BMO Rewards Guide 2026: Best Points Value & Redemptions

What is BMO Rewards?

BMO Rewards is Bank of Montreal’s in-house points program, earned on BMO credit cards including the BMO eclipse and BMO Ascend lineups. Each point is worth up to 0.67 cents when you redeem it for travel or invest it with BMO. You can book travel with any airline, hotel or travel site and apply your points afterward, with no blackout dates. The trade-off is that 0.67-cent ceiling, which is lower than most Canadian bank programs. A 5x earn rate is really a 3.35% return, not 5%.

Don’t confuse BMO Rewards with BMO Blue Rewards, the program that replaced AIR MILES for BMO cardholders. They’re two separate currencies, and you can’t move points between them.

The quick facts:

• Points value: 0.67¢ for travel (150 points = $1) and BMO investments (15,000 points = $100). Everyday purchases through Pay with Points get 0.5¢. Gift cards, merchandise and the fixed statement credit pay less.
• Best cards: the BMO eclipse Visa Infinite ($120 a year) for everyday spending, the BMO Ascend World Elite Mastercard ($150) for travel, the eclipse Visa Infinite Privilege ($599) for big spenders, and the no-fee eclipse rise Visa to start.
• Top earn rate: 5 points per $1, which works out to a 3.35% return when redeemed for travel.
• Expiry: points don’t expire as long as you have an open BMO Rewards credit card.
• Skip it if: you want airline transfer partners, a fixed-points flight chart, or points worth a full cent. BMO Rewards has none of those.

Here’s what BMO Rewards points are worth, how to earn them faster, and where they go furthest.

How much are BMO Rewards points worth?

BMO Rewards points are worth 0.67 cents each when you redeem them for travel or a contribution to a BMO investment account, and nothing pays more than that. Every other option is worth less, sometimes half as much.

How you redeem	Value per point	Rate
Pay with Points on travel (book anywhere)	0.67¢	150 points = $1, within 90 days of purchase
Travel booked through bmorewards.com	0.67¢	150 points = $1
BMO savings or investment account	0.67¢	15,000 points = $100
Pay with Points on any other purchase	0.5¢	200 points = $1, within 90 days of purchase
Merchandise and experiences	About 0.30 to 0.80¢	Varies by item
Gift cards	About 0.43 to 0.55¢	Roughly 23,000 points = $100
Fixed statement credit	0.33¢	15,000 points = $50. Skip it

The rule: aim for 0.67 cents every time. If you have no travel coming up, Pay with Points on everyday purchases at 0.5 cents beats gift cards, merchandise and the old statement credit.

What’s changed: Pay with Points now works on almost any purchase, not just travel, and you can redeem for as little as $1. That makes the old 15,000-points-for-$50 statement credit pointless.

How do you earn BMO Rewards points?

You earn BMO Rewards points with BMO eclipse and BMO Ascend credit cards, and the fastest way to build a balance is a welcome bonus. Here’s where the points come from.

1. Credit card spending. The eclipse and Ascend cards earn 1 to 5 points per $1, with the top rates on groceries, dining, gas, transit, drugstores or travel, depending on the card. The no-fee eclipse rise Visa earns per $2 spent instead. Accelerated categories have annual spending caps, so check them before you lean on one card. The card comparison is below.
2. Welcome bonuses. Offers range from 20,000 points on the no-fee eclipse rise Visa to up to 200,000 points on the eclipse Visa Infinite Privilege.
3. Authorized user boosts. Add a cardholder and the eclipse Visa Infinite earns 10% more points, while the eclipse Visa Infinite Privilege earns 25% more.
4. Annual bonuses. The eclipse rise Visa pays up to 5,000 bonus points a year: 2,500 for redeeming at least 12,000 points with Pay with Points, and 2,500 for paying your balance on time for 12 months.

To translate earn rates into real returns, multiply by 0.67. Five points per $1 is a 3.35% return, 3 points per $1 is 2%, and 1 point per $1 is 0.67%.

How to redeem BMO Rewards points for the best value

The best BMO Rewards redemptions pay 0.67 cents per point: travel you’ve charged to your card, or a deposit into a BMO investment account. Everything else is a step down.

Travel

BMO no longer forces you to book through its own portal. Charge any eligible travel to your BMO Rewards card, then cover it with points at 150 points per $1.

• How to do it. Sign in to bmorewards.com or the BMO Mobile Banking app, open the Pay with Points tab, pick the travel charge and choose how many points to use. You can cover part or all of the purchase, starting at $1. The credit shows up in 3 to 5 business days.
• What counts as travel. Airlines, car rental agencies, hotels and resorts, vacation packages, cruise lines, eligible vacation rentals, passenger railways, timeshares, travel agencies and tour operators. Charges from other merchants drop to the 200-points-per-$1 rate.
• Mind the clock. You have 90 days from the purchase date to apply points.
• Keep your loyalty perks. Since you book directly, you still earn Aeroplan or Marriott Bonvoy points and status benefits on the same trip.
• Watch foreign currency. BMO Rewards cards charge a 2.5% foreign transaction fee, and your points cover the converted amount including that fee. Hotels abroad that charge at checkout can cost more points than you expect.

One little-known perk: the BMO Ascend World Elite Mastercard’s travel insurance applies when you charge any portion of your trip to the card, including trips you pay for with points. Read your certificate of insurance for the details.

Investments

You can redeem 15,000 BMO Rewards points for a $100 contribution to an eligible BMO savings or investment account. That’s the same 0.67-cent value as travel, and it’s the only way to turn BMO Rewards points into cash without taking a haircut.

