Like many of you, I’ve been down on Air Miles ever since the expiry date fiasco a few years ago. But the Air Miles rewards program still packs some punch due to its lengthy list of sponsors and flexible options for redeeming miles.
The best Air Miles credit card on the market is the BMO Air Miles World Elite MasterCard and right now this card has a terrific promotion for new applicants.
Here’s a review of the card benefits:
BMO Air Miles World Elite MasterCard review
First of all, the $120 annual fee is waived in the first year. Next, you’ll get 1,000 bonus Air Miles after your first purchase. Finally, you’ll get an additional 2,000 bonus Air Miles when you spend $3,000 in the first three months.
This card is ideal for serious Air Miles collectors because with it you can earn 1 reward mile for every $10 in credit card purchases, plus it’s the only card that gives you 15 percent flight discounts on all Air Miles flights in North America with no blackout periods.
The downside: You’ll need a minimum annual income of $80,000, or household income of $150,000(!) to qualify.
Other BMO Air Miles World Elite MasterCard benefits:
- Double dip at Air Miles sponsor locations such as Sobeys, Shell, Metro, Rona, and Rexall to accelerate your earn rate.
- Receive a 25 percent discount on car rentals when you use your card at National Car Rental and Alamo Rent A Car locations.
- Double the original manufacturer’s warranty period up to a maximum of one additional year.
- Added purchase protection to insure your items against theft or damage for 90 days from date of purchase.
- Travel and Medical protection includes Trip Cancellation, plus Collision Damage Waiver benefits on rental cars, 15 days of Out-of-Province/Out-of-Country Emergency Medical benefits up to $2 million, and more.
- Exclusive access to VIP Airport Lounges worldwide, with the included annual Priority Pass membership and two complimentary passes per year (over $150 value per year).
Air Miles Rewards: Redeem for Flights or “Cash Back”
Once you’ve reached the $3,000 minimum spend threshold you’ll have earned 3,000 bonus Air Miles plus another 300 or so from your regular spending. What to do with 3,300 Air Miles? Your best bet is to redeem them for flights.
*Note: Since Air Miles has two rewards categories – Cash Miles and Dream Miles – you’ll need to select your preference BEFORE you start earning miles. That’s because you cannot transfer miles between categories after they’ve been earned. So, if it’s flights you’re looking for then you’ll want to turn your preference to Dream miles. If you’d prefer to redeem your miles in-store on everyday purchases then select Cash miles.
Where can you fly on Air Miles? A round-trip ticket from Calgary to Los Angeles during high season (June 1 to Sept 15) is worth 3,060 Air Miles. The exact same flight on Air Canada costs $518.
Compare that to the Air Miles Cash collector who could use the same amount of Air Miles to redeem in-store at participating sponsors (like Shell) for $320*.
*95 miles = $10 cash back
Final thoughts
The BMO Air Miles World Elite MasterCard meets my criteria for credit card churning because the first year is free and there’s a generous welcome bonus that’s fairly easy to attain. Spending $3,000 in three months is doable, especially on a card as widely accepted as MasterCard.
Gobble up 3,000 bonus Air Miles and redeem them for a North American flight or pocket the cash by saving in-store on your everyday purchases.
I love loading up on rewards points to get free flights and hotels. Even better when you can earn those rewards points for free without much hassle. Right now, this three-pack of CIBC rewards cards offers serious points collectors the chance to earn a minimum of $850 in travel rewards (h/t to Barry Choi at Money We Have for pointing out this gem).
CIBC Rewards Card 3-Pack
Here’s how this works:
CIBC’s in-house rewards program is called Aventura and for a limited time the bank has three of its Aventura rewards credit cards on special offer.
CIBC Aventura Visa Infinite Card
First up is the CIBC Aventura Visa Infinite Card. This card is one of the top travel rewards credit cards on the market with a big sign-up bonus, decent earn rate on your spending, and excellent insurance and benefits.
- First year annual fee rebate (saves $120)
- Welcome bonus of 15,000 Aventura points with first purchase
- Additional 5,000 Aventura points when you spend at least $1,000 within the first four months
- 2 points for every dollar spent on purchases through the CIBC Rewards Centre
- 5 points for every dollar spent at gas stations, grocery stores, and drugstores
- 1 point for every dollar spent everywhere else
The bottom line: You’ll get 20,000 points, or a minimum of $200 in travel, for free when you spend $1,000 in four months.
CIBC Aventura Visa for Business Card
Small business owners or sole proprietors can add the CIBC Aventura Visa for Business Card to their wallet and earn a huge sign-up bonus, plus a $120 travel credit, and a first year annual fee rebate.
- First year annual fee rebate (saves $120)
- Welcome bonus of 20,000 Aventura points with first purchase
- Additional 10,000 Aventura points when you spend at least $1,000 within the first three months
- 2 points for every dollar spent on purchases through the CIBC Rewards Centre
- 5 points for every dollar spent on gas and travel spending
- 1 point for every dollar spent everywhere else
The bottom line: You’ll get 30,000 points, or $300 in travel, plus a $120 travel credit for free when you spend $1,000 in three months.
CIBC Aventura Gold Visa Card
A nearly identical twin to the Aventura Visa Infinite Card, the Aventura Visa Gold Card offers the same benefits for new applicants, such as the first year annual fee rebate, big sign-up bonus, and decent earn rate. The only difference is the Gold Card has less insurance benefits and requires a lower income to qualify.
- First year annual fee rebate (saves $120)
- Welcome bonus of 15,000 Aventura points with first purchase
- Additional 5,000 Aventura points when you spend at least $1,000 within the first four months
- 2 points for every dollar spent on purchases through the CIBC Rewards Centre
- 5 points for every dollar spent at gas stations, grocery stores, and drugstores
- 1 point for every dollar spent everywhere else
The bottom line: You’ll get 20,000 points, or a minimum of $200 in travel, for free when you spend $1,000 in four months.
What to do with Aventura Points?
As you can see, with this three-pack of Aventura rewards cards from CIBC, you can earn a pile of travel rewards for no annual fee and a ridiculously low minimum spend.
Let’s say you apply for all three cards and meet the minimum spend requirements – you’ll have earned 70,000 Aventura points from the three welcome bonuses, plus at least another 3,000 Aventura points from regular spending. You’ll also have that $120 travel credit from the Aventura Visa for Business Card.
That’s at least $850 in travel rewards value!
So what to do with all of those Aventura points? Well, the best way to redeem your points is always going to be on flights.
Here’s the Aventura Flight Rewards Chart that represents the number of points needed for a round-trip price to the various destination zones:
Keep in mind that you’ll have to book and redeem your points through the CIBC Rewards Centre. Points are super flexible, though, as they can be used for any seat on any airline, can cover taxes and fees, and they never expire.
Final thoughts
A savvy points collector can unlock some serious value from this CIBC rewards card three-pack. Get $850 in travel with no annual fees and a very attainable minimum spending limit in the first four months.
Even if you don’t qualify for a business Visa you can still earn 40,000 points from the two personal Aventura cards. That’s a minimum of $400 in travel rewards – for free.
Let me know your thoughts on the CIBC rewards card three-pack.