BMO Rewards is the loyalty program offered by BMO (Bank of Montreal), allowing cardholders to earn points on select BMO credit cards. These points can be redeemed for travel, merchandise, gift cards, investments, and even statement credits, providing flexibility in how you use your rewards.
Tired of guessing what the value of 100 BMO Rewards points is? FinlyWealth's point calculator tool can estimate the value of your points when redeemed through various options in Canada.
Get up to $1,200 in value including up to 80,000 Bonus points, monthly streaming statement credit, $50 statement credit, and no annual fee in your first year.*
Get up to $1,900 in value including up to 115,000 points. Plus, get a 0% introductory interest rate on Balance transfers for 12 months.*
Get up to 25,000 bonus points in your first anniversary!*
Get up to $1,200 in value including up to 80,000 Bonus points, monthly streaming statement credit, $50 statement credit, and no annual fee in your first year.*
This card is ideal for individuals who want to maximize rewards on everyday purchases like dining, groceries, and transit while benefiting from a generous welcome bonus and lifestyle credit. However, the point value and high income requirements may be limiting for some.
Pros
Generous rewards
Annual lifestyle credit
Authorized user bonus points
first-year fee rebate
Cons
Lower point value
High income requirements
Limited insurance
Rewards
Earn 5x the BMO Rewards points on groceries, takeout, food delivery, rideshare, gas and transit.*
Get 1 BMO Reward for every $1 spent on everything else.*
Insurance
Coverage
Purchase Protection
90 days
Extended Warranty
1 year
Mobile Device Insurance
$1,000
Common Carrier Travel Accident Insurance
$500,000
Travel Medical Insurance (64 & under)
$5M up to 15 days
Car Rental Damage & Theft
$65K up to 48 days
Benefits
Details
Visa Infinite Exclusive Benefits
Exclusive luxury hotel collection, unique dining and wine events
Golf Benefit
Troon Rewards Golf benefits like discounts at over 95 resorts and courses around the world plus access to select private clubs across the U.S
Anniversary Credit
Get a $50 anniversary lifestyle credit*
Concierge Services
Discount
Enjoy six months of Instacart+ and a $10 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
Extra points
Earn 10% more points when you add an authorized user to your account.*
Eligibility
Credit Score
Very Good
Annual Income
$60,000 personal or $100,000 household
The top-rated BMO Rewards credit card is none other than the BMO eclipse Visa Infinite Card.
To help you get settled into this card’s lucrative way of spending, the annual fee is completely waived during the first year of membership. Still, applicants will need to meet some annual income requirements for approval.
Once approved, cardholders unlock a significant amount of points per dollar spent on restaurants, fast food, coffee shops, food delivery, groceries, gas, and daily transit – which basically covers all of the basics!
Don’t underestimate the benefits either, with the BMO eclipse Visa Infinite Card, members receive perks like Troon Rewards Golf benefits, gas discounts on Shell fuel for AirMiles members, and an anniversary lifestyle credit each year that can be applied to any type of purchase.
Overall, the BMO eclipse Visa Infinite Card is fit for day-to-day shoppers who want strong point-potential on common spend categories, adequate coverage, and some enticing benefits like that annual anniversary lifestyle credit.
The BMO Ascend™ World Elite® Mastercard® is perfect for frequent travelers who want a premium card offering high earning rates on travel, dining, and entertainment, plus valuable travel perks like lounge access and comprehensive insurance coverage. If you travel often and can meet the income requirement, this card offers flexibility and peace of mind with both rewards and protection while you're on the go.
