Battle of the Best Credit Cards: Capital One Aspire Travel World Elite vs. BMO World Elite

Jordann Brown
by Jordann Brown September 20, 2015 / No Comments

Travelling to new places and having new experiences are some of the best parts of life. But as anyone with a demanding career knows, it can be hard to find the time and money to make your travel dreams a reality. Fortunately, there are several travel rewards credit cards designed for working professionals that offer points redeemable for free flights, hotels and accommodations.

Here’s a quick comparison of the two best travel credit cards for Canadians with annual incomes of more than $70,000 to $80,000 per year: the Capital One Aspire Travel World Elite MasterCard and the BMO World Elite MasterCard.

  BMO World Elite MasterCard Capital One Aspire Travel World Elite MasterCard
Annual Fee $150 $150
Value of Sign-Up Bonus $200 $400
Value of 1 Mile $0.01 $0.01
Annual Income Requirement $80K individual or $150K household $70K individual or $120K household
Interest Rate 19.99% 19.8%
Special Features Receive a Priority Pass Membership (value of US$207) Book travel through any provider

At first glance, these two credit cards are very similar. They have the same rewards structure and their travel miles have the same value ($0.01 per mile). The biggest difference is the BMO World Elite MasterCard offers an annual Priority Pass Membership, which is valued at over US$200. This feature makes the BMO World Elite MasterCard a strong card… but is it the best card? Let’s look at a detailed monthly spending profile to see which card comes out on top.

Monthly Spending Profile
$500 on groceries
$400 on travel
$2,200 on everything else
Total per month: $3,100
Total per year: $37,200

Now let’s look at the value of the rewards earned with both credit cards when we apply this monthly spending profile to each one.

BMO World Elite MasterCard

bmo-world-elite-mastercard

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  • Earn two points per dollar on all purchases
  • Limited time! Get a $200 travel credit
  • VIP Airport Lounge Access* with the included annual Priority Pass membership (valued at US$99), along with 4 complimentary passes per year (valued at US$27 each)

 

Annual Fee Sign-Up Bonus Spending Rewards Monthly Spending First Year Return Subsequent Years Return
$150 $300 2 miles for $1 spent on everything 2 miles x $3,100 = 6,200 miles per month

Value of 1 mile = $0.01

6,200 x 0.01 = $62/month

Sign-up: $200

Spending Rewards: $62 x 12 = $744

Priority Pass = $207

Annual Fee: $150

Total: 200+744+207-150 = $1,001

$744+207-$150= $801

If you look at the sign-up bonuses, the BMO World Elite card comes short by $200. But what puts this past the Capital One Aspire Travel World Elite is the US$207 Priority Pass Membership that comes with this card. Therefore if you find value in private airport lounges, then the $200 loss is definitely worth it.

Capital One Aspire Travel World Elite MasterCard

capital-one-aspire-travel-world-mastercard

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  • Earn two points per dollar
  • Receive 40,000 bonus miles ($400 value) when you spend $1,000 on purchases in the first three months
  • Redeem for travel, gift cards, or cash

 

Annual Fee Sign-Up Bonus Spending Rewards Monthly Spending First Year Return Subsequent Years Return
$150 $400 2 miles for $1 spent on everything 2 miles x $3,100 = 6,200 miles per month

Value of 1 mile = $0.01

6,200 x 0.01 = $62/month

Sign-up: $400

Spending Rewards: $62 x 12 = $744

Annual Fee: $150

Total: 400+744-150 = $994

$744-$150= $594

The $400 sign-up bonus more than offsets the $150 annual fee but that is not enough to come out on top. In the first year, the Capital One Aspire Travel World Elite has return equal to $994, which is a few dollars less than the BMO card’s return.

It’s important to remember that the comparison above is based off a very specific spending profile, and both of these are among the best credit cards in Canada today. To be sure that either of these cards is the one for you, fill out your spending profile on our website and see which card comes out on top.

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