bmo mastercard travel and medical protection

• How to Choose the Right Credit Card
• How to Apply for a Credit Card
• How to Cancel a Credit Card
• Ways To Pay Off Credit Card Debt
• Why Your Credit Card Was Declined
• How to Get Out of Credit Card Debt
• What to Know About Credit Card Minimum Payments
• What Is a Credit Card and Should You Get One?
• How Do Credit Cards Work in Canada?
• What Are the Different Types of Credit Cards?
• How an International Credit Card Works
• Common Credit Card Terms and Conditions
• Credit Card Fees and Charges

Credit Card Interest Calculator

• First-Time Home Buyer Incentive
• Tax-Free First Home Savings Account
• Home Equity Loan
• How a Reverse Mortgage Works
• Home Equity Line of Credit
• Mortgage Renewal
• Getting a Second Mortgage
• How to Refinance a Mortgage
• How Does Mortgage Interest Work?
• Realtors vs Real Estate Agents vs Brokers
• Is Canada’s Housing Market Crashing?
• Types of Houses in Canada
• First-Time Home Buyer Grants and Assistance Programs
• Types of Mortgages in Canada: Which Is Right for You?
• How Does a Mortgage Work in Canada?

• What Is an Interest Rate?
• Guaranteed Investment Certificate (GIC)
• Savings Account Guide
• Common Canadian Bank Fees and Charges
• Types of Bank Accounts in Canada
• EQ Bank Review
• Simplii Financial Review
• Tangerine Bank Review
• National Bank of Canada Review
• CIBC Review
• Scotiabank Review
• TD Bank Review
• What Is Canadian Investor Protection Fund (CIPF) Coverage?
• How Capital Gains Tax Works
• Investing for Canadian Beginners
• Understanding Asset Classes in Investing
• Understanding Fixed-Income Investments
• How to Invest in Stocks
• What Are T-Bills
• What is a Bond
• What is Registered Disability Savings Plan (RDSP)
• What Are Mutual Funds
• What is an ETF (Exchange Traded Fund)
• What Is Forex Trading
• What Is Cryptocurrency and How Does It Work
• What Is a Stock
• What is Old Age Security and How Does It Work
• What is Registered Retirement Income Funds (RRIFs)
• How a Life Income Fund (LIF) Works for Retirement
• What Is An In-Trust Account
• What Is a Locked-in Retirement Account (LIRA)
• How Much Money You’ll Need To Retire
• Defined Benefit vs. Defined Contribution Pension Plans
• Can Annuities Fund Your Retirement?
• What Is a Personal Loan?
• Personal Loan Insurance: Do You Need It?
• What Is a Secured Personal Loan?
• What Is a Payday Loan?
• What Is a Pawn Loan?
• What Is a Car Title Loan?
• Small Business Loan vs Personal Loan
• Personal Loan vs. Line of Credit
• Personal Line of Credit vs Home Equity Loan:
• Personal Line of Credit vs Car Loan
• HELOC vs Personal Loan
• Debt Consolidation vs Personal Loan
• Cash Advance vs Personal Loan
• Business Loan vs Personal Loan
• Price Matching Tips to Help You Save Big
• How to save for Wedding
• How to Save Money on Groceries
• Ways to Save on Your Next Family Vacation
• Tips to Help You Save On Gas
• How to Save Money in 8 Easy Steps
• Passive Income: What It Is and How to Make It
• Budgeting 101: How to Budget Your Money
• Ways to Make Money Online and Offline in Canada
• How Do Credit Inquiries Work?
• What is the Ideal Credit Utilization Ratio?
• What Credit Score is Needed for a Credit Card?
• How to Get a Better Credit Score
• What is a Good Credit Score in Canada?
• Credit Cards

BMO Ascend World Elite Mastercard Review 2024: Is It Worth It? 

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.

NerdWallet Rating

NerdWallet CA

Great for frequent travellers looking for a flexible rewards program and don’t mind paying an annual fee.

Cardholders can earn 5x BMO Rewards points on eligible travel purchases and enjoy complimentary Mastercard Travel Pass membership, rental car discounts and travel insurance. Learn more about how we evaluate cards .

The BMO Ascend World Elite Mastercard is a rewards credit card with an annual fee of $150. Cardholders can redeem BMO Rewards points for travel bookings, merchandise, investment accounts and more.

BMO Ascend™ World Elite® Mastercard®

• Welcome offer: Get up to 90,000 points and the annual fee waived in the first year for both the primary cardholder and authorized users.*
• 5x the points for every $1 spent on eligible travel purchases,* 3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments,* 1 point for every $1 spent everywhere else.*
• Now get the highest rewards points for travel of any premium flexible travel card in Canada!†
• Complimentary membership in Mastercard Travel Pass provided by DragonPass,* with four annual complimentary passes.
• Access over 1 million Wi-Fi hotspots around the world – all at no added cost, and no added fees or roaming charges.*
• Get valuable benefits and offers for digital everyday services from a variety of on-demand apps and subscription services.
• Points you can use to cover all flight charges & taxes.*
• Fly on any airline, with no blackout dates.*
• Best-in-class travel and medical insurance (unlimited trips per year).*
• BMO Concierge Service.*
• Unlock Mastercard Travel Rewards cashback offers when you travel and shop outside of Canada.
• *Terms and conditions apply.
• †Statement based on a comparison of the redeemable value of the non-promotional travel rewards points earned on premium flexible Canadian credit cards as of May 3, 2022. “Flexible” is defined as points earned when you purchase travel anywhere and “premium” refers to cards with an annual fee of ≤ $150 or has an income requirement of ≤ $150,000 annual individual income.
• BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.
• Full review
• Customer ratings
• Eligibility
• How to apply

BMO Ascend World Elite Mastercard vs BMO AIR MILES World Elite Mastercard

• Rating methodology

BMO Ascend World Elite Mastercard full review

The BMO Ascend World Elite Mastercard earns between one and five BMO Rewards points per CAD spent, depending on the type of purchase you make. The card comes with an impressive suite of travel insurance and perks, such as $5 million in travel medical coverage and four free airport lounge passes per year.

Benefits of the BMO Ascend World Elite Mastercard

• High coverage amount for travel medical insurance ($5 million).
• Annual fee is rebated if you have a BMO Premium Chequing Account. 
• Mastercard Travel Pass membership provided by DragonPass, and four free passes per year.
• 25% discounts at National Car Rental and Alamo Rent a Car.

Drawbacks of the BMO Ascend World Elite Mastercard

As a travel rewards card, the BMO Ascend World Elite Mastercard drawbacks include:

• No hotel burglary insurance. 
• A 2.5% foreign transaction fee on purchases made in other currencies.

Who should get the BMO Ascend World Elite Mastercard?

People who spend big on travel will get the most out of this card’s highest earn rate (5x), free airport lounge membership, travel insurance coverage and rental car discounts.

Is the BMO Ascend World Elite Mastercard worth it?

The BMO Ascend World Elite Mastercard may be worth it if you pay for airport lounge access and insurance when travelling — the card’s free DragonPass membership and four free passes, $99 and $140 USD, respectively, plus the complimentary travel insurance, can save you money. 

BMO customer ratings

• Below average in customer satisfaction: BMO ranks 9th in J.D. Power’s 2023 Canada Credit Card Satisfaction Study.
• Average Trustpilot rating: 2.8 out of 5 possible stars based on more than six customer reviews, as of this writing.
• Low Better Business Bureau rating: 1.03 out of 5 possible stars based on over 360 customer reviews, as of this writing. 

BMO Ascend World Elite Mastercard eligibility

Who qualifies for the bmo ascend world elite mastercard.

To apply for the BMO Ascend World Elite Mastercard, you must:

• Be at least the age of majority in your province or territory.
• Have not declared bankruptcy in the last seven years.
• Have an annual income of at least $80,000 ($150,000 for households). 

Approximate credit score needed for approval

Canadian credit card issuers rarely disclose required credit scores , which makes it hard to know your chances of approval when comparing credit cards. However, higher scores generally mean better chances of approval, and that’s true regardless of the type of credit you’re applying for. Want to learn more? Visit our “ What Credit Score is Needed for a Credit Card? ” page.

BMO Ascend World Elite Mastercard rewards

Earn up to 90,000 BMO Rewards points.

• Get 45,000 points when you spend $4,500 in the first three months. 
• Get another 3,750 points when you spend at least $2,500 each billing cycle (from the fourth and fifteenth month of opening the account), up to 45,000 points. 

Get the first year’s annual fee waived ($150 value).

Offer expires May 31, 2024, as of this writing.

• Earn 5x BMO Rewards points on eligible travel purchases.
• Earn 3x BMO Rewards points on eligible entertainment, dining and recurring bill payments.
• Earn 1x BMO Rewards points on everything else. 

According to the BMO website, 150 BMO Rewards points is worth $1 when redeemed for travel-related purchases. One way to cover the $150 annual fee is by earning roughly 23,000 points per year and using them on travel purchases – a value of $153.

How to apply for the BMO Ascend World Elite Mastercard

Follow the below steps to apply for the BMO Ascend World Elite Mastercard online:

• Click the Apply Now button on the card’s landing page. If you do not have a Canadian address, you will need to book an appointment with the bank and apply in person. 
• Agree to the terms and conditions and click Next. 
• Enter your personal information, such as name, date of birth and contact details. 
• Enter your SIN , if applicable.
• Enter employment details and any other financial information requested. 
• Review and submit your application. 

