the middle of March 2010 BMO came out with a new MasterCard offering to compete with
the Visa Infinite cards issued by other banks in Canada. Until now BMO has only
offered Gold or Platinum versions of the various MasterCards they issued. One
can assume BMO came out with this card for several reasons. The first is that
BMO needs to keep its higher end clientele from jumping ship from their current
line of cards to the premium Infinite cards offered by banks like CIBC and RBC.
The second reason would be to try and pull some of the current Visa Infinite cardholders
away from those other banks, particularly if they are BMO bankers to start with.
On the redemption side, BMO originally made it tough to find out what the redemption ratios were for travel unless you are an actual cardholder. However this has changed as they let you know now that the card offers a 2% return on your spending (prior to September 2013 it was 1.9%) This positions it near the top of the Travel Points Credit Card category as it matches cards like the Capital One® Aspire Travel™ World MasterCard®, the CUETS World Elite MasterCard and mbna Rewards World Elite MasterCard. The BMO World Elite comes ahead of the TD Visa Cards which have a 1.5% return, Diners Club at 1.7% and many other travel points and hybrid cards at 1%. There does not seem to be a minimum amount of points that you need to redeem at one time so this card can be quite advantageous in redeeming for seat sale fares. As an example, flights between Toronto and Ottawa or Montreal often dip below $50 each way and come in under $200 with taxes which means, you could redeem as little as 20,000 points for the flights (or $10,00 in spending) versus 15,000 with CIBC AeroGold Visas or RBC Avion Visas ($15,000 in spending). When redeeming with this card you want to try to do it online as BMO Rewards will charge you $29.95 for bookings made over the phone.For non-travel redemptions the World Elite MasterCard offers a 1% return (100 points = $1)
is good about this card
What is not so good about
Other cards to consider if you are looking at this