The BMO AIR MILES World Elite Business Mastercard offered by the Bank of Montreal (BMO) stands out in the financial market as a smart choice for business owners seeking to optimize their spending and reap significant rewards.

In this text, we will detail the features, advantages, and application process of this card, providing a comprehensive overview for those considering acquiring it for their business.

Key information about the credit card

The BMO AIR MILES World Elite Business Mastercard offers a convenient and effective way to accumulate Miles and enjoy a variety of exclusive benefits. With this card, you earn 1 Mile for every $12 spent, turning every purchase into an opportunity to increase your rewards. Additionally, by using the card at participating AIR MILES partners, you can earn up to 4 times more Miles, further maximizing your earnings.

Enrollment in this card also comes with a generous welcome package, valued at over $1,000. This includes the possibility of earning up to 3,000 bonus Miles in the first three months of use, giving your rewards account a significant boost from the start.

How the annual fee works

With the BMO AIR MILES World Elite Business Mastercard, users enjoy an annual fee of $149, but this fee is waived in the first year. This advantage offers new cardholders the opportunity to explore all its benefits without worrying about additional costs during the initial period.

How the credit limit is determined

When applying for the BMO AIR MILES World Elite Business Mastercard, the assigned limit is determined through a detailed credit assessment. This evaluation considers various financial factors, such as credit history, income, and financial responsibility, to set an appropriate limit matching the applicant’s profile.

Advantages of the credit card

• Miles accumulation: Accelerated Miles accumulation allows you to quickly earn Miles on every purchase, both on everyday business expenses and significant investments for your company’s growth.

• Access to premium benefits: By acquiring the card, you will have access to a variety of premium benefits. This includes exclusive perks, such as airport lounge access, travel insurance, and other advantages that enhance your experience.

• Annual fee waiver: In the first year of use, the annual fee is waived. This offer represents significant savings for business owners, allowing you to enjoy the card’s benefits without additional financial concerns.

• Employee card abuse protection: By acquiring the BMO AIR MILES World Elite Business Mastercard, you will have protection against employee card misuse. This means that with the liability waiver program, you can keep control over company spending and protect yourself against potential abuse, ensuring secure financial management.

• Shell fuel discounts: To help save on essential expenses, the card also offers discounts on fuel at Shell stations. As a cardholder, you can enjoy exclusive discounts when refueling, providing more value and savings for your business.

Standout feature

One of the most attractive features of the BMO AIR MILES World Elite Business Mastercard is the complimentary access to airport VIP lounges through the Mastercard Travel Pass provided by DragonPass. This benefit ensures extra comfort and convenience during business trips, making each journey more pleasant and productive.

Disadvantages

• Annual fee after the first year: While the first year is fee-free, users should be aware that the annual fee will be charged in subsequent years.

• Relatively high interest rates: Applicable interest rates on unpaid balances can be significant, so it is important to use the card responsibly.

• Eligibility restrictions: Not all applicants may be approved for the card, depending on their financial situation and credit history.

Notable drawback

The most prominent disadvantage of the BMO AIR MILES World Elite Business Mastercard is the high-interest rates. For business owners unable to pay the full balance monthly, these rates can result in significant additional costs over time, diminishing the benefits of the rewards program.

Who can apply for this card?

Applicants must meet minimum income requirements. Personal income must be at least $80,000, or household income must reach at least $150,000. Additionally, the business income should be at least $250,000. Alternatively, if the business income doesn’t meet this threshold, total assets under management must total $400,000 for the application to be valid.

Besides financial requirements, documentation is crucial in the application process. Business owners must present personal identification, such as a driver’s license or passport, to verify their identity. Depending on the nature of the business, additional documentation might be required.

How to apply for the BMO AIR MILES World Elite Business Mastercard

Online

To apply for the BMO AIR MILES World Elite Business Mastercard, start by visiting the official BMO website. Once on the homepage, navigate to the section dedicated to credit cards. Specifically, look for the page that discusses the BMO AIR MILES World Elite Business Mastercard.

Once on the correct page, you will see a highlighted button labeled “APPLY NOW.” Click this button to begin the application process. This click will redirect you to an online application form, where you will need to provide a series of detailed information. Start by filling out your personal information, such as name, address, phone number, and email address.

Then, provide your business details, including the company name, type of activity, date of establishment, and business address. Additionally, you will need to enter relevant financial information, such as the company’s annual income, your position in the company, and other financial details that may be requested.

While filling out the form, carefully follow all additional instructions provided on the site. After completing the application form and submitting the data, you will need to wait for the review and approval of your request. If the application is approved, the card will be sent to the address provided in the application form.

Via mobile app

To start the process of applying for the BMO AIR MILES World Elite Business Mastercard through the BMO mobile app, begin by downloading and installing the official app “BMO Mobile Banking” on your mobile device. You can find the app in your device’s app store, either in the App Store for iOS or the Google Play Store for Android. After locating the app, click the download button and wait for the installation to complete.

Once the app is installed, open it and log into your existing account using your credentials. If you do not yet have an account, follow the steps provided by the app to create a new one. This process usually involves entering basic personal information, such as your name, email address, and creating a secure password.

After logging into the app, navigate to the financial products section. Within this section, you will find various options for services and products offered by BMO. Specifically, look for the option to apply for a credit card. Among the available credit card options, locate and select the BMO AIR MILES World Elite Business Mastercard.

This step will direct you to the specific application form for this card. In the form, you will need to provide a series of detailed information. Start by entering your personal information, such as full name, date of birth, and residential address.

Then, add your business details, such as the company name, business address, type of activity, and date of establishment. Additionally, include relevant financial information, such as the company’s annual income and your position in the company.

While filling out the form, carefully follow all the instructions provided by the app to ensure all necessary information is included and correct. Review all the data before submitting the application to avoid errors that could delay the process. After submitting the application, wait for the review and approval of your request. Once your request is approved, your card will be delivered to the address provided in the form.

In-person at a branch

To start the process of applying for the BMO AIR MILES World Elite Business Mastercard in person, begin by locating the nearest physical BMO branch. You can do this using the branch locator available on the official BMO website or through a quick internet search. Enter your current location, and the system will provide a list of the nearest branches, along with their addresses and operating hours.

Once you have identified the most convenient branch, contact them to schedule a meeting with a bank representative. Inform them that you wish to discuss applying for the BMO AIR MILES World Elite Business Mastercard during the meeting.

Before the meeting, gather all the necessary documents for the application process. These documents typically include personal identification (such as an ID card or passport), business-related documents (such as business registration and proof of business address), and relevant financial information (such as bank statements and business tax returns).

On the day of the meeting, go to the branch at the scheduled time and meet with the bank representative. During the meeting, the representative will assist you in filling out the application form for the BMO AIR MILES World Elite Business Mastercard.

After filling out the form with the representative’s assistance, submit all gathered documents and the completed form to the bank representative so they can process your application. After submission, your application will undergo a detailed review by the bank. If your application is approved, the card will be sent to the address provided during the application process.

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