BMO AIR MILES®† World Elite®* Mastercard®*

Everything you need to know about the BMO AIR MILES®† World Elite* Mastercard®, the flagship AIR MILES®† co-branded credit card issued by BMO.

Updated on: 2024-05-03

Signup bonus:

$120 Annual fee

Annual fee:

$120 (rebated in the first year)†

Annual interest rates:

20.99% purchases
23.99% balance transfer
23.99% cash advances (21.99% in Quebec)

Earning rate:

3 AIR MILES®† per $12 spent at participating AIR MILES Reward Partners†
2 AIR MILES®† per $12 spent on eligible purchases at grocery stores, wholesale clubs, and alcohol retailers†
1 AIR MILE®† per $12 spent on all other eligible purchases†

Perks & benefits:

DragonPass membership†
25% Flight Discount on one eligible AIR MILES®† flight redemption every calendar year†



The BMO AIR MILES®† World Elite®* Mastercard®* is a must-have card for avid AIR MILES®† collectors, as it offers a competitive earning structure along with perks such as a 25% discount on a flight redemption worldwide redeemed through the AIR MILES®† portal.

Bonuses & Fees

Currently, the BMO AIR MILES®† World Elite®* Mastercard®* offers a welcome bonus of 2,000 AIR MILES®† upon spending $3,000 in the first three months.† The annual fee, which is normally $120, is rebated for the first year as part of this offer.† Supplementary cards on the BMO AIR MILES®† World Elite®* Mastercard®* can be added for a fee of $50 per card.†

Earning Rewards

The BMO AIR MILES®† World Elite®* Mastercard®* allows you to earn 1 AIR MILE®† per $12 spent on any eligible purchases on the card.† You'll also get 3x AIR MILES®† per $12 spent at participating AIR MILES Reward Partners.† At all eligible grocery stores, wholesale clubs, and alcohol retailers, you'll earn 2 AIR MILES®† per $12 spent.† If you’re looking to top-up your AIR MILES®† balance to redeem them for something, it can make sense to put some of your spending on this card.† Another good occasion to use the card would be during an AIR MILES promotion, when you might get bonus AIR MILES®† simply for using your co-branded credit card to make purchases.†

Redeeming Rewards

Compared to other loyalty programs, it can be relatively tough to plan an AIR MILES®† redemption properly due to the lack of a formal award chart, varying prices, and constantly changing availability. There are two categories you can choose your AIR MILES®† to go in to, and these cannot be retroactively changed: Cash Miles and Dream Miles. Cash Rewards are typically redeemed at the point of sale in participating stores, but can also be redeemed online for vouchers. The value is fixed at 95 miles = $10; however, certain stores often have special redemption offers where they give you bonus AIR MILES®† simply for redeeming your existing ones. In the Dream category, AIR MILES®† allows redemptions for a few different travel options, including flights, hotels, and car rentals. The absolute best redemption value is for round-trip last-minute flights within North America, where the cash price will be ridiculously high and the number of miles required remains fairly reasonable, allowing you to extract extra value.

Perks & Benefits

First off, the card offers a DragonPass membership, which allows you to access the airport lounge and relax before your flight at the cost of $32 (USD) per lounge visit.

The main attraction of the card, however, is the AIR MILES®†-related benefits. You’ll start off with a 25% discount when redeeming AIR MILES®† for flights.† The discount applies once per calendar year, and has a maximum of 750 AIR MILES®† as a discount.†

Furthermore, you'll enjoy automatic AIR MILES®† Onyx status as a cardholder.†

You’ll also have access to additional AIR MILES®† offers, which can be helpful during AIR MILES®†promotions. Overall, with all these AIR MILES®†-related benefits on offer, this is the must-have card if you’re an AIR MILES®† aficionado.

Insurance Coverage

The BMO AIR MILES®† World Elite®* Mastercard®* offers a good insurance package, including:

  • Emergency medical insurance for the first 15 days on out-of-province trips, up to $5 million†

  • Trip cancellation insurance for up to $1,500 per insured person and $5,000 per trip†

  • Trip interruption insurance for up to $2,000 per insured person and $10,000 per trip†
  • Flight delay benefits of up to $500 per trip for reasonable expenses incurred on a flight delay of four hours or more†

  • Car rental insurance and Collision Damage Waiver benefits, which allow you to save on the insurance fees that car rental companies usually charge†

† Terms and conditions apply. BMO is not responsible for maintaining the content on this site. Please click on the Apply Now link for the most up to date information.

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