BMO World Elite Mastercard - Devaluation May 5th, No Plaza Premium access July 1st
Current Design:
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Old Design:
NOTE: This is continuation of the original thread: http://forums.redflagdeals.com/bmo-worl ... us-862799/ (the OP is not updating the thread anymore)
NOTE #2: The redemption rates will be much worse come Jan 15, 2018. Each $1 redeemed will require 140 points now, instead of 100 points (which will drop the earn rate to 1.43%, hardly impressive and even worst than the BMO WE CB, WHY BMO WHY). For travel, dining and entertainment purchases, they will earn 3 points per $1 spent starting Jan 15, 2018 for an earn rate of 2.14%. Redemption for merchandise and GC will require 20% fewer points, while redeeming for BMO investments will cost 25% less. You will also be able to redeem points against your statement come Feb 2018, although the redemption rate is not clear (Hint: It will NOT BE good). The only good news is, all points earned prior to Jan 15, 2018 will be topped up to ensure 2% CB on travel. Refer to: https://www.bmo.com/main/personal/credi ... astercard/
Note #3: Starting May 5th, it will take $150 points to redeem $1. This will drop the travel, dining and entertainment cb rate to 2%, and 1.33% on all other purchases on Travel. At least there will be no change to redeeming funds to a BMO account! Also, the BankUP will be downgraded to a better version of the Performance Plan, and will be only waiving $40 on their credit cards instead of $150. Thanks BMO!
Note #4: Priority Pass/Lounge Key will lose the ability to access Plaza Premium lounges start July 1st, 2021. Source: https://princeoftravel.com/blog/priorit ... m-lounges/ It's the final nail to the coffin for this card
Link of card: https://www.bmo.com/main/personal/credi ... astercard/
Let's get to the features:
- Earn 3 BMO Rewards points per $1 spent on restaurants, travel and entertainment (= 2.14% CB in travel, 2% starting May 5th, 2021)
- Earn 2 BMO Rewards point per $1 spent for everything else (= 1.43% CB in travel, 1.33% starting May 5th, 2021)
- 35,000 welcome bonus and FYF if $3000 spent in first three months (= $250 in travel)
- Points can be redeemed against travel through BMO Rewards site/contact center (it will cost $25+tax to use the contact center unless you are price-matching or unable to book through the Rewards site)
- Points can be redeemed for GC/merchandise and BMO Investment/Savings account (15k points for $100 = 1.34% CB)
- Points can also be redeemed as a statement credit towards purchases from the past 30 days (200 points per $1 = 1.00% CB)
- $150 annual fee, can be waived (refer to below)
- $50 per supplementary card per year (cannot be waived)
- Points do not expire if card is kept in use, but they will expire 90 days after card cancellation
- Free Priority Pass standard membership ($99 USD) + 4 free lounge passes ($27 USD per pass) every year
- BMO World Elite Total Travel and Medical Protection: car rental collision damage and out-of-country medical expenses up to $2 million, and unlimited-trips-per-year coverage for trips up to 21 days
- Flight+trip cancellation/interruption/delay insurance, baggage and personal effects benefits
- Approval requirements: Minimum $80,000 (individual) or $150,000 (household) annual income required or $2,100 spending on other credit cards per month
How to waive the annual fee for primary cardholder:
(1) Get the BMO Premium Banking plan: $30 monthly fee or waived with $6000 MBM (AF gets refunded between 2-3 CC statements)
Apply through here: https://www.bmo.com/dst/?PID=MWSDW&MID= ... 099#/intro
(2) Get the BMO Bank Unlimited Plan: You must be a new BMO customer or do not have a BMO bank account/credit card before Jan 1st, 2017 (AF gets waived right away).
RFD Discussion thread: bmo-free-unlimited-bank-account-new-cus ... y-2085669/
Apply through here: https://www.bmo.com/main/personal/bank- ... B4-MGBMO14
NOTE: The plan is not available anymore, and will be downgraded to the Performance Account as of May 2021.
