Credit Cards

BMO World Elite Mastercard - Devaluation May 5th, No Plaza Premium access July 1st

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  • Nov 17th, 2023 12:51 pm
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Deal Guru
User avatar
Aug 8, 2012
10198 posts
4028 upvotes
BC
Hype19 wrote: Great. Calling tomorrow to switch. Currently paying 10.95 monthly for a similar account at RBC, and 120/year for the similar travel credit card.
Are you already a BMO customer? If not why not got for the Bank Unlimited Plan promo which doesn't require $6000 min. balance parked earning nothing just to waive fees? :D

See bmo-free-unlimited-bank-account-new-cus ... y-2085669/
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
Moderator
User avatar
Mar 23, 2004
47725 posts
13890 upvotes
Markham
Hype19 wrote: Great. Calling tomorrow to switch. Currently paying 10.95 monthly for a similar account at RBC, and 120/year for the similar travel credit card.
Great to hear, if you are a new BMO client, you should go for the bankup account which will waive the fee on the card as well without having the premium plan. Go read the OP.
Newbie
Nov 26, 2015
26 posts
10 upvotes
Montreal, QC
angel_wing0 wrote: Great to hear, if you are a new BMO client, you should go for the bankup account which will waive the fee on the card as well without having the premium plan. Go read the OP.
Ah I see. But I wont get the 20k point if I go with the bankup option right?
Also what does "Your Savings Account remains open and in good standing" really mean? Can I leave $1 in there and be good? I literally have no use for this account.
Moderator
User avatar
Mar 23, 2004
47725 posts
13890 upvotes
Markham
Hype19 wrote: Ah I see. But I wont get the 20k point if I go with the bankup option right?
Also what does "Your Savings Account remains open and in good standing" really mean? Can I leave $1 in there and be good? I literally have no use for this account.
Correct and correct.
Sr. Member
May 12, 2006
551 posts
520 upvotes
ON
Necro bump.

When did they reduce PP from 4 to 2
Deal Addict
Nov 30, 2016
1375 posts
1868 upvotes
Grande Prairie, AB
How long after initial spend does it take to get the points?
Jr. Member
Dec 24, 2012
123 posts
78 upvotes
VANCOUVER
"or $2,100 spending on other credit cards per month"

I don't see this anywhere for being approved? Is there anywhere it says this so I can use it for reference when apply?
Sr. Member
May 12, 2006
551 posts
520 upvotes
ON
angel_wing0 wrote: No it's still 4 afaik.
Nope, I used a voucher today and it says 1 left for the year. I logged into my PP app and sure enough it says 2 per year :(
Member
Aug 3, 2013
488 posts
289 upvotes
Durham
Canuck485 wrote: Necro bump.

When did they reduce PP from 4 to 2
Still 4 passes for BMO rewards world elite. The Airmiles world elite only gets 2 passes.
Deal Guru
User avatar
Aug 8, 2012
10198 posts
4028 upvotes
BC
Canuck485 wrote: Nope, I used a voucher today and it says 1 left for the year. I logged into my PP app and sure enough it says 2 per year :(
What does it say on BMO's site?

Click on account summary -> mastercard account -> reward details sub-tab (next to "Transactions" tab), or maybe click this link after logged in:
https://www13.bmo.com/onlinebanking/OLB ... /MCDetails

I see, e.g.
Remaining Complimentary Passes (as of last month) : 4
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
Deal Addict
Nov 18, 2011
2189 posts
2897 upvotes
TORONTO
Stupid question, how do I use the 4 passes? Just walk in the airport lounge and show them the credit card?
RACISM IS THE WORST VIRUS
Deal Addict
Oct 13, 2006
3024 posts
1538 upvotes
Burnaby
hansdoreen wrote: Stupid question, how do I use the 4 passes? Just walk in the airport lounge and show them the credit card?
No you get a priority pass card or some lounges will accept your electronic card card via the app, the 4 annual passes are loaded to your card profile. Card is sent to you within about 4 weeks of being approved for the BMO World Elite.
Moderator
User avatar
Mar 23, 2004
47725 posts
13890 upvotes
Markham
Canuck485 wrote: Nope, I used a voucher today and it says 1 left for the year. I logged into my PP app and sure enough it says 2 per year :(
Well it's just you then, assuming you have the pure World Elite. I have 4 and my gf has 4...better talk to bmo/pp at once.
Member
User avatar
Aug 2, 2007
249 posts
418 upvotes
This is a great card. Make sure to compare and check out the T&C's of other cards.
I found the rental vehicle insurance to be awesome.
I had someone ding my rental. A majority of credit cards use a clause that require you to make an insurance claim on your personal vehicle insurance (if you have one) before using the credit card insurance.
There are only a handful of CC's that don't do this.
WE MC offers comprehensive coverage, so you don't need to file a claim through using your own personal vehicle (thus raising your insurance rate on renewal).
The damage was around $300 which MC covered.
Newbie
Nov 26, 2015
26 posts
10 upvotes
Montreal, QC
angel_wing0 wrote: Correct and correct.
Would it not be possible to first apply to the WE card to get the points, and then apply to the bankup offer to waive the fees?
Also, if the $1.5k/month deposits have to stop, would maintaining 6k balance in that account also waive the monthly fees?

Thanks a lot!
Moderator
User avatar
Mar 23, 2004
47725 posts
13890 upvotes
Markham
Hype19 wrote: Would it not be possible to first apply to the WE card to get the points, and then apply to the bankup offer to waive the fees?
Also, if the $1.5k/month deposits have to stop, would maintaining 6k balance in that account also waive the monthly fees?
No, you cant have a BMO credit card if you want to get bankup.

No, then you would have to switch account plans. The thing is the $1500 just need to stay in your account for a few seconds and then you can just EMT it back to where it came from.
Newbie
Nov 26, 2015
26 posts
10 upvotes
Montreal, QC
angel_wing0 wrote: No, you cant have a BMO credit card if you want to get bankup.

No, then you would have to switch account plans. The thing is the $1500 just need to stay in your account for a few seconds and then you can just EMT it back to where it came from.
Alright thanks for your time and all the info.
Just applied online and got accepted.

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