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The value of Blue Rewards points comes down to an official equation: 1,500 points are worth $10. In other words, one Blue Rewards point is worth approximately 0.67¢, or two-thirds of a cent. This rate applies to in-store redemptions at partners and for e-gift cards.
However, this value only tells part of the story. Indeed, it varies depending on how you use your points. Here is our calculation, redemption method by redemption method, and the threshold at which the program stops being advantageous.
BMO applies a single fixed rate for in-store redemptions: 1,500 points for $10. This rate does not vary by partner or transaction amount.
This system replaces the AIR MILES dual-account system, which separated Cash Miles from Dream Miles. Now, a single balance is used for everything. Furthermore, this 0.67¢ rate corresponds exactly to that of BMO Rewards points.
Two paths are available to you, and they are not equal in value.
This is the highest-valued path, and above all, the only one with a guaranteed rate. You get 0.67¢ per point, without exception. Additionally, no minimum threshold applies. Redemptions are made at Blue Rewards partners.
The travel platform, powered by Expedia Group, provides access to flights, hotels, and car rentals. You can pay for all or part of the reservation with points, starting from the very first point earned.
Here, no fixed rate is published. The actual value therefore depends on the price displayed on the platform at the time of booking. This is precisely where you need to do the math yourself.
One concrete benefit is worth noting. You can now cover 100% of the cost of a plane ticket with your points, including taxes and fees. AIR MILES prohibited this, as taxes had to be paid in cash.
On the other hand, the platform excludes cruises. Similarly, fees paid directly to the establishment cannot be covered by points.
A daily limit of $750 applies, which is 112,500 points. It covers all combined in-store and e-gift card redemptions.
This constraint remains theoretical for most members. However, it matters if you plan to empty a large balance all at once, for example after converting a well-stocked AIR MILES account. In that case, spread your redemptions over several days.
The conversion was done at a rate of 1 AIR MILES mile for 16 Blue Rewards points, with no loss of value. One mile was therefore worth approximately 10.7¢ at the time of conversion.
The balance has therefore retained its monetary value. For full details on the transition, see our complete Blue Rewards guide.
BMO operates two programs in parallel, and they are now worth exactly the same: 0.67¢ per point. The second is linked to BMO Ascend and eclipse cards.
Be careful, however: the two balances do not communicate. You cannot transfer Blue Rewards points to BMO Rewards, or vice versa. This identical value does not make them interchangeable.
The two personal cards in the program feature different types of offers. Here is their estimated value for the first year.
The offer for the no-fee card is easy to read: 20,000 points, or $133 at the official rate. The World Elite®* offer combines several components, which explains a significantly higher estimated value despite the $150 annual fee.
To see how these offers stack up against the rest of the market, compare them on our best credit cards page.
At 0.67¢ per point, Blue Rewards sits in the lower average of Canadian programs. The program does not aim for optimization; it aims for simplicity. The rate is fixed, clear, and predictable.
This clarity is its true strength. You always know what your balance is worth, which was not the case with the AIR MILES dual system. On the other hand, do not look here for the high valuations made possible by transfers to airline programs.
Our threshold is simple: the program remains interesting as long as you redeem at 0.67¢ or more. As soon as a travel redemption brings you below this threshold, pay cash and keep your points. To follow the program’s evolution, subscribe to our newsletter.
Here are some frequently asked questions in the milesopedia community regarding the value of Blue Rewards points.
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