BMO World Elite®* Mastercard®*

BMO World Elite®* Mastercard®*

One of the best credit cards for insurance. Get 4 free annual visits to airport VIP lounges.

Take advantage of this limited-time welcome offer!

Value

$308

Welcome Bonus

Up to 30,000 points Ends Oct 31, 2021

Best For

Annual Fee

First Year Annual Fee Rebate (terms apply)


Our Review

Welcome Offer

The BMO® World Elite®* Mastercard®* is one of the best Mastercard credit cards with travel points in Canada.

You can get a welcome bonus of up to 30,000 points:

  • 25,000 points after $3,000 in purchases in the first 3 months
  • 5,000 points on your first anniversary (12 months after the account opening date)

In addition, the $120 annual fee is waived in the first year!

The BMO® World Elite®* Mastercard®* also offers:

  • 4 complimentary passes to airport VIP lounges
  • Premium insurance for your travels or purchases
  • Concierge services

A BMO Rewards loyalty program card

Earn BMO Rewards points

With the BMO World Elite Mastercard, you get 3 points for every dollar spent on:

  • Travel
  • Dining
  • Entertainment

And 2 points for every dollar you spend, Costco included!

Accepted at Costco

You’ll be able to earn 2 points for every dollar you spend at Costco with the BMO World Elite Mastercard.

Other BMO Rewards credit cards

Finally, you can combine the points you get with the two other BMO Rewards cards to save even more on your travels!

Redeeming BMO Rewards points

You can redeem BMO Rewards points in 5 different ways:

However, travel is the best redemption of BMO Rewards points.

BMO Rewards

Check out our ultimate guide to BMO Rewards to learn how to use your BMO Rewards points.

BMO® World Elite®* Mastercard®* Insurance

The BMO World Elite Mastercard offers a number of insurance benefits for:

  • your trips
  • your purchases

Insurance for your trips

The BMO World Elite Mastercard offers a wide range of insurance coverage for your travels:

  • Out-of-Province/Country Emergency Medical Insurance
  • Insurance when renting a vehicle
  • Baggage and Personal Effects Insurance
  • Trip Cancellation Insurance
  • Trip Interruption/Trip Delay
  • Departure flight delay insurance
  • Common Carrier Insurance

Out-of-Province/Country Emergency Medical Insurance

To be eligible for the 21-day Out-of-Province/Country Medical Insurance offered with this BMO World Elite MasterCard, you must be under the age of 65.

Your Coverage Period may be extended provided that no event giving rise to a claim under this insurance has occurred, and You request an extension by telephone prior to Your scheduled return date. The total duration of the Trip, including extensions, cannot exceed 183 days (212 days if You reside in Ontario or Newfoundland).

To request an extension, call the Operations Service center at 1-877-704-0341 in North America; elsewhere around the world call collect 519-741-0782. The premium payment must be charged to Your BMO World Elite Mastercard Account.

This Out-of-Province/Country Emergency Medical Insurance covers the Reasonable and Customary Charges for the Eligible Expenses listed below, when incurred by or on behalf of the Insured Person as a result of a Medical Emergency during the Coverage Period

  • Medical, hospitalization and ambulance costs
  • Private duty nursing
  • Emergency evacuation or airlift
  • Other Professional Services
  • Emergency dental care
  • Transport to the bedside
  • Return of the remains
  • Additional costs for meals and hotel accommodation
  • Return of the vehicle

This insurance covers reasonable and customary expenses up to a maximum of $2,000,000.

Insurance when renting a vehicle

The full cost, or a portion of the rental cost, must be charged to the BMO World Elite Mastercard Account or paid through loyalty points earned under the Mastercard rewards program.

Maximum duration: 48 days.

Collision Damage Waiver

With the BMO World Elite Mastercard, you are covered for the following risks associated with a Rental Vehicle with a Manufacturer’s Suggested Retail Price (MSRP) for the vehicle year not exceeding $65,000

  • damage to the Rental Vehicle;
  • theft of the Rental Vehicle, its parts or accessories;
  • charges levied by the rental agency as a result of valid loss of use while the Rental Vehicle is being repaired; and
  • the reasonable and customary costs of towing the Rental Vehicle to the nearest available facility
Rental Vehicle Accidental Death and Dismemberment Insurance

Rental Vehicle Accidental Death and Dismemberment Insurance provides coverage to an Insured Person who suffers a “loss” as a result of an Accidental Bodily Injury while occupying an eligible Rental Vehicle.

The maximum benefit payable for any one accident is $300,000.

Insurance of personal and business effects when renting a vehicle

Personal Effects Insurance covers theft of or damage to the Insured’s personal effects while the personal effects are inside the Rental Car during a Trip within the eligible rental period.

The benefit provided during an eligible rental period is the Actual Cash Value of Your Personal Effects up to a maximum of $1,000 per Insured Person per occurrence. The total amount of benefits per rental period cannot exceed $2,000 per BMO World Elite MasterCard Account.

Trip Cancellation Insurance

Coverage applies only when you pay for all or part of the cost of your trip with the BMO World Elite MasterCard prior to your departure.

The portion of the prepaid trip that is non-refundable or cannot be rescheduled will be reimbursed to you, up to a maximum of $2,500 per Insured Person, to a maximum of $5,000 per Account.

Trip Interruption/Trip Delay

Coverage applies only when you pay for all or part of the cost of your trip with the BMO World Elite MasterCard prior to your departure.

