Thank you for asking us about the differences between the BMO Rewards World Elite Card and the Air Miles World Elite Card. If you applied for the Rewards card and thought it was an Air Miles card, and now want to know what options you have, we`ll help. If you`re an Air Miles fan and only want miles, your main option is to call BMO and ask them to change their card (we`re not sure if that works). Given the authorization requirements for both are identical, the bank could simply show leniency and exchange your card for the one you want. Or you can simply cancel it and ask for the right card again. While not primarily known as a credit transfer card, BMO AIR MILES®† MasterCard®* offers this option to new cardholders who want to consolidate their credit card debts and collect miles for their daily purchases. Those who transfer a balance from another credit card or bank (excluding BMO) pay only 1.99% interest on that amount for 9 months. Few strategies are as effective in reducing compound interest charges. The BMO CashBack® World Elite®* MasterCard®* combines a high cashback rate with all the valuable benefits of the World Elite label and is one of the best in the bank. The card has a high annual fee of $120 (first year for free), but the rate that allows you to accumulate cashback wins by a large margin. If you spend $3000 a month, you earn $680 in cashback in the first year. These include the generous welcome bonus up to 10% cashback for the first 3 months, after which the rate will be reduced to 1.5% even more competitive.
As a general rule, any card with a minimum income requirement must also verify your income to be approved. The BMO Air Miles World Elite card is no exception, as one of the best and most prestigious travel cards ever. Your income would have to be $80,000 or $150,000 in household income to be approved, and while some applicants may get around these requirements by having excellent credits or many assets (creditworthiness has a lot of variables), the bank will definitely want to check its income in any case. You have a better chance of bypassing income requirements if you want to get a card from a bank you`re already a member of. As a known entity, the bank`s familiarity with you is a blessing and leads to a better chance of being approved for higher-level cards, so if you have very little income, then try to find a similar card from your current bank(s) like MBNA or RBC. The Bank of Montreal is a highly respected institution among Canadians and offers many useful financial products, including credit, mortgages, investments and, of course, credit cards. Founded in the early 19th century, it is now one of the “Big Five” banks in Canada. The bank offers credit cards that match the lifestyle of almost all cardholder profiles, including different issuance habits, income and credit levels, and types of rewards.. . .