Every member of the iconic Air Miles rewards program can choose to collect Cash Miles, Dream Miles, or a mix of both. If you prefer to redeem your Miles on flights and hotels, choose Dream Miles. If you want to get at least 10.53 cents out of every Mile using in-store discounts and eVouchers, choose Cash Miles.
Key Takeaways
- Air Miles is a free membership and credit card rewards program operated by BMO.
- Air Miles members can collect Dream Miles (which can be exchanged for travel, donations, or merchandise), Cash Miles, or both.
- Cash Miles are worth at least 10.53 cents apiece on in-store discounts or eVouchers.
- You can collect Cash Miles by shopping at partner stores, using the Air Miles online shopping portal, scanning receipts, and/or using a BMO Air Miles credit card.
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What is Air Miles?
Air Miles is a store loyalty and credit card rewards program owned by the Bank of Montreal (BMO). Members earn Miles by shopping at partner stores, qualifying for bonus offers, and scanning receipts.
The more Miles you collect in a single calendar year, the higher your membership status for the rest of that year and the next:
- Blue Members can collect Miles and access contests, giveaways, and Air Miles Travel by creating a free account on AirMiles.ca
- Gold Members receive up to 30% off one travel booking per year, 1 Mile per $10 spent on travel, and an annual gift after collecting 500 – 4,999 Miles
- Onyx Members enjoy up to 40% off one travel booking per year, 1 Mile per $5 spent on travel, and up to 10% off merchandise after collecting 5,000+ Miles
Like Aeroplan, you don’t need a credit card to collect Air Miles, though it certainly helps. BMO Air Miles credit cards earn extra Miles at partner stores, automatic advanced membership status, and Miles on general purchases – but we’ll examine all the options later.
The first and most important choice for every Air Miles Collector is which reward to collect: Cash Miles, Dream Miles, or both?
Cash Miles vs. Dream Miles
Every Air Mile you collect takes one of 2 forms: Cash Miles or Dream Miles. You can choose to collect 100% Cash Miles, 100% Dream Miles, or a mix of both by using the Air Miles mobile app or website.
You collect Cash Miles and Dream Miles in the same ways and both count equally toward advanced membership status. The biggest difference between the two is what you can spend them on:
- Exchange Dream Miles for charitable donations and merchandise, or car rentals, cruises, flights, hotels, or travel packages on the Air Miles Travel website.
- Exchange Cash Miles for in-store discounts and eVouchers.
Ultimately, the question of Cash Miles or Dream Miles boils down to your choice of rewards: travel and merch, or cash? It also dictates the value you’ll get out of each Mile.
What are Cash Miles worth?
The Air Miles program assigns both types of Mile a different value, or cents per mile. Spend your Cash Miles on in-store discounts and merchandise and you’ll get 10.53 CPM. Redeem your Dream Miles on donations, merchandise, or travel, and you could get anywhere from 5 – 20+ CPM.
Cost of reward in $CAD / cost of reward in points x 100 = value in cents per mile (CPM)
Although Cash Miles lack the flexibility and value potential of Dream Miles, it’s rare to get more than 12 CPM out of Air Miles Rewards. If you want to maximize your Dream Miles, you’ll have to scour the merchandise catalogue or Air Miles Travel website for bargains. Getting consistent value out of Cash Miles is much easier.
How to redeem Cash Miles
There are just 2 ways to redeem Cash Miles: in-store discounts or eVouchers. You can redeem up to $750 worth of Cash Miles per day using either of the following methods.
In-store discounts
Redeeming 95 Cash Miles per $10 in-store discount is a straightforward way to get 10.53 CPM. Head to the checkout with a minimum purchase of $10 or more (before tax) and present your membership card or linked credit card to the machine or the cashier, then ask or select to redeem.
Keep an eye out for the occasional promotion, such as $10 for 95 Cash Miles and a 25-Mile kickback bonus. You can redeem up to 7,123 Cash Miles at once at 4 Cash Rewards partners:
| Province | Shell | Pharmasave | Irving Oil Gas Stations | Kent Building Supplies |
|---|---|---|---|---|
| New Brunswick, Newfoundland, Nova Scotia, and Prince Edward Island | ✅ | ✅ | ✅ | ✅ |
| Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland, Nova Scotia, Northwest Territories, Nunavut, Ontario, Saskatchewan, and the Yukon | ✅ | ✅ | ❌ | ❌ |
| Quebec | ✅ | ❌ | ❌ | ❌ |
Collectors can prevent unauthorized Cash Miles redemptions by "locking" their account using the Air Miles mobile app.
eVouchers
The Air Miles Cash Rewards website also trades 95 Cash Miles for every $10 of value for 10.53 CPM. Shop for $10 – $100 eVouchers from 60 stores such as Amazon and Walmart; services like DoorDash, SkipTheDishes, and Uber Eats; and retailers including Indigo and H&M.
eVouchers offer more variety than in-store discounts and the occasional promo. We found a $20 Pizza Pizza eVoucher for 130 Cash Miles (32% off the usual price), yielding a maximum of 15.38 CPM.
eVouchers never expire. If you misplace an eVoucher code or PIN, click "My Orders" in the top right corner to get another copy.