As usual, let me know if I missed anything.
[/img]
Old Design:
NOTE: This is continuation of the original thread: http://forums.redflagdeals.com/bmo-worl ... us-862799/ (the OP is not updating the thread anymore)
NOTE #2: The redemption rates will be much worse come Jan 15, 2018. Each $1 redeemed will require 140 points now, instead of 100 points (which will drop the earn rate to 1.43%, hardly impressive and even worst than the BMO WE CB, WHY BMO WHY). For travel, dining and entertainment purchases, they will earn 3 points per $1 spent starting Jan 15, 2018 for an earn rate of 2.14%. Redemption for merchandise and GC will require 20% fewer points, while redeeming for BMO investments will cost 25% less. You will also be able to redeem points against your statement come Feb 2018, although the redemption rate is not clear (Hint: It will NOT BE good). The only good news is, all points earned prior to Jan 15, 2018 will be topped up to ensure 2% CB on travel. Refer to: https://www.bmo.com/main/personal/credi ... astercard/
Note #3: Starting May 5th, it will take $150 points to redeem $1. This will drop the travel, dining and entertainment cb rate to 2%, and 1.33% on all other purchases on Travel. At least there will be no change to redeeming funds to a BMO account! Also, the BankUP will be downgraded to a better version of the Performance Plan, and will be only waiving $40 on their credit cards instead of $150. Thanks BMO!
Note #4: Priority Pass/Lounge Key will lose the ability to access Plaza Premium lounges start July 1st, 2021. Source: https://princeoftravel.com/blog/priorit ... m-lounges/ It's the final nail to the coffin for this card
Link of card: https://www.bmo.com/main/personal/credi ... astercard/
Let's get to the features:
- Earn 3 BMO Rewards points per $1 spent on restaurants, travel and entertainment (= 2.14% CB in travel, 2% starting May 5th, 2021)
- Earn 2 BMO Rewards point per $1 spent for everything else (= 1.43% CB in travel, 1.33% starting May 5th, 2021)
- 35,000 welcome bonus and FYF if $3000 spent in first three months (= $250 in travel)
- Points can be redeemed against travel through BMO Rewards site/contact center (it will cost $25+tax to use the contact center unless you are price-matching or unable to book through the Rewards site)
- Points can be redeemed for GC/merchandise and BMO Investment/Savings account (15k points for $100 = 1.34% CB)
- Points can also be redeemed as a statement credit towards purchases from the past 30 days (200 points per $1 = 1.00% CB)
- $150 annual fee, can be waived (refer to below)
- $50 per supplementary card per year (cannot be waived)
- Points do not expire if card is kept in use, but they will expire 90 days after card cancellation
- Free Priority Pass standard membership ($99 USD) + 4 free lounge passes ($27 USD per pass) every year
- BMO World Elite Total Travel and Medical Protection: car rental collision damage and out-of-country medical expenses up to $2 million, and unlimited-trips-per-year coverage for trips up to 21 days
- Flight+trip cancellation/interruption/delay insurance, baggage and personal effects benefits
- Approval requirements: Minimum $80,000 (individual) or $150,000 (household) annual income required or $2,100 spending on other credit cards per month
How to waive the annual fee for primary cardholder:
(1) Get the BMO Premium Banking plan: $30 monthly fee or waived with $6000 MBM (AF gets refunded between 2-3 CC statements)
Apply through here: https://www.bmo.com/dst/?PID=MWSDW&MID= ... 099#/intro
(2) Get the BMO Bank Unlimited Plan: You must be a new BMO customer or do not have a BMO bank account/credit card before Jan 1st, 2017 (AF gets waived right away).
RFD Discussion thread: bmo-free-unlimited-bank-account-new-cus ... y-2085669/
Apply through here: https://www.bmo.com/main/personal/bank- ... B4-MGBMO14
NOTE: The plan is not available anymore, and will be downgraded to the Performance Account as of May 2021.
As usual, let me know if I missed anything.