The BMO Premium Rewards Mastercard has an offer for 35,000 bonus points when you spend $5,000 within the first three months (ways to meet this spending requirement). According to BMO, this welcome offer is worth over $435 when you redeem for travel awards.
Although it might seem like a generous bonus, you’ll also have to spend quite a bit to qualify. See our list for more travel credit cards.
Slated as a premium travel rewards card, the BMO Premium Rewards card offers triple points on dining, hotel and airfare, but only on up to $2,500 in combined purchases every quarter. So it’s a good fit if you’re a light to moderate spender in these three bonus categories.
For $79 a year (first year waived), you’ll also enjoy Priority Pass Select membership for complimentary airport lounge access and a 15% anniversary point bonus. Plus, pay no foreign transaction fees when you make purchases abroad.
Card Offer Details
The BMO Premium Rewards Mastercard® offers these features and benefits:
- Earn Rewards: You can earn 3 points per $1 spent on eligible dining, hotels, and airfare, up to $2,500 in combined spend each calendar quarter. You also earn 1 point per $1 spent on all other eligible purchases.
- Anniversary Bonus: Receive a 15% bonus on points earned every year.
- Welcome Offer: Get 35,000 bonus points when you spend $5,000 within 3 months of opening your account.
- Annual Fee: The annual fee is $79, but it is waived for the first year.
- Priceless Cities: Enjoy access to unique experiences across the globe exclusive for Mastercard cardholders.
- Priority Pass Select: Gain access to over 850 airport VIP lounges worldwide with 2 complimentary visits to participating lounges.
- No Foreign Transaction Fees: There are no additional fees for transactions made outside of your home country.
- Mastercard ID Theft Protection: Benefit from identity monitoring and resolution services to protect against identity theft.
- Mastercard Zero Liability: You are not held responsible for unauthorized purchases made with your card.
- Mastercard Identity Check: Provides an additional layer of security for online transactions.
- Cellular Wireless Telephone Protection: Automatically eligible for coverage up to $600 for your cellular wireless telephone at no additional cost.
- Lost or Damaged Luggage Insurance: Reimburses the actual cost of repairing or replacing your checked or carry-on luggage if it’s lost or damaged.
- Extended Warranty: Doubles the original manufacturer’s or U.S. store brand warranty for up to 24 months on most new items.
Overall, the BMO Premium Rewards Mastercard® offers generous rewards for specific categories, welcome bonus points, access to exclusive experiences, airport lounge access, and various insurance and protection benefits.
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Bottom Line
The BMO Premium Rewards Mastercard® offers a decent rewards program with 3 points per $1 spent on eligible dining, hotels, and airfare, up to $2,500 per quarter.
The 15% anniversary bonus on points earned each year is a nice perk too. The welcome offer of 35,000 bonus points for spending $5,000 in the first three months is also pretty good.
It’s worth noting that there is an annual fee of $79, although it’s waived for the first year.
If you’re someone who enjoys unique experiences, the access to Priceless® Cities as an exclusive benefit for Mastercard cardholders could be a nice feature.
The card also provides access to over 850 airport VIP lounges worldwide through Priority Pass Select, including two complimentary visits. If you frequently travel and value lounge access, this could be a valuable benefit.
One significant advantage is the lack of foreign transaction fees, which can save you money when using the card internationally.
In terms of security, the card offers Mastercard ID Theft Protection, including identity monitoring and resolution services. There’s also the Mastercard Zero Liability policy, which protects you against unauthorized purchases.
On the downside, some of the benefits, such as the Cellular Wireless Telephone Protection, Lost or Damaged Luggage Insurance, and Extended Warranty, may not be relevant or valuable to everyone.
Overall, it seems like a solid rewards card with some good perks, especially if you spend a lot on dining, hotels, and airfare.
See more from BMO:
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- BMO Bank Checking Bonus: Up To $600 Offers – Ends 12/8/2023
- BMO Bank: How Its $600 Bonus & Banking Solutions Align with Your Long-Term Goals
- BMO Business Platinum Rewards Mastercard® 100,000 Bonus Points
- BMO Cash Back Mastercard $200 Bonus Cash
- BMO Platinum Rewards Mastercard 25,000 Bonus Points ($300 Value)
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