Think long term. A $100 contribution to a TFSA or RRSP earning 5% a year grows to about $265 after 20 years. If you aren’t travelling, this is the smartest use of your points.

Everyday purchases

Pay with Points also covers non-travel purchases at 200 points per $1, or 0.5 cents per point. Groceries, a gym membership, a streaming bill: if it’s on your card in the last 90 days, you can wipe it out with points. It’s a 25% drop from travel value, but it’s the best fallback.

What to avoid

Gift cards, merchandise and the fixed statement credit. Gift cards usually work out to around 0.43 to 0.55 cents per point, merchandise ranges anywhere from 0.30 to 0.80 cents depending on the item, and the statement credit pays just 0.33 cents. To check a gift card, divide the dollar value by the points needed: $100 for 23,000 points is 0.43 cents.

Best BMO Rewards credit cards right now

The BMO eclipse Visa Infinite is the best pick for most households because of its 5x earn rate on groceries, dining, gas and transit. Frequent travellers should look at the BMO Ascend World Elite Mastercard, and the no-fee eclipse rise Visa is the easy way to start.

Card	Annual fee	Welcome offer	Earn rates	Perks
BMO eclipse Visa Infinite	$120, waived the first year	Up to 70,000 points	5 per $1 on groceries, dining, gas and transit; 1 on the rest	$50 annual lifestyle credit, 10% more points with an authorized user, Instacart perks
BMO Ascend World Elite Mastercard	$150, waived the first year	Up to 115,000 points	5 per $1 on travel; 3 on dining, entertainment and recurring bills; 1 on the rest	Mastercard Travel Pass by DragonPass with 4 lounge passes a year, up to $200 NEXUS credit
BMO eclipse Visa Infinite Privilege	$599	Up to 200,000 points	5 per $1 on groceries, dining, drugstores, gas and travel; 1 on the rest	$200 annual credit, 6 lounge passes a year, 25% more points with an authorized user, NEXUS credit
BMO eclipse rise Visa	$0	20,000 points after $1,500 in 3 months, plus up to 5,000 a year	5 points per $2 on groceries, dining and recurring bills; 1 point per $2 on the rest	Mobile device insurance up to $1,000, no minimum income

The Ascend’s 5x travel rate applies to your first $15,000 in travel each calendar year, and each 3x category is capped at $10,000. The eclipse cards also cap their 5x categories annually, then drop to 1 point per $1.

Income requirements matter here. The Ascend World Elite needs $80,000 in personal or $150,000 in household income, and the eclipse Visa Infinite needs $60,000 personal or $100,000 household. The eclipse rise Visa has no minimum. BMO also offers a business card that earns BMO Rewards.

Offers change often. Check BMO’s site before you apply, and see my picks for the best BMO credit cards.

5 tips to get more from BMO Rewards

1. Always take the travel rate. Only merchants coded as travel get 150 points per $1. Check that a charge appears as travel in Pay with Points before you redeem.
2. Don’t miss the 90-day window. Points can only be applied to purchases from the last 90 days. Redeem right after your trip, not at the end of the year.
3. Invest when you’re not travelling. A deposit to a BMO investment account pays the same as travel, and it keeps growing.
4. Add an authorized user. On the eclipse Visa Infinite (10%) and eclipse Visa Infinite Privilege (25%), it boosts your earn rate for free or close to it.
5. Downgrade, don’t cancel. Points disappear when you close your last BMO Rewards card. Ask BMO about switching to the no-fee eclipse rise Visa, or redeem everything before you close.

How does BMO Rewards compare to other Canadian programs?

BMO Rewards tops out at 0.67 cents per point, which puts it behind Scene+, where most redemptions pay a full cent. It also can’t match programs with fixed-points flight charts like RBC Avion or CIBC Rewards, or programs with airline and hotel transfer partners like American Express Membership Rewards.

Its edge is earning and flexibility. The eclipse cards’ 5x categories, book-anywhere travel with no blackout dates, partial redemptions from $1, and full-value investment deposits are all solid. That’s why I still rank it last among Canada’s bank travel rewards programs, but it’s a good program if you spend heavily in the bonus categories.

BMO Rewards FAQ

How much are BMO Rewards points worth?

Up to 0.67 cents each when redeemed for travel (150 points = $1) or a BMO investment account (15,000 points = $100). Everyday purchases pay 0.5 cents, and gift cards, merchandise and statement credits pay less.

How many BMO Rewards points do I need for a flight?

Multiply the price by 150. A $500 flight takes 75,000 points, and you can cover part of it with points and the rest with your card.

Do BMO Rewards points expire?

No, as long as you have an open BMO Rewards credit card. Close your last one and your points are gone, so redeem first.

How do I use BMO Rewards points for travel?

Charge the trip to your BMO Rewards card, sign in to bmorewards.com or the BMO app, go to Pay with Points and select the purchase within 90 days. The credit posts in 3 to 5 business days.

Can I convert BMO Rewards points to cash?

Yes. The best way is a contribution to a BMO savings or investment account at 15,000 points per $100. Pay with Points on everyday purchases is worth 0.5 cents per point.

Is BMO Rewards the same as BMO Blue Rewards?

No. Blue Rewards replaced AIR MILES and has its own cards and partners. The two point balances can’t be combined.

Does BMO Rewards have transfer partners?

No. Points redeem at a fixed value, so you can’t move them to Aeroplan, Marriott Bonvoy or any other program.

What is the best BMO Rewards credit card?

The eclipse Visa Infinite ($120 a year) for everyday spending, the Ascend World Elite Mastercard ($150) for travel and lounge access, and the eclipse rise Visa (no fee) if you want a starter card.