To the point
Bank of Montreal offers the BMO Rewards program. Earn BMO Rewards points with every purchase you make every day, then use them to travel, shop or invest.
How to use BMO Reward Points
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:
- BMO Ascend World Elite Mastercard
- BMO eclipse Visa Infinite* Card
- BMO eclipse Visa Infinite Privilege* Card
- BMO World Elite Business Mastercard
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:
- 55,000 points after $4,500 in Card purchases in the first 3 months
- 3,750 points per month after $2,500 in monthly purchases from the 4th to the 15th month (up to 45,000 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:
- 5 points per dollar on travel purchases
- 3 points per dollar on dining purchases
- 3 points per dollar for entertainment purchases
- 3 points per dollar on recurring bill payments
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:
- Four annual complimentary passes to airport VIP lounges
- Excellent Premium insurance for your travels or purchases
- a premium concierge service
Redeem BMO travel rewards points with a BMO card
Pay with points option
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 :
- An airline, railway or hotel;
- Car rental company;
- A travel agency offering vacation packages, Disney packages, cruise packages or guided tours, etc. ;
- A cruise line.
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.
How the Pay with BMO Reward Points Option works
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:
- 150 points for $1 travel credit ;
- 200 points for $1 credit on all other purchases.
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.
Investing with BMO Reward Points
Your BMO Rewards points can help with personal finances and investments! With the points you earn, you can invest in a :
- BMO Premium Rate Savings Account (RRSP or Open/Non-Registered Account)
- BMO Smart Saver Account
- BMO Investorline (RRSP, RESP and open/non-registered accounts)
How BMO Rewards Invest option works
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 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.
Redeem BMO Rewards points for gift cards and merchandise
In the Shop section, there are two categories:
- Gift cards
- Merchandise (Children and toys, Household goods, Fashion and travel, Computers, telephones and office supplies, etc.)
Gift cards with BMO points
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.
Merchandise with BMO points
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:
| Article | Points required | In-store value | Value per $100 |
| Breville The Toast Select Luxe toaster Sea Salt color | 46 000 | 230 $ | 20,000 points |
| 256 GB Apple iPhone 15 in black | 292 500 | 1 471 $ | 19,884 points |
Summary
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 :
- Travel credit: 15,000 points
- Credit on all other transactions: 20,000 points
- Merchandise (number of points may vary) : Approx. 20,000 points
- A gift card (number of points may vary) : Approx. 23,000 points
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.
What happens if I cancel my reservation or get a refund on an expense where points were applied?
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.
Can I book my trip directly on the BMO Rewards website?
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:
- BMO Ascend World Elite Mastercard: 1-800-741-6758
- BMO eclipse Visa Infinite* Card: 1-888-853-4458
- BMO eclipse Visa Infinite Privilege* Card: 1-855-822-1240
How much is 1 BMO reward point worth?
Between $0.0043 and $0.0067.
Depending on the type of exchange, points have a different value:
- 150 points for $1 credit on travel expenses ;
- 200 points for $1 credit on all other purchases.
So here’s the value of a BMO Rewards Point:
- $ 0.0067 for 1 BMO point if redeemed for travel credit
- $ 0.0050 for 1 BMO point if redeemed for credit on all other purchases
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 :
- $ 0.0050 for 1 BMO point if redeemed for merchandise
- $ 0.0043 for 1 BMO point if redeemed for a gift card
Come to discuss that topic in our Facebook Group!
