BMO Air Miles World Elite Business Mastercard Review

Imagine kickstarting your business’s rewards journey with 3,000 AIR MILES. The BMO Air Miles World Elite Business Mastercard offers just that with a generous welcome bonus, along with ongoing rewards for your everyday business expenses.

This card helps you get more from your business spending, turning everyday transactions into tangible rewards.

Quick Takeaways

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  The BMO AIR MILES World Elite Business Mastercard offers 1 AIR MILE per $12 spent and 4 AIR MILES at partners, maximizing reward potential.

• New cardholders can earn up to 3,000 AIR MILES with a $5,000 spending requirement within the first three months.
• Extensive travel insurance is included, covering trip interruptions and medical emergencies, enhancing travel safety for businesses.
• The annual fee of $149 is waived for the first year, with a break-even spending requirement of $17,880 to offset the fee.
• Compared to competitors, the average annual rewards of $308.63 may be lower, appealing mainly to frequent AIR MILES shoppers.

Rewards Program

Earning rewards with the BMO AIR MILES World Elite Business Mastercard is straightforward and lucrative. You’ll earn 1 AIR MILE for every $12 spent on everyday purchases, but the real benefit comes when you shop at participating AIR MILES partners. There, you can rack up 4 AIR MILES for every $12 spent, maximizing your rewards potential.

As a new cardholder, you can kickstart your rewards journey with a welcome bonus of up to 3,000 AIR MILES. To earn this bonus, you’ll need to spend $5,000 within the first three months. This tiered structure encourages you to strategically choose where you spend, ensuring you get the most out of your purchases.

Best of all, AIR MILES don’t expire as long as your account remains active, giving you flexibility in how and when you redeem them. You can use your earned miles for various rewards, including flights and merchandise.

On average, cardholders can expect to earn around $308.63 in rewards annually, taking into account the $149 annual fee, which is waived for the first year. This makes the BMO AIR MILES World Elite Business Mastercard a solid choice for frequent AIR MILES shoppers.

Annual Fees and Rates

The card comes with an annual fee of $149, which is waived for the first year.

To break even on that fee, you’ll need to earn at least 1,490 AIR MILES annually, translating to about $17,880 in spending based on standard earning rates.

As for interest rates, be aware that purchases carry a 19.99% rate, while cash advances are set at 22.99%. If you plan to add authorized user cards, there’s an additional fee, but this can help you accumulate AIR MILES more quickly.

If you need to transfer a balance, there’s a 3% fee, though the introductory interest rate for the first nine months is 0.00%, which could be beneficial.

Comparison With Competitors

This card has its strengths, but understanding how it stacks up against competitors can help you make an informed decision.

Application Process

To start, you’ll need to provide proof of business ownership and personal identification. This guarantees your application is processed smoothly.

As a business owner in Canada, you must verify your business status during the application. Once approved, you can immediately begin earning AIR MILES through your spending.

You’ll also have access to a welcome bonus of up to 3,000 AIR MILES if you meet the spending requirement of $5,000 within the first three months.

Additionally, you can order up to 22 extra cards for your employees, which can help you accumulate points faster. However, keep in mind that fees may apply for these additional cards.

To break even on the $149 annual fee, you’ll need to spend a minimum of $17,880 annually, based on the standard earning rate of 1 AIR MILE per $12 spent.

Tips for Maximizing Rewards

Once you’ve successfully applied for your BMO AIR MILES World Elite Business Mastercard, it’s time to focus on maximizing your rewards. Here are some tips to help you earn the most AIR MILES possible.

1. Shop at AIR MILES partner locations. You’ll earn 4 Miles for every $12 spent, which can greatly boost your point totals.
2. Make sure to take advantage of the welcome bonus. Spend at least $5,000 within the first three months to earn an additional 3,000 AIR MILES.
3. Keep track of your annual spending. Aim for the $17,880 threshold to break even on the $149 annual fee, guaranteeing your rewards outweigh the cost.
4. Use the virtual healthcare access through Maple. This can save you on medical expenses, allowing more budget for earning AIR MILES.
5. Redeem your AIR MILES wisely, targeting travel-related expenses to achieve at least 10.5 cents per point with Dream Rewards.

Here’s a quick summary: