Start getting travel rewards with the BMO AIR MILES WE Card now
via BMO secure application
in free travel after $3,000 in 3 months
The BMO AIR MILES World Elite is a great card to earn AIR MILES.
AIR MILES is a pretty well-known, but quite misused. Like ALL rewards programs, avoid any use other than for travel to maximize their value, this is the most basic rule. But even when used as simple Cash Rewards (fixed-value points), AIR MILES can still be worthwhile.
The Welcome Bonus is very interesting and you get a 15% discount on AIR MILES flight rewards in North America (which are often the best sweet spot of the AIR MILES award chart).
The card also offers free VIP access with 2 airport lounge passes, thanks to the complimentary membership in Mastercard Airport Experiences (also known as LoungeKey). This benefit will disappear in 2022.
The BMO AIR MILES World Elite is accepted at Costco, and has great insurance coverage (including for flights booked with points from other programs).
The earn rate is an excellent 3 Miles per $12 at participating AIR MILES Reward partners and a less exciting base earn rate of 1 Mile per $12 everywhere else.
Finally, you get free access to over 1 million Wi-Fi hotspots around the world.
Card offer ends October 31st, 2021.
BMO is not responsible for maintaining the content on this site. Please click on the Get this card link for the most up to date information.
Welcome Bonus of 2,000 AIR MILES
≈ $240 (estimated value of 12 ¢/pt)
Earning of 325 points on the $3,000 minimum spend
≈ $39 ($2.5k at base rate, $0.5k at bonus rate)
= $0 (1st year free promo)
Flytrippers Valuation of Welcome Bonus
≈ $279 in free travel
(or $244 minimum as fixed-value Cash Rewards)
+ all points earned with your regular purchases
After the ≈$279 Welcome Bonus…
Earn rate at Flytrippers valuation (≈ 12¢ per AIR MILES mile):
Earn rate at fixed value (= 10.5¢ per AIR MILES mile):
AIR MILES are hybrid points: they can be used as variable-value points or as fixed-value points.
Variable-value uses offer more potential value, while fixed-value uses are a lot simpler.
As fixed-value Cash Rewards, your 2,325 AIR MILES are worth $244.
As variable-value Dream Rewards, your 2,325 AIR MILES is the equivalent of 1 and a half short-haul roundtrips, which often represents value of a lot more than $244 (especially with the 15% discount). Alternatively, the 2,325 AIR MILES can be worth more than $244 on certain car rentals.
In short, the best sweet spot of the AIR MILES Award Chart is often for short-haul off-peak flights, but car rentals can also offer 12¢-15¢ in value per point.
That can be over 40% more value than the fixed-value redemptions that give you a guaranteed return of just 10.5¢ per point as AIR MILES Cash Rewards.
More details about AIR MILES coming soon.
Medical travel insurance (15 days; under age 65)
Trip cancelation insurance
Trip interruption/delay insurance
Car rental insurance
Flight delay insurance ($500; 6hr minimum)
Baggage loss/delay insurance
Hotel burglary insurance
Purchase protection (90 days)
Extended warranty (1 year)
The card is one of the rare ones to cover flights booked with any rewards program (Aeroplan, Avios, etc.) as long as you charge the taxes to the card.
via BMO secure application
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