BMO World Elite Mastercard Review

Already mentioned above, the welcome bonus of 30,000 BMO reward points is the best part about signing up for this credit card. Even if you already have a Mastercard, but you travel a lot, you need to have this travel rewards credit card to ensure you are making the most of all your travel experiences. 

If you travel quite a bit during the year for work or pleasure, getting travel insurance separately for each trip is a hassle and can be exorbitantly expensive. It can deter you from travelling altogether. 

But with a BMO World Elite Mastercard, you are covered for unlimited trips throughout the year. That's right, no matter how many trips you take in a year, you are covered up to $2 million in eligible medical expenses for all trips of 21 days and under.

This is a great whoosh of relief for many Canadians who like the idea of adding more travel to their annual roster but worry about unexpected medical bills. The Canadian health insurance plan will not pay your medical bills when you are outside the country or will cover a small part of it, but not upfront. 

Some emergency medical expenses (like ambulance rides, surgery, and more) can add up quickly especially if you are in a foreign country where foreigners are sometimes charged 'foreign rates'. It's always a better and safer option to have travel health insurance, such as the one the BMO travel rewards credit card offers.

Whenever you purchase anything with your BMO World Elite Mastercard, you will receive 3 times the points! This is for every $1 spent on eligible travel, dining, and entertainment purchases. 

Great news for all Canadians who like to splurge a bit on themselves when travelling overseas, on meals, train tickets, and event tickets. You don't need to feel guilty about using your credit card for all these purchases, as you are going to earn lots of points in return. So swipe away!

With this travel rewards MasterCard, you get free membership in Mastercard Airport Experiences provided by LoungeKey, plus 4 free passes a year. If you have never had an airport lounge experience before, but have always envied others who seem to zoom into these spaces, it's time you took off your green glasses and got in on the action. 

Click for a list of all open and eligible airport lounges in this program.

Let's review some of the benefits of BMO rewards points in general. 

• No blackout periods - you can redeem BMO reward points for cruises, flights, hotels, rentals, and vacation packages
• No extra costs - your points will cover everything from fees to taxes
• You can even use your points to contribute to your savings or investment account at BMO
• Pay with points - use your points to pay for whatever purchases you want
• Add another cardholder for only $50 a year
• Get an extended warranty and purchase protection on eligible purchases
• Get 25% off rentals at participating National Car Rental and Alamo Rent a Car locations
• Get 15% off admission to Cirque du Soleil shows touring Canada and 20% off resident shows in Las Vegas
• Don't ever be without Wi-FI - connect to over 1 million Wi-FI hotspots with Boingo Wi-Fi

With such a lineup of fantastic benefits, it's no wonder that this travel rewards credit card is called 'World Elite'. 

• 20.99% for purchases
• 23.99% for cash advances (21.99% for Quebec residents)

Every time you eat out (no special occasion required) or go for a weekend tropical getaway to Mexico or Cuba, you can earn 3 times the points on every dollar spent on eligible travel, entertainment, and dining out expenses. You will also earn 2 times the point on every other dollar you spend everywhere else. That's why you need to get swiping!

Also, car rentals are no longer a pain, but a boon to Canadians, since you get 2 bonus points for every dollar you spend on rentals at participating National Car Rental and Alamo Rent a Car locations. No need to schlep your family around in a bus or train anymore, but road trip it everywhere!

It's easy to redeem points - as easy as logging into your bmorewards.com account and clicking the Pay with Points tab. 

Then you would browse your recent transactions and select which eligible purchases you want to redeem points for. You can choose how many points you would like to redeem towards your purchase - it can be as little as $1. There are no restrictions here.

American Express Cobalt Card

• receive 30,000 points ($300)
• higher point redemption flexibility
• no minimum income requirement
• does not waive $156 annual fee
• comes with baggage loss and baggage delay insurance

TD First Class Travel Visa Infinite Card

• receive 80,000 points ($400)
• lower point redemption flexibility
• $120 annual fee, first year waived
• comes with baggage loss and baggage delay insurance