Thanks to CJ for forwarding the link to the newest AIR MILES co-brand card which will be replacing the AIR MILES World MasterCard from BMO. We first learned about the new BMO AIR MILES World Elite MasterCard a few weeks ago as some of our commenters let us know that BMO had sent them letters notifying them of the change. There are both good and bad changes to this new card.
First the good news is the earn is increased to 1 AIR MILES Reward Mile for every $10 spent plus the card now adds Priority Pass annual membership with 2 free lounge visits (the card is following in the footsteps of its BMO brethren the BMO World Elite MasterCard which also has Priority Pass membership with 4 free visits)
The 1 mile per $10 spent makes this card the best AIR MILES earning co-brand card out there as the American Express® Air Miles® Reserve Card and the American Express® AIR MILES®* Platinum Credit Card do earn 1 Mile per $10 but only at at AIR MILES Sponsors and on eligible gas, grocery and drug store spend.
The bad news is that 25% discount on AIR MILES flights that came with the World version of the card has been changed to North America only from Worldwide.
Overall we tend to value AIR MILES Reward Miles at an average of 13 cents a piece so with this card you are essentially getting a 1.3% return on your spending not taking into account other AIR MILES you earn for simply swiping your AIR MILES card at sponsors. For comparison sake the BMO World Elite MasterCard offers a 2% return on all spending and you can still swipe your AIR MILES card at sponsors but you are essentially earning points into two different programs but you do not have your hands tied to the usual availability issues with AIR MILES.
I know some of our readers said they are going to keep this card when it switches over for them from the World version to the World Elite as the earn is strong and the 25% of North America flights works for them. We pretty much hypothesized in those past discussions that very few of AIR MILES collectors actually redeem for flights outside of North America as it is very hard to earn the amount of miles required to go places like Africa and Australia so the 25% discount was probably rarely used outside of North America. So what about you are you going to keep this card when you get it or if you don’t have the current World version are you inclined to grab this card over one of the other options? Let us know by commenting below!