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BMO Air Miles Mastercard No Fee Rewards Review

BMO® AIR MILES®† MasterCard®* Review

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3.3

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Welcome Offer Ends Nov 30, 2024

Limited time offer: Get 1,500 AIR MILES Bonus Miles!* That’s enough for $150 towards purchases with AIR MILES Cash*

3x the Miles for every $25 spent at participating AIR MILES Partners

2x the Miles for every $25 spent at any eligible grocery store*

2x the Miles for every $25 spent at any eligible wholesale clubs, membership-based retailers and alcohol retailers

1 Mile for every $25 that you spend with your credit card everywhere else

20.99% Purchase APR

22.99% Balance Transfer Rate 0.99% introductory interest rate for 9 months (fee applies)*

22.99% Cash Advance APR 21.99% for Quebec residents

$0 Annual Fee $0 for supplementary card

Good Recommended Credit Score

$15,000 Required Annual Personal Income

3.3

BMO® AIR MILES®† MasterCard®* Review

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Quick overview of the BMO AIR MILES MasterCard

Looking for that elusive rewards credit card with a hefty sign-up bonus and no annual fee? We got you covered. Want that $0  annual fee credit card to come with awesome rewards opportunities? How about access to Canada’s largest loyalty program with over 10 million active members, and one of the country’s richest earn rates? 

Even if you have another “favourite” credit card in your wallet already, why not give one of Canada’s most popular credit cards and loyalty programs a try?

Who's the BMO AIR MILES MasterCard for?

The BMO® AIR MILES®† MasterCard®* is for the financially savvy traveler! With this credit card, you can double dip getting miles with your credit card AND your Air Miles collector card to earn miles doubly fast*. And you can get bonus miles with your card at retailers!

Pros and cons

Pros

Pros

  • No annual fee with a substantial welcome offer

  • Earn Air Miles with both credit and collector cards

  • Potential for upwards of an exceptional 2.04% travel earn rate

  • Additional Benefits include discounts, insurance, and a low balance transfer rate

Cons

Cons

  • A 2% fee applies to balance transfers.

  • Limited redemption options

  • Variable redemption values may vary based on last-minute short-haul flights

  • Its specific rewards program is best for those interested in Air Miles loyalty program

BMO AIR MILES MasterCard welcome bonus

The card comes with a lucrative welcome bonus: Limited time offer: Get 1,500 AIR MILES Bonus Miles!* That’s enough for $150 towards purchases with AIR MILES Cash*

How to earn AIR MILES with the BMO AIR MILES MasterCard

  • Earn accelerated miles: Get 3x the Miles for every $25 spent at participating AIR MILES Partners and 2x the Miles for every $25 spent at any eligible grocery store*.
  • Earn double rewards: Use your BMO® AIR MILES®† MasterCard®* and AIR MILES Collector Card at an AIR MILES sponsor to earn reward miles from both.
  • Earn on everything: Earn 1 Air Miles rewards for every $25 spent on the credit card.

How to redeem AIR MILES with the BMO AIR MILES MasterCard

Ready to turn your Air Miles into jet-setting adventures? Score flights to your ultimate getaway using your stash of Air Miles. The amount of Air Miles needed will depend on the destination you're flying to. You can also convert Air Miles to Cash Miles. Let's do the math: 95 Air Miles = $10, which can be used towards your purchases at participating AIR MILES partner locations. Learn more about redeeming AIR MILES.

BMO AIR MILES MasterCard key benefits

Here are some of the additional perks that help this card stand-out from the pack:

  • Bonus Air Miles welcome bonus: Limited time offer: Get 1,500 AIR MILES Bonus Miles!* That’s enough for $150 towards purchases with AIR MILES Cash*
  • $0 annual fee: There is no annual fee on this card – ever
  • Free additional cards: With a $0 annual fee, you can get as many authorized users on your card as you’d like to help you accumulate Air Miles even faster!
  • Discounts: Car rental discounts*
  • Insurance: Double manufacturer’s warranty up to 1 year and automatically insure items against theft or damage for 90 days from date of purchase with your card*
  • Low rate on balance transfers: Low 0.99% introductory interest rate on Balance Transfers for 9 months, 2% fee applies to balance amounts transferred.

BMO AIR MILES MasterCard insurance coverage

Here are the insurance benefits you get with this card:

  • Purchase protection: You are insured for eligible items charged to your BMO® AIR MILES®† MasterCard®* for 90 days from the date of purchase in the event of accidental physical damage or theft.
  • Extended warranty: Any product you purchase through your BMO credit card will automatically get an additional 1 year of warranty.

