The main difference between the BMO Air Miles Mastercard and the BMO CashBack World Elite Mastercard lies in their rewards and cashback offerings. While both cards are issued by BMO and share some similarities, they diverge significantly when it comes to their rewards structure, fees, and standout features.
When it comes to rewards, the BMO Air Miles Mastercard is tailored for those who love to travel. With this card, you can earn Air Miles for your everyday spending, which can be redeemed for flights, hotels, and other travel-related expenses. On the other hand, the BMO CashBack World Elite Mastercard focuses on providing cashback rewards on your purchases, putting money back in your pocket with every swipe.
In terms of fees, the two cards may have different annual fees and interest rates, so it's important to consider your spending habits and financial preferences. The BMO Air Miles Mastercard may offer travel-related perks and benefits at a $0 annual fee, but the BMO CashBack World Elite Mastercard could appeal to those who prioritize cash savings on everyday spending.
Both cards often come with introductory offers and bonuses that sweeten the deal. These promotions could include bonus reward points or cashback percentages during the initial months of card ownership, giving you an extra boost to kickstart your rewards journey.
A standout feature of the BMO Air Miles Mastercard is its connection to the Air Miles program, granting you access to a wide range of travel rewards and exclusive experiences. Conversely, the BMO CashBack World Elite Mastercard offers the convenience of straightforward cashback rewards without the need to navigate complex travel redemption options.
In conclusion, while the BMO Air Miles Mastercard and the BMO CashBack World Elite Mastercard share a common issuer, they cater to different preferences. The former focuses on travel rewards through the Air Miles program, while the latter emphasizes cashback rewards for your everyday spending. Consider your spending habits, lifestyle, and financial goals to determine which card aligns best with your needs.
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|---|---|
| Description | |
| Use your Cash Miles towards everyday shopping, like gas and groceries, at participating partners. All of these with no annual fee. | Maximize your cashback rewards in categories that matter most to you. It offers the highest cashback earn rate on grocery purchases in Canada. |
| Basics | |
| Additional Cardholders | |
| 9 | 9 |
| Card Type | |
| Mastercard | Mastercard |
| Minimum Credit Limit | |
| N/A | N/A |
| Maximum Credit Limit | |
| N/A | N/A |
| Sign up bonus | |
| Signup Bonus Points | |
| 800 points | N/A |
| Signup Bonus Points Required Spend | |
| $1,000.00 | N/A |
| Signup Bonus Points Required Spend Terms | |
| eligible purchases in the first 3 months | N/A |
| Rewards | |
| Rewards Program | |
| BMO Rewards | BMO Cashback |
| Domestic Rewards Points Earn Rate | |
| 1 | N/A |
| Cashback Percentage Grocery Spend | |
| N/A | 5% |
| Benefits | |
| Airport Lounge Access Included | |
| No | No |
| Concierge Service Included | |
| No | Yes |
| Cardholder's International Travel Insurance | |
| No | Yes |
| Complimentary Flight Voucher Included | |
| No | No |
| Introductory balance transfer | |
| Balance Transfer Rate | |
| 0.99% | N/A |
| Balance Transfer Period | |
| 9 months | N/A |
| Balance Transfer Fee Percentage | |
| 2% | N/A |
| Balance Transfer Limit Percentage | |
| 80% | N/A |
| Balance Transfer Revert Rate | |
| 22.99% | N/A |
| Ongoing rates | |
| Cash Advance Rate | |
| 22.99% p.a. | 23.99% p.a. |
| Purchase Rate Ongoing | |
| 20.99% p.a. | 20.99% p.a. |
| Ongoing fees | |
| Annual Fee Ongoing | |
| $0.00 | $120.00 |
| Foreign Exchange Fee Percentage | |
| 2.5% | 2.5% |
| Late Payment Fee | |
| N/A | N/A |
| Overseas ATM Withdrawal Fee | |
| $5.00 | $5.00 |
| Digital wallets | |
| Apple Pay Enabled | |
| Yes | Yes |
| Google Pay Enabled | |
| Yes | Yes |
| Samsung Pay Enabled | |
| Yes | Yes |
| Eligibility | |
| Available To Existing Customers | |
| No | No |
| Minimum Age | |
| 18 years | 18 years |
| Minimum Credit Rating | |
| Good | Good |
| Minimum Income | |
| $15,000.00 | $80,000.00 |
| Temporary Residents Accepted | |
| No | No |
