To the point
Following BMO's acquisition of AIR MILES, American Express co-branded AIR MILES credit cards are not currently available.
The last few weeks have been eventful for AIR MILES. In a short period of 48 hours, it was announced that Loyalty Ventures, the company that owned AIR MILES, had gone bankrupt and that BMO intended to acquire AIR MILES.
Several changes and events in recent months have led to this important shift, which has raised many questions among AIR MILES Collectors. The good news is that all members will keep their miles balances.
With BMO’s acquisition of AIR MILES, we couldn’t help but wonder about the future of co-branded cards with American Express, a competing financial institution.
What about American Express co-branded cards?
The following AIR MILES credit cards issued by American Express are currently not available:
- American Express® Prestige AIR MILES® Credit Card‡
- American Express® AIR MILES® Platinum Credit Card‡
- American Express® AIR MILES® Credit Card‡
And the business cards:
- American Express® AIR MILES®* for Business Card
- American Express® AIR MILES®* Gold Business Card
Current American Express Co-branded Cardholders
Do you have one of these cards? Don’t worry, you can still use it and earn AIR MILES miles. However, we recommend that you keep an eye out for communications from American Express. Who knows if you will eventually receive offers to transition to other American Express products?
What are the alternatives to American Express co-branded cards?
If you’ve been meaning to sign up for an AIR MILES credit card, there are still many options available to you at BMO. Here they are:
This may be a good time to sign up for the BMO® AIR MILES® World Elite®* Mastercard®* MasterCard as an alternative. Here are the details of this credit card:
With this exclusive offer for the BMO® AIR MILES® World Elite®* Mastercard®*, you can earn 3,000 AIR MILES Bonus Miles after $3,000 in Card purchases; that’s a $310 cash value. Besides, the annual fee is waived in the first year!
With this card, you earn 3 miles for every $12 spent at participating AIR MILES Partners. Everywhere else, you’ll earn 1 Mile for every $12 spent, including at Costco and Walmart. And it’s the only AIR MILES credit card in Canada to offer a 15% discount on AIR MILES flights within North America with no blackout periods.
The BMO® AIR MILES® World Elite®* Mastercard®* card also offers:
- Premium insurance for your travels or purchases
- Double the miles for car rentals with National or Alamo
- Concierge services
Bottom Line
The disappearance of AIR MILES co-branded American Express cards was expected, following the announcement of the acquisition by BMO. AIR MILES Collectors will still be able to earn miles on their co-branded credit cards, but will no longer be able to sign up for the cards formerly offered by American Express.
Depending on your spending habits, you may want to consider Scene+ credit cards as it is now possible to earn points at the grocery store, especially at Sobeys and IGA which used to be with AIR MILES.
In any case, take the opportunity to review your strategy with these two rewards programs!
Come to discuss that topic in our Facebook Group!
