UPDATE- special link might no longer work. See comments.
The Bank of Montreal has a limited time promotion for Grand Cru Supporters where you can get 3 years worth of annual fee waived on the BMO World Elite MasterCard. I would say limited very loosely because the promotional period is between March 19, 2014 and March 19, 2017.
- $150 annual fee (waived the first 3 years if you apply between March 19, 2014 and March 19, 2017, as well as a Grand Cru Supporter)
- No fee for supplementary cardholders
- Earn 40,000 sign up bonus points (only 30,000 on the regular BMO website)
- Earn 2 points for every $1 spent on all purchases
- VIP airport lounge access
- Concierge Service, with 24-hour access to travel, dining, leisure and entertainment recommendations
- Minimum $70,000 (individual) or $120,000 (household) income requirement
First of all, you need to be a Grand Cru supporter. You must apply for this credit card between March 19, 2014 and March 19, 2017 for the annual fee to be waived the first 3 years of having the credit card. Therefore, if you already have this credit card and applied within the time period, just give customer service a call to sort out how to qualify for the promotion.
Every 1 point is worth 1 cent. So you are essentially getting a 2% return on all purchases. These points work like the Capital One World Aspire Travel MasterCard where you can use these points to credit a travel related purchase.
As a cardholder, you will receive a standard Priority Pass membership worth $99 USD plus 4 free VIP lounge visits per membership year (worth $108 USD), which the cardholder can choose the accompanying guests. Not to be confused, basically there are 4 free Priority Pass lounge passes per year.
If you can sort out all the terms and conditions, this is definitely a great promotion to go for.
Personally I still prefer the Capital One World Aspire Travel MasterCard because for a credit card like this, I would prefer to retain the credit card as long as possible. So after the 3 years and the $150 kicks in, I do not find the credit card worth it any more. Though if you can make use of the VIP lounge passes, that can make up for the $150 annual fee. That being said, the $400 sign up bonus is definitely a great deal.