The online application takes roughly seven minutes to complete.

If you’re looking for a travel credit card from BMO but aren’t married to the idea of BMO Rewards points, you might consider the BMO AIR MILES World Elite. The cards have similar annual fees, but differ in the rewards they earn. While BMO Rewards points can be redeemed for travel bookings and merchandise, as well as used to fund investment accounts and pay for purchases, AIR MILES can be redeemed for cash rewards, merchandise and travel bookings.

Reasons you might want a different card

You may want to consider a different card if you:

• Typically carry a balance and want a lower interest rate. 
• Do not travel regularly enough to benefit from the card’s travel earn rates and perks.
• Want to earn a different type of reward, such as airline miles . 
• Earn less than $80,000 per year ($150,000 for households).

BMO Ascend World Elite Mastercard facts

Methodology to choose the best rewards credit cards.

NerdWallet Canada selects the best rewards credit cards based on overall consumer value as well as their suitability for specific kinds of consumers. Factors in our  evaluation methodology  include each card’s cash-back earning rates, rewards structure (such as flat-rate or bonus categories), annual fee, redemption options, promotional APR period for purchases, bonus offers for new cardholders, and noteworthy features such as insurance, loyalty bonuses or the ability to choose one’s own rewards categories.

About the Author

Georgia Rose is a lead writer on the international team at NerdWallet. Her work has been featured in The Washington Post, The New York Times, The Independent and The Associated…

DIVE EVEN DEEPER

23 Best Credit Cards in Canada for April 2024

NerdWallet Canada’s picks for the best credit cards include top contenders across numerous card categories. Compare these options to find the ideal card for you.

Interest charges don’t need to be a mystery. Use our credit card interest calculator to see how much interest you’d owe if you carry a credit card balance.

Best BMO Credit Cards in Canada

The best BMO Bank credit cards in Canada include a variety of no-fee Mastercards, several Visa Infinite options, and co-branded travel credit cards that earn Air Miles.

9 Best Mastercard Credit Cards in Canada for April 2024

The best Mastercard credit cards offer a diverse array of rewards, including cash back, Air Miles, points and more.

BMO Air Miles World Elite Mastercard Review for 2023

By Heidi Unrau | Published on 10 Aug 2023

There are Air Miles, and then there are World Elite Air Miles. The BMO Air Miles World Elite Mastercard has one of the best Air Miles earn rates of all the credit cards in Canada and offers all the exclusive VIP travel perks you’d expect from an elite credit card. This card offers great flexibility to those who love to travel and shop. Additional perks and benefits ensure all your bases are covered whether your shopping, travelling, or both. 

Annual Fee: $120, waived the first year

Welcome Offer: 2,000 bonus Air Miles when you spend $3,000 in the first 3 months

Interest Rates: 20.99%, Cash advances 23.99%, Quebec Residents 21.99%

Air Miles Earn Rate: 1 mile for every $12 spent on every card purchase

Additional Card: $50

Min. Income Required: $80,000 annual personal income or $150,000 annual household income

BMO Air Miles World Elite Mastercard Welcome Offer

Travel credit card lovers are welcomed to BMO with up to 2,000 bonus Air Miles when you sign up and spend $3,000 in the first 3 months. They’ll also waive the annual fee of $120 for your first year. New and returning cardholders also get a special offer for Apple Music.

Elite Travel Benefits at a Glance

The BMO Air Miles World Elite Mastercard is loaded with travel perks and benefits, and with bmorewards.com you can easily cash out your rewards or book and redeem travel, anytime, anywhere without restrictions. You can also book discount flights, hotels, and rental cars, or even plan your entire vacation from the website. Other travel benefits include, but are not limited to:

• Earn a 15% flight discount on all AIR MILES flights in North America with no blackout periods
• Earn 2X the reward miles at National Car Rental
• Complimentary MasterCard Airport Experiences with access to over 850 VIP lounges
• Two annual complementary LoungeKey passes
• Earn up to a 25% discount at participating National Car Rental and Alamo Car Rental locations
• Free trip cancellation insurance
• Free purchase protection against theft or damage for 90 days

Earning Air Miles at a Glance

BMO offers one of the largest loyalty programs in Canada, and that means you earn more miles on everyday purchases at national retailers such as Costco, Staples, Transat, and Shell. You can also earn miles at participating grocery stores. Here’s the numbers on your Air Miles rewards:

• Earn 1 mile for every $12 in credit card purchases
• Earn 3x the miles when you use your card at participating Air Miles partners
• Earn additional Air Miles for purchases charged to Supplementary Cards.
• Earn more Air Miles when retailers run Mega Miles promotions
• Double dip Air Miles rewards when you use your BMO Air Miles World Elite Mastercard and show your Air Miles membership card

Air Miles Reward Flexibility

The Air Miles program is one of Canada’s biggest and most loved rewards programs. Not only does the BMO Air Miles World Elite Mastercard help you earn them faster, Air Miles can be redeem in different ways  based on your preferences. If you’re an avid traveler, you’ll want to focus on earning Dream Miles that can be redeemed for travel expenses like flights, hotels, car rentals as well as merchandise and gift cards. If you’re less into travel and more into free stuff and discounts, you’ll want to focus on earning Cash Miles that can be used for in-store purchases at Air Miles partner retailers, as well as travel.

Be careful though, when a reward is earned in one category, like Dream Miles, you can’t transfer it to the other category, like Cash Miles. When you get your BMO Air Miles World Elite Mastercard , make sure you also set up an Air Miles account on the airmiles.ca website. There, you can choose how you earn miles in each category, like splitting them equally or something like 75% to one category and 25% to the other. You have a lot of flexibility to decide what’s more important to you here: discount travel, or discount stuff.  Keep in mind that Dream Miles have a higher conversion value when you redeem them to book flights and eligible travel expenses.

Additional Travel Perks of the BMO Air Miles World Elite Mastercard

BMO Air Miles World Elite Mastercard offers travel insurance and medical protection insurance on bookings are made with the card. Customers under 65 will automatically get emergency medical protection up to $2 million when they travel of the province or country for 15 days. You’ll also get a Collision Damage Waiver when you rent a car with your BMO Air Miles World Elite Mastercard . You’ll also get access to Trip Assistance Services like emergency cash transfers, lost document and ticket replacement, help with lost luggage, and pre-trip information.

Additional travel benefits include trip cancellation, interruption, and delay coverage, benefits for delayed or lost baggage, coverage for damage to qualified personal effects from theft or damage to your rental car, legal assistance, and more.

When you book flights with your BMO Air Miles World Elite Mastercard you’ll get a complimentary Mastercard Airport Experiences membership provided by LoungeKey, which gives you access to air port lounges. You’ll also get a complimentary Boingo account giving you free access to over a million Wi-Fi Hotspots around the world. 

BMO Air Miles World Elite Mastercard also offers cardholders exclusive cash back offers when they shop with partners around the world. You’ll continue to earn Air Miles rewards anywhere in the world when you use your card to shop, dine, and unwind with their partner merchants while travelling abroad.

New BMO Air Miles World Elite Mastercard customers get will get Apple Music free for the first 4 months. Return customers will get 3 months free, but current cardholders are not eligible for this offer. Apple Music gives you access to 90 million songs that you can listen to across all your devices.

Available Add-ons for your BMO Air Miles World Elite Mastercard

Customize the card to fit your needs. The BMO Air Miles World Elite Mastercard offer a la carte add-on’s to added security and to help you get the most of your card. There are 4 additional features you can add to your card, each for a monthly subscription fee:

• Credit Alert costs $19.99 a month to help protect you against identity theft and fraud. You’ll get quarterly credit report summaries, an update credit score every month, alerts when there is activity on your report, and additional support.
• BMO Roadside Assistance is $69 per year for the basic package or $98 per year for the enhanced package. You’ll get access to free emergency calls and tow truck services anywhere in North America for non-commercial passenger cars.
• InfoProtector360 is $9.99 and protects all your personal information and important documents whether you’re home or traveling abroad. Lost Wallet Protection will cancel all your cards and offer identity fraud support. Information Protection backs up your important personal information and documents so they can be accessed from anywhere in the event of an emergency. It also monitors and sends alerts if your information is being used in the public domain. Travel Protection provides resources and alerts about your travel destinations.
• Balance Protection costs $1 per $100 of your credit card balance. Covers your balance up to $20,000 and protects your credit in the event you are unable to work from a job loss, disability, or death.

Digital Features and Security

Use the BMO mobile app to have full control over your BMO Air Miles World Elite Mastercard . From the app, you can report your card lost or stolen, lock it, unlock it, and even reset your Personal Identification Number (PIN). Keep track of your spending, balance, dispute a transaction, and even get 24/7 access to your credit score through CreditView.

The BMO Air Miles World Elite Mastercard offers zero liability protection if you suffer a monetary loss from the unauthorized use of your card. Online purchases include an identity check. You’ll also get alerts on suspicious activity and large purchases.

 BMO Air Miles World Elite Mastercard Rating

Benefits and perks.

