[PROMOTION] BMO World Elite MasterCard (first year fee waived) (expired on June 1, 2014)

Apply for the BMO World Elite MasterCard before June 1, 2014 to have your annual fee waived the first year. Below are the highlights of the credit card:

  • $150 annual fee (waived the first year if you apply before June 1, 2014)
  • Free supplementary cardholders
  • Earn 30,000 sign up bonus points (does not seem to specify how the points will be award)
  • Earn 4 points and up to 25% off rentals at National Car Rental & Alamo Rent A Car locations worldwide
  • Earn 2 points for every $1 spent on all purchases
  • Priority Pass membership, which included 4 free VIP lounge visits per year

In short, this credit card makes sense for people who plan on purchasing cheaper flight tickets or cheaper travel expenses. The reason is because the points are worth 1 cent per point. Which means 30,000 points gives you $300 in travel statement credit cards. You can read more analysis here.

I would still prefer the Capital One Aspire World Travel MasterCard, because it is a lower $120 annual fee and you get 10,000 anniversary bonus points, which brings the annual down to $20 per year.

This BMO World Elite MasterCard can make sense for the first year of having the credit card and if you have an upcoming flight that you need to pay for. Beyond the first year, I would not be willing to pay the steep $150 annual fee unless you can make use of the 4 VIP lounge passes and take advantage of earning 4 points per $1 spent on car rentals at National Car Rental and Alamo Rent A Car. Then maybe you can make the $150 worthwhile.

As usual, do the calculations to see if it’s worth it for you.

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