BMO World Elite Increased Offer – Ends Today

Travelling abroad? Get the HomeTrust Preferred Visa - the only Canadian credit card with no foreign transaction fees AND no annual fees. This can save you up to a 2.5% fee on purchases internationally!

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The BMO World Elite Mastercard currently has an increased offer, advertised as a $500 value in the first year. This ends tonight, February 28th.

BMO World Elite Mastercard

BMO World Elite Mastercard

Offer Overview

The BMO World Elite Mastercard has a welcome bonus of 35,000 points after spending $3,000 in the first three months. These points would be in the BMO Rewards program, redeemable for travel at a fixed rate. This is equivalent to $250 in travel bookings, made through the reward program’s travel agency.

This isn’t as flexible as cards such as the Scotiabank Passport Visa Infinite, which allow you to book your own travel and use points as a credit. However, flights are generally the same price across most ticketing channels with the same mileage earning rates.

source: BMO

source: BMO

As well, there is a $100 statement credit available when you charge $100 on travel related purchases within the first six months onto your card. This is as good as cash since it covers any transactions with “airlines, hotels/resorts, cruise lines, passenger railways, travel agencies and tour operators.”

This is the highest publicly available offer I’ve seen for this card. My contacts at BMO have told me that the offer will be decreasing tomorrow, so the time to apply is now. When applying, BMO uses Equifax to verify eligibility. You can pick up your Equifax credit report and free credit score from Borrowell for free, if you haven’t already.

Insurance Coverage on Award Tickets

The other reason to apply for the BMO World Elite Mastercard is their unique travel insurance benefit. Premium credit cards usually offer coverage if certain issues arise during your trip, like a flight cancellation. However, many products require the full amount of the booking to be charged onto your card. This is a major issue when redeeming points.

The BMO World Elite Mastercard is unlike any other credit card in Canada. Under the eligibility clause for these benefits, the cardholder agreement is as follows:

Coverage applies only when You charge the full or partial cost of Your Trip to the Primary or Family Cardholder’s Mastercard prior to departure.

This should cover you on award tickets, provided other eligibility requirements are met. This clause also does not invalidate claims if you use other payment methods in addition to your BMO Mastercard, like a gift voucher. For most readers who primarily travel on award tickets, this benefit should provide huge value.

source: BMO

source: BMO

This clause is relevant to the following benefits:

  • Flight Delay* – Up to $500 per account, per trip
  • Baggage Insurance* – Up to $750 per person, $2,000 per account
  • Car Rental Benefits* – Including Collision Damage Waivers

*Please consult the BMO Cardholder Agreement for full details. While we attempt to ensure all information is correct, we make no guarantees about the accuracy of site content and disclaim liability for any errors and omissions. When accessing Canadian Kilometers, you agree to these Terms of Use.

Keep in mind you can permanently keep this card free; The BMO Premium Plan Checking account waives the annual fee on this Mastercard. Finally, BMO often has a cash bonus when signing up for this bank account. Last year, I picked up $300 during one of these promotions.

Conclusion

There are multiple reasons to get the BMO World Elite Mastercard, including the improved bonus ending tonight. I plan to get this card shortly, and have already suggested this card to most of my friends and family. With the welcome offer, there are few reasons not to try out this card for the first year free of charge.

Application Link: BMO World Elie Mastercard

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Comments

  1. thanks, jeff. i had this card for a year a few years back with a similar offer. just got the wife approved yesterday. we will probably keep this card for a while since they have added the chequing account incentive to waive the future annual fees. after the signup bonus has been achieved within the next 3 months, i doubt we will use this card for anything except the free lounge access. the hsbc world elite continues to be the industry leader with its 31 day travel medical AND $100 annual travel credit AND cdw AND no foreign transaction fees. well worth the $149 annual fee. to me the hsbc is the ultimate travel card for those who fly only a few times per year but for months at a time. yes there is the amex platinum that is tempting to get but only for a year.

  2. It is 10 pm EST on 2/28, and it looks like BMO already pulled the offer ($100 travel credit is gone)…..what the…..I just got home and was going to apply for this card before midnight, but lost interest after seeing the lower offer.

  3. Thanks for the update – I was planning to wait until the last minute as we are in NZ.

    Used your link and even though we are not an home the card was approved instantly.

    @jeff Arychuk. Was unaware of the HSBC card benefits even though a premium account holder. Too many cards perhaps . Thanks

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