Applying for the BMO World Elite Mastercard Credit Card: learn how!
The BMO World Elite Mastercard card has a rewards program that gives you 2% back on all your purchases. Plus, there's no annual fee for the first year! Do you want to learn how to apply? Read on for everything you need to know.
by Aline Barbosa
BMO World Elite Mastercard Credit Card application: get all the perks and benefits of a world elite card!
The BMO World Elite Mastercard is a travel-related credit card with premium benefits. By signing up, you get up to 60.000 BMO points and no annual fee during the first year of card membership.
Its cash back rates can become profitable if you prioritize the card for daily expenses. By paying for car rentals from companies like Alamo and National Car Rentals, you get 5% back. There’s also a 3% rate on dining, entertainment, and travel. Plus, a 2% return on all other eligible purchases.
For eligibility, you must show proof of annual income of at least $80.000. As for credit scores, BMO only considers applicants with a credit rate between good and excellent. There is a fixed 20.99% APR for purchases and international coverage by Mastercard.
You can redeem all earned points as a statement credit or a direct deposit into a BMO checking or savings account. There’s also an option to redeem them to cover travel expenses ranging from airfare to hotel rooms. The BMO World Elite Mastercard card also provides access to airport lounges worldwide.
Keep reading if you want to learn how to apply for this fantastic product!
You can apply for a BMO World Elite Mastercard card online through the bank’s official website. Just locate the “credit cards” section on the top menu and select the “lifestyle and travel” option. The BMO World Elite should be the third option.
Click the “apply now” button underneath the credit card photo to continue the process. BMO will remind you that you need an annual income of at least $80.000 before the next step. You also need to be older than 18 and must not have declared bankruptcy by the bank’s rules in the last 7 years.
Then, BMO requires you to fill in a series of online forms, but first, you need to read and agree to their terms regarding all charges, fees, and pricing. Next, you need to inform them about your personal and contact details. After you’re done with the application, click the “apply” button and wait for the bank to analyze your financial profile.
If all information you provided goes along with their requirements, BMO should contact you with more details about the credit card.
Apply using the app
If you’re already a BMO customer, you can apply for a BMO World Elite Mastercard card using their mobile app. All you need to do is locate the “credit cards” section and see if the World Elite product is available to your financial profile.
If you’re not an existing BMO client, you’ll need to create an account and apply for a new credit card on their official website.
BMO World Elite Mastercard credit card vs. Oakstone Platinum Secured Mastercard credit card
However, if your current credit score won’t allow you to have a BMO World Elite Mastercard card, we can help! Meet the Oakstone Platinum Secured Mastercard card. With it, you can repair your credit history by keeping up with its monthly payments and using it responsibly.
Check the comparison between the two cards below and follow the link if you want to apply for an Oakstone Platinum card!
|BMO World Elite Mastercard||Oakstone Platinum Secured Mastercard|
|Credit Score||700 or higher||No credit required|
|Annual Fee||$150 (waived during its first year)||$49|
|Regular APR||20.99%||9.99% variable|
|Welcome bonus||60.000 points – 30k points with $3000 in eligible|
purchases within 90 days and 2.5k points each
month with $2000 eligible purchases within
the next 12 months
|Rewards||5 BMO points in car rentals;|
3 BMO points in travel, dining, and entertainment;
2 BMO points per dollar in eligible purchases.
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