Up to 70,000 Points + First-Year Free + 0% FX-Fee
BMO Bank Accounts

BMO: Changes For BMO Rewards in May 2021

To the point

BMO announced significant changes to the BMO Rewards program and related credit cards effective May 2021.

An increase in the number of BMO Rewards points required for travel

Effective May 5, 2021, there will be an increase in the number of points required to book travel with BMO Rewards: 150 BMO Rewards points instead of 140 points for a $1 value.

Travel Before May 5, 2021 After May 5, 2021
$100 14,000 points 15,000 points

This is called a devaluation. As of May 5, 2021, the value of 1 BMO point will be reduced from 0.71 cents to 0.67 cents.

Mathematically, this affects the earning value of the five BMO Rewards credit cards, as we will see below.

Note that other methods of using points remain unchanged, so it will be just as rewarding to use your BMO Rewards points for travel as it is to redeem points for financial products with BMO (15,000 points = $100).

The least attractive option is to pay for any purchase with your points (15,000 points = $75).

Bmo Visa Mastercard

Compensation for Existing BMO Rewards Customers

To offset the value of BMO Rewards points for existing customers, on May 5, 2021, BMO will increase your existing BMO Rewards points balance by 7%.

For example, if you had earned 28,000 BMO Rewards points (a $200 value) with your new BMO eclipse Visa Infinite* Card or your BMO World Elite®* Mastercard®*, BMO will add 1,960 points to your BMO Rewards account on May 5, 2021. You’ll have a balance of 29,960 BMO Rewards points, which will still be worth $200.

So, I would strongly suggest that you unlock your Welcome Bonus or earn a maximum of BMO Rewards points BEFORE May 5, 2021, to benefit from this 7% increase in your BMO Rewards points balance.

As a recent BMO eclipse Visa Infinite* cardholder myself, that’s exactly what I plan to do. For example, I just got my welcome bonus by charging my Card for all my purchases (I usually use my American Express Cobalt™ Card for Good Food).

And I’ll try to earn as many points as I can before May 5, 2021:

Transactions Bmo Eclipse Prime Fr

BMO Rewards point earning value after May 5, 2021

On May 5, 2021, the five BMO Rewards credit cards’ earning rates won’t change. But the earning value will be decreased if you intended to use your points for travel.

Here’s how it affects each of the five BMO Rewards credit cards. And I’ll suggest alternative credit cards for the most common credit cards.

Bmo Rewards World Elite Mastercard Rgb Fre For Online

BMO® World Elite®* Mastercard®*

Depending on the purchases you charge to your BMO World Elite®* Mastercard®*, you’ll earn between 1.33% to 2% when you use your BMO Rewards points for travel:

Category Before May 5, 2021 After May 5, 2021
Travel, Dining, Entertainment 3 points 3 points
Return 2,14 % 2 %
Other 2 points 2 points
Return 1,43 % 1,33 %

There are many alternatives for travel credit cards:

card Bmo Eclipse Visa Infinite 1

BMO eclipse Visa Infinite* Card

Depending on the purchases you charge to your BMO eclipse Visa Infinite* Card, you’ll earn between 0.67% to 3.33% when you use your BMO Rewards points for travel:

Category Before May 5, 2021 After May 5, 2021
Grocery, Dining, gas, transportation 5 points 5 points
Return 3,57 % 3,33 %
Other 1 point 1 point
Return 0,71 % 0,67 %

There are many alternatives for travel credit cards, requiring less than $80,000 of personal income:

  • With the American Express Cobalt™ Card, you earn 5 points per dollar for grocery, dining, food delivery (that’s 5% in travel rewards), 2 points per dollar for transportation, gas and travel (that’s 2% in travel rewards) and 1 point per dollar everywhere else (that’s 1% in travel rewards). No minimum income required.
  • With the Scotiabank Passport™ Visa Infinite* Card, you earn 2 points per dollar for groceries, entertainment, dining and local transportation (that’s 2% in travel rewards), you don’t pay FX fees and you get 6 annual passes to VIP airport lounges. Personal income of $60,000 required (identical to BMO’s card )
  • With the Scotiabank Gold American Express® Card, you earn 5 points per dollar for entertainment, groceries and dining (that’s 5% in travel rewards), and you don’t pay FX fees. Personal income of $12,000 required.
Bmo Business Rewards Rgb Fre For Online

BMO Rewards® Business Mastercard®*

Depending on the purchases you charge to your BMO Rewards® Business Mastercard®*, you’ll earn between 1% to 2% when you use your BMO Rewards points for travel:

Category Before May 5, 2021 After May 5, 2021
Gas, office supplies, cell phone and internet recurring payments 3 points 3 points
Return 2,14 % 2 %
Other 1.5 points 1.5 points
Return 1,07 % 1 %

Here is an excellent alternative for a small business credit card with similar purchase categories:

  • With the American Express Business Edge™ Card, you earn 3 points per dollar for office supplies and electronics, transportation and gas, food and beverages (that’s 3% in travel rewards) and 1 point per dollar everywhere else (that’s 1% in travel rewards).
card Bmo Eclipse Visa Infinite Privilege 1

BMO eclipse Visa Infinite Privilege* Card

Depending on the purchases you charge to your BMO eclipse Visa Infinite Privilege* Card, you’ll earn between 0.67% to 3.33% when you use your BMO Rewards points for travel:

Category Before May 5, 2021 After May 5, 2021
Grocery, dining, pharmacy, gas, travel 5 points 5 points
Return 3,57 % 3,33 %
Other 1 point 1 point
Return 0,71 % 0,67 %
Bmo Rewards Mastercard Rgb Fre For Online

BMO® Rewards® Mastercard®*

Depending on the purchases you charge to your BMO Rewards® Mastercard®*, you’ll earn 0.67% when you use your BMO Rewards points for travel:

Category Before May 5, 2021 After May 5, 2021
Other 1 point 1 point
Return 0,71 % 0,67 %

Thinking about applying for a BMO Rewards credit card?

Strategically, today is still a good time to apply for one of the BMO Rewards credit cards.

Indeed, if you unlock your Welcome Bonus before May 5, 2021, your points will keep their current valuation, even if you use them after May 5, 2021.

For example, if you spend $3,000 on your new BMO eclipse Visa Infinite* Card, you will earn the first part of the Welcome Bonus: 25,000 points. As of May 5, 2021, BMO will add 7% to your BMO Rewards account (or 1,750 points).

Your points will keep their value of $178 for travel rewards.

If you spend $3,000 on your new BMO World Elite®* Mastercard®*, you’ll receive the first part of the Welcome Bonus: 30,000 points. As of May 5, 2021, BMO will add 7% to your BMO Rewards account (or 2,100 points).

Your points will keep their $214 value for travel rewards.

Finally, if you’re self-employed or a small business owner, if you spend $5,000 with your new BMO Rewards® Business Mastercard®*, you’ll earn 50,000 BMO Rewards points. As of May 5, 2021, BMO will add 7% to your BMO Rewards account (or 3,500 points).

Your points will keep their value of $357 for travel rewards.

Conclusion

Suggested Reading