BMO World Elite Mastercard
Annual Fee
$150.00*
Interest Rate
19.99%
Balance Transfer
22.99%
Cash Advance
22.99%
Credit Score
Excellent
Rewards
2.00%*
- Welcome offer: Get 35,000 points and the $150 annual fee waived in the first year.
- Complimentary membership in Mastercard Airport Experiences provided by LoungeKey, with exclusive VIP access, plus four annual complimentary passes.
- Get 3 BMO Rewards points for every $1 spent on eligible travel, dining and entertainment purchases.
- Get 2 points for every $1 spent everywhere else.
- Enjoy exclusive access to dream travel – flights, hotels, car rentals, cruises and vacation packages. Use your BMO Rewards points to cover all flight charges, including taxes, when you book through BMO Rewards. And you can book any seat, on any airline, at any time.
- You can use your BMO Rewards points to pay down your credit card balance, for a wide selection of popular gift cards, merchandise and more, or even invest more for your future by redeeming BMO Rewards points for a contribution into a BMO Investment account.
- Extended Warranty: this coverage doubles the original manufacturer’s warranty period up to a maximum of one additional year.
- Purchase Protection: items bought with your card are automatically insured against theft or damage for 90 days from date of purchase.
- BMO World Elite Total Travel and Medical Protection: 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. Unlimited-trips-per-year coverage for trips up to 21 days).
- Minimum $80,000 (individual) or
- $150,000 (household) annual income.
Summary
The BMO World Elite Mastercard allows its holders to quickly earn BMO Rewards Points to redeem for a reward from a wide selection, or to pay down their credit card balance. This card comes with a welcome offer of 35,000 points and the $150 fee is waived in the first year. Get $540 in value in your first year!
Our Review
BMO World Elite Mastercard
The BMO World Elite Mastercard allows its holders to quickly earn BMO Rewards Points to redeem from a wide selection of rewards, or to pay down their credit card balance. This card comes with a welcome bonus of 35,000 points and the fee is waived in the first year, however the fee for subsequent years is a relatively steep $150. With this card you may earn 3 points per dollar spent on eligible travel, dining and entertainment purchases, and 2 points per dollar spent on anything else. Add to that one of the most extensive suites of travel insurance coverage of any credit card, as well as complimentary membership in Mastercard Airport Experiences provided by LoungeKey, plus 4 complimentary annual passes, and this card offers, making this card a good option for frequent travellers.
As per our rating system, this card scored 19/25 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 78/100.
Pros
- The first year of card membership comes with no annual fee ($150 annually thereafter).
- Welcome offer: Get 35,000 points if you spend $3,000 within the first 3 months of card membership.
- Complimentary membership in Mastercard Airport Experiences provided by LoungeKey, with exclusive VIP access, plus four annual complimentary passes.
- Get 3 BMO Rewards points for every $1 spent on eligible travel, dining and entertainment purchases.
- Get 2 points for every $1 spent everywhere else.
- Enjoy exclusive access to dream travel – flights, hotels, car rentals, cruises and vacation packages. Use your BMO Rewards points to cover all flight charges, including taxes, when you book through BMO Rewards. And you can book any seat, on any airline, at any time.
- You can use your BMO Rewards points in a wide variety of ways. to pay down your credit card balance, for a wide selection of popular gift cards, merchandise and more, or even invest more for your future by redeeming BMO Rewards points for a contribution into a BMO Investment account.
- Enjoy extensive travel insurance, purchase protection and extended warranty.
Cons
- A relatively high annual fee of $150.
- The earnings rate of 3 BMO Rewards points per dollar has a spend cap of $50,000 annually.
- You must have a minimum $80,000 individual or $150,000 household annual income to be eligible for this card.