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BMO World Elite MasterCard Review
26 Mar 2019

A Brief BMO World Elite MasterCard Review

Travelling is an expensive activity that is also worth every penny. However, that doesn’t mean that it wouldn’t be helpful for you to have a travel credit card to defray those costs. Reading this BMO World Elite MasterCard review can tell you whatever you need to know about this one remarkable card option.

Many Flexible Rewards Coming Your Way

Earning reward points with this card is fairly simple – you’ll receive 3 points per dollar for entertainment, travel and dining expenses, plus 2 points per dollar everywhere else. To help get you started, you can take advantage of the current selcome bonus that offers you 35,000 points, provided that you spend at least $3,000 in your first 3 months. You will also have the $150 annual fee waived for the first year as part of that bonus, so you can enjoy even more value from this card right from the start.

Unlike many travel cards that only allow you to use your points for travel expenses, you can put these points toward all kinds of different rewards if you so choose. There are housewares, electronics and all sorts of other useful items up for grabs, as well as things like gift cards and tickets to live events. You can even exchange your points for cash by getting a credit on your next statement (at a rate of 15,000 points for $50 in credit) if you really don’t know what to spend your points on. There is absolutely no way that you will ever feel like your points are going to waste because you will always be able to use them on something, putting this card slightly above similar high-level travel cards that are more restricted.

Enjoy Perks and Benefits Fit For a King

A card with the word ‘elite’ in the name should come with some impressive benefits. This one does not disappoint. Almost all of them are focused around travel, fittingly for a card that is also meant to be used to accrue travel rewards. It gets you access to VIP lounges through the MasterCard Airport Experiences program, 4 complimentary lounge passes per year, a discount on certain rental car services, and 24/7 concierge service to help you tackle some of your life’s logistical difficulties. In terms of insurance, things are equally pleasant. You’ll get 14 different types of insurance, including all of the ones you would expect to have included. Some of them are rather hard to find with most cards, though; the best of these is the astounding 21 days of emergency travel medical coverage for you and your dependents, a bonus which practically ensures that you’ll never have to worry about unexpected accidents while abroad ever again. Another unusual inclusion is coverage for your personal effects for the entire duration of your trip, which means that if you lose or break something, a replacement may be provided for you when you get back.

High Value, High Requirements

As a high-level card, anyone who applies for this one should be prepared to meet some high standards in order to be approved. Not only will you need good credit, but you’ll also need to be making at least $80,000 as an individual or $150,000 in combination with a significant other. To make it more clear how hard this bar really is to clear, the median income for a household across Canada is only about $70,000 a year. The median personal income is about half that, and neither of these amounts even comes close to qualifying for this card. Unfortunately, this means that many people who want this card will be unable to get it; however, many will still be able to qualify and enjoy this advantageous opportunity.

This BMO World Elite MasterCard Review Is Done – Time To Apply

There’s not much more to say in this BMO World Elite MasterCard review – the rewards are great, the insurance is great, and the extra perks that are included with it are the cherry on top of the whole package. If you want it and think you can qualify, you should hop onto Bonsai Finance’s online portal and start the application process. You have little to lose but much to gain, and there are many people out there who wish they were in your shoes.