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BMO World Elite Mastercard - Devaluation come Jan 15, 2018

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  • Nov 24th, 2017 3:17 am
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[OP]
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LO5254 wrote:
Oct 20th, 2017 7:22 pm
- BMO will add a bonus rewards earn to Travel/Dining and Entertainment purchase
Well that's EXCELLENT news.
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Jan 19, 2006
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Has anyone who's tried to churn this know if you'll get FYF again? I know the thread said YMMV on the points.
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weirdwing wrote:
Oct 21st, 2017 11:34 am
Has anyone who's tried to churn this know if you'll get FYF again? I know the thread said YMMV on the points.
I asked this earlier last month and doesn't look like anyone tried to take a chance.

I'm thinking of applying via the special offer but if anything, to waive the AF, I'll just open the premium plan to waive$150 (it does takea month or two for them to reverse the fee).

Currently this is the best 2% card for travel imho with premium benefits plus lounge access.
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Sep 23, 2013
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LO5254 wrote:
Oct 20th, 2017 7:22 pm
Here are some possible changes for the BMO World Elite MasterCard as per the following link http://www.canadianrewards.net/2017/10/ ... cards.html. I have no way of verifying this and this is the only website that has announced this. Perhaps someone in the know could verify it.

- BMO will add a bonus rewards earn to Travel/Dining and Entertainment purchase
- Waiver of annual fee for BMO Private Banking clients
angel_wing0 wrote:
Oct 20th, 2017 11:40 pm

Well that's EXCELLENT news.
Too good to last. Some not so excellent news.
That same blog post has now been updated with the following for this card:

- Number of points needed to redeem for $1 in travel rewards will increase from 100 to 135 BMO Rewards points
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happiy wrote:
Oct 21st, 2017 12:39 pm
Too good to last. Some not so excellent news.
That same blog post has now been updated with the following for this card:

- Number of points needed to redeem for $1 in travel rewards will increase from 100 to 135 BMO Rewards points
That is absolutely terrible, a 35% increase!! My annual renewal is in December sometime. I will most likely be looking to cancel this card. The changes will be in effect on Jan 15, 2018 btw.
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Dec 16, 2005
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izzyzz wrote:
Oct 21st, 2017 1:15 pm
That is absolutely terrible, a 35% increase!! My annual renewal is in December sometime. I will most likely be looking to cancel this card. The changes will be in effect on Jan 15, 2018 btw.
I am probably going to use my point before January then.

135 pts per $1 is about 1.48% return. Im assuming the 2pts per $1 is still the earn rate. Which makes sense as they are bringing this in line with the bmo cashback world elite at 1.5%.

To compensate for the drop, they are adding bonus points for categories. Hopefully it is 4pts or more per $1 and not just 3 pts per $1 for the eligible categories.

4pts would be 2.96% return which is ok. 3pts would be a measly 2.22%

Looks like cap 1 aspire travel is coming out ahead. Hopefully they don't change it.
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mech9t5 wrote:
Oct 21st, 2017 1:44 pm
I am probably going to use my point before January then.

135 pts per $1 is about 1.48% return. Im assuming the 2pts per $1 is still the earn rate. Which makes sense as they are bringing this in line with the bmo cashback world elite at 1.5%.

To compensate for the drop, they are adding bonus points for categories. Hopefully it is 4pts or more per $1 and not just 3 pts per $1 for the eligible categories.

4pts would be 2.96% return which is ok. 3pts would be a measly 2.22%

Looks like cap 1 aspire travel is coming out ahead. Hopefully they don't change it.
Is that for the cash back or rewards card and not the Travel 2% correct? It's confusing because they're making several changes
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TorontoEh wrote:
Oct 21st, 2017 2:17 pm
Is that for the cash back or rewards card and not the Travel 2% correct? It's confusing because they're making several changes
According to the blog post it is the travel one which is currently 2%
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Oct 10, 2017
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Well the news is disappointing a bit but i think it still may be a competitive card to the Capital One Aspire. I had the Capital One card and cancelled it but i admit it is a great card. My whole point of getting this card was based on the annual fee waiver with the BMO unlimited bank account but my main goal was trip cancellation insurance. With a family of five this saves us a lot of money because we tend to take decent sized vacations so no annual fee + trip cancellation insurance = win win.

