement parks, carnivals, circuses, aquariums, dolphinariums, zoos and seaquariums (“Applicable Merchants”). If you cancel your card within ninety (90) days of account opening, the welcome bonus will be cancelled. Save up to 30% all month long on small appliances from Delonghi.