BMO World Elite Mastercard Update -- Effective Jan 15, 2018:
- earn 3 BMO Reards points per $1 spend on Travel, Dining, and Entertainment purchase up to $50K per year
- instead of 100 points per $1, it will now be 140 points per $1 (BMO will add extra points to your account to ensure your total points value after Jan 15 will be the same)
- gift card redemption up to 20% fewer points
- 25% few points for BMO investment
and staring Feb 2018, you can reduce your points toward your statement balance.
That's a 40% devaluation...gift cards are inflated anyway even with 20% reduction I wouldn't spent anyway my points on them.For myself most of purchases are on groceries and these are still getting 2 points/dollar the return rate decrease to 1.42% vs 2% as now while only the travel,dining and entertainment are getting 3 points for a 2.14 % return rate.Not sure anymore if with this devaluation is worth to pay the 150/year fee.You need to spend over 10k just to offset the yearly fee
They still gave the 4 Priority pass and their rental car insurance is good but I guess it is time for me to cancel this card.