The BMO AIR MILES World Elite Mastercard is a travel card that allows its holders to earn Air Miles while they shop. This card has a great earning rate of 1 Mile for every $10 in credit card purchases, plus a welcome bonus of up to 3,000 Miles (1,000 after your first purchase and 2,000 more if you spend $3,000 on the card with in your first 3 months of membership). The card comes at an annual fee of $120, but that fee is waived for your first year. Cardholders also benefit from a comprehensive suite of travel insurance, as well as purchase protection and extended warranty, and a variety of other perks like complimentary lounge passes and access to a 24/7 concierge. All in all, this is a great card for travellers who want the most extensive insurance coverage, airport lounge passes and to earn travel rewards more quickly than they would with other cards. However, this card’s annual fee and eligibility requirements (Minimum $80,000 individual or $150,000 household annual income) mean it is definitely not for everyone.

As per our rating system, this card scored 20/25 on rewards, 16/25 on interest rates and balance transfers, 21/25 on perks and insurance, and 22/25 on annual fees. Therefore, the total smart score of this card is 79/100.