Student BMO AIR MILES Mastercard

Welcome Bonus

Get 800 AIR MILES Bonus Miles (that’s enough for $80 towards purchases with AIR MILES Cash)

N/A

Annual Fee

$0

Annual Rewards

0.04x-0.12x Miles

N/A

Rewards on Approval

N/A

Purchase Rates

20.99%

Cash Advance Rates

22.99%

Balance Transfer Rates

N/A

Table of Contents

The Student BMO AIR MILES® Mastercard® is a credit card designed specifically for students who want to earn rewards while managing their finances. With this card, students can earn AIR MILES® reward miles on all eligible purchases, allowing them to accumulate miles that can be redeemed for a variety of valuable rewards. The card offers student-friendly features such as flexible payment options, a grace period on purchases, and access to online and mobile banking services for easy account management. Additionally, it comes with added benefits like purchase protection, extended warranty coverage, and exclusive offers from partner merchants. With no annual fee, the Student BMO AIR MILES® Mastercard® is an attractive option for students looking to earn rewards without extra costs.

Pros

  1. Rewards Program: The card allows students to earn AIR MILES® reward miles on all eligible purchases, providing an opportunity to accumulate miles and redeem them for a variety of valuable rewards, including flights, merchandise, and event tickets.

  2. Student-Friendly Features: The card offers features tailored to the needs of students, such as flexible payment options and a grace period on purchases. This can help students manage their finances effectively while building credit.

  3. Additional Benefits: Cardholders can enjoy additional perks such as purchase protection, extended warranty coverage, and access to exclusive offers and discounts from partner merchants.

  4. No Annual Fee: The Student BMO AIR MILES® Mastercard® typically does not charge an annual fee, making it a cost-effective choice for students.

  5. Building Credit History: Responsible use of the card can help students establish and build their credit history, which can be beneficial for future financial endeavors.

Cons

  1. Limited Acceptance: As the card is an AIR MILES® Mastercard®, it may have more limited acceptance compared to cards with broader payment networks like Visa or Mastercard. Students may encounter some merchants or online platforms that do not accept this specific card.

  2. Reward Redemption Restrictions: The redemption options for AIR MILES® reward miles may have certain limitations and restrictions, such as blackout dates or limited availability for flights or merchandise. Students should review the redemption terms and conditions to ensure the rewards align with their preferences.

  3. Variable Reward Value: The value of AIR MILES® reward miles can vary depending on the redemption option chosen. Some rewards may offer a better value for miles than others, so students should consider the value proposition of the rewards they plan to redeem.

  4. Potential for Debt Accumulation: Like any credit card, there is a risk of accumulating debt if the card is not used responsibly. Students should be cautious and ensure they can manage their expenses and pay off their balances to avoid interest charges and debt accumulation.

Details & Eligibility

  • 500 - 679
  • N/A
  • N/A
  • $0
  • N/A
  • Mastercard
  • No
  • 20.99%
  • 22.99%
  • N/A
  • N/A
  • N/A
  • N/A

The Student BMO AIR MILES® Mastercard® is a credit card specifically designed for students who want to earn rewards while managing their finances. It offers a range of benefits and features tailored to meet the needs of students, including the opportunity to earn AIR MILES® reward miles on everyday purchases. Let’s dive into the details of this credit card.

  1. Earning AIR MILES®:

    • With the Student BMO AIR MILES® Mastercard®, you can earn AIR MILES® reward miles on all eligible purchases made with the card. This allows you to accumulate miles that can be redeemed for a variety of rewards, including flights, merchandise, event tickets, and more.
    • You earn 1 AIR MILES® reward mile for every $20 you spend on eligible purchases. This includes purchases made both in-store and online, making it convenient for students who frequently shop online or at various retail locations.
    • By using your card for everyday expenses like groceries, transportation, or dining out, you can quickly accumulate reward miles over time, which can then be redeemed for valuable rewards.
  2. Welcome Bonus:

    • The Student BMO AIR MILES® Mastercard® often comes with a welcome bonus for new cardholders. The bonus miles are typically awarded after reaching a minimum spending requirement within the first few months of card membership.
    • These welcome bonuses can vary from time to time, so it’s important to check the current offer when considering the card.
  3. Student-Friendly Features:

    • As a student, managing your finances is crucial. The Student BMO AIR MILES® Mastercard® offers features that are specifically tailored to meet the needs of students.
    • The card provides flexibility in payment options. You can choose to pay your balance in full each month or opt for minimum payments. However, it’s always advisable to pay off the full balance to avoid interest charges.
    • BMO offers a grace period on purchases, giving you a specified period during which you can pay off your balance without incurring any interest charges.
    • Online and mobile banking services are available, allowing you to easily track your spending, view your statements, and make payments conveniently from anywhere.
  4. Additional Benefits:

    • The Student BMO AIR MILES® Mastercard® comes with additional perks and benefits that can enhance your overall experience as a cardholder.
    • Purchase protection and extended warranty coverage are often included, which can provide peace of mind when making major purchases with your card.
    • BMO also offers zero liability protection, meaning you won’t be held responsible for unauthorized transactions if your card is lost or stolen.
    • Access to special offers and discounts from partner merchants is another advantage of the card. You may receive exclusive deals on travel, shopping, entertainment, and more.
  5. Annual Fee:

    • The Student BMO AIR MILES® Mastercard® typically does not charge an annual fee, making it an attractive option for students looking to earn rewards without incurring extra costs.
  6. Eligibility and Application Process:

    • To be eligible for the Student BMO AIR MILES® Mastercard®, you must be a student enrolled in a recognized Canadian post-secondary institution.
    • The application process is generally straightforward and can be completed online or at a BMO branch. You’ll need to provide basic personal information, as well as details about your education and financial situation.

It’s important to note that credit cards, including the Student BMO AIR MILES® Mastercard®, should be used responsibly. As a student, it’s advisable to keep track of your spending, pay your bills on time, and avoid accumulating debt beyond what you can comfortably manage. Using a credit card responsibly can help build a positive credit history, which can be beneficial for future financial endeavors.

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