Use your Debit Card for airmiles
Have you seen the new Bank of Montreal (BMO) commercials on TV? The ones where it shows that you can use your debit card to collect airmiles?
From the Airmiles website....
If shopping, saving, borrowing and banking is part of your everyday banking routine, you'll find that BMO Bank of Montreal is the perfect bank for you. BMO Bank of Montreal is proud to be the only bank in Canada where you can collect valuable
AIR MILES reward miles on a full range of banking products and services. Start turning your everyday banking intoAIR MILES reward miles! For more information, simply visit any BMO Bank of Montreal branch or visit bmo.com/airmiles.
You'll earn 1 airmile for every $40 you spend with your debit card. I guess the real advantage to all of this is the fact that you won't be carrying a balance as you would with credit cards. (Although, you should be carrying a balance as the interest is WAYYYY too high).
How can I take advantage of this?
You can start taking advantage of more reward miles just by opening up a new chequing account with
BMO Bank of Montreal . You can even transfer any existing accounts you have easily and for free using our PowerSwitchTM†service.
What's the catch?
There doesn't seem to be a catch. BMO is trying to establish themselves as the only bank to have airmiles through a debit card. I'm guessing they figure this will help increase the number of customers who bank with BMO.
It's definitely worth considering if you don't have a Visa or American Express credit card right now. However, if you do have a credit card and use it for all of your purchases then this might not be the best option for you. I'm a fan of the
- Mosaik Gold Airmiles Mastercard
- American Express No fee Credit Card
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