Card Details
Based on $2,000 spending
First Year Value
-$8.68
-$8.68 in years after
Annual Rewards
$490.32
BMO Rewards
First Year Bonus
$0
BMO Rewards
Annual Fee
$499
First Year Value
-$8.68
While the first year bonus value here shows $0, the actual welcome bonus for this credit card is valued at $804 when you meet the minimum spending or other listed requirements. The value of $0 here was derived based on numbers in the spending inputs.
Interest Rates
Purchase: 21.99%
Cash Advance: 23.99%□
Balance Transfer: 23.99%
□ Cash advance rate for Quebec residents is 21.99%
Annual Fee
$499
Annual Income
Personal: $150,000
Household: $200,000
Credit Score Estimate
Welcome Bonus
50,000 points when you spend $6,000 in the first 3 months, plus 30,000 points when you spend at least $30,000 in the first 6 months. Receive an additional 40,000 points when you spend at least $75,000 in the first year.
Our Rating
3/5
Institution
BMO
Rewards†
- 5x points per $1 spent on grocery, dining, gas, drugstore and travel related purchases (maximum $100,000 in spending)
- 1x point per $1 spent on all other eligible purchases
Insurance & Benefits†
Insurance
Coverage
Purchase Protection
120 days
Extended Warranty
2 years
Emergency Out of province Medical
22 days
Emergency Medical Over 65
3 days
Travel Accident
$500,000
Trip Interruption
$5,000
Trip Cancellation
$2,500
Flight Delay
$1,000
Baggage Delay
$500
Lost or Stolen Baggage
$1,000
Hotel Burglary Insurance
$2,500
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Car Rental Damage & Theft
yes
Mobile Device Insurance
$1,000
Benefits
Details
Airport Lounge - Dragon Pass
Visa Airport Companion membership and 6 complimentary airport lounge visits per year
Anniversary Credit
$200 anniversary lifestyle credit
Extra points
Earn 25% more points on all purchases when you add an authorized user to your account
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Concierge Services
Visa Infinite Privilege Concierge like having a personal assistant on speed dial
Visa Infinite Exclusive Benefits
Visa Infinite luxury hotel collection, dining series and wine country
Golf Benefit
Troon Rewards Golf benefits like discounts at over 95 resorts and courses around the world plus access to select private clubs across the U.S
Discount
Priority Security Lane, airport parking and valet service discounts at select Canadian airports
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Gas Discount
Up to 7 cents off per litre on Shell® fuel if you are an AirMiles collector
Pros & Cons
Pros
- Generous rewards: Earn 5x points on travel, dining, groceries, gas, and drugstore purchases.
- $200 lifestyle credit: Annual credit that can be used on any purchase over $200.
- 25% bonus points with authorized user: Adding an authorized user increases your rewards by 25%.
- Comprehensive insurance: Includes 12 types of coverage, including emergency medical and trip interruption insurance.
- 6 lounge visits: Complimentary Priority Pass membership with 6 free airport lounge visits annually.
Cons
- High annual fee: The card has a steep $499 annual fee, which is not waived in the first year.
- High income requirements: Requires $150,000 personal or $200,000 household income, limiting eligibility.
- Low point value: Points are valued at only 0.67 cents, reducing their overall worth.
- Additional card fees: Adding authorized users costs $75 per year per user.