New BMO Escape Credit Card
BMO has launched the new BMO Escape Credit Card with Mastercard. This card has an annual fee of $150 and features some travel benefits such as up to $240 in hotel statement credits annually, Priority Pass airport lounge membership with only two annual visits, and rebates on fees for Global Entry, TSA PreCheck® or NEXUS services. The card also has no foreign transaction fees.
New cardmembers can receive:
- 45,000 bonus points when you spend $5,000 within 3 months of opening your account.
The BMO Escape Credit Card offers accelerated points earning on top travel categories:
- 4x points per U.S. dollar spent on eligible dining and airfare, up to $3,000 in combined spend each calendar quarter.
- 3x points per dollar spent on eligible hotels, cruise lines, tours and travel agencies, up to $3,000 in combined spend each calendar quarter.
- 2x points per dollar spent on all eligible car rentals, taxi and rideshare purchases, up to $3,000 in combined spend each calendar quarter.
- Unlimited 1x points per dollar spent on all other eligible purchases.
Benefits include:
- 2 free PriorityPass lounge visits to any airport lounge in the PriorityPass network worldwide.
- Get reimbursed up to $100 every 4 years for your Global Entry, TSA PreCheck® or NEXUS applications
- $20 monthly statement credit when you use your card and spend $200 per month at hotels worldwide.
- No foreign transaction fees
To apply and view the complete list of benefits for the BMO Escape Credit Card, please click here.
Guru’s Wrap-up
This is a very weak product. You’re paying $150 for a Global Entry/TSA PreCheck/NEXUS credit and two visits to Priority Pass lounges. You also get up to $240 in hotel statement credits, but they’re broken down to $20 per month after you spend $200 or more.
There’s also a bonus of 45,000 points which I believe is worth $450 when redeemed for a statement credit or travel purchases.
