BMO Air Miles Mastercard Review 2023
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BMO Air Miles Mastercard
Rewards
- 3pts Earn 3 Air Miles for every $25 spent at participating AIR MILES partners.
- 2pts Earn 2 Air Miles for every $25 spent at eligible grocery stores.
- 1pt Earn 1 Air Mile for every $25 spent everywhere else.
- Welcome Offer Get 800 Air Miles Bonus Miles (equivalent to $80 in Air Miles cash) and a 0.99% introductory interest rate on balance transfers for 9 months with a 2% transfer fee. Terms and conditions apply.
- Annual Rewards $133 Learn how we calculate this.
- Annual Fee $0
- Minimum Income Required $15,000
Pros
- No annual fee
- Generous bonus offer containing miles and balance transfer offer promotion
- 0% interest financing installment plan on purchases of $100 or more
- Discounts at eligible car rentals
- A solid earn rate of 3x the Air Miles for every $25 spent at Air Miles partners
Cons
- While you can accumulate a significant number of Air Miles when shopping at participating retailers, your earnings drop to just 1 mile for every $25 spent on all other purchases
- Card does not feature a lot of extra perks
- Does not come with travel insurance
- Installment plan is not available to Quebec residents
The BMO Air Miles Mastercard is an attractive no annual fee card for Air Miles collectors looking to easily increase their reward earnings. It has a generous welcome bonus offer and extended warranty and purchase protection, as well as a no interest, low-fee monthly payment plan for purchases of $100 or more. However, rewards are quite limited at non-partner retailers, so unless you spend a lot at Air Miles partners, your miles might be slow to grow.
The BMO Air Miles Mastercard is a popular travel credit card in Canada that lets cardholders earn Air Miles reward miles on all their purchases. Reward miles can then be redeemed for a variety of travel and merchandise, or even for instant in-store or online cash rebates, making it a good option for those who love to travel or shop, as well as for those looking to give their Air Miles account a boost.
In this comprehensive review of the BMO Air Miles Mastercard, we do a deep dive into the card’s specifics so you can make an informed decision on whether it’s a valuable choice for your needs.
BMO Air Miles Mastercard: an overview
Launched in Canada in 1992, the Air Miles reward program in Canada is a popular loyalty program that gives members the opportunity to earn reward miles on eligible purchases. These Air Miles can be accumulated and redeemed for a wide range of rewards, including travel, merchandise, entertainment, gift cards, cash rewards and more.
The BMO Air Miles Mastercard offers a chance to earn Air Miles reward miles at participating Air Miles partners and eligible grocery stores, as well as on everyday purchases. The no-fee card also stands out among other BMO credit cards for its generous welcome bonus and balance transfer offer.
BMO Air Miles Mastercard rewards
Air Miles rewards are divided into two main categories: Dream Miles and Cash Miles. Air Miles Cash rewards can be used instantly in-store and online at select retailers, while Dream Miles can be redeemed for travel, merchandise, events, and even for charitable donations.
Additionally, if you’re a member of the Shell Go+ loyalty program and have linked your Air Miles collector number, you can opt in and pay using your BMO Air Miles Mastercard at participating Shell locations. By doing so, you can earn double the Air Miles on eligible purchases.
Just pull out your Air Miles collector card when shopping at a merchant where you can collect Air Miles and you’ll earn double the points; once with your credit card and again with your collector card.
Here’s a breakdown of the Air Miles reward miles you can earn:
- 3 Air Miles for every $25 spent at participating AIR MILES partners
- 2 Air Miles for every $25 spent on eligible grocery purchases
- 1 Air Mile for every $25 spent everywhere else
With a large network of more than 300 participating retailers, including major grocery stores, gas stations, and online retailers, the AIR MILES program provides Canadians with a flexible and easy way to earn valuable rewards while shopping.
Some participating AIR MILES partners include:
- Shell
- Budget rental cars
- Metro
- Amazon.ca
- Sephora
- DoorDash
- Staples
- Ticketmaster
BMO Air Miles Mastercard eligibility
To qualify for the BMO AIR MILES Mastercard, you must meet the following eligibility requirements:
- Have Canadian citizenship or be a permanent resident
- Not have declared bankruptcy in the last seven years
- Be the age of majority in your province or territory
- Meet the minimum annual income requirement of $15,000
Having a good credit score of at least 660+ is recommended as well.
BMO Air Miles Mastercard interest rates and fees
Fees
- Annual fee: $0
- Foreign exchange fee: 2.5%
- Extra card fee: $0
- Cash advance fee: 1% of the amount, or minimum of $5
Interest rates
- Purchases: 20.99%
- Cash advances: 22.99%
- Cash advances (for Quebec residents): 21.99%
BMO Air Miles Mastercard perks
On top of its AIR MILES reward earning opportunities, the BMO AIR MILES Mastercard has some attractive additional benefits.
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Discounts on rental cars
Enjoy discounts of up to 25% on rentals at select National Car Rental and Alamo Rent a Car branches.
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Save on entertainment
Receive a 15% discount on tickets for Cirque du Soleil shows in Canada. And get a 20% discount on tickets for resident shows in Las Vegas.
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Warranty and purchase protection
Enjoy extended warranty and purchase protection. Extended warranty insurance extends the original manufacturer’s warranty, up to one year. And purchase protection offers coverage for theft or damage to eligible items charged to the card for a period of up to 90 days from the date of purchase.
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Interest-free installment plans
Take advantage of the BMO PaySmart installment plan. For a small fee, you can break up your large credit card purchases of $100 or more into smaller, interest-free monthly payments.
Compare BMO Air Miles Mastercard alternatives
Our final thoughts
The BMO Air Miles Mastercard is most suitable for AIR MILES collectors. If that’s not you, there are more generous, no-fee credit cards out there that may include travel insurance.
For collectors, this card is a great choice, especially given the impressive sign-up bonus and solid accelerated earn rate when shopping at participating AIR MILES partners.
