BMO AIR MILES Mastercard vs BMO CashBack World Elite Mastercard

By   |   Verified by David Boyd   |   Updated 15 Aug 2023

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.

BMO AIR MILES Mastercard
 
BMO CashBack World Elite Mastercard
 
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
99
Card Type
MastercardMastercard
Minimum Credit Limit
N/AN/A
Maximum Credit Limit
N/AN/A
Sign up bonus
Signup Bonus Points
800 pointsN/A
Signup Bonus Points Required Spend
$1,000.00N/A
Signup Bonus Points Required Spend Terms
eligible purchases in the first 3 monthsN/A
Rewards
Rewards Program
BMO RewardsBMO Cashback
Domestic Rewards Points Earn Rate
1N/A
Cashback Percentage Grocery Spend
N/A5%
Benefits
Airport Lounge Access Included
NoNo
Concierge Service Included
NoYes
Cardholder's International Travel Insurance
NoYes
Complimentary Flight Voucher Included
NoNo
Introductory balance transfer
Balance Transfer Rate
0.99%N/A
Balance Transfer Period
9 monthsN/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/AN/A
Overseas ATM Withdrawal Fee
$5.00$5.00
Digital wallets
Apple Pay Enabled
YesYes
Google Pay Enabled
YesYes
Samsung Pay Enabled
YesYes
Eligibility
Available To Existing Customers
NoNo
Minimum Age
18 years18 years
Minimum Credit Rating
GoodGood
Minimum Income
$15,000.00$80,000.00
Temporary Residents Accepted
NoNo