| Class | Gold |
|---|---|
| Type | MasterCard |
| Issuer | Bank Of Montreal |
| Annual Fee | $90 |
| Interest Rate | Unknown |
| Min. Income | Unknown |
| Reward Type | Points |
|---|---|
| Reward | 1 Air Mile / $15 spent |
| Reward Return | 1.33-3% |
| Sign Up Bonus | Unknown |
| Grace Period | Unknown |
| Apply | Air Miles Cards |
This credit card is part of our Canadian credit card Hall Of Fame. This page contains historical information as it was when the credit card was either still available or when it was at its peak and is for reference purposes only. Please refer to The Best Credit Cards In Canada page for currently available Canadian credit cards.
The Bank of Montreal Mosaik Gold Air Miles MasterCard was one of the best deals going for Air Miles collectors who were tired of getting a measly 20 cents per mile value for their Air Miles, or even less. The reason why it was so good is because it enabled you to book flights anywhere in North America for a paltry 1600 Air Miles. When you compare that to the usual 4800 to 6000 mile cost for coast to coast flights, it is a real bargain. And, if you consider such a flight in Canada typically costs $700 or more before taxes and fees, then you can calculate the value of an Air Mile to be 43.75 cents and the reward return of the credit card to be 2.92%. Much better than the 1.33% return you get when valuing Air Miles at 20 cents per mile, which is already quite generous by some people’s standards!
A popular strategy that many people used to employ was collecting Air Miles at sponsors, during promotions, and by using other no annual fee Air Miles credit cards and then once they needed to book a reward flight they would upgrade to this credit card to use the 1600 mile cap on their flight. They would later cancel or downgrade the card to avoid paying the annual fee again and repeat this process as many times as needed. Unfortunately, BMO and WestJet decided to discontinue the credit card in early 2008 and now that the card is gone, it can be much harder to get good value for your Air Miles. However, if you are interested in other, still valid, ways to get the most for your Air Miles, you should visit our comprehensive Air Miles section that will teach you how to make the most of the program.
Positives:
- Increased earning rate of 1 mile / $15 spent.
-
1600 mile cap on the cost to redeem for flights anywhere in North America.
- These flights normally cost up to 6000 miles.
Negatives:
- Higher annual fee than most other Air Miles credit cards.
See Other Available Air Miles Credit Cards
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