AIR MILES is a program that most Canadians have heard about or participated in at some point. While it has fallen in popularity a bit in recent years as a result of partnership changes, there is still value to be had with the program, especially when the focus is on earning AIR MILES via a co-branded BMO AIR MILES credit card.
The obvious and best choice to accrue AIR MILES is BMO AIR MILES®† World Elite®* Mastercard®* as it offers the best welcome bonus and earning rates across any of the options available. With that in mind, let’s take a deep look at this card to see the value it can add to your wallet.
Overview
Welcome Bonus
The BMO AIR MILES World Elite Mastercard currently has a welcome bonus in which new cardholders can earn up to 7,000 AIR MILES:
- Earn 3,000 AIR MILES upon spending $4,500 within 110 days
- Earn 2,000 AIR MILES upon spending $10,000 within 180 days
- Earn 2,000 AIR MILES upon spending $20,000 within 365 days
Plus: You can earn an additional $75 FlyerFunds Rebate on the BMO AIR MILES World Elite Mastercard when you apply through Frugal Flyer Rebates!
The BMO AIR MILES World Elite Mastercard earns 3x AIR MILES per $12 spent at all AIR MILES partners, plus 2x AIR MILES per $12 spent at grocery stores.
Check out our BMO AIR MILES World Elite Mastercard review for more details.
7,000 AIR MILES
$20,000
$1,125+
$120 (FYF)
Yes
Jun 1, 2026
This offer has an expiry date of Jun 1, 2026.
The BMO AIR MILES World Elite Mastercard has an annual personal income requirement of $80,000 or an annual household income requirement of $150,000.
Earning Rates
The BMO AIR MILES World Elite Mastercard earns AIR MILES for all eligible purchases made on the card at the following rates:
- Earn 3 AIR MILES for every $12 spent on purchases at AIR MILES partners.
- Earn 2 AIR MILES for every $12 spent at any eligible grocery store.
- Earn 2 AIR MILES for every $12 spent at any eligible wholesale clubs, membership-based retailers, and alcohol retailers.
- Earn 1 AIR MILE for every $12 spent on all other purchases.
If you are curious as to which retailers count as participating AIR MILES partners for earning bonus miles, the full list of eligible partner retailers can be found here.
Annual Fee
The BMO AIR MILES World Elite Mastercard has an annual fee of $120. This annual fee is often waived as part of the welcome offer, so double-check the terms and conditions before applying.
Customers who have a BMO Premium Chequing account can receive up to a $150 annual fee rebate per calendar year or those who have a BMO Performance Chequing account can receive up to a $40 annual fee rebate per calendar year.
The BMO Performance Chequing account offers unlimited debit and Interac e-Transfer transactions. Account holders are entitled to one free monthly ATM withdrawal in Canada and a $40 BMO credit card annual fee rebate.
Up to $750 welcome bonus + $50 FlyerFunds on approval
Chequing
Monthly fee waived with a minimum daily closing balance of $4,000 $17.95
These are two of the best bank accounts that reduce credit card annual fees but review the benefits of your BMO bank account to understand how this benefit works.
Benefits
The BMO AIR MILES World Elite Mastercard offers a few notable benefits that cardholders can utilize to save on their day-to-day expenses and AIR MILES travel redemptions.
Shell Fuel Discount
Cardholders will receive a 7¢/L discount on Shell V-Power®± premium fuel and 2¢/L on all other Shell fuel every time they fuel up. The benefit extends to a maximum of 1000 litres in one month and ends on December 31, 2024.
To receive the savings at the pump, the cardholder’s AIR MILES collector number must be connected to the BMO AIR MILES World Elite Mastercard and then the purchase will need to be made with the linked Mastercard. The discount will automatically apply at the time of purchase and will be reflected on the receipt.
25% Discount on One Worldwide AIR MILES Flight Redemption
As a BMO AIR MILES World Elite Mastercard cardholder, once per calendar year when redeeming Dream Miles for any flight booking, you will receive a 25% discount on the number of AIR MILES that are required to make that booking.
The flight booking discount applies to the full flight booking and will be distributed equally on each ticket included in the booking, to a maximum of 750 Miles total.
Insurance Coverage
The BMO AIR MILES World Elite Mastercard offers several types of insurance coverage:
- Out-of-province or country emergency medical insurance: $5,000,000 coverage for the first 15 days of any out-of-province trips for travelers aged 64 or under
- Trip cancellation insurance: $1,500 per covered person per trip, up to an overall $5,000 maximum
- Trip interruption & trip delay insurance: $2,000 per covered person per trip, up to an overall $10,000 maximum
- Rental car collision and loss damage insurance: Comprehensive coverage for cars up to $65,000 MSRP
- Common carrier insurance: $500,000 of accidental death and dismemberment coverage
- Flight delay insurance: $500 per trip for all insured persons combined in the event of a flight delay of more than four hours
- Lost, stolen, or damaged baggage insurance: $500 per person coverage for emergency purchases when your baggage is lost or delayed, up to an overall maximum of $1,000 per trip
- Baggage delay insurance: $500 per person coverage for emergency purchases when your baggage is lost or delayed, up to an overall maximum of $1,000 per trip
- Hotel burglary insurance: $1,000 coverage for stolen items per occurrence
- Purchase security: Coverage for accidental physical damage or theft for 90 days from the date of purchase
- Extended warranty insurance: Extend the manufacturer’s original warranty up to one additional year
Refer to the BMO AIR MILES World Elite Mastercard insurance certificate for additional details, including terms and conditions for eligibility.
