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BMO Air Miles World Elite Business Mastercard

Last updated: November 15, 2021
  • 3,000 Air Miles
  • $648 First-year value
Signup bonus:
3,000 Air Miles upon spending $5,000 in the first three months
Annual fee:
$0 the first year, then $149
Earning rate:
4 Air Miles per $12 spent at participating partners
1 Air Miles per $12 spent on all other purchases
Perks & benefits:
Virtual healthcare with Maple
Insurance:
Strong

The BMO Air Miles World Elite Business Mastercard is the best credit card for business owners who are dedicated to the Air Miles program.

With a sizeable welcome bonus and a long-running first-year fee waiver, this card could be a useful option for any business owner looking to pick up some extra Air Miles to supplement their next trip.

Bonuses & Fees

As a welcome bonus, this card offers 3,000 Air Miles upon spending $5,000 within the first 90 days. That’s a fairly strong welcome bonus that’s on par with the personal version of the card.

The card has an annual fee of $149, which is waived for the first year. You can give the card a spin at no cost before deciding whether it’s a good long-term fit for your business needs.

The fee for adding authorized users is $50. You can add up to 22 secondary cardholders on your account.

Earning Rewards

The BMO Air Miles World Elite Business Mastercard has a two-tier earning structure. You’ll earn:

  • 4 Air Miles for every $12 spent at participating partners
  • 1 Air Mile for every $12 spent on all other purchases

The base earning rate is fairly competitive for a business credit card, and is on par with the personal BMO Air Miles World Elite. The 4x bonus at Air Miles partners is a nice extra bonus.

Having said that, unless you’re specifically aiming to collect Air Miles with your business expenses, there are much more valuable points currencies towards which you could put your business spending instead.

Additionally, you’ll automatically be enrolled for offers on Mastercard Easy Savings, good for 1–25% cash back rebates at select merchants, on top of your regular rewards.

Redeeming Rewards

Air Miles are redeemed in two categories: Cash Rewards and Dream Rewards. You can set your preference on the Air Miles website in any ratio (e.g., 95% Cash Rewards, 5% Dream Rewards), but keep in mind while you can change this later, the miles cannot be reallocated.

Cash Rewards can be redeemed at a rate of 95 Air Miles = $10 (10.5 cents per point) at participating merchants, including the Sobeys and Metro grocery chains.

Dream Rewards are best redeemed for travel, including short-haul flights, hotels, car rentals, and attraction tickets. You should always aim to redeem Dream Rewards for at least 10.5 cents per point against the cash price, as otherwise you would’ve been better off collecting Cash Rewards instead.

Perks & Benefits

Cardholders will get five free virtual care visits per year with Maple, an online health platform. Maple’s Canadian-licensed doctors can diagnose and treat many conditions, including reproductive health, mental health, and other specialties. They can also write prescriptions and sick notes for you. You can connect on-demand 24/7 or with an appointment, via text, voice, or video.

Insurance Coverage

The BMO Air Miles World Elite Business Mastercard provides fairly comprehensive of travel insurance, with the exception of emergency medical insurance. There’s the usual coverage for trip cancellation, trip interruption, flight delay, lost or stolen baggage, and more.

As far as car rentals go, this card covers up to an MSRP of $65,000, with $1,000 of personal effects insurance in case your belongings are stolen or damaged in a rental vehicle.

Like BMO’s other World Elite cards, the insurance on this card kicks in if you charge the “full or partial cost” of the trip to the card, which makes it a suitable choice for travel insurance on award tickets if you book a flight with points and charge the taxes and fees to the card. 

This card will also double the manufacturer’s warranty for purchases made with the card, up to one additional year.

Apply Now

This card is available for any business, whether you run a sole proprietorship or a corporation. You may need to show various types of business registration documents and proof of income depending on the structure of your enterprise.

Consider supporting Prince of Travel by applying for the card via our affiliate link below.

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