You will be reimbursed for the extra cost of a one-way economy airfare to your departure or destination and the non-refundable, unused portion of your ground transportation benefits, up to a maximum of $2,000 per Insured Person.

Departure flight delay insurance

Coverage applies only when you pay for all or part of the cost of your trip with the BMO World Elite MasterCard prior to your departure.

Flight delay coverage provides compensation if the arrival or departure of your scheduled flight is delayed by more than 4 hours. You will be reimbursed up to a maximum of $500 per Account per trip for reasonable additional expenses incurred for accommodation and travel.

Baggage and Personal Effects Insurance

Baggage and Personal Effects Insurance provides reimbursement for the Actual Cash Value of the item involved, up to $750 per Insured Person, to a maximum of $2,000 per Account, per Trip, as follows

  • For loss of or damage to Baggage or Personal Effects carried or used by You during the Trip, the maximum coverage provided is $500 per item.
  • In the event of theft, burglary, fire or transportation hazards to Baggage or Personal Effects carried or used by You during the Trip, the maximum coverage provided is $500 per item.
  • In the event of loss of or damage to photographic equipment during the Trip, the maximum coverage provided is $500 per item; all components of the photographic equipment being considered as one item.
  • In the event of loss or damage to jewellery during the Trip, the maximum coverage provided is $500 per item; all jewellery is considered one item.
  • A maximum of $200 will be paid for the purchase of basic necessities if the arrival of Checked Baggage has been delayed by the Common Carrier of twelve (12) hours or more during the Trip to Your destination and before returning to Your original point of departure. The claim must be accompanied by proof of delay of Checked Baggage issued by the Common Carrier and receipts for purchases made. These purchases must be made within thirty-six (36) hours of Your arrival at Your destination. The cost of items purchased under this benefit will be deducted from the maximum payable under the Baggage and Personal Effects benefit, if it is later determined that Your Personal Baggage has been lost, stolen or damaged.

Common Carrier Insurance

The Amount of indemnity in respect of an Insured Person whose coverage has become effective shall not exceed $500,000.

Insurance for your purchases

Purchase insurance

Most items are automatically covered for 90 days from the date of purchase with the BMO World Elite Mastercard.

This insurance protects against theft or damage to an insured item anywhere in the around the world. The total throughmaximum coverage that can apply to Purchase Security and Extended Warranty is $60,000 per Account.

Extended Warranty Insurance

This insurance provides an extension of the original manufacturer’s warranty for up to one year.

The total throughmaximum coverage that can apply to Purchase Security and Extended Warranty is $60,000 per Account.

Offer

Offer
  • Welcome Offer: Get up to 30,000 points – 25,000 points when you spend $3,000 in the first 3 months plus 5,000 points on your first anniversary, and the $150 annual fee waived in the first year.*
  • Complimentary membership in Mastercard Airport Experiences provided by LoungeKey, with exclusive VIP access, plus four annual complimentary passes* ($140 Value/Year).
  • Get 3 BMO Rewards points for every $1 spent on travel, dining and entertainment purchases*
  • Get 2 points for every $1 spent everywhere else*
  • Points you can use to cover all flight charges & taxes*
  • Fly on any airline, with no blackout dates*
  • Redeem your points at any time through the BMO Rewards center.
  • Best-in-class travel and medical insurance (unlimited trips per year)*
  • Get valuable benefits and offers for digital everyday services from a variety of on-demand apps and subscription services
  • Access over 1 million Wi-Fi hotspots around the world – all at no added cost, and no added fees or roaming charges*
  • Unlock Mastercard Travel Rewards cashback offers when you travel and shop outside of Canada

Fees & Conditions

Personal Income $80000
Household Income $150000
Annual Fee $150
First Year Annual Fee Rebate
First Additional Card $50
Other Additional Card $50
Foreign Transaction Fee 2.5%
Purchase Rates 20.99%
Cash Advance Rates 22.99%
Cash Advance Rate (QC) 21.99%

Advantages

Offer ends on Oct 31, 2021
Welcome Bonus Up to 30,000 points
Minimum Spending Required $3000
Minimum Spending Timeframe 90 day(s)
Rewards Type Travel points
Transfer Partners BMO Rewards
Loyalty Program BMO Rewards
All Spending 2
Travel 3
Local Transport 2
Dining and Food delivery 3
Entertainment 3
Concierge
Costco
Lounge Annual Visits included 4

Value

Value

We estimate the value of the welcome offer during the first year for all the credit card offers. Are taken into consideration:

  • The value of cash back or points earned
  • The value of the benefits or credits earned with the Card
  • The annual fee value (offered or not)

 

Calculation of the offer value
in the first year
Value per point 0.67 ¢
Welcome bonus approximately $168
annual visits to airport lounges
(approximately $35 per access)
$140
Annual fee $0
Value approximately $308

 

Insurance

Common Carrier Travel Accident Insurance Amount $500000
Flight Delay Insurance Amount $500
Lost/Stolen Baggage Insurance Amount $750
Trip Cancellation Insurance Amount Per Person $2500
Trip Interruption Insurance Amount Per Person $2000
Travel medical insurance up to 64 years old
Travel medical insurance up to 64 years old - Duration 21 day(s)
Auto Rental Loss/Insurance - Amount MSPP $65000
Purchase Protection - Amount $60000
Purchase Protection - Duration 90 day(s)
Medical Travel Insurance
Extended Warranty
Extended Warranty - Duration 1 year(s)
Insurance Document Learn More
4 Milesopedia Rating