How to set your Air Miles balance preference
Once you’ve decided on Cash Miles, Dream Miles, or both, you can log into the Air Miles mobile app or website to set the balance preference slider.
Drag the blue widget to the left to earn more Cash Miles and right to earn more Dream Miles. When you’re done, click "Update balance preference" to save your changes, which will take effect at 3:00 AM ET on the following day.
How to earn Cash Miles
The next step to maximizing your Air Miles is to earn as many of them as possible.
There are 6 ways to add to your Cash Miles and/or Dream Miles accounts:
- Shop at Air Miles partners
- Scan Air Miles Receipts
- Shop online offers
- Link your Mastercard credit card
- Use a BMO Air Miles chequing account
- Use a BMO Air Miles credit card
The fastest way to earn is to combine multiple methods at once. Air Miles is an excellent program for double-dipping (i.e., earning points in multiple ways on the same purchase). Here are the basics.
1. Shop at Air Miles partners
There are 70 – 90 Air Miles partners across Canada offering Cash Miles for in-store and online purchases. Some stores provide flat earn rates (such as 1 Mile per $30 spent) while others award Bonus Miles if you meet certain conditions.
Naturally, the best shopping partner is Air Miles Travel – depending on your membership level, you can earn up to 5 Miles per $5 spent on the site.
2. Scan Air Miles Receipts
You can earn Bonus Miles by buying certain products from a major national or regional grocery store and uploading your receipt with the mobile app. Offers change regularly, so check the app for the most up-to-date promotions.
3. Shop online offers
AirMilesShops.ca rewards you for shopping at 250+ online retailers – including Amazon, Apple, Best Buy, PetSmart, Sephora, and Walmart – with earnings and Bonus Miles. The usual earning rate is 1 Mile per $20 spent (before taxes and shipping), but the occasional promotion asks Collectors to buy certain items or spend a minimum amount.
4. Link your Mastercard credit card
You can now earn Air Miles and opt into special Card Linked Offers by linking your credit card to your Air Miles account. With a linked card, there’s no need to present your membership card to collect – just use your Mastercard to pay at the till.
5. Use a BMO Air Miles chequing account
Serious Collectors may want to consider signing up for a BMO Air Miles Chequing Account. For $17.95 per month, you’ll receive 1 Air Mile per $30 spent with a BMO debit card and 25 Bonus Miles per month if you have a BMO Air Miles Mastercard.
It’s a step toward earning Miles on every dollar spent (not just at partner stores), but it’s not quite as lucrative as an Air Miles credit card.
6. Use a BMO Air Miles credit card
A BMO credit card is the best way to earn Miles on every purchase and double-dip using partner stores and bonus offers. The best Air Miles credit cards in Canada earn up to 3 Miles per $12 spent at 12 stores nationwide:
- Alamo, Budget, and National Car Rental
- Global Pet Foods and Pitou Mondou & Compagnons
- Irving and Shell
- Kent and Timer Mart
- Liquor Mart and the NSLC
- Pharmasave
Plus, reward credit cardholders get 1 Mile for every $12 – $25 of general purchases:
| Credit card | Annual fee | Welcome bonus | Rewards | Apply now |
|---|---|---|---|---|
| BMO AIR MILES World Elite Mastercard | $120 |  $150 GeniusCash + Up to 9,000 bonus miles, first year free (terms) | * 1 Mile for every $12 spent * 3x the Miles for every $12 at participating Air Miles partners * 2x the Miles for every $12 spent at any eligible grocery, liquor, and wholesale stores | Apply Now |
| BMO AIR MILES Mastercard | $0 | $20 GeniusCash + Up to 1,200 2,500 bonus miles (terms) | * 1 Mile per $25 spent on all purchases * 3x the Miles for every $25 at participating Air Miles partners * 2x the Miles for every $25 spent at any eligible grocery, liquor, and wholesale stores | Apply Now |
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FAQ
How do I convert Air Miles to Cash Miles?
Gold and Onyx Collectors can convert Dream Miles to Cash Miles (and vice versa) by using the "Transfer Miles" page on the Air Miles mobile app or website. Gold Collectors can transfer a combined maximum of 1,000 Miles per year, while Onyx Collectors can perform an unlimited number of transactions.
What’s the difference between Dream Miles and Cash Miles?
The only difference between Dream Miles and Cash Miles is what you can spend them on. Dream Miles are redeemable for donations, merchandise, and travel, while Cash Miles can be exchanged for in-store discounts and eVouchers.
Can you trade Air Miles for cash?
Air Miles can’t be exchanged for cash, but you can trade Cash Miles for cash-like rewards such as in-store discounts and eVouchers.
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