BMO Rewards has made a favorable permanent change to its program: you no longer have to redeem points through the BMO Travel portal; Instead, you can book any trip using your BMO Rewards credit card and apply points at an optimal ratio of 0.67 cents per point (cpp).
Permanently redeem BMO rewards at 0.67cpp
BMO is one of the banks whose reward program we have criticized in the past, especially for its unpopular move to reduce the travel redemption rate from 0.71cpp to 0.67cpp..
To add insult to injury, this results in the ideal redemption rate 150 BMO reward points for 1 The price was exclusively available on the BMO Prize travel portal, which can often be quite boogie.
Earlier this year, if you wanted to redeem BMO rewards for any other type of purchase not made on their web portal, you would have to openly accept the patent rate. 200 BMO reward points = $ 1. This is an inspirational 0.5cpp amount.
Now, BMO has at least acknowledged that they need to experiment with the rigidity of redemption models and offer consumers a little more punch for point redemption.
That’s why, you can redeem your BMO reward points All travel shopping anywhere The standard rate mentioned above is 150 points per $ 1, or 0.67cpp.
Unless your BMO rewards credit card purchase codes as flight, hotel, car rental, cruise, bus, train or any other type of travel, you can go when it’s time to burn your BMO reward points.
To redeem, just sign in to bmorewards.com, select the “Pay with points” tab, and use as many points as you want to offset your eligible purchase.
Why would I pay using my BMO reward points?
This permanent change is ideal, as it not only allows you to redeem your points the way you want, but also allows you to avoid the bank’s in-house travel agency (if and when it reopens). Oh, did I not mention that there is trouble in Paradise?
At the moment BMO Rewards’ own internal travel portal is not working at all and the issuer has not indicated any timeline for when it can reopen. Therefore, this option to redeem on your own way to travel is the only way to get the most value out of the BMO rewards program.
In general, flying on an itinerary booked with an inbound travel agency like BMO can prevent you from getting rewards like Airplane Point or Alaska Miles. Hotel bookings will similarly prevent you from earning sweet prizes, such as the World of Hyatt Point or the Marriott Forest Fear Elite.
Similarly, you will not be able to avail the benefits like suite upgrade or free breakfast which you can earn as an elite member of the hotel. In addition, you can’t use eUpgrades to use “Latitude Attitude” and instantly convert your cheap economy seat to a Business Class One.
This new option to redeem travel “as you go” offers a much more competitive experience: you can book any trip directly with the provider, entitle you to all the points, nights and benefits offered by your chosen loyalty program, and then offset the charge Use BMO reward points.
Effectively, BMO Rewards is now the currency of Canada’s more flexible travel rewards, along with HSBC Rewards and Scotiabank’s Scene +. Now if only the remaining 5 big banks could catch – I’m looking at you, CIBC Aventura and TD Rewards.
The best BMO credit card to win a BMO award
The most basic BMO rewards product, aptly named BMO Rewards Mastercard, has a welcome bonus of less than 10,000 points, equivalent to $ 67 per trip. It’s just even a megabus ticket.
At the other end of the spectrum is the BMO eclipse Visa Infinite Privilege. This card has a hefty $ 499 annual fee, but it offers a $ 200 annual credit to offset costs, as well as a welcome bonus. 50,000 BMO reward points After spending $ 6,000 in the first three months of holding the card. It also has six Dragonpass lounge passes.
These points will cost $ 365 towards the onward journey. Therefore, after paying a high annual fee, your profit will be only $ 66, and some lounge visits.
However, I think it’s BMO’s middle-of-the-road card that offers the best value under the current promotion.
Although BMO Ascend World Elite MasterCard is second in comparison, it still offers a decent sign-up bonus. 30,000 points After spending $ 3,000 in the first three months, as well as a $ 150 annual fee waiver.
বিনামূল্যে 200 on free travel is not insignificant, and the card comes with four complimentary DragonPass Lounge visits per year.
On the other hand, you have the BMO eclipse Visa Infinite, which in my opinion is the clear winner. Its $ 120 annual fee is waived in the first year, and you’ll immediately receive a lifestyle credit of $ 50 per calendar year.
In addition, its a welcome bonus 30,000 BMO reward points After spending $ 3,000 in the first three months, BMO Ascend equals it with World Elite MasterCard, And It earns 5x points on food, drink and groceries.
| Credit card | The best opportunity | Value | |
|---|---|---|---|
|
Up to 60,000 BMO award points First year free |
Up to 60,000 BMO award points | 320 |
Apply now |
|
2,000 air miles First year free |
2,000 air miles | $ 265 |
Apply now |
|
Up to 60,000 BMO award points First year free |
Up to 60,000 BMO award points | $ 221 |
Apply now |
|
10,000 BMO prize points $ 0 annual fee |
10,000 BMO prize points | $ 77 |
Apply now |
|
Up to 90,000 BMO award points $ 499 annual fee |
Up to 90,000 BMO award points | $ 74 |
Apply now |
Conclusion
When it comes to the Bank of Montreal, I often have mixed feelings. The constant devaluation of their signature products leaves a bad taste in the mouths of consumers, and I have felt in recent years that the company does not keep pace with their competitors at all.
As a result, it’s nice to see this financial institution make an active choice by trying to refresh their broken in-house BMO rewards program by finally being able to redeem points against any trip at the best price of 0.67cpp.
Nevertheless, if the BMO is to be a serious competitor, it is an initial step in rebuilding the customer’s goodwill and competitive advantage. Due to the recent pattern of devaluation, it is almost certainly better to redeem quickly without trying to hide BMO rewards.
Until next time, do not use in-house online travel agency.
