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The first concrete information about BMO Blue Rewards credit cards is starting to circulate in our private Milesopedia Facebook group, as well as on various discussion forums (including our partner, RedFlagDeals).
BMO has sent emails to its AIR MILES credit card holders with the accumulation rates and certain benefits of the future cards. Four cards make up the range: a no-annual-fee credit card, a World Elite Mastercard, and two Business versions.
We have gathered all available data to provide a complete overview of the new range. Here is our analysis, card by card, with yields compared to those of the current AIR MILES Mastercards.
Before comparing anything, we must first understand the value of each point.
With AIR MILES, one mile is worth approximately 10.5 cents (95 miles = $10). A Blue Rewards point is worth approximately 0.67 cents (1,500 points = $10).
The raw numbers therefore appear very different: 10 Blue Rewards points per dollar seems generous, but each point is worth much less than an AIR MILES mile. This is why you should always think in terms of yield (the dollar value obtained per dollar spent) rather than the number of points.
BMO is offering four cards in its new range. Here are the known accumulation rates for each, followed by their actual yield compared to the AIR MILES versions they will replace.
The entry-level card, with no annual fee. It replaces the BMO AIR MILES Mastercard (which accumulated in $25 increments).
The yield at partners increases from 1.26% to 3.33% — nearly triple. On the other hand, everyday purchases (groceries, base rate) earn slightly less. The notable exception: gas and electric vehicle charging increase from 0.42% to 0.67%, as this category did not benefit from the accelerated rate on the no-fee AIR MILES card.
The premium card. It replaces the BMO AIR MILES World Elite Mastercard (accumulation in $12 increments).
At partners, the yield jumps from 2.63% to 6.70% — making it one of the highest rates on the Canadian market. Gas and electric vehicle charging also gain ground (from 0.875% to 1.34%). In contrast, groceries drop from 1.75% to 1.34%, and the base rate goes from 0.875% to 0.67%.
The premium Business version. Accelerated categories (groceries, gas, etc.) are not yet confirmed for this card.
This is the card with the highest yield at partners: 8.38%. The base rate also doubles, from 0.42% to 0.84%. It remains to be seen if accelerated categories (groceries, gas) will be added.
The Business version without World Elite status. Accelerated categories are not confirmed either.
The same observation applies as for the Business World Elite: the yield at partners explodes (from 1.26% to 6.70%), and the base rate improves slightly (from 0.42% to 0.67%).
All credit cards in the range follow the same pattern: the yield at Blue Rewards partners increases significantly, while non-partner purchases decline in most categories. Here is the summary.
The yield of 6.7% (and more) at partners is the spearhead of Blue Rewards. However, this rate only applies to participating locations.
For now, the list of 10x partners remains incomplete. BMO has published a dedicated page with the first names, but the network will need to expand for this benefit to truly matter in Canadians’ wallets.
Note: points accumulated with the credit card are added to those obtained by presenting the Blue Rewards loyalty card in-store. The combination of both can therefore exceed the yield shown on the credit card alone.
Beyond accumulation rates, BMO is also modifying certain benefits associated with the World Elite card.
The answer depends on your habits. Here are some typical profiles.
You often shop at Blue Rewards partners (and the list of partners is quite long): the transition clearly benefits you. The yield is 2 to 5 times higher, depending on the card.
The bulk of your spending goes toward groceries and everyday purchases: you will lose a bit of yield. The decrease is moderate (around 0.2% to 0.4% depending on the card), but it is real.
You spend a lot on gas or electric vehicle charging: the new accelerated category on the World Elite (2 pts/$) improves the yield from 0.875% to 1.34%. A welcome gain, especially after the loss of Shell as a partner.
You use a Business card: base rates improve (0.42% → 0.67-0.84%), and the yield at partners jumps. It remains to be seen which accelerated categories will be confirmed.
Check our best credit cards page to see how Blue Rewards cards rank against other options in Canada. And to ensure you don’t miss any future announcements, sign up for our newsletter.
Finally, if you are looking for a new Mastercard World Elite type credit card, take advantage of our exclusive offer with BMO for the BMO Ascend World Elite Mastercard: up to 115,000 BMO Rewards points and no fee for the first year.
Sources: Milesopedia Facebook Group, BMO Blue Rewards 10x, RedFlagDeals (thread 1), RedFlagDeals (thread 2), Rewards Canada
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