There may not be a more divisive event in Canadian rewards history than when Air Miles introduced Dream and Cash Miles in March of 2012.
Before you even earned a Mile, you were forced to decide whether you wanted to use your Miles for cash rewards or travel and merchandise. And if you weren't paying attention, they lumped everything into Dream Miles for you, without letting you change anything back.
Thankfully, BMO is planning to end this practice. In an email sent to members, it was announced that, as of January 25, 2026, all your Miles will be put into a single balance. Choosing between Dream and Cash Miles will be a thing of the past.
Never miss an amazing deal again + get our bonus 250+ page eBook for FREE. Join 50,000 other Canadians who receive our weekly newsletter – learn more.
Dream and Cash Air Miles are going away
We wouldn't blame you if you didn't believe us. But it's true.
It's been the biggest complaint of Air Miles customers. And since BMO took ownership of Air Miles, they’ve listened.
First, BMO introduced a workaround. Regular collectors could move 500 miles a year between their balances. With Air Miles Gold status, you could transfer 1,000 Miles per year. And Onyx status gave you the ultimate freedom; you could move as many Miles as you wanted, any time.
So, in hindsight, it was only a matter of time before they announced this latest change.
We'll use this post to say goodbye to that silly slider that divvied up what you earned between Dream and Cash.
BMO Air Miles credit cards
When the change takes effect in January 2026, BMO Air Miles cards will lose a valuable perk. Since all Air Miles users will be able to redeem Miles however they want, there’s no longer an advantage in having the status to move Miles around.
But, overall, this change is making it easier for collectors to manage Miles – you no longer need to switch points over if you change your mind about how you want to redeem them. And hopefully BMO finds a new perk to add to these cards.
If you're interested in a BMO Air Miles card, here are your options, both personal and business.
×1 Award winner 
$150 GeniusCash + Up to 9,000 bonus AIR MILES + 3x the AIR MILES at partners.*
GC: $150
1x Award winner 
Keep up to date with rewards program changes
Keep up to date on major changes to Canadian Rewards programs. Subscribe to our newsletter to stay on top of this and other credit card updates.
creditcardGenius is the only tool that compares 126+ features of 227 Canadian credit cards using math-based ratings and rankings that respond to your needs, instantly. Take our quiz and see which of Canada's 227 cards is for you.
GC: 
Comments
Leave a comment
Required fields are marked with *. Your email address will not be published.