Guide: How to Use BMO Rewards Points to Maximize Their Value
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 offer BMO Rewards points:
- BMO Ascend™ World Elite®* Mastercard®*
- BMO eclipse Visa Infinite* Card
- BMO eclipse Visa Infinite Privilege* Card
- BMO Ascend World Elite Business Mastercard
The one used for this example is the BMO eclipse Visa Infinite* Card.
| Credit card | Annual fee | Welcome offer | |
|---|---|---|---|
| $0 | |||
| $599 | |||
| $0 |
Redeeming BMO Rewards Points for Travel with a BMO Credit Card
Pay with Points Option
Book your trip however you like and pay for your purchase with your BMO Rewards credit card. This can be directly with merchants 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 in credit on your credit card. So you get a $100 credit on your credit card in exchange for 15,000 points.
How the BMO Pay with Points Option Works
Go directly to the BMO Rewards website and log in to your account.
Alternatively, go to your online banking profile and select your BMO Rewards credit card. Go to the Rewards tab.
Then, click on Access BMO Rewards.
Click on the Pay with points section.
On this page, you will 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 in statement credit for 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 travelling, redeeming points for other purchases can be convenient!
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.
| Credit card | Annual fee | Welcome offer | |
|---|---|---|---|
| $0 |
Investing with BMO Reward Points
Your BMO Rewards points can help with personal finance and investments! With the points you’ve accumulated, you can invest in a:
- BMO Savings Account with Advantageous Rate (RRSP or open/non-registered account)
- BMO Smart Saver Account
- BMO Investorline (RRSP, RESP and open/non-registered accounts)
How the BMO Invest with Points Option Works
Go directly to the BMO Rewards website and log in to your account.
Alternatively, go to your online banking profile and select your BMO Rewards credit card. Go to the Invest tab.
For every 15,000 points redeemed, $100 will be invested into 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.
| Credit card | Annual fee | Welcome offer | |
|---|---|---|---|
| $599 |
Redeem BMO Rewards Points for Gift Cards and Merchandise
In the Shop section, there are two categories:
- Gift cards
- Merchandise (Kids and toys, Home goods, Fashion and travel, Computers, phones, office supplies, and more)
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, you’ll need 23,000 BMO Rewards points for a $100 gift card.
Electronic gift cards are sent by email within 12 hours.
Physical and prepaid gift cards are mailed 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 rest must be paid with a BMO Rewards card.
The delivery time for merchandise by mail is 4 weeks.
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 |
| Apple iPhone 17 256GB in black | 292 500 | $1471 | 19,884 points |
Value of BMO Rewards Points
Depending on your needs and preferences, 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
- A credit on any other transaction: 20,000 points
- Merchandise (number of points may vary) : Approx. 20,000 points
- A gift card (number of points may vary): Approximately 23,000 points
You need fewer points to redeem for travel expenses, which is the best value for your BMO Rewards points!
BMO Rewards points can be very useful for treating yourself to items, investing, or giving gifts.
- Annual fee
- $0 $150No annual fee the first year
- Our valuation
- $820Milesopedia first-year estimate First-year valueWelcome bonus$670Annual fee rebated$150Total$820Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
- Welcome offer
- Up to 100,000 points
No annual fee the first year
Milesopedia first-year estimateFirst-year valueWelcome bonus$670Annual fee rebated$150Total$820Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
+ First Year Annual Fee Rebate
on BMO's website
Can I transfer my BMO Rewards points from my World Elite Mastercard to Aeroplan points?
No. BMO Rewards points must be used within this program only. But you can pay for your flight yourself and use BMO Rewards points to reimburse it after.
Can I book my trip directly on the BMO Rewards website?
Since August 2, 2022, it is no longer possible to make a booking on the BMO Rewards website. 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
What is the Value of 1 BMO Rewards Point? How much is 1 BMO Point Worth?
Between $0.0043 and $0.0067, so one BMO Rewards point is worth 2/3 of a cent or less.
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
How much are 80,000 BMO Rewards Points Worth?
One BMO point is worth a maximum of $0.0067, so 80,000 BMO Rewards points are worth $536 (80,000 x $0.0067). Check the value of your BMO points on our BMO Rewards program page by entering the number of points to automatically calculate their value.
Where to Find a BMO Rewards Points Calculator?
Check the value of your BMO points on our BMO Rewards program page by entering the number of points to automatically calculate their value.
Our featured card
- Annual fee
- $0 $150No annual fee the first year
- Our valuation
- $820Milesopedia first-year estimate First-year valueWelcome bonus$670Annual fee rebated$150Total$820Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
- Welcome offer
- Up to 100,000 points
No annual fee the first year
Milesopedia first-year estimateFirst-year valueWelcome bonus$670Annual fee rebated$150Total$820Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
+ First Year Annual Fee Rebate
on BMO's website
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