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. Purchase Protection and Extended Warranty Insurance benefits provided by Allianz Global Risks US Insurance Company (Canadian Branch). 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. 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. 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. Some affiliated credit cards can double this when shopping at partners by effectively giving you the normal earn rate twice. The standard Air Mile earn rate is 1 mile per $20 spent at partner locations. 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. Rating methodology You receive an additional 10,000 points on your first anniversary, for a total of 40,000 bonus points. Access VIP lounges and get free travel coverage. The card offers a good combination of rewards points and travel insurance and is worth looking at. Get added protection – items bought with your card are automatically insured against theft or damage for 90 days from date of purchase. Existing BMO credit card cardholders who transfer into this product during the Offer Period are not eligible for this offer. Rewards summary First Year Welcome Bonus points 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. Get our highest earn rate on BMO Rewards points with this popular elite rewards credit card. The BMO Rewards System 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. 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. 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”). 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. It is often considered to be one of the best travel 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. 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. To the best of our knowledge, the BMO World Elite was the first World Elite card offering in Canada. You will only earn Base Rewards for purchases made at Other Merchants. Use of the Rewards calculator is for illustrative purposes only. Eligible cardholders are required to comply with the Conditions of Use available online at. Purchases exceeding $50,000 earn a base reward at 1 point per $1 spent, for a 0.71% return. 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). 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. Your email address will not be published. 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. 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. 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. 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. For inquires related to your BMO Rewards MasterCard Customer account: 1-800-263-2263 1-800-263-2263. Its no-fee alternative, the BMO Cash Back Mastercard, makes my list of the best no-fee cash back credit cards in Canada.. Values displayed as of July 10, 2020. 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. Orders that are paid for using voucher credits will not be applicable to the count of hot beverages orders. 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. Visit your branch; call the Customer Contact Centre at 1-800-263-2263, or visit bmo.com/creditcards for current rates and fees. Get valuable benefits and offers for digital everyday services from a variety of on-demand apps and subscription services. 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. The BMO World Elite Mastercard lets you collect a mountain of travel rewards points quickly. 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. 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. Featured Monthly Specials. 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”). You also enjoy; Even better, the income needed to apply for this card is $12,000. 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 … The BMO World Elite Mastercard has one of the best insurance packages out there. 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 2) Access to Boingo Wi-Fi for Mastercard cardholders and 1 million Wi-Fi hotspots around the world at no extra cost. 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.. 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 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. Is The BMO World Elite Mastercard For You? Check out this review of the Scotiabank Gold AMEX for more information. Offer does not apply to the Additional Card annual fee. While the BMO CashBack World Elite Mastercard is not considered a travel card, it does offer some exceptional travel benefits (in addition … The BMO World Elite Total Travel and Medical Protection package is a … Based on our rating results, the BMO Air Miles World Elite Mastercard gets 3.5 stars. 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). You earn 3 points for every $1 spent on travel, dining, and entertainment. This card is one of a few credit cards in Canada to waive the FX fee when you make purchases in a foreign currency. The income requirements for the BMO CashBack World Elite Mastercard is $80,000 for individual or $150,000 for household. The new BMO CashBack® World Elite®* MasterCard®* ushers in a new era of simplicity, transparency and value in Canadian credit cards. The calculation reflects 20% of monthly spend on eligible travel, dining and entertainment purchases and 80% of the spend on all other card purchases. 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. Complimentary membership in Mastercard Airport Experiences provided by LoungeKey, with exclusive VIP access,3 plus four annual complimentary passes ($140 value/year3). Cash advances include Balance Transfers, cash-like transactions and Mastercard cheques. 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. These redemptions will typically give you less than 0.71 cents in value with a few exceptions. Next, we have the best part about this card – the insurance. Their reward points add up very quickly, the priority pass is always a bonus, but most importantly, their customer service is always amazing. Then get … 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”). The BMO CashBack World Elite Mastercard offers some of the best cash back rewards available in BMO’s line of credit cards. That’s $200 right there. It comes with a $250 value sign-up bonus and has a $120 annual fee. More specifically, the travel insurance. Sign up now to join thousands of other visitors who receive our latest personal finance tips once a week. There is a combined annual limit of $50,000 for the reward earning rates stated above. 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 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 was easily one of the best BMO credit cards. This post may contain affiliate links. Calculation includes 30,000 welcome points when you spend $3,000 in first 3 months and 10,000 points anniversary bonus1. 3) 15% off admission to Cirque du Soleil shows in Canada and 20% off selected resident shows in Las Vegas. © 2021 Enoch Media Inc. All Rights Reserved. The four annual passes alone are worth $140 and do not include the membership that is also provided free of charge. Shop deals that let your BMO Reward points go even further. 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. For inquires related to your BMO Rewards Business MasterCard Customer account: 1 … The BMO World Elite Mastercard offers a host of perks, rewards, and comprehensive insurance coverage for added peace of mind. 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. After the first year, the annual fee will appear on your Credit Card statement twelve (12) months after the Credit Card open date. The BMO World Elite Mastercard is one of a few premium credit cards available on the list of BMO credit cards. 40,000 points are equivalent to at least $285 when redeemed for travel rewards through the BMO Rewards centre. When it comes to earning rewards, BMO has kept it simple and straightforward. 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. 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. For inquires related to your BMO World Elite MasterCard account: 1-866-991-4769 1-866-991-4769.