Amazing Offer: Get up to 130,000 points ($650) with this Card!

BMO Rewards loyalty program

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BMO Rewards Bank of Montreal’s (BMO) loyalty program.

With that program, you can earn “BMO Rewards Points.”

You can redeem BMO Rewards points for travel, products or gift cards through the BMO Rewards website.

BMO Rewards points cannot be transferred to another program.

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Current Value of BMO Rewards Points

Point Value Calculator

Enter the number points you have.

It's an estimated value of $ 350

Earn BMO Rewards Points

You can earn BMO Rewards points with three credit cards.

Each of them has its own specificities: usually, the first card to get is the BMO® World Elite®* Mastercard®*.

BMO® World Elite®* Mastercard®*

The BMO® World Elite®* Mastercard®* is one of the best Mastercard credit cards with travel points in Canada.

You can get a welcome bonus of 40,000 points (285$ travel value):

  • 30,000 points after you spend a minimum of $3,000 within the first 3 months
  • an additional 10,000 BMO Rewards points anniversary bonus, 12 months after the Credit Card account open date

In addition, the $150 annual fee is waived in the first year!

With the BMO® World Elite®* Mastercard®*, you get 3 points for every dollar spent on:

  • travel
  • dining
  • entertainment

And 2 points for every dollar you spend, Costco included!

You can redeem your BMO Rewards points on travel booked on the BMO Rewards website (flights, hotels, rental cars, all-inclusive).

The BMO® World Elite®* Mastercard®* also offers:

  • 4 complimentary passes to airport VIP lounges
  • Premium insurance for your travels or purchases
  • Concierge services

Finally, you can combine the points you get with the two other BMO Rewards cards to save even more on your travels!

BMO® Rewards® Mastercard®*

The BMO® Rewards® Mastercard®* is one of the best no-annual-fee credit cards in Canada.

For a limited time, you can get a welcome bonus of 15,000 points.

It’s a great way to get more BMO Rewards points!

BMO Rewards® Business Mastercard®*

The BMO Rewards® Business Mastercard®* is one of the best Business Mastercard credit cards with travel points in Canada.

You can get a welcome bonus of 50,000 points after $5,000 in card purchases ($350 travel value). In addition, the $120 annual fee is waived in the first year!

With the BMO Rewards® Business Mastercard®*,you get 3 points for every dollar you spend on:

  • gas
  • office supplies
  • cell phone/internet payments

And 1.5 points for every dollar you spend, Costco included!

You can redeem your BMO Rewards points on travel booked on the BMO Rewards website (flights, hotels, rental cars, all-inclusive).

Finally, you can combine the points you get with the two other BMO Rewards cards to save even more on your travels!

Great cards for Costco!

As they are Mastercard credit cards, you can use them at Costco: you will earn between 1 and 2 BMO Rewards points depending on the card you’ll use!

costco logo

Now that you know how to earn BMO Rewards points, learn how to use them.

How to redeem BMO Rewards Points

Redeem your BMO Rewards Points for travel

The most significant advantage of BMO Rewards points: there are no blackout periods.

You can redeem your BMO Rewards points anytime.

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Muraille de Chine

Unlike a loyalty program like Aeroplan or AIR MILES, you can redeem anytime for flights, hotels, cruises and vacation packages.

You can redeem BMO Rewards points for different types of trips:

  • airfare
  • Hotels
  • Car rentals
  • Cruises
  • Vacation packages

To redeem your BMO Rewards points, you’ll need to use the BMO Rewards website.

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BMO Rewards Travel portal

Prices are the same as other travel agencies. You can even check prices for yourself: you don’t need a BMO Rewards account to search for a trip.

And if the flight you see elsewhere isn’t on the site, you can call BMO Rewards team and ask to book that specific flight!

Here are some examples of BMO Rewards points redemptions:

Travel type BMO Rewards points Value
One hotel night in Fort Lauderdale (before a cruise) 18 575 $132.68
Three hotel nights in Orlando 38 252 $273.23
5-days car rental in Orlando 48 569 $346.92
One roundtrip flight from Montreal to Orlando with Air Canada 65 020 $464.44

In all of these cases, 14,000 BMO Rewards points are worth $100 (or $0.0071/point). And that’s the highest value you can get out of it!

