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BMO Rewards Conversion Rate to Canadian Dollar – 0.3 to 0.7 CPP

BMO is a new player in the field of points. BMO used to heavily rely on Air Miles and promote Air Mile through their credit and debit card. However, since couple of years ago they have changed strategy and decided to introduce BMO rewards. BMO rewards is a reward system similar to other point system. You can best use it to book travel and hotel, it is running on an Expedia backbone website. You can also use it to redeem points for gift cards, and cash.


In Short:

  • Dollar Value of 1 BMO Rewards point – 0.003$ to 0.007$ 
    • CPP1 for BMO Rewards (0.3 to 0.7)
  • Points Best Used For: Travel
  • Option to Cash Out Points
  • Business Card Available

Let’s dig deeper. If you are planning to get a BMO MasterCard, I suggest to get the BMO world elite one. Your first year would be free and it typically has promotions going on to give you additional points. For now, it is offering 35000 bonus points. 

Value for Travel

Get 35,000 points and the $150 annual fee waived in the first year ($250 travel value booked on bmorewards.com + $150 Value).

As you can see the 35000 points is evaluated to be worth 250$; which means the dollar value of one point is 0.007.

Value for Cash

You can also cash out your points.

For every 15,000 points, get $50 cash credit¹

That means that the dollar value of your points would be 0.003. It’s a huge gap. 

Value for Gift Cards

For a typical gift card you are looking for a 5500 points for a 25$ gift card. So that means your dollar worth of 1 point is 0.004. 

What’s the best strategy to use your points? 

  1. Use it on their website to travel hotels, flights etc. You would get the best value for your points. 
  2. Use it to redeem it on their website, if you can’t find anything redeem it for Gift Cards.
  3. If none of them works for you, or you don’t have enough points for a gift card, just cash your points out. 

BMO Rewards for Business

BMO recently introduced the same BMO Rewards program for the business accounts. You can enjoy the same benefits if you have a small business. You also can have both cards at the same time, and use the offers. 

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