Are you in search of a credit card that not only helps you earn on the purchases you make in your day to day life but also lets you travel the world BMO AIR MILES World Elite Mastercard is worth consideration. Picture being able to collect AIR MILES in the things that you buy in your daily lives and earn enough for your next travel. 

With this card it is a travel card for the modern day shrewd traveler, is a great all round card where you can actually get things you desire in life while accumulating points for your dream vacations. Whether you’re at the petrol station buying fuel for the car or you’re booking a posh fifth star hotel, every swipe gets you a step closer to the events that define your existence.

Main features of the BMO AIR MILES World Elite Mastercard

The BMO AIR MILES World Elite Mastercard is a credit card that is being offered by the Bank of Montreal, one of the biggest banks in Canada that constantly strives to meet its clients’ needs and integrate such diverse financial services into its line of products and services. 

The target audience for this card is clear: of course, it is for those people that like to get only the best in life and seek to optimize the potential of their money in an effort to get as much from the spent cash as possible.

Understanding the annual fee 

For its part, the BMO AIR MILES World Elite Mastercard costs $120 per year, a typical annual fee for a premium credit card. However, this is where this card is different and how the annual fee could be ‘reimbursed’ based on the operation of the card. 

In the first year of using the card, however, this fee is imposed, although at least they show some leniency by allowing you to use the card and sample all its features without using your own money for at least a year.

Deciphering credit limits

The credit limit in the BMO AIR MILES World Elite Mastercard card is not predetermined at a set amount for all its users. Rather, it is formulated out of factors that quantify the credit worthiness of the card holder and his ability to spend on this card. Your annual income, credit record, and the overall financial standing influences the limit given to you by BMO.

Advantages of the BMO AIR MILES World Elite Mastercard

• Triple Miles on Everyday Purchases: Get 3 AIR MILES for every $12 spent with participating AIR MILES sponsors to make many of your daily purchases as lucrative as can be.
• Double Miles at Grocery Stores: Save 2 AIR MILES for every $12 you spend on eligible groceries so that you can get your reward for the stuff you buy most often.
• Fuel Savings: Receive up to an 7 cents per litre discount on your purchase at Shell that saves you plenty of money in the long run.

Standout advantage

Far and away the best feature of the BMO AIR MILES World Elite Mastercard is the properly staggering rewards that you will earn on travel accommodation spends. Easy to understand; as the name suggests, this card provides members with 5X the AIR MILES on flights, hotels and car rentals, for anyone who likes to travel and wants to get more out of their bookings.

Addressing potential drawbacks

• High Annual Fee: The monthly fee is monthly, $10, which is still relatively high for some people, especially if they do not enclose themselves within the benefits that the card offers at $120 per year.
• Income Requirement: High income limit of the card may limit access to those with lower income levels.
• Limited AIR MILES Partners: However, the said rewards are only offered in partnership with a few AIR MILES partners, and this may be a drawback of the card to some holders.

Standout disadvantage

The only negative aspect of the BMO AIR MILES World Elite Mastercard is in terms of accessibility, where one has to meet a certain income level. Only the wealthiest population will be able to qualify for this card; minimum credit limit being $80000 individual income or $150000 household income per annum. 

Eligibility criteria 

The following are some of the stringent measures an applicant has to meet to qualify to be considered for the BMO AIR MILES World Elite Mastercard. First, one has to be at least making $80000 independently, or $150000 as a family. Also, the applicants must be of good credit standing, as evidenced by a high credit score that shows the applicant’s capacity to manage more credit responsibly.

Apart from these financial requirements, the applicants must be residents of Canada or applying as international students from Canada, and must be of the legal age in the province or territory they live in. The application also has a set of questions, which request personal and financial information for the purpose of qualification check.

How to apply for the BMO AIR MILES World Elite Mastercard

Looking to level up your credit card game and get more from your card? It is easy to apply for the BMO AIR MILES World Elite Mastercard and it only takes several steps. Regardless of whether you want to apply online, using the app or at a branch, BMO has established several ways to ensure that the application is as easy as can be.

Via website

All you need to do is to navigate to the BMO AIR MILES World Elite Mastercard and will be in a position of getting a clear view of the card, its functions, and on how to apply for this card. You will be required to enter your personal details in a secured online form you will be required to provide your name, address and employment details. After you have filled the form and provided all the necessary documents, BMO will take its credit check on you.

Through the mobile application

After you have downloaded the app, you will have to log into the BMO online banking to gain access to the app. If you are not a client active with the BMO, you are free to open an account through the application on your device. 

Once inside, go to the credit cards portfolio and choose the BMO AIR MILES World Elite Mastercard. The app will take you through the process of completing this application form, as with the website, it will require your personal and financial details.

Through the store/branch

In this one you can make an in-person application by physically going to the BMO branch of your choice and then asking for an application for the BMO AIR MILES World Elite Mastercard. All the related secured papers such as income proof, identification, and other financial documents will be required to produce.