BMO World Elite Bonus Deadline Extended

BMO World Elite Bonus Deadline Extended

Offer is good until June 1, 2014

The credit card competition is going strong in Canada, at least relative to the traditional situation. The latest is the Bank of Montreal extending their deadline for the BMO World Elite bonus of 30K points and first year free from March 3, 2014 to June 1, 2014. There are a number of competing offers and it looks as though BMO doesn’t want to be the first one to pull back their offer. Not when CIBC and TD are posting that new credit card sign ups are exceeding expectations.

Is this a good card to get for the bonuses? Without question it is.

The highlights of the sign-up

  • 30 000 points that can be redeemed for $300 via BMOs travel service for flights, hotels etc
  • First year free
  • Priority Pass lounge membership with 4 free passes

What makes the card interesting to use

Points are a clear 2% of all purchases (not just groceries/gas/pharmacy) like some cards. Depending on your spending, it may be worth keeping this card even if you have to pay the $150 per year fee. The Capital One Aspire is the competition.

The BMO World Elite insurance for trip cancellation, trip interruption and rental car collision is valid if you pay with points or the card and even if you only partially pay with either. Most credit card insurance policies require the full purchase to be made on the card.

Travel medical insurance on the BMO World Elite Mastercard is valid up to 21 consecutive days (extendible to 31 for $29 per trip if you and your spouse are under 65), unlimited times per year. While no where close to the National Bank Platinum’s 60 day limit, this is free insurance for the first year.

Conclusion

The $300 is easy to use for anyone who travels while the lounge passes and Prioity Pass membership may have additional value for others. The extension of the deadline means you can sign up for other cards now and have three months for your credit score to breathe.