Pros
Generous rewards
Lounge access
Comprehensive insurance
first-year fee rebate
Cons
Low point value
High income requirements
Limited lounge availability
Rewards
5x points per $1 spent on eligible travel purchases (up to $15,000 spent)*
3x points per $1 spent on eligible dining, recurring bill payment and entertainment purchases (up to $10,000 spent per category)*
1x point per $1 spent on all other eligible purchases*
Insurance
Coverage
Purchase Protection
90 days
Extended Warranty
Double up to 1 year
Travel Medical Insurance (64 & under)
$5M up to 21 days
Common Carrier Travel Accident Insurance
$500,000/person
Trip Interruption
$2K/person, $10K/trip
Trip Cancellation
$1,500/person, $5K/trip
Flight Delay
$500 after 4 hours
Baggage Delay
$500/person, $1K/trip
Lost or Stolen Baggage
$500/person, $1K/trip
Hotel Burglary Insurance
$1,000
Car Rental Damage & Theft
$65,000 up to 48 days
Benefits
Details
Airport Lounge - Dragon Pass
4 complimentary visits
Discount
Up to 7% discount on Booking.com prepaid hotel or property rental bookings
Discount
20% off admission to Cirque du Soleil shows touring Canada, and 15% off resident shows in Las Vegas
Car Rental Discount
20% off base rate of participating National Car Rental and Alamo Rent a Car and up to 5% on Enterprise Rent-A-Car
Discount
FlexiRoam: Stay connected around the world without a SIM card and get up to 15% off a Global Data Roaming plan plus up to 3GB of data, free.
Discount
Enjoy six months of Instacart+ and a $10 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
Eligibility
Credit Score
Good
Annual Income
$80,000 personal or $150,000 household
For a slightly higher annual fee (one that's also waived for the first year), you can get your hands on the BMO Ascend World Elite Mastercard.
This card earns you plenty of cashback on eligible travel, dining, recurring bill payments, and entertainment.
For perks, expect discounts on rental cars, Booking.com prepaid hotels or rental properties, Cirque du Soleil shows, the FlexiRoam Global Data Roaming plan, plus complimentary visits to Dragon Pass airport lounges.
On top of a higher annual fee, this card also comes with some high annual income requirements, making it a bit trickier to qualify for.
Therefore, the BMO Ascend World Elite Mastercard is great for high-earners looking to collect cashback instead of points, and reap the benefits of countless perks and insurance categories. On the other hand, while it has less coverage and fewer impressive perks (like airport lounge access), the BMO eclipse Visa Infinite Card offers solid point-potential at a lower annual cost, plus lower-income applicants can qualify.
The BMO Eclipse Rise Visa is an excellent choice for those who want to earn rewards without paying an annual fee. It offers solid bonus categories like dining, groceries, and bills, and includes rare perks such as mobile device insurance. The card is ideal for newcomers or those looking to build their credit while enjoying the benefits of a no-fee rewards card with simple, everyday earnings. If you frequently spend in the bonus categories, this card provides good value without any added costs.
Pros
No annual fee
Impressive bonus categories
Mobile device insurance
Generous welcome bonus
Annual bonus points
Fuel savings
Cons
Low base earn rate
Low point value
Rewards
5x points per $2 spent on eligible dining, groceries and recurring bill payments (up to $5,000 spent per category)
1x point per $2 spent on all other eligible purchases
Insurance
Coverage
Purchase Protection
90 days
Extended Warranty
1 year
Mobile Device Insurance
$1,000
Benefits
Details
Extra points
2,500 bonus points per year for paying full credit card bill on time for 12 consecutive months
Extra points
Another 2,500 bonus points for redeeming at least 12,000 points annually towards your statement balance with Pay with Points
Discount
Enjoy three months of Instacart+ and a $5 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
Eligibility
Credit Score
Good
Annual Income
N/A
Let’s say you’re looking for something more accessible and budget-friendly. In that case, check out the BMO eclipse rise Visa Card.
For no annual fee or annual income requirements, you can collect about half of the BMO rewards points on eligible dining, groceries, and recurring bill payments. Once you hit this card’s lower spending caps, keep in mind that you’ll be subject to a below-average base rate.
As expected, the coverage on this card is very basic, offering only extended warranty and purchase protection insurance, plus mobile device insurance.
The benefits are pretty minimal as well, with gas discounts on Shell fuel for AirMiles collectors and extra points for paying your credit card bill in full for 12 consecutive months or redeeming a certain amount of points annually towards your statement balance with Pay with Points.
All in all, this is the BMO Rewards credit card to go for if you want something that’s more affordable and accessible, yet still beneficial in terms of collecting some BMO Rewards points.
How do you Redeem your BMO Rewards Points?
Alright, so now that you understand where your BMO Rewards come from, it’s time to brush up on this loyalty program’s redemption opportunities.