• 15% flight discount when you book with Air Miles
• Air Miles can book any flight(s) in North America with no blackout periods
• Air Miles high conversion rate when redeemed for flights
• Earn 2X the rewards at select car rental companies
• Earn 3X the rewards at Air Miles partner retailer
• Double dip rewards with BMO Air Miles World Elite Mastercard and your Air Miles membership card
• Stack Air Miles rewards with Mega Miles events
• Earn additional AIR MILES points for purchases charged to Supplementary Cards
• Free 24/7 BMO Concierge Service
• 2 Complimentary Lounge Passes
• 12 other insurance coverage benefits and protections
• Discounts and exclusive offers on dining & entertainment
• Access to over 1 million Wi-Fi hotspots around the world
• Apple Music free for 4 months
• App with self-serve security features
• Customize card to your needs with optional add-ons

FAQ about BMO Air Miles World Elite Mastercard

As a new BMO AIR MILES World Elite Mastercard cardholder, you will receive a welcome offer of 2 000 AIR MILES points when you spend $3,000 in the first three months. In addition, the $120 annual fee is waived for the first year.

All BMO AIR MILES World Elite Mastercard holders receive complimentary membership to the Airport Experiences MasterCard program, which provides access to over 850 VIP lounges.

AIR MILES points can be redeemed in a variety of ways. If you’re a frequent traveler, you can focus on earning Dream Miles, which can be redeemed for travel expenses like flights, hotels and car rentals. If you’re less interested in travel, you can focus on Silver Miles, which can be used for in-store purchases.

Heidi Unrau

• Travel Insurance
• BMO Travel Insurance Review

The Forbes Advisor editorial team is independent and objective. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive payment from the companies that advertise on the Forbes Advisor site. This comes from two main sources.

First , we provide paid placements to advertisers to present their offers. The payments we receive for those placements affects how and where advertisers’ offers appear on the site. This site does not include all companies or products available within the market.

Second , we also include links to advertisers’ offers in some of our articles. These “affiliate links” may generate income for our site when you click on them. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impact any of the editorial content on Forbes Advisor.

While we work hard to provide accurate and up to date information that we think you will find relevant, Forbes Advisor does not and cannot guarantee that any information provided is complete and makes no representations or warranties in connection thereto, nor to the accuracy or applicability thereof.

BMO Travel Insurance Review 2024

Updated: Jan 9, 2024, 2:20pm

Bank of Montreal (BMO) has been a key player in the Canadian financial landscape for over 200 years. With a reputation for delivering high customer satisfaction in retail banking advice, it’s actually surprising that BMO’s travel insurance offering isn’t more robust. With no age limits and an easy quote interface, BMO offers basic coverage for medical emergencies and trip cancellation/interruption, but the payouts are lower than other plans for about the same cost.

• Easy online quote process
• Three simple plans
• No maximum age
• Automatic family coverage
• Expensive for coverage provided
• Lower limits than other plans
• No flight or travel accident coverage
• Must be a BMO client to be eligible

Table of Contents

About bmo travel insurance, what travel insurance does bmo offer, bmo insurance travel insurance plans, summary: plan comparison, bmo travel insurance cost, comparing cibc travel insurance with other insurers, optional add-ons for bmo travel insurance, does bmo travel insurance offer any discounts, does bmo offer annual multi-trip plans, bmo travel insurance 24/7 travel assistance, does bmo travel insurance have cancel for any reason (cfar), does bmo travel insurance have interruption for any reason (ifar), bmo travel insurance and pre-existing medical conditions, bmo travel insurance exclusions, bmo travel insurance eligibility, how to file a claim with bmo travel insurance.

Bank of Montreal (BMO) is the eighth largest bank in North America with total assets of $1.29 trillion as of October 2023. Founded in Montreal in 1817 and now headquartered in Toronto, BMO provides personal and commercial banking, global markets and investment banking services to over 12 million customers. In Canada, BMO Financial Group operates through several divisions, including BMO Bank of Montreal , BMO Harris Private Banking, BMO Nesbitt Burns and BMO Capital Markets.

BMO Travel Insurance is underwritten by CUMIS General Insurance Company, a member of The Co-operators group of companies and administered by Allianz Global Assistance.

Here are the key types of travel insurance coverage offered in BMO plans:

• Emergency medical insurance: If you get ill or are injured on your trip, travel medical insurance can pay for emergency medical expenses, up to the coverage limits in your plan. These expenses can include doctor and hospital bills, medication and lab work, as well as medical evacuations, repatriation and arranging for a bedside companion if you are hospitalized.
• Trip cancellation insurance: If you cancel a trip for a reason listed in your travel policy, such as you or your travelling companion becoming ill, weather conditions cause a massive delay or you lose your job, trip cancellation insurance can reimburse you for prepaid, non-refundable costs.
• Travel interruption or delay insurance: Trip interruption insurance can pay for a last-minute flight home in an emergency and reimburse money that you lose by cutting a trip short due to a covered reason, including non-refundable activities and hotel stays. If your flight is delayed , your insurance can cover the cost of incidentals, such as meals or accommodations, after a specified period of time, such as six, 10 or 12 hours.
• Baggage insurance: Baggage travel insurance can compensate you up to your policy limits if your luggage is lost or stolen. It will reimburse the depreciated value of your suitcases and what you packed. If your bags are delayed, it can reimburse you for the cost of the necessities you’ll have to buy to tide you over. It also extends to your personal belongings, if they are lost, damaged or stolen.

BMO Travel Insurance offers three core plans for travelling outside of Canada.

Premium Travel Plan: This is the most comprehensive plan offered by BMO. It includes coverage for unforeseen medical emergencies, trip cancellation and interruption, and baggage and personal effects insurance, but does not include flight and travel accident coverage, or accidental death and dismemberment coverage.

Emergency medical treatment includes:

• Hospital accommodation up to a semi-private room and/or treatment expenses in an intensive care unit or coronary care unit
• Treatment by a physician
• X-rays and other diagnostic tests
• Use of an operating room, anaesthesia and surgical dressings
• The cost of a licensed ambulance service
• Emergency room charges
• Prescription drugs and medication, up to a 30-day supply
• Rental or purchase of minor medical appliances, such as a wheelchair or crutches
• Private duty nursing, up to $5,000
• Emergency air transportation or evacuation
• Paramedical services, such as care from a chiropractor, osteopath, physiotherapist, chiropodist or podiatrist, up to $150 per profession
• Emergency dental due to a blow to the face, up to $2,000
• Emergency dental due to pain, up to $150

Medical benefits also include coverage to bring someone to your bedside, expenses for meals, hotel accommodations and associated expenses if you are hospitalized and/or if a medical delay prevents you from returning home, repatriation expenses and return of your remains if you die.

Travel Medical Plan: If you’re only worried about medical emergencies while travelling, this benefit offers all of the medical coverage listed above.

Trip Protection Plan: This coverage option reimburses you for insured non-refundable travel expenses (such as hotels or prepaid excursions) if you have to cancel, interrupt, or delay your trip due to a covered reason. This benefit also includes baggage and personal effects coverage, but does not include flight and travel accident coverage, or accidental death and dismemberment coverage.

We’ve highlighted the key benefits of BMO travel insurance for the single trip plans to help you identify which coverage is the best fit for you.

The price of a BMO Insurance travel insurance plan depends on factors such as the cost of your trip, your age, your answers to a medical questionnaire (if required) and the amount of coverage you choose.

BMO offers individual coverage and family coverage. Dependent children are automatically covered under a family plan to parents who are under the age of 60. A dependent child must be:

• 20 years old or less, or
• 25 years old or less and a full-time student, or
• 21 years old or more and be permanently mentally or physically challenged and incapable of self-support

Here are some examples of the cost for BMO travel insurance single trip plans for healthy travellers based in Ontario, including taxes. In these sample quotes, each traveller is quoted separately as the family coverage is more expensive.

For example, using the sample quote (below) for the couple, age 27, travelling to Mexico, the cost per traveller is $106.69 for the Premium Travel Plan. If each traveller purchases separate insurance, the cost is $213.38 for both. The cost for two adults travelling under the Premium Travel family plan is $325.14.

CIBC Travel Insurance

Emergency medical: $10 million Cancel For Any Reason: No Baggage insurance (maximum): $2,000

Related: CIBC Travel Insurance Review

• TD Bank Travel Insurance

Emergency medical: $5 million Cancel For Any Reason: No Baggage insurance (maximum): None

Related: TD Bank Travel Insurance Review

RBC Insurance

Emergency medical: Unlimited Cancel For Any Reason: No Baggage insurance (maximum): $1,000

Related: RBC Insurance Travel Insurance

BMO does not offer additional add-ons, endorsements or upgrades for its travel insurance.

Yes. You can buy multi-trip annual insurance if you travel more than once a year for multiple individual trips. BMO offers an Annual Multi-Trip Emergency Medical Plan that covers you for four, 10 or 23 days per trip. You must be under the age of 75 to purchase an annual plan.

Worldwide emergency travel assistance is available 24/7 by calling BMO’s claims and assistance partner Allianz Global Assistance. When you have a travel emergency, depending on your coverage, the following support may be available:

• Referral to the nearest appropriate medical facility
• Offering guarantee of coverage for medically necessary treatment or assistance in arranging and coordinating payment
• Coordinating claims with your provincial or territorial insurance plan
• Emergency messaging services to your family, business or physician
• Emergency cash transfer services
• Replacing lost or stolen airline tickets
• Referral to a local legal advisor
• Coordinating bail bond services and the payment of legal fees, to a maximum of $5,000

You must contact Allianz Global Assistance through the Operations Centre before receiving medical treatment or your benefits may be limited, delayed or denied. If you don’t contact the Operations Centre as soon as possible and you receive medical treatment, you may also be responsible for paying all bills out of pocket and then submitting a claim after you return home. In addition, if you don’t notify the Operations Centre early in the claims process, you may receive inappropriate or unnecessary treatment that may not be covered by your insurance.