If the dining and especially the travel bonus is half decent then the 1.48% return will increase. In my case, having the annual fee waived makes the break even point between the Cap One and BMO WE a $30,000 spend.
Cap One: $30,000 x 2% = $600 - $150 annual fee = $450 return
BMO WE: $30,000 x 1.48% = $444 + $0 annual fee = $444 return

Also we are Superstore customers so we use the PC WE MC to get a 3% return on groceries so that will cut in to our yearly spend.

I don't think any other card competes as well with the two above strictly for trip cancellation insurance. Yes the Scotia Amex Gold is great. I have it and am cancelling it soon. It just isn't accepted widely enough to make it worthwhile. Costco, Wal-Mart, Loblaws are the least expensive places to shop and they either don't accept AMEX or in Wal-Mart's case only give you a 1% return.

Of course everyone has different spending habits. We will have to wait and see what the specific bonus amounts are when spending on travel, dining and entertainment.
[OP]
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Mar 23, 2004
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happiy wrote:
Oct 21st, 2017 12:39 pm
Too good to last. Some not so excellent news.
That same blog post has now been updated with the following for this card:

- Number of points needed to redeem for $1 in travel rewards will increase from 100 to 135 BMO Rewards points
If that's indeed true, time to move on to another card.
「もし、奇跡を起こせたら……」
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Dayum have the Air Miles and Reg World Elite Cards, nerfed hard. Will be harder to get the free companion flight reward now
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LO5254 wrote:
Oct 21st, 2017 4:14 pm
Well the news is disappointing a bit but i think it still may be a competitive card to the Capital One Aspire. I had the Capital One card and cancelled it but i admit it is a great card. My whole point of getting this card was based on the annual fee waiver with the BMO unlimited bank account but my main goal was trip cancellation insurance. With a family of five this saves us a lot of money because we tend to take decent sized vacations so no annual fee + trip cancellation insurance = win win.

If the dining and especially the travel bonus is half decent then the 1.48% return will increase. In my case, having the annual fee waived makes the break even point between the Cap One and BMO WE a $30,000 spend.
Cap One: $30,000 x 2% = $600 - $150 annual fee = $450 return
BMO WE: $30,000 x 1.48% = $444 + $0 annual fee = $444 return

Also we are Superstore customers so we use the PC WE MC to get a 3% return on groceries so that will cut in to our yearly spend.

I don't think any other card competes as well with the two above strictly for trip cancellation insurance. Yes the Scotia Amex Gold is great. I have it and am cancelling it soon. It just isn't accepted widely enough to make it worthwhile. Costco, Wal-Mart, Loblaws are the least expensive places to shop and they either don't accept AMEX or in Wal-Mart's case only give you a 1% return.

Of course everyone has different spending habits. We will have to wait and see what the specific bonus amounts are when spending on travel, dining and entertainment.
The unlimited bank account package makes it a little bit easier to swallow along with the 4 passes too. BMO seems to make many adjustments so I wouldn't be surprised if they changed the conditions of the package soon.
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Hopefully the new restaurant/entertainment bonus still maintains the 2% cb on travel. Now I have to start looking for another card...ugh.
「もし、奇跡を起こせたら……」
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Oct 7, 2008
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TorontoEh wrote:
Oct 21st, 2017 12:22 pm
I asked this earlier last month and doesn't look like anyone tried to take a chance.

I'm thinking of applying via the special offer but if anything, to waive the AF, I'll just open the premium plan to waive$150 (it does takea month or two for them to reverse the fee).

Currently this is the best 2% card for travel imho with premium benefits plus lounge access.
Ppl have tried it, they're just not talking. That usually means one thing.
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mech9t5 wrote:
Oct 21st, 2017 2:47 pm
According to the blog post it is the travel one which is currently 2%
Ah crap, i was about to apply for this card because it's straight 1:1 2% travel cash. Damn what a bummer.
So now you need 3 points to redeem for$1 travel dollar.

Guess it's either TD FCT card which still has better return with TD for Expedia.
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