What people have to say about this card

...airmiles are pretty handy if you already shop at places where you can redeem them for cash

/u/beekeeper1981

As this Reddit user points out, if you shop frequently at AIR MILES partners, you can use your AIR MILES as Cash Miles to pay for your purchases, but we recommend using AIR MILES for travel redemption to get the best value.

How the BMO AIR MILES MasterCard compares

BMO AIR MILES Mastercard vs. BMO AIR MILES World Elite Mastercard

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

Apply now

3.3

3,000 miles

Welcome offer

Excellent

Suggested credit score

Limited time offer: Get 3,000 AIR MILES Bonus Miles! * That's enough for $310 towards purchases with AIR MILES Cash!* Plus, get the $120 annual fee waived for your first anniversary

Expires

Nov 30, 2024

Apply now

Pros

  • Offers the largest Air Miles sign-up bonus on the market with a waived annual fee for the first anniversary*

  • High earn rates of up to 3x the Miles on eligible purchases

  • Exclusive travel discounts like 25% off one worldwide AIR MILES flight redemption annually

  • Airport lounge access through complimentary Mastercard Travel Pass membership

  • Comprehensive insurance package which covers medical, trip, flight delay, lost luggage and more

  • Additional Perks include BMO Concierge, digital subscriptions, and cash back promotions

Cons

  • An $80,000 personal/$150,000 household income is needed to qualify

  • Ideal for AIR MILES loyalists, may not suit those with a casual approach

  • The fixed redemption value for flights may not appeal to everyone

  • Optimal value only when frequently shopping at AIR MILES partners

Eligibility

Recommended Credit Score

Excellent

Required Annual Personal Income

$80,000

Required Annual Household Income

$150,000

Pros

  • Offers the largest Air Miles sign-up bonus on the market with a waived annual fee for the first anniversary*

  • High earn rates of up to 3x the Miles on eligible purchases

  • Exclusive travel discounts like 25% off one worldwide AIR MILES flight redemption annually

  • Airport lounge access through complimentary Mastercard Travel Pass membership

  • Comprehensive insurance package which covers medical, trip, flight delay, lost luggage and more

  • Additional Perks include BMO Concierge, digital subscriptions, and cash back promotions

Cons

  • An $80,000 personal/$150,000 household income is needed to qualify

  • Ideal for AIR MILES loyalists, may not suit those with a casual approach

  • The fixed redemption value for flights may not appeal to everyone

  • Optimal value only when frequently shopping at AIR MILES partners

Eligibility

Recommended Credit Score

Excellent

Required Annual Personal Income

$80,000

Required Annual Household Income

$150,000

Cardholders earn an accelerated 3x the Miles per $12 spent at participating AIR MILES partners*

3x

the Miles for every $12 spent at any eligible grocery store*

2x

Earn 1 Mile for every $12 in credit card purchases, everywhere you spend*

1x

Get a 25% discount on one worldwide AIR MILES flight redemption during the calendar year*

25%

Purchase APR

20.99%

Balance Transfer Rate

23.99%

Cash Advance APR

23.99%

Annual Fee

$120

While the  BMO AIR MILES World Elite Mastercard comes with an annual fee, you earn 1 mile for every $12 spent anywhere and unlock premium perks like airport lounge access, comprehensive travel insurance and a bigger welcome bonus. 

Let's do some math. Spending $2,000 a month with the BMO AIR MILES Mastercard would net you 80 miles each month, or 960 miles a year. Since short-haul flights within Canada typically require 1,200 to 1,700 miles, it would take around 15 to 18 months to earn a flight.

The BMO AIR MILES World Elite card would earn you about 166 miles per month—adding up to 1,992 miles in a year. That’s enough for a short-haul flight within a year or even sooner, depending on bonuses or promotions.

With enough Air Miles, a short-haul flight could take you from:

  • Toronto to cities like Montreal, Ottawa, New York or Chicago
  • Vancouver to Calgary, Edmonton, Seattle or Portland
  • Halifax to Montreal, Boston or Toronto.

With the BMO AIR MILES World Elite Mastercard, you’ll be flying to your next destination twice as fast compared to the BMO AIR MILES Mastercard.