Allianz Global Assistance also provides non-emergency trip services, such as:

• Passport and visa information
• Health hazards advisory
• Inoculation requirements
• Weather information
• Currency exchange information
• Consulate and embassy locations

In general, a pre-existing condition is defined as any sickness, injury or medical condition that existed before the start of your coverage, whether or not diagnosed by a physician, that you showed signs or symptoms of or received medical attention for.

With a BMO travel insurance policy, any pre-existing conditions must be stable for 90 or 180 days, depending on your age, before the start of your policy to be eligible for coverage.

According to BMO, a medical condition is considered stable when all of the following are true:

• There has been no new treatment.
• There has been no change in treatment or change in treatment frequency or type.
• There have been no signs, symptoms or new diagnosis.
• There have been no test results showing deterioration.
• There has been no hospitalization.
• There has been no referral to a specialist (made or recommended) and you are not awaiting surgery or the results of further investigations performed by any medical professional.

Depending on the medical condition, BMO may also stipulate a pre-existing condition exclusion regardless of whether the medical condition has been stable or not.

In addition to pre-existing condition exclusions, there are a number of scenarios not covered by travel insurance and it’s critical to know what not to do before you make a claim. The following are general exclusions to coverages provided by BMO travel insurance:

• Pregnancy, miscarriage, childbirth or complications of any of these conditions within nine week of your expected due date
• Riot or civil disorder, acts of war, rebellion, revolution, act of terrorism or service in the armed forces
• Committing or attempting to commit a criminal offence
• Intentional self-injury, suicide or attempted suicide
• Abuse of any medication or non-compliance with prescribed medical treatment or therapy
• Mental, nervous or emotional disorders
• An injury or accident while you are under the influence of illicit drugs or alcohol
• Any chronic illness or hospitalization related to or exacerbated by the habitual use of alcohol or illicit drugs
• Participation in professional sports, any speed contest, scuba diving without certification, hang-gliding, skydiving, parachuting, bungee jumping, parasailing, spelunking, mountain climbing, rock climbing, or a flight accident, except as a passenger in a commercially-licenced aircraft
• Nuclear reaction or radiation
• Radioactive, biological or chemical contamination
• Seepage, pollution or contamination
• Any trip taken against medical advice
• Failure of any travel supplier if, at the time of booking, the supplier is in bankruptcy, insolvency or receivership
• Failure or any travel agency, agent or broker
• Non-presentation of travel documents, such as visa, passport or inoculation/vaccination reports
• The death or serious illness of a person when the purpose of the trip is to provide care for that person
• Travel to any country, region or city with a Level 3 (Avoid non-essential travel) or Level 4 (Avoid all travel) travel advisory issued by the Canadian government if you have an emergency or medical condition related to the advisory
• Travel to any sanctioned country that would violate any economic or trade sanction laws
• Any cyber risks

There may be additional exclusions specifically for medical, trip cancellation/interruption/delay and baggage coverage.

To be eligible for BMO Travel Insurance you must be:

• A BMO Financial Group client
• A Canadian resident
• Insured for benefits under a Canadian government health insurance plan during the entire coverage period

You are not eligible for coverage if you:

• Require assistance with any of the following as a result of a medical condition or state of health: Eating, bathing, using the toilet, changing positions (including getting in or out of bed or a chair) or dressing

You can file a claim 24/7 by visiting the Allianz Global Assistance online claims portal or by calling the Operations Centre for a hard copy of the claims form.

If you are making an emergency medical claim, documentation may include (but is not limited to):

• Any explanation of diagnosis(es) along with original itemized bills and receipts
• Your valid provincial or territorial health card number
• Authorization to secure medical records
• Proof of departure dates and your scheduled and actual return dates

For a trip cancellation/trip interruption/trip delay claim, you may be asked to provide:

• Any appropriate documentation that officially explains the cause of your trip cancellation, delay or interruption
• The report of your physical examination and any explanation of diagnosis, along with original itemized bills, receipts and proof of other insurance payments
• Certified death certificate
• Original unused tickets, copies of invoices, proof of payments, other documents that substantiate the cost or occurrence of the trip cancellation, delay or interruption
• Documentation of refunds received from the travel supplier(s) or common carrier(s)
• Copy of the supplier’s literature that describes the penalties
• A letter from the tour operator or an itemized bill from the travel agent stating the non-refundable amount of the trip cost

If you are making a baggage insurance and personal effects claim, you may need to provide:

• Original claim documentation from the common carrier
• Original police report or other report by local authorities
• Original receipts and list of stolen, lost or damaged items
• Statement of loss providing amount of loss, date, time and cause of loss

If you are making a flight delay insurance claim, you may need to provide:

• Original police, common carrier or other report that verifies that cause and duration of the delay
• Original itemized receipts

BMO Travel Insurance FAQs

Does bmo travel insurance pay for medical costs upfront.

According to the company, “Whenever possible, Allianz Global Assistance will arrange billing directly with the health providers our members visit. However, international borders can sometimes limit our ability to do so. It is always a good idea to bring an extra reserve of funds in case any unexpected emergencies occur where advance payment is required. If access to emergency funds is needed to cover these expenses, the Travel Assistance Service, provided by Allianz Global Assistance, is there to help.”

Does BMO Travel Insurance offer coverage extensions?

Yes. Your coverage is automatically extended for up to three days if you miss your scheduled return date if your transportation home is delayed or involved in an accident or mechanical breakdown. If you are hospitalized, your coverage is extended for the period of hospitalization, plus up to three days after discharge. Your coverage is also automatically extended for three days if you have to delay your scheduled return due to a delay of a travelling companion or family member.

If you want to stay longer on your trip, you can extend your coverage if you apply before the expiry date of your policy and no event has occurred that would cause you to make a claim.

Does BMO Travel Insurance cover COVID-19?

Yes. Medical expenses related to COVID-19 will be covered if you get sick on your trip, as long as there is no Level 3 COVID-19-related travel advisory (Avoid all non-essential travel) or Level 4 travel advisory (Avoid all travel) for your destination or type of travel (for example, cruises) on the effective date of your coverage.

If you have trip cancellation insurance benefits, needing to cancel your trip before you leave due to getting sick with COVID-19 is covered. However, as COVID-19 is a known event, if the Government of Canada reinstates a Level 3 or Level 4 travel advisory, cancelling your trip is not covered. This applies even if you are travelling for essential reasons or you purchased your insurance before the travel advisory was reinstated.

If you get sick with COVID-19 while travelling to a destination that has no Level 3 or Level 4 COVID-19-related travel advisory in effect, you are eligible for trip interruption benefits. However, once a travel advisory is declared, you are no longer eligible for benefits.

Does BMO Travel Insurance require a medical questionnaire?

Yes. Travellers aged 60 or over are required to complete a health questionnaire.

Does BMO Travel Insurance have any age restrictions?

There are no noted age restrictions.

When does my coverage with BMO Travel Insurance begin?

In general, if you purchase cancellation coverage, it begins the day you buy your policy and ends the day when you make a claim or leave on your trip. Your medical and interruption coverage, if purchased, begins when you leave home. Your delay coverage begins once an insured risk prevents you from returning home as scheduled.

Does BMO Travel Insurance offer a free look period?

Yes. You have 10 days after purchase to review and return the certificate for a full refund, as long as you have not left on your trip and a claim has not been incurred.

Can I get a refund with BMO Travel Insurance?

After the 10 day “free look” period, a refund will only be issued before you leave for your trip or if your trip is cancelled before your departure date and:

• You cancel your trip before any penalties come into effect.
• Your travel supplier cancels your trip and all penalties are waived.
• Your travel supplier changes the travel dates and you are not able to travel on those dates and all penalties are waived.

Fiona Campbell is a Staff Writer for Forbes Advisor Canada. She started her career on Bay Street, but followed her love for research, writing and a good story into journalism. She is the former editor of Bankrate Canada, and has over 20 years of experience writing for various publications, including the Globe and Mail, Financial Post Business, Advisor’s Edge, Mydoh.ca and more.

• Goose Travel Insurance Review
• CAA Travel Insurance Review 2023
• TuGo Travel Insurance Review
• Blue Cross Travel Insurance
• Manulife Financial CoverMe Travel Insurance
• World Nomads Travel Insurance Review
• Medipac Travel Insurance Review
• RBC Insurance Travel Insurance
• TD Insurance Travel Insurance Review
• Johnson MEDOC Travel Insurance
• Allianz Global Assistance Travel Insurance
• CUMIS Travel Insurance Review
• AMA Travel Insurance
• GMS Travel Insurance Review
• CIBC Travel Insurance Review
• Desjardins Travel Insurance Review
• Travelance Travel Insurance
• Scotia Travel Insurance Review
• How To Get Pre-Existing Conditions Covered By Travel Insurance
• Should You Buy Travel Insurance And Is It Worth It?
• Why Travel Medical Insurance Is Essential

Do I Need Travel Insurance When Travelling Within Canada?

