[PROMOTION] 3 Years Fee Waived BMO World Elite MasterCard (expired)

UPDATE- special link might no longer work. See comments.

The Bank of Montreal has a limited time promotion for Grand Cru Supporters where you can get 3 years worth of annual fee waived on the BMO World Elite MasterCard. I would say limited very loosely because the promotional period is between March 19, 2014 and March 19, 2017.

Please note that the regular BMO website does not have the promotion. You need to click on BMO’s special link. But, before continuing with the analysis, below are the highlights of the credit card:

• $150 annual fee (waived the first 3 years if you apply between March 19, 2014 and March 19, 2017, as well as a Grand Cru Supporter)
• No fee for supplementary cardholders
• Earn 40,000 sign up bonus points (only 30,000 on the regular BMO website)
• Earn 2 points for every $1 spent on all purchases
• VIP airport lounge access
• Concierge Service, with 24-hour access to travel, dining, leisure and entertainment recommendations
• Minimum $70,000 (individual) or $120,000 (household) income requirement

First of all, you need to be a Grand Cru supporter. You must apply for this credit card between March 19, 2014 and March 19, 2017 for the annual fee to be waived the first 3 years of having the credit card. Therefore, if you already have this credit card and applied within the time period, just give customer service a call to sort out how to qualify for the promotion.

Every 1 point is worth 1 cent. So you are essentially getting a 2% return on all purchases. These points work like the Capital One World Aspire Travel MasterCard where you can use these points to credit a travel related purchase.

As a cardholder, you will receive a standard Priority Pass membership worth $99 USD plus 4 free VIP lounge visits per membership year (worth $108 USD), which the cardholder can choose the accompanying guests. Not to be confused, basically there are 4 free Priority Pass lounge passes per year.

If you can sort out all the terms and conditions, this is definitely a great promotion to go for.

Personally I still prefer the Capital One World Aspire Travel MasterCard because for a credit card like this, I would prefer to retain the credit card as long as possible. So after the 3 years and the $150 kicks in, I do not find the credit card worth it any more. Though if you can make use of the VIP lounge passes, that can make up for the $150 annual fee. That being said, the $400 sign up bonus is definitely a great deal.