BMO Blue Rewards World Elite Mastercard review

How the Blue Rewards World Elite earns points

The card has two earn rates. Groceries, gas, EV charging, wholesale purchases and alcohol earn 2 points per dollar, and everything else earns 1 point per dollar. The 2x list covers a big slice of a typical household budget, which is the card’s main appeal.

As an example, a household that spends $600 a month on groceries and $200 on gas earns 1,600 points a month from those categories, or 19,200 points a year. Adding $1,000 a month of other spending at 1 point per dollar brings the yearly total to 31,200 points.

The welcome offer

A welcome offer may be available to new cardholders, but the current listing doesn’t spell out a points total or spending requirement. Check BMO’s website for the current offer and its terms before you apply.

Separately, the $150 annual fee is waived in the first year. That gives you a full year to see how many points your regular grocery and gas spending produces before you pay anything.

Travel perks

Beyond points, the card includes airport lounge access and a NEXUS rebate, two benefits usually associated with travel-focused cards. The NEXUS rebate is most useful if you cross the Canada–US border often.

Check BMO’s terms for how lounge access works, including which lounges are included and whether visits are free or paid per entry, before counting it as part of the card’s value.

Fees, interest and the fine print

The annual fee is $150, waived in the first year. From year two, the example household above would earn 31,200 points a year, so it’s worth comparing that with what a no-fee card would earn on the same budget.

Another way to look at it: the $800 a month of grocery and gas spending earns 19,200 points a year at 2x, which is 9,600 more than it would earn at 1x. Those extra points, plus the lounge access and NEXUS rebate, are what the fee pays for.

Foreign currency purchases carry a 2.5% fee, adding about $25 to every $1,000 spent abroad or with foreign online stores. Purchases are charged 20.99% interest and cash advances 22.99%. Paying the full statement balance by the due date avoids purchase interest.

Who it suits, and who should look elsewhere

The Blue Rewards World Elite suits households that spend a lot on groceries and gas, shop at wholesale stores, and travel enough to use lounge access and a NEXUS rebate. With groceries and gas at the same 2x rate, there’s no need to juggle cards between the supermarket and the pump.

It’s a weaker fit if you don’t meet the $80,000 personal income requirement, often spend in foreign currencies, or put most of your spending outside the 2x categories, where you’d earn just 1 point per dollar.

How it compares

The BMO CashBack World Elite Mastercard comes from the same issuer and costs $120 a year. It earns up to 5% cash back on groceries and lists a welcome offer of up to $260 cash back, so grocery-heavy households that don’t need points may prefer it.

If you’d rather avoid a fee, the MBNA Rewards Platinum Plus Mastercard has no annual fee, earns up to 2x on groceries and offers up to 10,000 MBNA Rewards points. You give up the lounge access and NEXUS rebate, but there’s nothing to pay each year.

Before you apply

The recommended credit score is 720 or higher, and the card carries an $80,000 personal income requirement. BMO makes the final decision based on your full credit profile. Earn rates, perks and the welcome offer can change, so confirm the current terms on BMO’s website before you apply.