Thus, the 35,000 BMO Rewards points earned as a welcome bonus with the BMO® World Elite®* Mastercard®* has a $250 value.

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Voiture de location

In our opinion, Car rentals are the best BMO Rewards points redemption:

  • you can use your BMO points at their full value
  • you can benefit from the collision damage coverage provided by the BMO® World Elite®* Mastercard®*, so you don’t need to pay the one from the rental company (you will save about $25/ day).

And you don’t need to have a full balance of points to book: you can make a mix of cash and points!

bmo recompenses voiture

Here, in my BMO Rewards points account, I only have 1,010 points left.

To simplify the visual, I decided to apply 1,000 points and pay the $339.78 difference with my card.

I saved $7.14 with my 1,000 points, which is the maximum value for BMO Rewards points (14,000 points = $100).

If you decide to cancel your car rental, BMO will make a statement credit on your credit card account (rather than a BMO Rewards points credit). An excellent way to redeem your BMO points for cash!

BMO Rewards Price Guarantee

You can call BMO Rewards if you can’t find what you want on the online portal.

But it is also possible to claim a price match guarantee!

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BMO Rewards price match guarantee

Several rules are governing this price guarantee. BMO will match the price for most Canadian travel providers:

  • Vacation Packages:Sunquest Vacations, ALBATours, TransatVacations, Nolitours, Signature Vacations, Air Canada Vacations, Sunwing and WestJet Vacations
  • Airfare:Air Canada or WestJet

Redeem BMO Rewards points for investments/statement credit

After travel, the second-best BMO Rewards points redemption is through a BMO investment account.

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Investissement

15,000 BMO Rewards points are worth $100 (or $0.0067/point).

It’s less than travel (14,000 points = $100), but it may be interesting for some people.

On the other hand, we won’t recommend you to redeem your BMO Rewards points as a statement credit: exchange rate is far from advantageous: 15,000 points are worth $50 (or $0.0033/point).

Redeem BMO Rewards points for Gift cards

Another option to redeem your BMO Rewards points is for gift cards.

cartes cadeaux

Here, BMO Rewards points value is variable:

Gift-card BMO Rewards points Value of 1 point
Best Buy = $100 19 300 $0.0052
Amazon / Costco – $100 20 300 $0.0049
Indigo – $100 18 700 $0.0053
Gap – $100 17 200 $0.0058
Best Western – $100 17 500 0.0057

On average, 10,000 points are worth $54 (or $0.0054/point).

Products with BMO Rewards Points

Like any loyalty program, you can redeem your BMO Rewards points for products.

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But, as we say in travel hacking:

You don’t buy a toaster with your points!

Here, we made the comparison on a product, the “Four Smart Oven Air Breville” sold for 90,000 BMO Rewards points.

four breville amazon

The same oven costs $599 plus taxes on Best Buy /Amazon, $688.70 with Quebec taxes. This makes a valuation of 10,000 points = $76.52 (or $0.00765).

Surprisingly, you find more value in buying this item than through travel! The exception confirming the rule?

After several tests, we found that the value varies significantly from product to product (between $0.003 and $0.008 / point!).

It will be up to you to test for your desired products!

Redeem BMO Rewards Points for experiences

Finally, you can redeem your BMO Rewards points for experiences!

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This option applies to only a few cities in Canada. When writing this post, the only one in Quebec is in Mont-Tremblant.

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64,500 BMO Rewards points for a getaway for two at Le Grand Lodge Mont-Tremblant:

  • One night for 2 in a suite
  • Breakfast for 2
  • Bottle of wine
  • Welcome cocktail

Compared to the rates spotted on the web, 10,000 points worth $62 (or $0.0062/point).

Conclusion

Here is a table of your various options:

Usage 10,000 points Value of 1 point
Travel $71.4 $0.0071
Investment $66.7 $0.0067
Experiences $62 $0.0062
Products $60 $0.0060
Gift cards $54 $0.0054
Statement credit $33.3 $0.0033

As you may have seen, the value of your BMO Rewards points can vary greatly.

One thing is for sure: do not use them for a statement credit; it is the worst possible redemption!

If you don’t redeem your points for travel, use it for investments, experiences or even gift cards.

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