Apply for the BMO AIR MILES Mastercard

In the diverse landscape of Canadian credit cards, the BMO AIR MILES®† Mastercard® stands out as a compelling option for individuals looking to earn AIR MILES Reward Miles on their everyday spending.

Designed to be a foundational rewards card, it offers a straightforward path to accumulate miles that can be redeemed for a variety of exciting rewards, most notably travel experiences.

Advantages of the BMO AIR MILES®† Mastercard®

The BMO AIR MILES®† Mastercard® is popular for earning AIR MILES Reward Miles on everyday spending.

Its main advantages include a simple earning structure of 1 mile for every $20 spent on most purchases, making it easy to accumulate miles without tracking categories.

Crucially, it has no annual fee, maximizing the value of your rewards. New cardholders often get an attractive welcome offer with bonus miles.

AIR MILES redemptions are flexible, covering travel, merchandise, gift cards, and even cash rewards (AIR MILES Cash), offering immediate value.

As a Mastercard, it boasts wide global acceptance and provides standard Mastercard benefits like Zero Liability Protection and purchase protection.

How Long Does the Application Analysis Take?

The application review for the BMO AIR MILES®† Mastercard® varies.

Many applicants with excellent credit and straightforward finances may get an instant decision or conditional approval online.

However, if your application needs a more thorough review due to a less established credit history or if BMO requires additional verification (income, employment, address), the process can take a few business days to 7-10 business days.

The speed depends on your application’s accuracy and completeness and the complexity of your financial profile.

What to Do if Your Application is Denied

Receiving a credit card denial can be disheartening, but it’s an opportunity to understand and improve your financial standing.

BMO, like all reputable lenders in Canada, is legally and ethically obligated to provide you with the specific reasons for your denial.

Firstly, await the formal notification from BMO. They will typically dispatch a letter or email meticulously outlining the exact factors that led to their decision.

Common reasons for denial can include:

• Poor credit history: This often involves a low credit score, a history of missed payments, or high credit utilization (using a large percentage of your available credit).
• Insufficient income: Not meeting the card’s minimum income requirement. While the AIR MILES Mastercard doesn’t have as high an income threshold as premium cards, consistent income is still crucial.
• Too many recent credit applications: Multiple hard inquiries on your credit report in a short period can signal higher risk to lenders.
• Insufficient credit history: For individuals new to credit, a “thin file” means there isn’t enough data for lenders to accurately assess your risk.
• Unverified information or identity concerns: Errors in your application or BMO being unable to verify your submitted details.
• High existing debt: Your current debt-to-income ratio may be too high, indicating a potential struggle to manage additional credit.

How to Apply for the BMO AIR MILES®† Mastercard®

Applying for the BMO AIR MILES®† Mastercard® is a straightforward process, primarily done online.

1. Visit the Official BMO Website: Navigate to the BMO Canada website and locate the BMO AIR MILES®† Mastercard® product page. This page will provide the most up-to-date information on the card’s features, benefits, and current welcome offers.
2. Review Eligibility Requirements: Before applying, carefully read through the eligibility criteria. These typically include being a Canadian resident, reaching the age of majority in your province or territory, and meeting any specified income requirements (though the AIR MILES Mastercard generally has lower or no explicit income requirements compared to premium cards).
3. Click “Apply Now”: Once ready, click the “Apply Now” or similar button to initiate the online application form.
4. Complete the Application Form: Fill out all sections of the application form accurately and completely. You will need to provide personal details (name, address, date of birth), contact information, employment details, income information, and details about your financial obligations.
5. Provide Required Identification: Have your Social Insurance Number (SIN) and a valid government-issued ID (like a driver’s license or passport) readily available. While you might not upload them during the initial online application, they are crucial for verification.
6. Review and Submit: Before submitting, meticulously review all the information you’ve entered for accuracy. Any discrepancies can delay the process or lead to denial. Once confident, submit your application.
7. Await Decision: As mentioned, you may receive an instant decision. If not, BMO will contact you within a few business days with their decision or to request additional information.

How to Unlock/Activate the Card

Once your BMO AIR MILES®† Mastercard® arrives in the mail, it will need to be activated before you can start using it. This is a crucial security measure.

1. Online Activation: The most common and convenient method is to activate your card online. Visit the BMO card activation portal (usually found on the BMO website or by following instructions in the card package). You’ll typically need to enter your card number, expiry date, and potentially some personal identification information.
2. Phone Activation: Alternatively, you can activate your card by phone. Look for an activation phone number printed on a sticker on your new card or in the accompanying cardholder agreement package. You will likely be prompted to enter your card details and answer security questions.
3. Through BMO Online Banking/Mobile App: If you are already a BMO customer and use their online banking or mobile app, you might be able to activate your new credit card directly through your account. Regardless of the method chosen, follow the instructions carefully. Once activated, sign the back of your card immediately to further enhance its security.

Disadvantages of the BMO AIR MILES®† Mastercard®

While the BMO AIR MILES®† Mastercard® is a good option, it has some drawbacks.

The 1 AIR MILES for every $20 spent earning rate is relatively low for high spenders, offering less return than some other cards.

The value of AIR MILES varies by redemption, with travel offering the best value, while merchandise or gift cards yield less.

The card typically charges a 2.5% foreign transaction fee, which can significantly reduce value for international purchases.

Finally, it lacks premium travel benefits like lounge access, comprehensive travel insurance, or concierge services, which are usually found on higher-tier cards.

The BMO AIR MILES®† Mastercard® serves as an excellent entry-level rewards credit card for Canadians looking to accumulate AIR MILES Reward Miles without the burden of an annual fee.

Its straightforward earning structure, attractive welcome offers, and flexible redemption options make it a solid choice for everyday spending.

While its earning rate might not be the highest, and it lacks extensive premium benefits or foreign transaction fee waivers, its zero annual fee proposition makes it an incredibly accessible and valuable tool for consistent mile accumulation.

For those who consistently pay their balance in full and are strategic with their AIR MILES redemptions, this card can be a rewarding addition to their wallet, paving the way for future travel adventures or other desired rewards.