Which One’s Better: CIBC US Dollar Aventura Gold VISA Card Or BMO Air Miles World Elite Mastercard?

The CIBC US Dollar Aventura Gold Visa Card is the best rewards card for US purchases. It also offers you several travel rewards.  

The BMO Air Miles World Elite Mastercard offers MILES as you travel, shop, or buy merchandise or experiences.  

Let us study these credit cards individually and then do a comparative analysis.  

1. CIBC U.S. Dollar Aventura Gold Visa Card 

The CIBC US Dollar Aventura Gold Visa Card is a flexible travel credit card that rewards you as Aventura Travel Points. It allows you to make payments in USD. The best part is there is no need to pay any foreign transaction or currency conversion fees.  

Welcome Offer   

• As a part of the introductory offer, you can earn up to $135 in value.  
• Subject to fulfillment of conditions, you can earn up to 10,000 Aventura Points when you apply for this credit card.  
• You can earn an additional bonus of 7,500 Aventura Points after making the first purchase.  

To know more about it, refer to this link.  

Let us evaluate this credit card and make you aware of its various conditions and features.  

1. Eligibility 

	Eligibility Requirements
1.	You must be a resident of Canada.
2.	To qualify for this credit card, you must have a minimum annual household income of $15,000
3.	Be a major to get this credit card in your name. This age of majority may vary from province to province.
4.	Must have an “average to excellent” credit score, preferably more than 670

2. Annual Fee

• This credit card has a $35 annual fee. 
• For the first year, the bank waives this annual fee completely,  
• You can also get up to three additional credit cards at $0  

*You can get the annual rebate only when you have a premium CIBC personal credit card, and you are a holder of: 

• CIBC US$ Personal Account  

Or 

• CIBC Bank USA Smart Account 

3. Interest Rates 

Nature of Balance	Interest Rate
Purchases	20.99%
Cash advances	22.99%*

*For the residents of Quebec, the interest rate charged for “Cash Advances” is 21.99%. 

4. Earn Rate 

This credit card allows you to earn Aventura Travel Points when you make purchases using it: 

Eligible Purchases	Aventura Travel Points
Travel Purchases through CIBC Rewards Centre	1 point for every $1
On all the other purchases	1 point for every $2

* Note that 100 Aventura Travel Points are equivalent to CAD 1.00.  

5. Exclusive Benefit  

A benefit of using this credit card is that you are not required to pay any currency conversion fees while making purchases in USD. You can freely shop across the US at your favorite US retailers using USD.  

You also get Purchase Security Insurance with this credit card. It covers all your purchases made during the first 90 days.  

2. BMO Air Miles World Elite Mastercard 

The BMO Air Miles World Elite Mastercard received the best Air MILES credit card of 2022 award by creditcardGenius. It lets you earn AIR MILES rewards every time you use this credit card.  

Welcome Offer 

If you spend $3,000 in the first three months, you can earn 2,000 AIR MILES Bonus Miles. Want to know about all the related terms and conditions? Click on this link.  

Let us evaluate this credit card and make you aware of its various conditions and features.  

1. Eligibility 

	Eligibility Requirements
1.	You must be a resident of Canada.
2.	To get this credit card, you must satisfy the following minimum income conditions:  Personal Income: $80,000  Household Income: $150,000
3.	Be a major to get this credit card in your name. This age of majority may vary from province to province.
4.	Must have an excellent credit score, preferable 750+

2. Annual Fee 

• This credit card has a $120 annual fee. 
• Bank waives off the first year’s annual fee as a part of the introductory offer.  

3. Interest Rates 

Nature of Balance	Interest Rate
Purchases	20.99%
Cash advances	23.99%*

*For the residents of Quebec, the interest rate charged for Cash Advances is 21.99% 

4. Earn Rate 

This credit card allows you to earn MILES when you make eligible purchases: 

Eligible Purchases	MILES
On all your everyday purchases at participating AIR MILES Partners	3 MILES on every $12 spent
On purchases made through eligible grocery stores	2 MILES on every $12 spent
On all other purchases	1 MILE on every $12 spent

5. Exclusive Benefit 

Besides MILES, this credit card offers you a range of additional benefits: 

Benefits	Description
BMO AIR MILES World Elite Travel and Medical Protection	Emergency Medical Protection up to 15 days. Maximum limit $2MM Collision damage A waiver on rental cars
Lounge access	At a nominal fee of $32 per person Complimentary membership by Dragon Pass
Access to Wi-Fi Hotspots	You can enjoy free Wi-Fi at more than 1 million Wi-Fi hotspots provided by Boingo Wi-Fi
Concierge Service	24-hour access
Safety Features	Zero Liability Bank protects your online purchases via Mastercard Identity Check BMO Alerts

Comparative Analysis 

Let us compare some common conditions and features. 

Parameters	CIBC U.S. Dollar Aventura Gold Visa Card	BMO Air Miles World Elite Mastercard
Income Condition	Minimum Annual Household Income: $15,000	Individual Annual Income – $80,000 or   Household Annual Income – $150,000
Annual Fee	$35	$120
Interest Rate:  Purchases  Cash Advances	20.99%  22.99%	20.99%  23.99%
Credit Score	670+	750+

Out of the four parameters mentioned above, the CIBC U.S. Dollar Aventura Gold Visa Card scores higher in all of them. 

Opinion of ExpertbyArea.Money  

The CIBC US Dollar Aventura Gold Visa Card is an affordable credit card with lower income requirements, nominal annual fee, and not-so-strict credit score needs. It lets you earn rewards as well in Aventura Travel Points. However, there is nothing much for additional benefits. 

Consider BMO Air Miles World Elite Mastercard only for the additional benefits.  

Evaluate your requirements and perform an analysis. Choose the card that better serves your needs. 

 

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