BMO AIR MILES MasterCard vs. CIBC Aeroplan Visa Card

CIBC Aeroplan® Visa* Card

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4.3

up to 10K pts

Welcome offer

Fair

Suggested credit score

Get a total of up to 10,000 Aeroplan points (up to $200 in travel value†)

Apply now

Pros

  • Earn one Aeroplan point per dollar spent on gas, electric vehicle charging, groceries, and with Air Canada directly, including Air Canada Vacations

  • Earn twice the points at over 150 Aeroplan partners and over 170 online retailers through the Aeroplan eStore

  • No annual fee

Cons

  • You only earn one point for every $1.50 spent on everything else

  • No travel insurance

  • No lounge access

Eligibility

Recommended Credit Score

Fair

Required Annual Household Income

$15,000

Pros

  • Earn one Aeroplan point per dollar spent on gas, electric vehicle charging, groceries, and with Air Canada directly, including Air Canada Vacations

  • Earn twice the points at over 150 Aeroplan partners and over 170 online retailers through the Aeroplan eStore

  • No annual fee

Cons

  • You only earn one point for every $1.50 spent on everything else

  • No travel insurance

  • No lounge access

Eligibility

Recommended Credit Score

Fair

Required Annual Household Income

$15,000

for every $1 you spend on eligible gas, electric vehicle charging, groceries and with Air Canada directly, including through Air Canada Vacations®

1 point

for every $1.50 you spend on all other purchases.

1 point

Earn points twice at over 150 Aeroplan partners and over 170 online retailers through the Aeroplan eStore.

2x

Purchase APR

20.99%

Balance Transfer Rate

22.99%

Cash Advance APR

22.99%

Annual Fee

$0

Foreign Transaction Fee

2.5%

Both the BMO® AIR MILES®† MasterCard®* and the CIBC Aeroplan Visa card are $0 annual fee travel credit cards. With the CIBC Aeroplan Visa Card, you can earn 1x Aeroplan point per dollar spent on gas, electric vehicle charging, groceries and Air Canada purchases. Additionally, shopping at Aeroplan partners allows you to earn double points on your spending.

For those who prefer flying with Air Canada, the CIBC Aeroplan card is a good option. Best of all, you enjoy flexible rewards redemption, as you can redeem your points for flights, vacations, hotel stays, car rentals and gift cards. This card also includes common carrier accident insurance, auto rental collision/loss damage, purchase security, and extended protection, giving it a slight edge over the BMO AIR MILES MasterCard.

BMO AIR MILES MasterCard vs. Scotiabank American Express

Scotiabank American Express®

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3.9

up to 5K pts

Welcome offer

Good

Suggested credit score

Earn up to 5,000 bonus Scene+ points within your first 3 months (that’s up to $50 towards travel).

Expires

Jul 2, 2025

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Pros

  • Earn 5,000 welcome bonus rewards points.

  • Earn up to three Scene+ points on everyday spending.

  • Earn points across five different categories, including food, travel, entertainment and streaming.

  • No annual fee.

Cons

  • The welcome bonus is lower compared to other rewards cards.

  • American Express isn’t accepted everywhere.

  • Limited insurance coverage.

Eligibility

Recommended Credit Score

Good

Pros

  • Earn 5,000 welcome bonus rewards points.

  • Earn up to three Scene+ points on everyday spending.

  • Earn points across five different categories, including food, travel, entertainment and streaming.

  • No annual fee.

Cons

  • The welcome bonus is lower compared to other rewards cards.

  • American Express isn’t accepted everywhere.

  • Limited insurance coverage.

Eligibility

Recommended Credit Score

Good

Scene+ points on every $1 you spend at Sobeys, Safeway, Freshcoand more

3x

Scene+ points for every $1 you spend on restaurants, fast food, drinking establishments and other eligible grocery stores. Includes popular food delivery and food subscriptions.

2x

Scene+ points for every $1 you spend on eligible entertainment purchases. Includes movies, theatre and ticket agencies stores.

2x

Scene+ points for every $1 you spend on eligible gas and daily transit. Includes ride shares, buses, subway, taxis and more

2x

Scene+ points for every $1 you spend on eligible select streaming services

2x

Scene+ point for every $1 spent on all other eligible everyday purchases

1x

Purchase APR

19.99%

Balance Transfer Rate

22.99%

Cash Advance APR

22.99%

Annual Fee

$0

Foreign Transaction Fee

2.5%

If you want a no fee rewards credit card that offers a more flexible rewards program, you can look at the Scotiabank American Express credit card. This credit card allows you to earn 3x Scene+ points on every $1 you spend at Sobeys, Safeway, FreshCo, and Foodland, 2x Scene+ points for every $1 you spend on restaurants, fast food, groceries, drinking establishments, movie and theatre tickets. Plus, you can earnEarn 2 Scene+ points1 for every $1 you spend on eligible gas and daily transit. Includes rideshare, buses, taxis, subway, and more.x Scene+ points for every $1 you spend on eligible gas and daily transit and select streaming services. You can redeem your Scene+ points to for statement credit, gift cards, travel credit and much more. You can also use the Scotia Travel portal to book your flights and stays and take advantage of ongoing travel discounts. 

Conditions Apply. Visit here for the Scotiabank American Express® Card to learn more.*See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.

