Wish there was a way to take flight with rewards points, but not a fan of using your credit card on everyday purchases? Fortunately, there’s a new option available to travel-hungry banking customers - a chequing account that earns AIR MILES reward miles with every use.
The BMO® AIR MILES® Bank Plan is the only chequing account in Canada that offers AIR MILES, and comes with a sweet sign up bonus - 1,000 AIR MILES right off the bat (considerably better than the usual free cheque book banks dole out to new customers). The best part - those are enough miles to take a short-haul (within the same province) flight!
To access these sign up rewards, new chequing clients need only make a $30 purchase within the first 60 days of card use.
In addition to collecting 1,000 AIR MILES off the bat, using your debit card on purchases will earn 1 mile for every $30 spent. You’ll also receive 50 AIR MILES per month for balances that remain over $3,000.
While regular credit card use can effectively earn rewards and points quickly, the “charge it now, pay it later” approach only works for those disciplined enough to not let purchases linger and accumulate interest. For those not as dedicated to promptly paying their balances, sticking to a cash diet is more financially responsible, and avoids the risk of accumulating debt.
Keep in mind that while this debit card comes free of daily transaction limits, it does have an annual fee of $13.95, which can offset some of the rewards earned over time.
The Big Numbers:
Transactions: Unlimited
Annual Fee: $13.95
Reward Return: 1 AIR MILE per $30 spent
You can score the BMO AIR MILES chequing account, along with other great offers, in our 5 Year Anniversary Deal section!