• Trip Cancellation Travel Insurance
• How To Get Reimbursement For A Travel Insurance Claim
• Do Canadian Travellers Need Schengen Visa Insurance?
• How Travel Insurance Works For Baggage
• How To Travel To The U.S. From Canada
• Do You Need Annual Multi-Trip Travel Insurance?
• Travel Insurance For Trips To Europe
• What Travel Insurance Does Not Cover
• Top 10 Travel Insurance Tips For 2023
• Travel Insurance For A Mexico Vacation
• How To Read The Fine Print Of Your Travel Insurance Policy
• 5 Top Tips For Handling Flight Cancellations Like A Pro
• What Does Travel Delay Insurance Cover?
• Advantages Of Buying Travel Insurance Early
• Travel Insurance For U.K. Trips
• Travel Insurance For Trips To Italy

More from  

$10 etias travel pass for europe visits pushed to 2025, what’s the purpose of an etias travel authorization, bcaa travel insurance review 2024, pacific blue cross travel insurance review 2024, cumis travel insurance review 2024.

Need help? We’re always here when you need us

Bmo credit cards, bmo cashback® mastercard®*.

• Welcome offer: Get 5% cash back in your first 3 months*
• Then get 3% cash back on grocery purchases, 1% cash back on recurring bill payments and 0.5% unlimited cash back on all other purchases!*
• Now earn the highest cash back on groceries in Canada without paying an annual fee!✝
• Get a 0.99% introductory interest rate on Balance Transfers for 9 months, 2% fee applies to balance amounts transferred.*
• No Annual fee*
• Want to get your cash back ASAP? Now you can redeem your cash back anytime through direct deposit, as a credit on your statement or into your BMO InvestorLine account*
• Extended Warranty*
• Purchase Protection*
• Receive a discount on car rentals*
• BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information
• *Terms and conditions apply
• ✝Based on a comparison of the non-promotional grocery rewards earn rate on cash back credit cards with no annual fee as of January 4, 2023.

BMO Preferred Rate Mastercard®*

• Welcome Offer: Get a 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee and we’ll waive the $29 annual fee for the first year*
• Enjoy our lowest interest rate of 13.99% on purchases*
• Free extended warranty and purchase protection*
• Zero Dollar Liability: protects you from unauthorized use of your credit card*
• Worldwide acceptance at over 30 million locations*

BMO Ascend™ World Elite®* Mastercard®*

• Welcome offer: Get up to 90,000 points and the annual fee waived in the first year for both the primary cardholder and authorized users.*
• 5x the points for every $1 spent on eligible travel purchases,* 3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments,* 1 point for every $1 spent everywhere else.*
• Now get the highest rewards points for travel of any premium flexible travel card in Canada!✝
• Complimentary membership in Mastercard Travel Pass provided by DragonPass,* with four annual complimentary passes.
• Access over 1 million Wi-Fi hotspots around the world – all at no added cost, and no added fees or roaming charges*
• Get valuable benefits and offers for digital everyday services from a variety of on-demand apps and subscription services
• Points you can use to cover all flight charges & taxes*
• Fly on any airline, with no blackout dates*
• Best-in-class travel and medical insurance (unlimited trips per year)*
• BMO Concierge Service*
• Unlock Mastercard Travel Rewards cashback offers when you travel and shop outside of Canada
• ✝Statement based on a comparison of the redeemable value of the non-promotional travel rewards points earned on premium flexible Canadian credit cards as of May 3, 2022. “Flexible” is defined as points earned when you purchase travel anywhere and “premium” refers to cards with an annual fee of ≤ $150 or has an income requirement of ≤ $150,000 annual individual income.

BMO CashBack® Mastercard®* (Student)

• Welcome offer: Get 5% cash back in your first 3 months*
• Get cash back every time you spend, plus start building a healthy credit history
• Best BMO CashBack Mastercard for Students

BMO AIR MILES® Mastercard®*

• Welcome offer: Get 800 AIR MILES Bonus Miles!* That’s enough for $80 towards purchases with AIR MILES Cash*
• Get 3x the Miles for every $25 spent at participating AIR MILES Partners and 2x the Miles for every $25 spent at any eligible grocery store*.
• Get 1 Mile for every $25 spent everywhere else*
• Use your BMO AIR MILES Mastercard and AIR MILES Collector Card at an AIR MILES Partner to earn Reward Miles from both*
• No annual fee*

BMO U.S. Dollar Mastercard®*

• The ideal way to travel and shop – or buy online – from U.S. retailers
• Shop with no exchange rate surprises.
• Fee Rebate offer: Spend just $1,000 USD in one year on your card, and the annual fee for the following year is on us*

BMO AIR MILES® World Elite®* Mastercard®*

• Welcome offer: Get 2,000 AIR MILES Bonus Miles and we’ll waive the $120 annual fee for the first year*.
• Get 3x the Miles for every $12 spent at participating AIR MILES Partners and 2x the Miles for every $12 spent at any eligible grocery store*.
• Earn 1 reward mile for every $12 in credit card purchases, everywhere you spend*
• Use your card at Costco*
• Extended Warranty
• Complimentary membership in Mastercard Travel Pass provided by DragonPass.*
• Use less Miles with our exclusive 25% discount on one worldwide AIR MILES flight redemption during the calendar year.*
• BMO AIR MILES World Elite Travel and Medical Protection*

BMO CashBack® World Elite®* Mastercard®*

• Welcome offer: Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first year*
• Earn more cash back on the categories that mean the most:
• 5% on groceries*
• 4% on transit including ride sharing, taxis and public transportation*
• 3% on gas and electric vehicle charging*
• 2% on recurring bill payments like your monthly phone bill or favourite streaming service*
• 1% unlimited cashback on all other purchases*
• Get the highest cash back earn rate on groceries in Canada.*
• Extended Warranty Plus*
• Purchase Protection Plus*
• Complimentary membership in Mastercard Airport Experiences provided by LoungeKey*
• Complimentary Roadside Assistance Program*
• BMO CashBack World Elite Travel and Medical Protection*
• ✝Statement based on a comparison of the non-promotional grocery rewards earn rate on Canadian cash back credit cards as of January 4, 2023.

BMO AIR MILES® Mastercard® (Student)

• Get AIR MILES back every time you spend, plus start building a healthy credit history
• Best BMO AIR MILES Mastercard for Students

Advertiser Disclosure

Many of the card offers that appear on this site are from companies from which we receive compensation. This compensation may impact how and where products appear on the site, including for example, the order in which they appear within listing categories. This site does not include all credit card companies or all card offers available in the marketplace.

BMO Total Travel and Medical Protection

• Download HTML
• Download PDF

• Health & Fitness

• Uncategorized

• IT & Technique

• Home & Garden

• World Around

• Current Events

• Style & Fashion

• Cars & Machinery

This browser is not supported. Please use another browser to view this site.

• Credit cards
• Newcomers to Canada
• ETF finder tool
• Best crypto
• Couch potato
• Fixed rates
• Variable rates
• Mortgage payment calculator
• Income property
• Renovations + maintenance
• Compound interest calculator
• Household finances
• Find a Qualified Advisor Tool
• Monthly budget template
• ETF Finder Tool
• Student money
• First-time home buyers
• A Guide For New Immigrants
• Best dividend stocks
• Best online brokers
• Where to buy real estate
• Best robo-advisors
• Making sense of the markets
• Ask a Planner
• A Rich Life
• Interviews + profiles
• Retired Money

The best BMO credit cards in Canada for 2024

Discover the best of BMO’s credit card offerings, including recommended cards for travellers and students, as well as the most attractive no-fee, cash back and low APR cards.

Why trust us

MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings from over 12 major institutions, including banks, credit unions and card issuers. Learn more about our  advertising and trusted partners .

The best BMO credit cards in Canada by category

By Sandra MacGregor on March 1, 2024 Estimated reading time: 10 minutes

The Bank of Montreal is one of Canada’s largest banks, and it offers one of the largest selections of personal credit cards in the country. Whether you’re a student looking for your first credit card or to establish a credit history, or a frequent flyer wanting a card packed full of travel perks, BMO has something for you. BMO is also the only Big 5 bank to offer co-branded credit cards with the popular Air Miles rewards program, making them a great fit for Air Miles collectors.

Best BMO no-fee credit card

Bmo cashback mastercard.

• Annual fee:  $0
• Earn rates: 3% cash back on groceries (on the first $500 per month), 1% on recurring bills; 0.5% on everything else
• Welcome bonus: earn up to 5% cash back in your first 3 months. Conditions apply.
• Annual income requirement:  None
• Recommended credit score for approval: 660 or higher
• Additional perks: Purchase protection and extended warranty; discounts at Avis and National Car Rentals; discount Cirque du Soleil performances; add authorized cardholders at no charge
• Interest rates:  20.99% on purchases, 22.99% on cash advances, (21.99% for residents of Quebec), 22.99% on balance transfers

At a glance: The BMO CashBack Mastercard stands out for offering 3% cash back on groceries, which is the best standard (i.e. non-promotional period) earn rate for this category among no-fee cards in Canada. It should be noted, however, that the earn rate is capped at a maximum of $500 per month in spending, so if you regularly spend more than that on groceries, you might want a card that doesn’t limit your earnings. Another attractive feature is that it offers very flexible redemption options, including redeeming your cash back into a BMO chequing or savings account.

