Here’s how to use BMO Rewards points step by step.
First, there are a few Bank of Montreal credit cards that earn BMO Rewards points:
The one used for this example is the BMO Ascend World Elite Mastercard®*.
The BMO Ascend World Elite Mastercard is one of the best World Elite Mastercard credit cards with travel points in Canada. With our exclusive offer, you can get up to 100,000 bonus points:
Plus, the annual fee is waived in the first year for both the primary cardholder and authorized users.
With the BMO Ascend World Elite Mastercard, a premium credit card from BMO, you get:
And 1 point for every $1 spent everywhere else, including at Costco. You can use BMO Rewards points for all travel purchases made through the agency or website of your choice (flights, hotels, car rentals, all-inclusive resorts, Airbnb, etc.) or for rewards and gift cards on the BMO Rewards platform.
The BMO Ascend World Elite Mastercard also offers:
BMO Rewards points are deposited into the BMO Rewards account 2 to 3 business days after the transaction. So they’re ready to use in no time!
Book your trip the way you want and pay for it with your BMO Rewards credit card. This can be directly from businesses categorized as travel purchases, such as :
You have from the moment you incur the travel cost until 90 days after purchase to apply your points to that cost. 150 BMO Rewards points equals one dollar. So you get a $100 credit on your credit card in exchange for 15,000 points.
Go directly to the BMO Rewards site and log in.
Or go to your Online Banking profile and choose your BMO Rewards card. Go to the Rewards tab.
Then click on Go to BMO Rewards.
Click on the Pay with points section.
On this page, you’ll find all transactions eligible for points redemption. Depending on their type, they have a different exchange of points:
We recommend using BMO Rewards points on travel expenses, as these require fewer points. Depending on your situation, or if you’re not traveling, exchange for other purchases can be very practical!
You can move the cursor to determine the number of points to apply to the exchange. When you are satisfied with the transaction, click on Redeem now.
A green BMO points redemption confirmation message will appear, certifying that the transaction has been successfully completed.
Then, the credit will magically appear in your card’s transactions within 3 to 5 business days.
Your BMO Rewards points can help with personal finances and investments! With the points you earn, you can invest in a :
Or go to your Online Banking profile and choose your BMO Rewards card. Go to the Invest tab.
For every 15,000 points redeemed, $100 will be invested in the eligible BMO account of your choice.
The minimum redeemable is 15,000 points. When you’re ready, click on Review to revise and confirm your choice.
In the Shop section, there are two categories:
Gift cards can be digital, physical or prepaid. There are many kinds of shops, in many categories, to suit your taste.
The number of BMO points required may vary, but in general, 23,000 BMO Rewards points are required for a $100 gift card.
Electronic gift cards are sent by e-mail within 12 hours. Physical and prepaid gift cards are sent by post within 4 weeks.
A multitude of items are available for purchase with points. A minimum of 80% in points is required. The balance must be paid with a BMO Rewards card.
It takes 4 weeks to receive the merchandise by post.
For example, we have calculated a few items, including taxes and delivery:
Depending on your situation and wishes, you have several options for redeeming your BMO points.
Here’s how many points it takes to get $100 in value with your BMO Rewards points for :
The value is greater and the need for points is less if BMO Rewards points are used to reimburse travel expenses.
BMO Rewards points are also very useful for pampering yourself with items, investing or giving gifts.
The cost of the purchase will be refunded to your credit card and you will keep the credit in your account. Points will not be returned.
As of August 2, 2022, it is no longer possible to make a reservation on the BMO Rewards site. BMO now allows you to purchase the trip yourself and then redeem the points as described above to reduce costs.
If you need help booking travel or special activities, your BMO credit card concierge service is there to help:
Between $0.0043 and $0.0067.
Depending on the type of exchange, points have a different value:
So here’s the value of a BMO Rewards Point:
The value is greater and the need for points is less if BMO Rewards points are used to reimburse travel expenses. It’s the best value!
Otherwise, there are other options such as :
Savings are here:
