BMO Rewards Mastercard Changes
Removal of annual card fee
Discontinuation of Common Carrier insurance
Enjoy more rewards flexibility
- Travel reward changes
The number of BMO Rewards points needed to redeem3 for $1.00 in travel rewards will be increasing from 100 to 140 points. We understand that receiving full value for your travel rewards is important to you and we are committed to honouring the purchasing power of the BMO Rewards points you’ve already earned. As of January 15, 2018, we will be adding extra points to your BMO Rewards account to offset the impact of this change so you won’t lose the value of your points. This means there’s no rush to redeem your points now.
- Improved value of merchandise and gift cards
BMO Rewards is not just about travel. As of January 15, 2018, you’ll be able to redeem for merchandise and gift cards with up to 20% fewer points!
- Invest more for your future with BMO financial contributions
We have improved the value you receive when redeeming your points for eligible BMO investment accounts. You’ll be able to invest with 25% fewer points. It has never been more rewarding to invest in what matters to you most.
- Coming February 2018! Turn your BMO Rewards points into cash
For the ultimate in flexibility, treat yourself by purchasing whatever you want, wherever you want and use your BMO Rewards points to pay down your credit card balance. Get ready to pay yourself with points!
Extended call centre hours
- Monday – Friday 8 am to midnight EST
- Saturday 8 am to 8 pm EST
- New! Sunday 10 am to 6 pm EST
- Earn 1 BMO Rewards point for every $1.00 spent on your card4 and your points never expire.5
- Use any combination of points and cash to redeem for your travel costs with no mark-ups, blackouts or seat restrictions on flights. There’s no need to wait to take the trip you want.
- Cover all flight charges and taxes3 at the same points value as the base fare.
- Enjoy extended warranty and purchase protection6on most of your purchases.
- I just paid my annual fee. Will I receive any reimbursement?Yes, we will be applying a prorated refund to your credit card account for any annual fees that charged between February 1, 2017 and January 14, 2018. This refund will be applied on your January or February 2018 statement depending on your cycle date. For example, if you paid your annual fee 3 months prior to the annual fee being removed from the card, you will be reimbursed for the value of the remaining 9 months.
- Will I still be covered under the Common Carrier travel insurance if I book travel prior to January 15th?Yes, any travel booked on or before January 14, 2018 will still be covered under the Common Carrier Insurance, if the travel is between January 15, 2018 and May 31, 2018. If you are travelling after May 31, 2018 and require Accidental Death and Dismemberment coverage please make alternative arrangements.
- Why is the travel value rate being reduced so I now have to redeem 140 points instead of 100 points for $1 worth of travel rewards?We occasionally need to make changes to our products and services to stay competitive within the marketplace. Although the travel rewards value is changing, it remains competitive to other rewards credit cards. We understand that receiving the full value for your travel rewards is important to you, and as such, we will be adding extra points to your rewards account to offset the impact of these changes so you won’t lose the value of the points you’ve already collected.
- What happens to the value of the points I have already collected?We understand that receiving full value for your travel rewards is important to you and we are committed to honouring the purchasing power of the BMO Rewards points you’ve already collected. As of January 15, 2018, we will be adding extra points to your BMO Rewards account to offset the impact of this change so you won’t lose the value of the points you’ve already collected. Even if you’re not planning to redeem your points for travel, you can use these extra points to redeem for merchandise, gift cards and other rewards, so you can reward yourself even sooner.
- How many extra points are you adding to my rewards account to offset the impact of the change to travel rewards value?You can check the amount of extra points added to your rewards account by logging into your rewards account at www.bmorewards.com, selecting ‘My profile’, then selecting ‘My statement’ to see the history of your points balance. This one-time point adjustment will ensure that you retain the full travel value of the points you have already collected prior to the changes. All points earned beyond January 15, 2018 will have the new travel value.
For example: John has a BMO Rewards points balance of 10,000 points with a travel rewards value of $100 as of January 14, 2018. To ensure there is no change to the purchasing power of John’s existing points, BMO will top-up John’s account with 4,000 more points on January 15. As a result, on January 15, John will now have 14,000 points which will equate to $100 in travel rewards value.
- When will the extra points be added to my rewards account?The extra points will be applied to your account on January 15, 2018.
- Do the extra points being added to my rewards account have an expiry date?No, these points are yours for as long as you have a valid BMO Rewards account.
- I am not planning to redeem my points for travel. Can I use the extra points to redeem for other rewards?Yes, you can redeem the extra points on any rewards you want at www.bmorewards.com
- When will the rewards catalogue be updated with the improved value on merchandise and gift cards?Merchandise and gift cards in the BMO Rewards catalogue will have the improved value as of January 15, 2018, so you can redeem for the same great items with up to 20% fewer points. For example, an item currently on BMO Rewards catalogue has a 20,000 points value. It could be reduced as much as by 4,000 points for an item value of 16,000 points. You can check out these rewards at www.bmorewards.com
- When will the BMO financial investment redemption value be improved on bmorewards.com?As of January 15, 2018, you will be able to redeem your BMO Rewards points for eligible BMO financial investments with 25% fewer points through www.bmorewards.com. Please visit www.bmorewards.com for the list of eligible investment accounts. For example, currently you need 10,000 points to redeem for a $50 BMO financial investment. As of January 15, 2018, you will only need to redeem 7500 points for a $50 BMO financial investment.
- How can I redeem my BMO Rewards points to get a credit applied to my BMO credit card balance?Coming February, 2018, you will be able to redeem your points as a credit to your credit card balance by visiting www.bmorewards.com. Simply follow the steps that will be provided on the site.
- If I redeem my points for a credit towards my credit card balance, will this credit be applied to my payment owing?Coming February, 2018, the cash value of the points redeemed will be applied as a credit to your outstanding balance. The payment owing reflected on your credit card statement will not change.
- How will I find out that the ability to redeem my BMO Rewards points as a credit to my credit card statement has been launched in February?Once this new redemption option is launched in February, we will notify all registered BMO Rewards customers by email. If you haven’t already done so, please register your BMO Rewards collector number at www.bmorewards.com (primary cardholder only) and select yes for receiving BMO Rewards emails on updates to the BMO Rewards program and exclusive offers.