• Earn 3% cash back for groceries—the highest non-promotional earn rate for groceries for a no-fee card in Canada.
• Redeem cash back for as little as $1 and you can even set up recurring redemptions starting at $25.
• Impressively flexible cash back redemption options, including putting the money into your BMO chequing or savings account, putting it towards a statement credit or adding it to your InvestorLine account.
• The 3% earn rate for groceries is capped at $500 per month, which can be quite low if you’re shopping for a family.
• A base rate of only 0.5% for all other spending outside of accelerated categories.
• Not many additional perks, such as travel insurance.

Best BMO cash back credit card

Bmo cashback world elite mastercard.

• Annual fee:   $120
• Earn rate:  5% cash back on groceries, 4% back on transit, 3% back on gas and electric vehicle charging, 2% on recurring bill payments, and 1% back on everything else
• Welcome bonus:  You can earn up to 10% cash back in your first three months and have the $120 annual fee waived in the first year.
• Annual income requirement: Personal income of $80,000 or household income of $150,000
• Additional benefits : Complimentary Roadside Assistance Program; BMO World Elite Total Travel and Medical Protection; 25% off at National and Alamo for car rentals; and Mastercard Travel Rewards program.
• Interest rates: 20.99% on purchases, 23.99% on cash advances, 23.99% on balance transfers

At a glance: The BMO CashBack World Elite Mastercard has a solid variety of extra-earn categories that are targeted to where Canadians spend the most, like groceries, transit and gas. Unfortunately, some cardholders may find the monthly spending caps quite low for each category, which can significantly impact potential earnings. Nonetheless, the card can lead to good cash back amounts if you aren’t a big spender and don’t exceed the caps. It’s also one of the few cards that offers free roadside assistance.

• A variety of accelerated cash back categories, with an especially high earn rate for groceries.
• Free roadside assistance, which includes battery boosts, towing and flat-tire change.
• All of the accelerated earn categories have monthly caps, ranging from $500 to $300 per month, which is low for a premium card.
• Membership in Mastercard Travel Pass provided by DragonPass does not include any free lounge visits. You must pay a fee of US$32 per visit.
• The income requirement is high at minimum of $80,000 per year for individuals and $150,000 for households.

Best BMO credit card for dining and transit

Bmo eclipse visa infinite.

• Annual fee: $120
• Earn rates: Five times the BMO Rewards points for every $1 spent on dining in and out, groceries, and gas and transit for the first $50,000 in annual purchases; 1 BMO Rewards point for everything else; earn 10% more points when you add an authorized user
• Welcome offer: You can earn up to 70,000 points worth $467 in travel rewards, a $50 lifestyle credit and the $120 annual fee waived in the first year.
• Annual income requirement: Personal income of $60,000 or household income of $100,000
• Points value: 1 BMO Rewards point = $0.0067 when redeemed for travel
• Recommended credit score for approval: 725 or higher

At a glance: The BMO Eclipse Visa Infinite is an impressive earner that gives you 5 BMO Rewards points per $1 spent on almost anything to do with food or transit. This means 5 points per $1 on groceries, restaurants and food delivery, as well gas, public transit, taxis and rideshares, including UberEats. Everything else will get you 1 BMO Rewards point per $1. In a unique move, this card also offers a $50 annual lifestyle credit, which you can spend however you wish. When you sign up an additional user ($50 per card), you’ll get 10% more points on all purchases.

• Accelerated earn categories that reflect heavy spending areas for most Canadians, and while there is a cap (a cumulative total of $50,000) it will likely be hard to reach for most cardholders.
• Comes with a $50 annual lifestyle credit that you can use at your own discretion.
• Includes mobile device protection of up to $1,000.
• You generally get much less value for your BMO Rewards points if you redeem them for anything other than travel.
• Because 1 BMO Rewards point is valued at 0.0067, you are essentially earning less than $0.01 per dollar when earning the base earn rate, which is on the low side for a premium card.
• The travel insurance package is not comprehensive as it does not include things like flight delay insurance and lost/delayed baggage insurance.

Best BMO travel credit card

At a glance: While the BMO Ascend World Elite Mastercard does charge a slightly higher than normal annual fee, it makes up for it with a generous array of travel-friendly perks. Cardholders not only enjoy free membership in Mastercard Travel Pass provided by DragonPass (with four free annual airport lounge passes included), but they can also take advantage of comprehensive travel insurance. The card also features a very competitive earn rate of 5 BMO Rewards points per $1 spent on eligible travel, and 3 points per $1 spent on dining and entertainment purchases.

BMO Ascend World Elite Mastercard

• Annual fee: $150
• Earn rates: 5 points per $1 spent on eligible travel purchases; 3 points per $1 on dining, entertainment, and recurring bill payments; 1 point per $1 on everything else
• Welcome bonus: You can earn up to 100,000 points and the annual fee waived in the first year for both the primary cardholder and authorized users.
• Points values: 1 BMO Rewards point = $0.0067 when redeemed for travel
• Complimentary membership to Mastercard Travel Pass by DragonPass, which includes four annual complimentary airport lounge passes.
• Book travel-related purchases like flights, hotels, car rentals and more with the travel provider of your choice and then redeem your BMO Rewards points using Pay with Points. 
• Very comprehensive travel insurance, including emergency medical protection, flight delay or cancellation, lost or delayed baggage and more.
• You’ll get quite a bit less value for your BMO Rewards points if you don’t redeem them for travel purchases.
• Because each BMO Rewards point is valued at 0.0067, you’re actually earning less than $0.01 per dollar at the base rate.
• The annual fee of $150 is slightly higher than the average for this category of card.

Best BMO Air Miles credit card

At a glance: Air Miles is one of Canada’s most popular travel rewards programs, allowing members to collect points (“Miles”) that can be redeemed for flights, merchandise, events and more. Many BMO cards already offer cardholders Air Miles when they spend; however, the best deal is the BMO Air Miles World Elite Mastercard. Cardholders enjoy a fantastic earn rate of 1 Mile per $12 in credit card purchases (and a whopping three times that amount at Air Miles partners). Frequent travellers will also enjoy this card’s full complement of travel-related perks like travel and medical protection and discounts on eligible flights.

BMO Air Miles World Elite Mastercard

• Earn rates: 1 Mile per $12 spent, 3 Miles per $12 spent at Air Miles partners and 2 Miles per $12 spent at eligible grocery stores
• Welcome bonus: You can earn 3,000 AIR MILES Bonus Miles! *  That's enough for $310 towards purchases with AIR MILES Cash!* Plus, get the $120 annual fee waived for the first year.
• Points values: 1 Dream Mile = $0.0121 on average when redeemed for travel. 1 Cash Mile = $0.105
• Collectors can double their Air Miles when they show their Air Miles Collector Card at Air Miles partners.
• Exclusive 25% discount on one worldwide Air Miles flight redemption during the calendar year.
• Comprehensive travel insurance, including trip cancellation, trip interruption and baggage delay.
• No free lounge visits with your complimentary Mastercard Travel Pass provided by DragonPass membership.
• The annual income requirement is quite high.
• The highest reward rate of 3 Miles per $12 at Air Miles partners may be become harder as some partners have recently left the program .

Best BMO low interest credit card

At a glance: With the interest rate on most credit cards hovering around 20%, it can be easy to accumulate credit card debt. While some consumers may find that a debt consolidation loan or a line of credit is useful in these situations, others may look into a card with a more manageable interest rate—this simple switch can save you hundreds of dollars. Within the BMO family, the best card for the job is the BMO Preferred Rate Mastercard. With a low $20 annual fee (which is refunded in the first year), an interest rate of 12.99% on purchases and a 0.99% introductory interest rate on balance transfers, this card can help you rein in your credit card debt.

BMO Preferred Rate Mastercard

• Annual fee: $29
• Interest rate: 13.99% on purchases
• Welcome offer: You can earn a 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee and we'll waive the $29 annual fee for the first year*.
• Annual income requirement: $15,000 (personal or household)
• Interest rates:  15.99% on cash advances, 15.99% on balance transfers
• Standard low interest rate can help those who carry a balance get their credit card debt under control.
• Get an annual rebate of $20 if you also have a BMO Performance chequing account.
• Not only does the card have a low interest rate, it also has a much lower than usual standard cash advance rate of 15.99%.
• The card has no perks aside from purchase protection and extended warranty.
• Each balance transfer you make is subject to a fee of 2%.
• The low interest rate for the balance transfer is only valid for nine months.

Best BMO premium rewards credit card 

At a glance: The BMO Eclipse Visa Infinite Privilege card has a hefty $499 annual fee, but the perks and rewards may well warrant the price of entry. You’ll receive an annual $200 lifestyle credit that you can spend however you like, effectively cutting down the annual fee to $299. The card offers amazing airport perks like free airport lounge access, as well as airport parking and valet service discounts at eligible Canadian airports. It also includes a significant amount of travel insurance to boot. It’s definitely a card that’s designed to take the hassle out of travel.

