News Releases
Effective immediately, Mosaik MasterCard cardholders with the WestJet 1/$15 AIR MILES Gold Reward Option can fly WestJet for 1,600 AIR MILES reward miles or less to the following U.S. destinations:
- New York (La Guardia)
- Ft. Lauderdale
- Orlando
- Tampa
- Los Angeles
- San Francisco
- San Diego (June - October)
- Palm Springs (October - May)
- Phoenix (October - May)
“The Mosaik MasterCard Gold Reward Option provides our cardholders with the best credit card reward program in the industry for flying in Canada and now to the U.S.,” said Mike Kitchen, vice president, BMO Mosaik MasterCard. “The ability to book flights to some of the most popular destinations in the U.S. for less than any other credit card travel rewards program on the market fills a gap in our program that will give our card a significant boost in appeal and use.”
Mosaik MasterCard, which is available through BMO Bank of Montreal, lets cardholders who have the Gold Reward Option redeem WestJet flights in Canada, and now to the U.S., for no more than 1,600 AIR MILES reward miles. This represents a credit card spend of $3,000 to $15,000 less than that required on competitive travel reward credit card programs for similar destinations (see table below).
Mr. Kitchen said the lower credit card spend levels will be a welcome surprise for travel rewards collectors. A recent Ipsos-Reid study on rewards programs found that 78 per cent of respondents thought that spending levels required to obtain rewards were too high.
“Our cardholders can spend less and fly more, compared to any other travel-oriented credit card in the Canadian marketplace,” added Mr. Kitchen.
While many credit cards offer rewards, Mosaik MasterCard with the Gold Reward Option gets cardholders on that plane sooner by allowing them to accumulate AIR MILES reward miles faster and fly for less. A multi-sponsor program such as the AIR MILES Reward Program lets cardholders earn rewards from purchases at multiple retail locations, in addition to what they earn from using their credit card, essentially allowing consumers to “double dip” or earn rewards twice on the same purchase.
Here’s an apples-to-apples comparison of some of the most popular travel-oriented credit cards available today (the amounts may vary depending on the time of year, market value of flights and special promotions).
Comparison of Travel-Oriented Credit Cards*
April 2005
|
BMO Mosaik MasterCard with WestJet 1/$15 AIR MILES Gold Reward Option |
CIBC Aerogold Visa |
Royal Bank Platinum Avion Visa |
TD Gold Travel Visa |
|
Annual Card Fee |
$70 $15/additional card |
$120 $50/additional card |
$120 $50/additional card |
$99 $39/additional card |
|
Flights outside of Canada? |
YES |
YES |
YES |
YES |
|
Banking Plan discount with card? |
YES |
NO |
NO |
NO |
|
Low interest rate option? |
YES |
NO |
NO |
NO |
|
Current interest rate** |
No Fee Option – 18.4% Low Rate Option – 12.9% on purchases/7.9% on cash advances ($15 annual fee) |
19.5% |
19.5% |
18.5% |
|
Companion ticket/flight benefit |
YES |
YES |
NO |
NO |
|
Ability to customize card? |
YES |
NO |
NO |
NO |
|
Dollar amount spent on the credit card to earn enough rewards for the following flights |
||||
|
Halifax to Vancouver |
$21,000 - $24,000 |
$25,000 - $37,500 |
$30,000 |
$ 26,666 |
|
Toronto to Vancouver |
$21,000 - $24,000 |
$25,000 - $37,500 |
$30,000 |
$ 33,333 |
|
Toronto to Calgary |
$21,000 - $24,000 |
$25,000 - $37,500 |
$30,000 |
$ 33,333 |
|
Toronto to Montreal |
$12,000 - $13,500 |
$15,000 - $22,500 |
$15,000 |
$20,000 |
|
Calgary to Orlando, FL |
$21,000 - $24,000 |
$25,000 - $37,500 |
$30,000 |
$39,000 |
|
Toronto to San Francisco, CA |
$21,000 - $24,000 |
$25,000 - $37,500 |
$30,000 |
$35,000 |
*Disclaimer: This chart is meant to highlight features and approximate card spends based on publicly available information. Not all features are compared and dollar spend can vary based on the season and current market value of flights. BMO Mosaik MasterCard and their partners do not ensure the accuracy of details for cards other than BMO Mosaik MasterCard.
**As at April 11, 2005
About BMO Mosaik MasterCard
BMO Mosaik MasterCard allows customers to build their own customized cards by choosing and paying for only the rewards, features and interest rate plan they want. Customers can also re-build their cards by changing the features as their needs change without having to replace the card or apply for a new one. BMO introduced its newest option, the Mosaik MasterCard WestJet 1/$15 AIR MILES Gold Reward Option in May 2004.
Unlike other credit cards that offer a limited selection of pre-bundled options, Mosaik MasterCard lets cardholders choose from a variety of individual features such as the AIR MILES Reward Program or a CashBack Reward Program, Travel Protection, Travel Medical, Concierge Service and either a No Fee or Low Interest Rate Plan.
Mosaik MasterCard is accepted at more than 30 million locations worldwide. The Mosaik MasterCard website is www.bmo.com/mosaik.
About WestJet
WestJet is Canada's leading low-fare airline offering scheduled service throughout its 33-city North American network. Voted Canada's most respected corporation for customer service in 2005, WestJet pioneered low-fare high-value flying in Canada. With increased legroom, leather seats and live seatback television on its new fleet of Next-Generation Boeing 737-700 aircraft, WestJet strives to be the number one choice for travelers.
About the AIR MILES® Reward Program
Created by The Loyalty Group in 1992, the AIR MILES® Reward Program is Canada's premier coalition loyalty program, with more than 15.4 million Canadians – representing more than 72 per cent of Canadian households – actively collecting AIR MILES reward miles. The AIR MILES Reward Program's website is www.airmiles.ca.
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