The table below breaks down every BMO Reward redemption category, redemption options, and estimated associated point values.
Redemption Category
Redemption Options
Estimated Average Point Value
Travel
Pay with Points to cover eligible travel bookings like:
Flights
Hotel stays
Car rentals
Vacation packages
Cruises and more
0.67 cpp
Financial Products
Redeem points for a contribution towards a BMO savings or investment account
0.67 cpp
Statement Credits
Opt to Pay with Points and apply your BMO Rewards points directly towards any eligible purchases
0.5 cpp
Gift Cards
Redeem points for eligible gift cards offered by participating brands
0.48 cpp
Merchandise
Purchase eligible products provided by partner brands with points.
0.45 cpp
Next, let’s dive a little bit deeper into these redemption categories:
Many more optimized loyalty programs allow you to redeem your points towards travel, but lots of those loyalty programs also require you to book those travel arrangements through specific platforms.
With the BMO Rewards program, you can redeem your points towards travel bookings made through any provider.
Any points used towards travel-related purchases have a redemption rate of 150 points = $1.
To make this type of redemption possible, simply:
Book travel using your BMO Rewards credit card
Sign in to your BMO account and select the “Pay with Points” tab in the drop-down menu
Choose any travel purchase you’ve made within the last 90 days
Select the amount of points you’d like to apply to the chosen transaction
Wait about 3-5 business days to see your points turn into a cash credit on your account
Plan ahead and apply your BMO Rewards points’ value towards financial products like a BMO savings or investment account.
To do so, redeem your points as a cash deposit into either account type.
Specific financial product opportunities include:
A BMO Premium Rate Savings Account: opened alongside a chequing account under the same Plan. This type of account earns daily interest on every dollar deposited using BMO Rewards points.
A BMO Smart Saver Account: ideal for those with long-term savings goals, this account helps you save and earn interest on every dollar deposited using BMO Rewards points.
A BMO Investorline: a way to self-manage your portfolio, all while being provided with research, tips and tools to help you make informed trades.
With Pay with Points, you can basically cover any eligible purchase – even beyond travel!
All you have to do is:
Log into your BMO account
Click or tap the “Pay with Points” tab
Select an eligible purchase made with your BMO Rewards credit card
Choose how many points you’d like to redeem towards that purchase
Maybe you’re looking to transform your points into the perfect present. If so, BMO offers a wide selection of gift cards for you to redeem your rewards towards.
Explore cards from brands like:
Cineplex
Tim Hortons
Lululemon
Sephora
Indigo
Sobeys
Amazon
Esso
Starbucks
Walmart and more
To calculate your cent-per-point value on a specific gift card selection, simply divide the value of the gift card by the amount of points required for the redemption, then multiply that result by 100.
Perhaps you’re looking to get your hands on something more specific. In that case, consider swapping your BMO Rewards points for eligible merchandise.
Sift through thousands of products from multiple brands in categories like:
Body & Soul
Children & Toys
Computers, Phones & Office
Eco-friendly/Sustainable
Entertainment
Fashion & Travel
House & Home
Kitchen & Dining
Sports & Recreation
To calculate your cent-per-point value on a specific product, simply divide the value of the product by the amount of points required for the redemption, then multiply that result by 100.
You can browse available products and their costs by:
Signing into your BMO account
Selecting the “Shop” tab from the drop-down menu
Clicking “Merchandise”
Setting any necessary filters to narrow your search (i.e. your preferred product category)
What’s the Best Way to Optimize your BMO Rewards?
Based on the above redemptions table, it’s clear that the best way to redeem your BMO Rewards points is either by applying them to travel purchases made on your BMO Rewards credit cardorturning their value into a contribution towards a BMO savings or investment account.
Are BMO Rewards Worth it?
Based on our previous analysis, it’s safe to say that BMO Rewards are best suited to flexible travellers and financial planners – as these two types of spenders will squeeze the most value out of their BMO Rewards points.
If you fit either of these profiles, remember that you also have a couple of options when it comes to choosing which card you use to collect and redeem your BMO Rewards points, everything from premium selections to budget-conscious contenders.
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