BMO eclipse Visa Infinite Privilege

• Annual fee: $499
• Earn rates: 5 BMO Rewards points per $1 spent on groceries, gas, travel, dining and drugstores, and 1 point per $1 on everything else
• Welcome offer: earn up to 120,000 points
• Annual income requirement: Personal income of $150,000 or household income of $200,000
• Recommended credit score: 760 or higher
• Interest rates: 20.99% on purchases, 23.99% on cash advances (21.99% for Quebec residents), 23.99% on balance transfers
• Free Visa Airport Companion membership and six complimentary airport lounge visits annually.
• Get Priority security lane, airport parking and valet service discounts at select Canadian airports.
• Take advantage of five high-earning categories in typical big-spend categories: groceries, gas, travel, dining and drugstore purchases.
• At $499 a year, the card has one of Canada’s highest annual fees for a credit card.
• A very high income requirement of $150,000 for individuals or $200,000 for households.
• While it offers a good 22 days for travel medical coverage (there are cards with a lower fee that offer more days of coverage), those aged 65 and over are only covered for three days. 

Best BMO student credit card

At a glance: If you’re on a student budget and looking to build a credit history, this may be the right card for you. This variant of the BMO CashBack Mastercard earns substantial rewards for groceries, netting you 3% cash back in that category. You’ll also earn 1% on recurring bill payments and 0.5% on everything else. The one downside is that, as with many no-fee cards, this card is light on perks— but it does offer standard purchase protection and extended warranty.

BMO CashBack Mastercard for Students

• Earn rates: 3% cash back on groceries (on the first $500 per month), 1% on recurring bills and 0.5% on everything else
• Welcome offer: You can earn 5% cash back in your first 3 months. Conditions apply.
• Recommended credit score: 660 or higher
• Interest rates:  20.99% on purchases, 22.99% on cash advances and 22.99% on balance transfers
• Flexible cash back program that lets you put your earnings into a BMO account (chequing, savings or InvestorLine) or towards a statement credit.
• The card comes with extended warranty and purchase protection.
• Get 15% off admission to Cirque du Soleil shows in Canada, and 20% off shows in Las Vegas, as well as 25% off rentals at National and Alamo car rental locations.
• The grocery and recurring bill payment categories are capped at $500 a month respectively.
• A low standard earn rate of 0.5% cash back.  
• This no-frills card has few extras.

About BMO Rewards

What is the value of bmo rewards points.

The BMO Rewards program follows a similar value structure as other bank-issued points programs, like TD Rewards and Scotia Rewards. The BMO Rewards program is ideal for its variety of redemption options, giving you access to high-value rewards, and more flexible payouts like cash back on your statement—great if you find your own travel deal or want to use your rewards to pay off an everyday bill. The value of each point varies based on the category of redemption, with travel offering greater value than gift cards, merchandise or cash back redemptions.

• Travel: 150 BMO Points = $1 / 1 BMO Point = $0.0067 (0.67%)
• Non-travel purchases (statement credits, gift cards, merchandise, BMO investments): 200 BMO Points = $1 / 1 BMO Point = 0.005 (0.5%)

How to redeem BMO Rewards points

You must redeem BMO Rewards points through the bank’s website, BMORewards.com. There, you’ll have access to its travel portal, where you can search directly for flights, vacation packages, hotels, cars, and cruises. You also have the ability to redeem points for travel over the phone using a BMO Rewards travel agent, but there’s an additional $39 booking fee (on top of the website’s listed redemption cost. )

BMO Rewards’ best feature

Using BMO Rewards points for travel remains one of your best redemptions because of the points’ value consistency. Unlike Aeroplan and Air Miles , where points required for booking are based on supply and demand, peak travel periods and seat availability, the BMO Rewards points per $1 value doesn’t fluctuate based on inventory.  This makes it one of your best options for travel rewards and redemptions, as it makes it easier to calculate redemption values and comparison shop for airlines and trip itineraries.

More of Canada’s best credit cards :

• Best credit cards in Canada
• Best travel credit cards
• Best travel insurance credit cards
• Best Air Miles credit cards
• Best no foreign transaction fee credit cards

Advertisement

About Sandra MacGregor

BMO Travel Insurance Application

Before you begin:.

You must be a Canadian resident and covered by a valid Canadian Government Health Insurance Plan

You must purchase coverage before you leave your province or territory of residence

This coverage is designed exclusively for BMO Financial Group customers

Please review existing travel insurance coverage you may already have.

Please enter the details of your trip below:

Who is the coverage for.

This field identifies the group of people who will be covered by the policy. Dependent children are automatically covered under a family plan. Please review the certificate of insurance for the definition of “ Dependent Child ” to ensure coverage.

Departure Date

The date and time on which you depart from your province or territory of residence on Your Trip (using local time at Your Canadian address).

Return Date

The date and time that you return to your province or territory of residence on Your Trip (using local time at Your Canadian address).

Travel Medical Coverage

Provides emergency medical coverage for the first 4/10/23 days of your trip, for an unlimited number of trips each year. Additional days can be purchased to protect trips that are longer than 4/10/23 days. The Annual Multi-Trip Emergency Medical Plan is available to customers who are a resident of Canada, are covered by a valid Canadian Government Health Insurance Plan and under the age of 75 on the effective date of the certificate of insurance.

Trip Protection Coverage

Includes baggage/personal effects, flight delay and trip interruption (post departure) coverage. Trip cancellation (prior to departure) can be added and requires the cost of trip for a quote.

Trip Cancellation Coverage is only available up to $20,000. If you require coverage above this, please call Allianz Global Assistance at 1-800-661-9060.

Quick Information and Resources

How to File a Complaint

CUMIS General Insurance Company, a member of The Co-operators group of companies P.O. Box 5065, 151 North Service Road Burlington, ON L7R 4C2 1-800-263-9120

Our focus is on earning and maintaining customer loyalty through superior service. However, we understand that despite our best efforts, we may not always meet our customers’ expectations. If you are not satisfied with any aspect of our service, we offer a complaint resolution procedure to ensure your concerns are effectively handled in a timely manner.

If your concern is related to the travel insurance underwritten and administered by Allianz Global Assistance, please share it via the Allianz Global Assistance Complaint Resolution Process .

If your concerns relates to BMO services please let us know via the BMO Complaint Resolution Process .

Your session has been inactive for 15 minutes.

Please note that your session will only be active for a maximum of 5 more minutes. You may close this dialogue and continue with your purchase.

We use cookies in order to provide you with a user-friendly, safe and effective website. By default, the cookie settings on this website are set to "Allow all cookies". If you continue on this site, you consent to this. Please visit our Privacy Statement if you want to learn more about our privacy and cookie policy.

Your session has timed out.

If you still wish to purchase insurance, please return to the first step.

Review: BMO CashBack World Elite Mastercard

Reed Sutton Apr 28, 2024 / Bank of Montreal (BMO) , Card Review , Cashback / Leave a comment

Credit Cards

by [author_plus] | Published Oct 28, 2022 | Edited [modified_date]

Bank of Montreal (BMO) , Card Review , Cashback

[comment_number]

Difficulty:

Categorized: Credit Cards

Bank of Montreal (BMO) is a bank and issuer of credit cards very dear to our hearts at Frugal Flyer, primarily for its Air Miles line of credit cards , which offer stellar welcome bonuses. Of course, the Air Miles program has become a bit lacking as of late… but I digress, instead today we’re going to review something else entirely from BMO: the BMO CashBack World Elite Mastercard .

Read on to find out the ins and outs of this card and why you might want to consider it for your wallet. 

Welcome Bonus

The BMO CashBack World Elite Mastercard is a cashback credit card, and as is common with these types of cards, the welcome bonus is delivered as a promotion increase in the cashback rate:

• As a new cardholder, you can get up to 10% cashback in the first three months .
• Plus: You can earn an additional $75 FlyerFunds Rebate on the BMO CashBack World Elite Mastercard when you apply through Frugal Flyer Rebates !

The BMO CashBack World Elite Mastercard earns cash back and offers cardholders the opportunity to earn up to  5% cash back on all grocery purchases. As a result, for 2024 we selected this card for the award for Best Cashback Credit Card for Grocery Purchases .

Check out our BMO Cashback World Elite Mastercard review for more details.

The promotional cashback maximum earned in the first three months is divided between purchase categories, as follows:

• 10% on up to $500 spend on grocery purchases ($50)
• 10% on up to $300 spend on transit and ride sharing ($30)
• 10% on up to $300 spend on gas and electric vehicle charging ($30)
• 10% on up to $500 spend on recurring bill payments ($50)
• 10% on up to $1,000 spend on all other purchases ($100)

This results in a maximum spend of $2,600 or $260 in cashback you can earn in the first three months.

The annual fee of $120 is also waived for the first year of card membership.

Earning Rates

As with most credit cards, the fastest way to earn points or cashback is through the credit card welcome bonus, in this case, the elevated promotional cashback rate on the BMO CashBack World Elite Mastercard. 

The BMO CashBack World Elite Mastercard also provides some very strong elevated earning rates for specific spend categories, as follows:

• 5% cash back on grocery (first $500 spent per billing cycle)
• 4% cash back on transit and ride sharing (first $300 spent per billing cycle)
• 3% cash back on gas and electric vehicle charging (first $300 spent per billing cycle)
• 2% cash back on recurring bill payments (first $500 spent per billing cycle)
• 1% cash back on all other purchases (no limit)

You can also only earn cashback on a maximum spend of $7,000 per month.

These spending categories provide an opportunity to generate a good return on your daily spending, especially if you maximize each category. The 5% cashback rate on groceries makes this one of the best credit cards for grocery purchases in Canada, and arguably the best if you are looking for cashback and not points. 

