Advertiser disclosure
Advertisers are not responsible for the content of this site, including any editorial or review that may be published on it. For complete and up-to-date information about any product featured, please visit their website. We maintain business relationships with certain partners mentioned in our communication tools. While we may receive compensation if you sign up for a product or service through our affiliate links, our reviews and content are based on an objective assessment. Value estimates are established by Milesopedia and are not provided, endorsed, or verified by the issuing financial institutions. †*Terms and conditions apply.
The Bank of Montreal (BMO) offers 5 credit cards within the BMO Rewards program.
Both BMO Mastercard credit cards are accepted for all your purchases at Costco: you can therefore earn BMO Rewards points!
Le gros avantage des points BMO Récompenses: aucune date d’interdiction & aucune restriction.
Vous pouvez donc vous-même réserver vos voyages via vos points BMO Récompenses.
Unlike a loyalty program such as Aeroplan or AIR MILES, you are not limited to restricted seat availability on a flight or room quotas.
BMO Rewards points can be used for different types of travel booked with your BMO credit card through the travel agency or website of your choice:
To use your BMO Rewards points, you will need to go to the BMO Rewards platform.
In all these cases, the value of your BMO Rewards points will be 15,000 points = $100 (or 0.67¢/point). And this is the highest value you can get from them!
If you can’t find what you’re looking for on the online portal, you can call BMO Rewards.
But you can also take advantage of the price guarantee!
Several rules are governing this price guarantee. BMO will match the price for most Canadian travel providers:
After travel, the second-best BMO Rewards points redemption is through a BMO investment account. Not yet a BMO banking customer? Get a welcome offer with one of these BMO Banking Packages.
Here, 15,000 points = $100 (or 0.67¢/point).
However, we strongly advise against using your points as a statement credit: the rate is far from advantageous: 15,000 points = $50 (or 0.33¢/point).
Another option for using BMO Rewards points is for purchasing gift cards.
Here, BMO Rewards points value is variable:
On average, here 10,000 points = $54 (or $0.54/point).
Like any loyalty program, BMO Rewards has its merchandise store.
But, as we say in travel hacking:
… here we compared a product, the Breville “Smart Oven Air” sold for 90,000 BMO Rewards points.
This same oven costs $599 + taxes on Best Buy / Amazon, or $688.70 in Quebec. This makes a valuation of 10,000 points = $76.52 (or 0.765 ¢).
Surprisingly, you find more value in buying this item than through travel! The exception confirming the rule?
After several valuation attempts, we found that the value varies greatly from one product to another (between 0.30¢ and 0.80¢!).
It will be up to you to test for your desired products!
Finally, you can use your BMO Rewards points for experiences!
This option applies to only a few cities in Canada. When writing this post, the only one in Quebec is in Mont-Tremblant.
64,500 BMO Rewards points for a getaway for two at Le Grand Lodge Mont-Tremblant resort:
Compared to rates found on the web, this values 10,000 points = $62 (or 0.62¢/point).
In summary, here is a table of your different options:
As you can see, the valuation of your BMO Rewards points can vary greatly.
One thing’s for sure: don’t use them for Statement credit – it’s the worst possible use!
If you don’t travel, you may prefer to put these points in an investment account, or exchange them for experiences or even merchandise/gift cards!
Savings this way:
You can change your preferences or opt out at any time by clicking on one of the hyperlinks available at the bottom of each newsletter.
If you are already a subscriber and would like to unsubscribe, you can click on the link at the bottom of any of our e-mails.