Redeeming AIR MILES Rewards
AIR MILES can be earned as Cash Miles or Dream Miles, which have different redemption options. Members will need to select whether they want to earn Cash Miles or Dream Miles and at what percentage split. However, those AIR MILES members who hold Gold status can move AIR MILES back and forth between the two categories at a ratio of 1:1.
Cash Miles can be redeemed at a rate of 95 AIR MILES for $10 CAD and can be used towards purchases at participating AIR MILES partners, for eVouchers, and even redeemed through the Onyx Personal Shopper Service which offers Onyx AIR MILES members the ability to redeem their miles for literally anything they can think of. In the past, I’ve used this service to purchase a Nespresso machine and a printer with AIR MILES and was impressed with how smooth the process was!
On the flip side, if you are looking to redeem your AIR MILES as Dream Miles, they can be used towards flights, hotels, car rentals, and merchandise at various rates. If you want to use your AIR MILES for any travel redemptions, all you need to do is search on the AIR MILES site to determine the AIR MILES cost for your redemption.
Personally, I prefer to focus on using other points currencies for travel redemptions, such as Air Canada Aeroplan and British Airways Avios, and usually end up redeeming my AIR MILES Rewards for gasoline purchases at Shell to save a bit on my monthly budget. Either way, with AIR MILES being anchored at a minimum redemption rate of 95 AIR MILES for $10 CAD, there isn’t really a bad redemption to be made within this program.
Comparable Credit Cards
If you aren’t sure if the BMO AIR MILES World Elite Mastercard is right for you or are simply looking for a few other options before applying, BMO offers a few other credit cards that are worth considering.
BMO AIR MILES Mastercard
The BMO AIR MILES Mastercard is a good option for lower income individuals who are interested in participating in the AIR MILES program, as the card has a lower minimum income of $15,000.
The BMO AIR MILES Mastercard earns 3x AIR MILES per $25 spent at all AIR MILES partners.
1,200 AIR MILES
$1,500
$230+
$0
Yes
Jun 1, 2026
The card has the identical bonus spend multipliers as the World Elite Mastercard version, except that it earns for every $25 spent at eligible retailers making it have an earning rate of 50% less than the World Elite version.
Either way, if you are looking to get into the AIR MILES ecosystem and you don’t meet the income requirements of the World Elite Mastercard, this normal Mastercard can be an option worth considering.
BMO CashBack World Elite Mastercard
The BMO CashBack World Elite Mastercard is a great option for those individuals who are interested in a credit card within the BMO ecosystem but would prefer earning more straightforward rewards in the form of cash back.
The BMO CashBack World Elite Mastercard earns up to 5% cash back on grocery purchases, plus elevated cash back earning rates on other popular spending categories.
In 2025, we awarded this card as the Best Cash Back Credit Card.
Check out our BMO Cashback World Elite Mastercard review for more details.
$335 cash back
$2,600
$410+
$120 (FYF)
Yes
Jan 31, 2026
The BMO CashBack World Elite Mastercard earns at an accelerated rate on all grocery, transit, gasoline, and recurring bill payment purchases (up to a set spending amount per category, per statement period). Cash back can be redeemed as long as the earned balance is over $1 and can be redeemed towards a statement credit, deposited into a BMO chequing or savings account, or deposited into an InvestorLine account.
As this card is a World Elite Mastercard, it has the same annual personal or household income requirements of $80,000 or $150,000.
Conclusion
While AIR MILES may not be as prominent of a program as it was years ago, I still think there is value in collecting them, whether you are looking to cut travel costs or even your personal monthly expenses through Cash Miles redemptions. The BMO AIR MILES World Elite Mastercard is absolutely the best way to earn them en masse, so consider adding this card to your wallet if you want to go deeper with AIR MILES.
Josh Bandura
Latest posts by Josh Bandura (see all)
- Definitive Guide: CIBC Aventura Airline Rewards Chart - Jun 30, 2025
- Earn Cash Back Rebates on Tangerine Bank Accounts - Jun 11, 2025
- New BMO Chequing Account Offers (June 2025) - Jun 9, 2025
- Best Credit Cards in Canada (June 2025) - Jun 1, 2025
- Best Bank Accounts in Canada (June 2025) - Jun 1, 2025