Related: Best Credit Cards for Grocery Purchases in Canada

The BMO CashBack World Elite Mastercard has an annual fee of $120 which is comparable to many other World Elite credit cards in Canada.

Customers who have a BMO Premium Chequing account can receive up to a $150 annual fee rebate per calendar year or those who have a BMO Performance Chequing account can receive up to a $40 annual fee rebate per calendar year. Double-check the benefits of your BMO bank account to understand how this benefit works.

The BMO Cashback World Elite Mastercard comes with three benefits of note: roadside assistance, insurance coverage, and free Boingo WiFi.

Roadside Assistance 

With the BMO CashBack World Elite Mastercard, you receive complimentary membership in the Dominion Automobile Association (DAA) and benefit from their BMO Roadside Assistance Program (Basic Coverage). 

Membership terms and the features of the plan are described in the Certificate you will receive. The plan includes battery boosts, flat tire change, lockout service, and towing – a $69/year value. 

The only other credit card that offers free roadside assistance is the Triangle World Elite Mastercard , and I know from experience that that roadside service is very good. If you’ve had experience with DAA, please let us know in the comments below!

Insurance Coverage

The BMO CashBack World Elite Mastercard comes with a strong package of insurance coverage, including emergency travel and medical protection, flight and baggage delay benefits, extended warranty plus, purchase protection plus, car rental and collision damage waiver benefits, and more.

See the table below for more details on each insurance offering.

Several things stand out that make this a very strong insurance package, particularly due to the fact that for much of the travel insurance coverage you only need to partially charge the trip/flight to the card. Furthermore, the purchase protection of 180 days and warranty extension of two years are rare benefits, as even most premium cards have 90-day protection and one-year warranty extension. 

On the other hand, 8 days of emergency medical coverage is quite short but you can get this benefit from other credit cards since no charge to the card is required for eligibility.

Related: Credit Card Travel Insurance For Award Flights

Refer to the BMO CashBack World Elite Mastercard certificate of insurance for complete details and conditions.

Free Boingo WiFi

With the BMO CashBack World Elite Mastercard, you also get access to WiFi hotspots provided via Boingo, worldwide. Boingo works with some prominent airlines such as WestJet, Lufthansa, Swiss, Austrian, Singapore Airlines, and Etihad (and is even a great way to get free WiFi on WestJet flights ).

Redeeming Cash Back

Redeeming your cashback balance with the BMO CashBack World Elite Mastercard is straightforward. You can redeem ad hoc if the balance is over $1, or you can set up automatic recurring redemptions which will trigger at the end of the billing cycle if the balance is over $25. Cashback deposits take 2-5 business days following the request or billing cycle.

The cash back balance can be redeemed in one of three ways: 

• Used as a statement credit on your monthly bill
• Deposited into a BMO chequing or savings account
• Deposited into your InvestorLine account

BMO has some generous bank account bonuses right now if you’re interested in setting up a new bank account. Combine these with our BMO bank account rebates to maximize your return.

Comparable Credit Cards

A strong benefit of the BMO CashBack World Elite Mastercard is its 5% earn rate on grocery purchases. We’ve compiled a list of the top 5 credit cards for grocery purchases , which includes rival cards like the Scotiabank Gold American Express card and American Express Cobalt credit card which both earn 5X points on groceries in their respective programs.

There are also a couple of other credit cards that we think could be good alternatives to the BMO CashBack World Elite Mastercard: the Scotiabank Momentum Visa Infinite credit card and the National Bank World Elite Mastercard.

Scotiabank Momentum Visa Infinite Card

If you’re looking exclusively for cashback, the Scotiabank Momentum Visa Infinite card earns 4% on grocery, recurring bills, and subscriptions, and has a yearly rather than monthly spending cap of $25,000. 

The Scotiabank Momentum Visa Infinite card earns cash back and gives cardholders the opportunity to earn 4% cash back on grocery purchases, eligible recurring bill payments, and subscription purchases.

Check out our  Scotiabank Momentum Visa Infinite card review  for more details.

National Bank World Elite Mastercard

If insurance is important to you, the National Bank World Elite Mastercard beats out the card across several categories, particularly with stronger medical, trip delay, and damaged/lost/stolen baggage insurance.

The National Bank World Elite Mastercard earns À la Carte Rewards points and offers cardholders benefits such as $150 in annual travel credits and access to the National Bank VIP lounge in the YUL International terminal. Due to its stellar travel insurance and purchase protection benefits, we deemed this card the Best Overall Insurance Credit Card of 2024 .

Check out our National Bank World Elite Mastercard review for more details.

Nonetheless, the BMO CashBack World Elite also edges out the National Bank World Elite in some subtle ways, including

• BMO covers personal effects for rental cars whereas NB does not.
• BMO baggage delay is covered in the case of a partial charge, whereas NB requires the full cost to be charged to the card.  
• BMO has a lower annual fee of $120 vs $150 for the NB card.

Conclusion 

The BMO Cashback World Elite Mastercard is a formidable cash back earning credit card. Its strengths include category bonuses with grocery, transit, gas, and recurring payments, as well as a complimentary roadside assistance program and strong insurance benefits with purchase protection and extended warranty.

• Latest Posts

Reed Sutton

Latest posts by reed sutton ( see all ).

• Award Flight Search Tools Compared: AwardTool, Point.me, PointsYeah, Roame, Seats.aero - Apr 22, 2024
• The Best Luxury Lodges for Wildlife and Wilderness Lovers  - Mar 4, 2024
• Welcome to the Frugal Flyer Team, Andy - Feb 20, 2024
• Update on IRS Processing of Certified True Copies of Canadian Passports - Jan 20, 2024
• Best Balance Transfer Credit Card Offers in Canada - Jan 15, 2024

All About the Individual Taxpayer Identification Number (ITIN)

Review: oryx airport hotel at doha hamad international, leave a comment cancel reply.

All comments are moderated according to our comment policy. Your email address will NOT be published.

Save my name, email, and website in this browser for the next time I comment.

Subscribe to our newsletter .

This site uses Akismet to reduce spam. Learn how your comment data is processed .

Editorial Disclosure: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. For complete and current information, please consult the entity's website.

• Our Bloggers

Select Page

• BMO Out of Province Emergency Medical Protection Insurance

Posted by Maple Miles | Oct 13, 2023 | Credit Cards | 0

I have summarized a few important details as you evaluate whether you need additional emergency medical insurance during your travels.

The following credit cards have the Out of Province Emergency Medical Protection Insurance coverage with BMO:

• BMO eclipse Visa Infinite | Certificate of Insurance
• BMO eclipse Visa Infinite Privilege | Certificate of Insurance
• BMO Ascend World Elite MasterCard | Certificate of Insurance
• BMO Cashback World Elite MasterCard | Certificate of Insurance
• BMO Air Miles World Elite MasterCard | Certificate of Insurance

For other credit card issuers, information about their travel insurance policy is available here:

• American Express Out of Province and Country Emergency Medical Insurance
• CIBC Out of Province Emergency Medical Travel Insurance
• RBC Out of Province Emergency Medical Travel Insurance
• Scotiabank Travel Emergency Medical Insurance
• TD Travel Medical Insurance

The information listed below is my interpretation of the insurance policy.

Coverage Eligibility

The basic coverage provided for all the listed cards are:

• Coverage is provided to the cardholder, cardholder’s spouse, and cardholder’s dependent children.
• Coverage is up to $5,000,000 per insured person per trip.
• The dependent children must be traveling with the cardholder or the cardholder’s spouse

Exclusions of Basic Coverage

Important Exclusions:

• Pre-existing medical conditions need to be stable at least 90 to 180 days prior to your trip departure date, depending on the credit card and your age.
• Scuba diving (unless you have a designation), motorized race, motorized speed contest, bungee jumping, parachuting, rock climbing, mountain climbing, hang-gliding or skydiving amongst other activities.

Coverage Benefits

Differences between cards.

The major difference between the credit cards is what is the age group that is covered by the insurance and how long they are covered for.

One unique situation about the BMO credit cards are that the benefits are quite limited once you are above 65 years of age.

Join our mailing list to receive the latest news and updates from our team.

You have successfully subscribed, maple miles.

Hello Hello, this is Moli! Welcome to Maple Miles. A tech professional on a weekday, and a global traveler outside of work. I manage my entire family's travel, connecting us across the globe, between Canada (Vancouver is home, for now), India and whatever country comes in between. I love water, so you might always find me either dreaming of a beach, or actually at a beach in my free time.

More Posts from Maple Miles

Oh, Hello from Maple Miles

March 8, 2023

Best Ways to Earn Free WestJet Flights

March 9, 2023

WestJet Companion Voucher: How to earn them?

This site uses Akismet to reduce spam. Learn how your comment data is processed .

Most Popular Posts

Our Authors

The Unaccompanied Flyer

Travel Gadget Reviews

The Flight Detective

Takeoff To Travel

The Hotelion

Bucket List Traveler

MJ on Travel

The Points Pundit

Family Flys Free

Recent Reviews

• Six Passengers in Two Business Class Seats in Gulf Air Score: 90%
• Review: Hyatt Place Waikiki Score: 83%
• Review: Hyatt Centric Waikiki Score: 81%
• Gulf Air Business Class from Mumbai to Bahrain Score: 65%
• Hyatt Place Harrisonburg Review: It Has a Rooftop Restaurant?! Score: 89%