You may already be familiar with the BMO Rewards program. Being a flexible rewards program, you can redeem your points for travel, investments, merchandise, and more.
Today, we’re going to look at the BMO Rewards update.
There have been some small tweaks to how you can redeem your BMO Rewards points for travel. If you’re looking for a short (or long!) getaway to escape your job stress for a bit, read on.
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How to redeem your BMO Rewards points for travel
We’ll start off with a quick refresher on how to redeem your BMO Rewards points for travel before we get into the BMO Rewards update.
As you accumulate points, you’ll get access to more valuable travel redemptions. The standard conversion rate between BMO Rewards points and dollars per travel is 150 points to $1.
For example, if you were to go on a short flight worth $233, it would cost you 35,000 worth of BMO Rewards points.
One good thing about redeeming your BMO Rewards points for travel is that there are no blackout dates or restrictions. The only restriction was that you had to book through the BMO Rewards website.
Notice how we used the word “was”?
That, ladies and gentlemen, is your update.
BMO Rewards update for travel
Joining the ranks of floppy disks, Betamax, and Netscape Navigator, the restriction of booking only through BMO Rewards is now a thing of the past.
As of summer 2022, you can now book travel with any provider you want.
This gives you full freedom and access to plenty more options. Did a once-in-a-lifetime deal just pop up on Air Canada or WestJet? Redeem your points and hop on that plane. Did the perfect new Airbnb just become available right in the middle of Seoul? You know it’s time to attend your first live K-Pop concert.
In short, you can book directly with any airline or hotel.
No matter what the platform, you now have the ability to score that deal. The redemption rate also remains the same, so you know exactly how many points you need to redeem.
How the process works with the new BMO Rewards update
Excited by the BMO Rewards update? It’s as easy as ever to book your much-needed vacation. Here are the steps you need to take to book your next holiday using your BMO Rewards points.
- After paying for your air ticket or hotel with your BMO Rewards card, sign in to your BMO Rewards account and go to “Pay with Points.”
- Select “Redeem” on any of your recent travel purchases and use the slider to determine how many points you want to redeem.
- That’s it! The points you spent will be converted into a cash credit within 5 business days. It’ll feel like you’re paying nothing at all! (Stupid sexy Flanders).
What travel expenses can you redeem your BMO Rewards points for?
Broadly, in terms of travel, you can redeem your BMO Rewards points on 2 categories – transportation and accommodations.
Here’s a complete list:
- flight expenses (including taxes, surcharges, baggage fees, and seat selection),
- cruises,
- train tickets
- car rentals,
- hotels, resorts, chalets,
- timeshares,
- travel agencies,
- tours, and
- vacation packages.
Best cards to take advantage of this BMO Rewards update
Want a few example cards that you can use to earn some points to really take advantage of this BMO Rewards update? Here are 3 examples of good BMO cards that you may be interested in trying.
An excellent card for the next time you travel
GC: $125
$125 GeniusCash + Up to 
We’ll start with a travel-centric card. The
- 5 points per $1 spent on travel
- 3 points per $1 spent on dining, entertainment, and recurring bills
- 1 point per $1 spent on all other purchases
As you can see, you get the highest return on travel purchases, which means you’ll earn more points to redeem with the BMO Rewards update. If you’re travelling, the increased rate on dining and entertainment is a nice bonus too since, hey, who wants to cook while experiencing a new city?
The welcome bonus is also something that will pique your interest. With it, you can earn up to 100,000 points after spending $4,500 in the first 3 months and $2,500 every month for the next 12 months. Want to do some Big Shaq-esque quick maths? Those points are worth up to $670.
In addition to exciting earn rates, you’ll also get comprehensive insurance coverage. Here’s a table full of numbers for the mathematically inclined:
BMO Ascend™ World Elite®* Mastercard®* Please review your insurance certificate for details, exclusions and limitations of your coverage.Extended Warranty 1 year Purchase Protection 90 days Travel Accident $500,000 Emergency Medical Term 21 days Emergency Medical Maximum Coverage $5,000,000 Trip Cancellation $1,500 Trip Interruption $2,000 Flight Delay $500 Baggage Delay $500 Lost or Stolen Baggage $500 Personal Effects $750 Hotel Burglary $1,000 Rental Car Theft & Damage Yes Rental Car Accident $200,000 Rental Car Personal Effects $1,000
If you’re like me and mathematically challenged, we can summarize this travel-focused insurance in one word: excellent.
One thing that stands out is personal effects insurance. If anything you bring along with you (well, almost anything) is lost, stolen, or damaged, you’ll have up to $750 in coverage. In addition to this, you’ll also get coverage for things like trip cancellation and interruption, flight delay, and lost, stolen, or delayed baggage.
Despite its annual fee of $150, it’s a very travel-focused card that will reward you the most out of any of the BMO cards on offer.
One more bit of good news? This offer also comes with an added bonus of $125 in GeniusCash. This is enough to offset most of your first year's annual fee, or as a way to treat yourself to a nice dinner in your favourite faraway land.
Earn more on your daily purchases that can go towards your next holiday
GC: $150
Another option you have to earn points for the BMO Rewards update is the
Here, you won’t get travel benefits like you would with the BMO Ascend World Elite Mastercard, but you will be able to earn points more quickly on some more common daily spending categories.
Here are the earn rates you’ll be interested in:
- 5 BMO Rewards points for every $1 spent on dining, groceries, gas, and transit
- 1 point per $1 spent on all other purchases
Those 4 categories with the boosted spending are some of the most common categories for everyday spending, so it’s a welcome sight to see them as a potential way to earn you more BMO rewards points.
In terms of the welcome bonus, you get a little bit less, but you may make up for it with your everyday purchases. The welcome bonus is 70,000 BMO Rewards points after spending $3,000 in the first 3 months and $2,000 every month in the first year. These spending goals are attainable and if you go about your normal shopping, you should also net a decent haul of points as well.
The insurance coverage isn’t nearly as good – in terms of travel-related insurance, you’ll only be getting travel accident coverage, plus theft and damage coverage if you rent a car. In total, this card only gets you 6 types of insurance.
But this card does have a slightly lower annual fee of $120.
There is more good news though. If you get approved for this card, you can earn $150 in GeniusCash as an added bonus. It may not be enough to offset an annual fee or pay for a plane ticket in its own right, but free money is free money!
Will you take advantage of the BMO Rewards update?
Are you excited about this new BMO Rewards update? Where are you planning to go if you take advantage of these BMO Rewards redemptions? Anything new you’re interested in trying like booking through Air Canada or Airbnb?
Share your future travel plans with us. Maybe we’ll see you there!
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