BMO AIR MILES MasterCard vs. BMO CashBack MasterCard

Card BMO AIR MILES MasterCard BMO CashBack MasterCard
Annual fee $0 $0
Welcome offer Limited time offer: Get 1,500 AIR MILES Bonus Miles!* That’s enough for $150 towards purchases with AIR MILES Cash* Get 5% cash back in your first 3 months*
Insurance Purchase protection, Extended warranty Purchase protection, Extended warranty
Benefits Earn 3x the Miles for every $25 spent at participating AIR MILES Partners; Get 2x the Miles at any eligible grocery store*; Earn 2x the Miles for every $25 spent at any eligible wholesale clubs, membership-based retailers and alcohol retailers; Earn 1x the Mile for every $25 that you spend with your credit card everywhere else 3% (up to a monthly max of $500) cash back on groceries; Earn 1% (up to $500 per month) on any recurring bill payments*.; Cardholders can earn 0.5% (no monthly max) on all other eligible purchases*

Read review You're reading it! BMO CashBack MasterCard review
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 If you're looking for a no annual fee BMO credit card, another great option is the BMO CashBack MasterCard. This card's great welcome offer allows you to maximize your cash back, which you can easily deposit directly into a chequing or savings account, credit to your monthly card statement, or invest via the BMO Investorline account. Cash back is more versatile than AIR MILES, giving you more freedom when it comes to deciding what to do with your rewards.

Is the BMO AIR MILES Mastercard good?

If you collect AIR MILES and want to double them so you can redeem them for free flights faster, the BMO® AIR MILES®† MasterCard®* is a great no-fee credit card that can help you achieve exactly that.

However, when doing our research, we found an unexpected revelation. With Air Miles rewards, you can hack your way to one of the highest travel earn rates of any rewards credit card in Canada, let alone a no annual fee card. The trick is to redeem for short-haul flights at the last minute. Doing so will earn you upwards of 2.04% in value from your BMO® AIR MILES®† MasterCard®* – that’s $2.04 per $100 spent!

For example, in our research at the time this was looked at a flight from Toronto to Boston booked two days before departure cost $664 (excluding taxes & fees), which we were able to book for 1,300 Air Miles – worth 51 cents a mile ($664/1300)! Divide 51 cents by $25 (1 air miles per $25 spent on the credit card) and you get $2.04 in rewards for every $100 spent on your BMO® AIR MILES®† MasterCard®* – unparalleled redemption value.

Compare the earn rate of 2.04% of the BMO® AIR MILES®† MasterCard®* to the 2% earn rate offered by many of Canada’s top premium travel cards that come with a $150 annual fee and the value is obvious.

BMO AIR MILES MasterCard eligibility

To qualify for the BMO® AIR MILES®† MasterCard®* you need the following:

  • A Good credit score
  • $15,000or more of annual personal income

*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.

Frequently asked questions

  • Does the BMO AIR MILES Mastercard have travel insurance?

    +

    The BMO AIR MILES Mastercard does not include travel insurance. However, the BMO AIR MILES World Elite Mastercard offers comprehensive travel insurance coverage, including trip cancellation, medical insurance, and baggage loss protection, making it a better choice for frequent travellers looking for added security.

  • How many AIR MILES do you get with BMO Mastercard?

    +

    With the BMO AIR MILES Mastercard, you earn 1 AIR MILE for every $25 spent. This can vary slightly depending on promotions, and there’s often a small welcome bonus when you first sign up, helping you accumulate miles faster for your first rewards.

  • How do I link BMO Mastercard to my AIR MILES account?

    +

    Linking your BMO Mastercard to your AIR MILES account is simple. Log in to your BMO online banking or call customer service. Provide your AIR MILES Collector Number, and they will link it to your card. After that, you’ll automatically earn miles with every eligible purchase.

  • How do I redeem AIR MILES from BMO Mastercard?

    +

    To redeem your AIR MILES earned with the BMO Mastercard, log in to your AIR MILES account via the AIR MILES website or app. You can use your miles for travel, merchandise, or experiences. Simply select your reward, and follow the instructions to complete your redemption.

  • Does BMO AIR MILES Mastercard offer rental car insurance?

    +

    No, the BMO AIR MILES Mastercard does not provide rental car insurance. However, if you upgrade to the BMO AIR MILES World Elite Mastercard, you’ll receive rental car collision damage waiver coverage, protecting you when renting vehicles during your travels.

Cory Santos Finance editor

Cory Santos is a finance writer, editor and credit card expert with nearly a decade of experience in personal finance. Cory joined Wise Publishing from BestCards, with bylines in numerous print and digital publications across North America, including the Miami Herald, St. Louis Post-Dispatch, Debt.ca, AOL, MSN and Medium as well as financial podcasts like KOFE Talk.

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