Is it time to enhance an explorer spirit with the flexibility, benefits of a credit card with rewards, and a luxurious touch? For unlimited travelling experience, the best credit card you need is the BMO World Elite Mastercard. This card is perfect for the adventurers – it has a list of benefits and bonuses that are truly worth having when travelling. 

BMO World Elite Mastercard offers you the best in travel rewards, travel accident & health insurance and many more features that will make every trip memorable. Getting to the specifics of this particular card, it is necessary to look at the features that would convince any travel fanatic to opt for it.

Main features of the BMO World Elite Mastercard

The BMO World Elite Mastercard is a credit card from Bank of Montreal or BMO which is one of the largest banks in Canada that guarantees its sturdiness and pays attention to its clients’ needs. As this card is aimed at people who love to travel, but want to travel in style, it can be concluded that this card is premium. 

If you are a business traveller, or just have the adventurous spirit within you once in a while, this card is created for you. BMO World Elite Mastercard has many benefits listed in the following: Earning points for purchases Increased travel rewards Insurance benefits for travel Accommodation.

Understanding the annual fee 

In credit card products, the fee that the cardholder has to pay annually is another criterion that has to be looked at. BMO World Elite Mastercard is another credit card which, costs $150 in annual fee. However, there’s good news for new cardholders: this fee though, you only pay after the first year of service hence you get to enjoy all the benefits without having to pay a dime.

Deciphering credit limits

The credit limit that is granted to the holder of the BMO World Elite Mastercard depends on several factors to ensure that will suit the holder’s status and usage of the card. Consequently a credit line is offered and this is done in consideration to the income, credit history and the general financial status of the client. 

This individualization means that you won’t be left with a scarce amount of credit when the great features of the card come in handy as you are financially balanced. Depending on the annual income whether it is individual with a minimum of $80000 or a household with $150000, BMO conducts a microscopic search of your profile to offer a credit limit that will meet your needs.

Advantages of the BMO World Elite Mastercard

• 5x the Points: Receive five points for every single dollar that is spent on the travel purchases that are eligible.
• 3x the Points: Get triple points for dining, entertainment and subscriptions/recurring bills.
• 1x the Point: Five cents would be awarded for every dollar spent on all other categories.
• Airport Lounge Access: Get free passes from DragonPass offering free membership in Mastercard Travel Pass, which means additional four free passes for the year.

Standout advantage

Another program which separated BMO World Elite Mastercard from the rest of the pack is their travel perks. As a result, with the five times points on every eligible travel purchased, you can easily earn highly flexible and valuable points that can be used to book your flights, hotel accommodations, car rentals, vacation packages, cruises and many more. 

Addressing potential drawbacks

• High Annual Fee: While initially there is no fee for registration, the user is subjected to $150 charges annually from the next year onwards which tends to pose a challenge for some users.
• Income Requirements: The $80,000 individual/$150,000 household SKU may be too high.
• Foreign Transaction Fees: They also attract a foreign transaction fee which over time may be quite expensive for the card holder, especially if you frequently transact in foreign countries.

Standout disadvantage

The main weakness of the BMO World Elite Mastercard is that its annual fee is rather high even for the first year of card membership. The U.S. version currently costs $150 which makes it one of the priciest travel credit cards in the market.

Eligibility criteria 

Before you can apply for the BMO World Elite Mastercard credit card, there certain prerequisites that you have to meet. Any applicant applying for the credit card must earn a minimum of $80000 per year or $150000 for families. Also, it is necessary to be a Canadian citizen and be the age of majority in the territory of the province of Canada. 

Good credit score is also important since it highlights the ability of an individual to handle credit wisely. The procedure involves filling of a form with one’s personal data, history in regards to employment alongside a credit check among other things.

How to apply for the BMO World Elite Mastercard

To apply for the BMO World Elite Mastercard, one can follow the following simple steps Since the application process is presented in through multiple forms of media it is easy to access. You can apply for it online on BMO’s website or through the BMO Mobile Banking App then, in-person banking is also available.

Via website

First, it is possible to apply directly on the credit cards through the BMO official website, thus: From there, the specific information about the card and the possibility to apply is offered to the consumer. The major help is that the online application form will make you fill all the details that are required like the personal details, income, and employment details. 

Once the information is sent, the response is expected to be given within one minute, or 60 seconds at most. This method is convenient and can be filled online hence making it possible to apply from the comfort of ones home, this makes it perfect for those people who prefer an online application.

Through the mobile application

Go to the BC app shop for Apple or Google Stoke and install the app to your android device and enter your BMO Online Banking User ID and Password. To begin your application process, move on the credit cards and click on the BMO World Elite Mastercard. Like the case with online application, the app will request the necessary information from you.

Through the store/branch

Well, if one wants to get a more kinship touch, it is better to apply for BMO World Elite Mastercard in the branch. You can reach out to BMO and make an appointment with someone who shall help applying this fund. 

They will assist you in filling out the paperwork that is required and explain anything you do not understand. This method is suitable for those people, who appreciate their communication with the consultant as in-person and do not want to receive any misunderstandings regarding the main benefits of the card.