In Canada, air miles are always a rage, especially with the millennial’s who love travelling. In this article, let us take a look at two of the best air miles credit card.
As a Canadian, it is very easy to accumulate and use your Air Miles – all you might be looking for is to increase your miles earning rate. When you use a good Air Miles credit card, you can earn more air miles to travel anywhere at any time with ease.
Not only in travel rewards, but air miles can also be redeemed for a ton of useful goodies and benefits.
Advantage Of Air Miles Credit Card
The use of air miles rewards program is very common, especially among frequent flyers. There are a lot of people who have subscribed to air miles and are making great use of it.
The advantages of Air Miles are pretty simple. With Air Miles credit card, you can increase your points by participating in several platforms that make use of these Air miles to earn great rewards. For example, if you are buying something in a place that allows payment with Air Miles, you can earn double your points.
In this article, our main aim is to take a look at the top two Air Miles credit cards in Canada. Let us look at the key benefits and features, pros and cons and what makes them great picks.
You can read my complete and in-depth review of the Air Miles rewards program by clicking here
1. BMO Air Miles World Elite Mastercard
This is one of the best Air Miles credit cards right now in Canada. It is used by a lot of individuals in Canada and the best part of it is that it comes with a whole lot of benefits. However, it is important to note that to make use of this card, you must ensure that your credit score is excellent.
The annual maintenance fees for this card is $120 but as a first-time user, the fees are waived for the first year. This is one of the best Air Miles credit cards that you get in the market today.
When compared to the other air miles credit cards in the market, the BMO Air Miles World Elite Mastercard stands out and they also offer the best signup bonuses. When you sign up for the first time. You will be given a bonus of 3000 miles which is equivalent to $320.
Another thing that you need to know is that when you use this Air Mile Credit Card, you will also get 15% off Air Miles which you use it for flights within North America, and for every $10 in purchases, you will get to earn 1 Air Mile. This is seen as the Highest Air Mile rate of return among all other credit cards.
There are also other additional benefits which include, a travel insurance package and medical insurance for up to 15 days during your trip.
Benefits & Features Of The BMO Air Miles World Elite Mastercard
1. Annual Fee – $120
2. Interest charged for regular purchases – 19.99%
3. Interest charges on Cash advances – 22.99%
Income Eligibility To Apply for The BMO Air Miles World Elite Mastercard
Minimum $80,000 (individual) or $150,000 (household) annual income required
Cons Of The BMO Air Miles World Elite Mastercard
After looking at all these great benefits and features, we are sorry to say that there are also some downsides to this card that a lot of people do not know about and I’ll be sharing that here.
One of the major cons of this cad is simply the value of the rewards that you get from the card. Using this card, the value of your reward is significantly lower than the value of the other major competitor credit cards. Most of the other no-fee cards offer better rewards than this card which is not good.
Another major downside is that you may not be able to take full advantage of the benefits that this credit card provides for you.
2. American Express Air Miles Platinum Credit Card
This is also one of the best Air Miles credit cards you can get in Canada today. Once you sign up for this card, you will get a welcome bonus of 3500 Air Miles.
Whenever you charge a total of $1500 to your card, you will receive some bonus miles. These bonus miles are 1700 miles for the first 3 months of the card membership. For the next three months, you will earn 150 miles for every $500 spent.
Apart from these great bonuses, you can also get 1 mile for every $5 that you spend on food, gas and other important things. The American Express Air Miles also provides insurance that covers car rentals, accidents, etc.
Benefits & Features Of The American Express Air Miles Platinum Credit Card
1. Annual Fee – $120
2. Annual Interest Rate On Regular Purchases – 19.99% on purchases and 22.99% for cash advances
3. Additional Card (Spouse and family members) Fee – FREE
Key Benefits Of The American Express Air Miles Platinum Credit Card
1. Bonus Air Miles – Once every calendar year, when you use your Dream Miles to book your first single flight ticket or a package vacation through airmiles.ca or vacations.airmiles.ca, you’ll be eligible to get Bonus Air Miles equivalent to 25% of the net number of Miles used. The maximum Bonus Miles is capped at 750.
2. Increased Air Miles Earning Rate – You’ll enjoy earning air miles at the rate of 1 Mile for every $5 for regular credit card purchases in-store and online, up to $30,000 annually cap limit, on all eligible food & drinks and eligible gas & transit in Canada.
Also, you will be eligible to earn 1 Mile for every $10 in regular credit card purchases everywhere else apart from the ones mentioned above
3. Balance Transfer Offer For New Cardmembers – This offer is only applicable if you are a new cardmember – You’ll definitely enjoy the promotional interest rate of 1.99% in the first 6 months.
All you have to do is choose to transfer your other credit card balances to the American Express Air Miles Platinum Credit Card at the time of the online application or while signing up for this credit card. There is no balance transfer fee charged for this offer. It is absolutely FREE of cost.
Cons Of The American Express Air Miles Platinum Credit Card
First of all, there are a ton of benefits by getting the American Express Air Miles Platinum Credit Card. Still, there are a few cons as well which we will discuss in this section.
While this card is all great, the cons associated with this card is not all that much. The only downside is that this credit card does not provide you with travel insurance, trip cancellation refunds and medical coverage.
As a frequent traveller, these are some of the important things that you will need and this card does not cover for them. So, do think about it before getting one. There are other cards in the market which do offer these benefits – if that’s something on your mind.
However, besides all these benefits, the America Express Air Miles Platinum credit card is the perfect choice for you if you want to go for one at any time for you or your family.
There you go that was the review on the two of the best air miles credit card in Canada right now.
I hope you liked the content and information shared here. I’ve tried my best to note the important and key benefits of both these credit cards from the end-user perspective. There are other common benefits as well, which I have not discussed here. But, do check them out on the official credit cards page.
In this article, we have given you two major Air Miles credit card companies in Canada that you should consider when choosing an Air Miles Credit Card for yourself or your family.
If you found the content useful please share it on social media, let me know your thoughts and comments below.
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Sagar Sridhar is an accomplished personal finance blogger hailing from Canada. With a unique blend of quirkiness and enthusiasm, he has established himself as a prominent figure in the personal finance industry. Sagar’s passion for finance, coupled with his engaging writing style, sets him apart from his peers. While he has a background in computer engineering and a Master’s in Project Management, Sagar’s true passion lies in helping others manage their money. His writing has been featured in several top Canadian finance publications, solidifying his status as a sought-after voice in the field. Despite juggling his work and blogging schedule, Sagar remains resolute in his mission to make a lasting impact on the personal finance world.