BMO Escape Card: 45K Points Bonus, Travel Perks, But Is It Worth It?

The new BMO Escape Mastercard offers a compelling welcome bonus of 45,000 points after spending $5,000 in the first three months. However, the card comes with a $150 annual fee. The card's earning structure provides accelerated rewards on travel spending: 4x points on dining and airfare (up to $3,000 per quarter), 3x on hotels, cruises, and travel agencies (up to $3,000 per quarter), and 2x on car rentals, taxis, and rideshares (up to $3,000 per quarter). All other purchases earn 1x point. Travel benefits include two complimentary Priority Pass lounge visits annually and reimbursement of up to $100 every four years for Global Entry, TSA PreCheck, or NEXUS applications. A unique feature is the $20 monthly statement credit for hotel spending exceeding $200. The card also has no foreign transaction fees. While the 45,000-point bonus is estimated to be worth $450, the overall value proposition is debated. The annual fee effectively reduces the value of the bonus and the other benefits, making the card's worthiness a matter of individual spending habits and travel frequency. The $240 annual hotel credit is also conditional, requiring $200 monthly hotel spending to receive the $20 credit. Consequently, the BMO Escape card's attractiveness hinges on maximizing its accelerated earning categories and leveraging the hotel credit and other travel benefits to offset the annual fee.

(Source: https://dannydealguru.com/new-bmo-escape-credit-card/)