Start here: BMO Rewards — earn, redeem with Pay with Points and keep your points

Step 1: What BMO Rewards is and who it suits

You will learn: what the BMO Rewards terms cover, who they bind and where the detail lives.

If you hold a credit card that uses the BMO Rewards loyalty program, you agree to the BMO Rewards terms and conditions, which form part of the BMO Credit Card Cardholder Agreement between you and BMO [1]. In those terms, "you" means the primary cardholder, and all other definitions in the cardholder agreement apply [1]. The document states that it does not contain all detailed information and directs readers to bmorewards.com and its Terms and Conditions section for the rest [1]. For questions about the programme and redeeming points, BMO points cardholders to bmorewards.com or the BMO Rewards Centre at 1-866-991-2835 [1].

The rewards available in the programme are merchandise rewards, travel rewards, financial rewards and charity donations [1]. This course is for the holder of a BMO credit card that uses BMO Rewards who is reading the programme rules for the first time.

Go deeper: Canadian card points programmes compared and Start here: cards and transfers.

Step 2: How you join: your card and collector number

You will learn: where your points sit, when purchases start earning and who owns points earned on a second card.

Points are linked to a collector number, a unique identifier BMO issues to a BMO Rewards customer, and every point earned or redeemed on a points account is tied to it [1]. The collector number is found by logging into BMO Online Banking and visiting the rewards tab [1]. A points account is the account BMO uses to record points earned and redeemed in the programme [1].

Net purchases qualify for the issue of points only if the account is in good standing and the purchases are charged to the account after enrolment in the programme has been completed [1]. Points earned by an additional cardholder are automatically added to the primary cardholder's points account, and additional cardholders have no rights against BMO in relation to the programme [1].

Go deeper: Authorized user and Card selection framework.

Step 3: How earning works

You will learn: the earning formula, what counts as a net purchase and how quickly points land.

Points are calculated by multiplying the earn rate for your card by your net purchases, on a daily basis [1]. Net purchases are purchases of goods or services charged to the account, less refunds and adjustments [1]. Cash advances, interest charges, fees, credit or debit adjustments and any amount other than purchases charged to the account with the card or cheques do not qualify, and BMO may establish other qualifying and non-qualifying transactions from time to time [1]. If a statement shows more refunds than purchases, points are deducted from the accumulated balance or from points to be issued in future, calculated on the same basis [1].

BMO may offer bonus points for purchases at designated merchants or merchant types, with additional terms possibly applying [1]. Where a card carries an annual fee, a welcome bonus is cancelled if the card is cancelled within 30 days of the fee being billed and the fee is refunded; on a no-fee card, or where the annual fee is waived, it is cancelled if the card is cancelled within 30 days of account opening [1]. Points earned daily transfer to the points account automatically, typically reflected as soon as the next business day, except when the account is not in good standing or is closed [1]. BMO may cancel or reverse improperly issued points, and may refuse or withdraw points where it believes a breach of the cardholder agreement has occurred [1].

Go deeper: Canadian card points earning rates compared and Earning rate.

Step 4: How to use points

You will learn: who may redeem, the main redemption routes and the limits attached to each.

Points can only be redeemed by the primary cardholder, or a person authorised by the primary cardholder to give BMO instructions and obtain information about the points account, and the account must be in good standing — not cancelled, past due or otherwise in default [1]. For travel, the cardholder books through any travel provider of choice using the primary BMO credit card and then uses Pay with Points on eligible travel purchases made at merchants classified as airlines, car rental agencies, hotels and resorts, cruise lines, vacation packages, eligible vacation rentals, passenger railways, timeshares, travel agencies and tour operators [1]. With Pay with Points, points are redeemed up to the full amount of the eligible purchase or the cash value of the points, whichever is less; only the primary cardholder is authorised to log into the BMO Rewards account and redeem; the redemption is reflected in the BMO Rewards account as soon as the next business day and appears, on a monthly basis, as a credit on the monthly statement, and redemptions do not count towards the monthly minimum payment [1].

For a merchandise reward other than a gift card, at least 80% of the required points must already be accumulated, with the shortfall topped up by purchasing points on the card; gift cards cannot be topped up [1]. Redeem at Retailers lets points be used at checkout with pre-determined online retailers through the BMO Rewards website or mobile application, subject to each retailer's own policies [1]. Points can also be redeemed for financial rewards and charity donations, with bmorewards.com giving the minimum points required [1]. Points Gifting sends points to another member who has a BMO Rewards credit card using their last name and collector number, with a minimum of 1,000 points; gifted points cannot be returned and appear as a redemption on the sender's account [1]. Online redemptions for merchandise, financial rewards or charity donations are free, while phone orders for merchandise and financial rewards carry a $7.50 fee plus applicable taxes [1]. Unopened merchandise rewards may be returned if BMO Rewards is contacted within 14 calendar days of delivery; items must come back unopened with original packaging, manuals, cords and accessories, and opened items or items listed as non-returnable on bmorewards.com cannot be returned [1].

Go deeper: BMO Rewards travel redemption, Canadian card points redemption options compared and Pay with Points.

Step 5: Keeping points: no tiers, closing an account and changes

You will learn: what happens to points over time, on cancellation and when the programme rules change.

The terms describe no status tiers, so the rules that matter to a beginner are expiry, cancellation and amendments [1]. Points do not expire as long as the account remains open and in good standing, except as described for termination of the programme [1]. Upon cancellation of the account there are 90 days either to redeem points for merchandise and gift cards only, or to reinstate them by reinstating the account or opening a new BMO account that uses BMO Rewards and linking the old points account to it; after 90 days, points that are not reinstated expire [1]. On the death of the primary cardholder, points may be redeemed by the beneficiary designated in writing by the estate trustee or executor, and BMO may request additional documentation; points are not divisible in case of separation or divorce [1]. Tax liability arising from accruing or redeeming points, or from receiving a reward, is the cardholder's responsibility [1].

For cardholders residing outside Quebec, BMO may change any reward, the points required for a reward and the earn rate, may cancel, change or substitute rewards with or without notice, may introduce or change fees and may change the terms [1]. For cardholders residing within Quebec, rewards and the points required for them may be cancelled, changed or substituted at any time with or without notice, while other matters, including the earn rate and fees, may change on at least 60 days' but not more than 90 days' notice [1]. BMO reserves the right to terminate the programme with two months' prior notice, during which it may cancel, change or substitute some or all rewards, and the right to earn and redeem points ends at the close of that notice period [1].

Go deeper: Canadian card points expiry compared, Transferable points when closing a card and Card points expiry.

Step 6: Your first concrete action

You will learn: the five moves that set up your account and protect your balance.

1. Log into BMO Online Banking, open the rewards tab and write down your collector number, then read the BMO Rewards Terms and Conditions [1].
2. Keep the account in good standing, because redemption requires it [1].
3. For travel, pay with your primary BMO credit card at an eligible travel merchant, then redeem with Pay with Points at bmorewards.com, remembering that credits do not count towards the minimum payment [1].
4. Redeem online rather than by phone to avoid the $7.50 telephone redemption fee on merchandise and financial rewards [1].
5. Before cancelling the card, plan to redeem or reinstate within the 90-day window [1].

Next: read the BMO Rewards programme hub for every page grouped by task, then the BMO Rewards travel redemption guide.