Earn rates
The card earns at three tiers. Travel purchases earn the most, dining and recurring business bills earn at a mid-tier rate, and everything else earns at the base rate. At the portal redemption value of 0.67 cents per point, the effective return on each tier is straightforward to calculate.
| Spending category | Earn rate | Effective return at 0.67¢/pt |
|---|---|---|
| Eligible travel (flights, hotels, car rentals) | 3x BMO Rewards | ~2.0¢ per dollar |
| Dining and recurring bill payments | 1.5x BMO Rewards | ~1.0¢ per dollar |
| Everything else | 1x BMO Rewards | ~0.67¢ per dollar |
Effective return calculated at the BMO Rewards portal travel redemption rate of 0.67 cents per point. Always verify current earn rates and redemption values directly with BMO before applying.
How BMO Rewards redemptions work
BMO Rewards points redeem against travel bookings made through the BMO Rewards portal or applied as a statement credit against a travel purchase. The fixed rate of 0.67 cents per point applies to travel redemptions. There are no blackout dates, no seat restrictions, and no airline program membership required — you book any available fare and apply points against the cost.
At 0.67 cents per point, 150,000 points equals $1,005 in travel. Compared to programs like Aeroplan or Avion that reward careful redemption planning, BMO Rewards trades maximum upside for consistency and simplicity. Every point is worth exactly the same amount toward any trip.
What your monthly spend earns
| Category | Monthly spend | Rate | Monthly pts |
|---|---|---|---|
| Travel | $375 | 3x | 1,125 pts |
| Dining and recurring bills | $500 | 1.5x | 750 pts |
| All other spending | $1,625 | 1x | 1,625 pts |
| Total | $2,500 | 3,500 pts / mo |
42,000 pts / year (~$281 in BMO Rewards travel, $131 net of $150 fee).
Benefits
| Benefit | Details |
|---|---|
| First year fee waived | The $150 annual fee is waived for the first year. |
| Employee cards | Additional employee cards available on the business account, each earning points that flow to the primary account. |
| BMO Rewards portal | Book any available flight, hotel, or car rental through the portal and apply points against the cost. No seat restrictions or blackout dates. |
| Purchase protection | Coverage for eligible purchases against damage or theft for a set period after purchase. |
| Extended warranty | Extended manufacturer’s warranty on eligible purchases made with the card. |
Travel insurance on the BMO Rewards Business Mastercard
The BMO Rewards Business Mastercard scores 24 of 100 on the figures its certificate publishes, 39th of the 59 Canadian cards compared.
| Emergency medical | 180-day stability window |
|---|---|
| Trip cancellation | $1,500 per person · $5,000 per account |
| Trip interruption | $2,000 per person · $10,000 per account |
| Flight or trip delay | after 4 hours · $500 per trip |
| Baggage delay | $500 per person · after 6 hours |
| Rental car collision or damage | Pays after your own insurance · rentals to 48 days · vehicles to $65,000 |
A booking made with points still qualifies. You have 30 days from the incident to report a claim. Dependent children are covered to age 20.
Every figure from the certificate, with its own wording
| Emergency medical | pre existing stability days: 180 days (applies to the trip cancellation and trip interruption pre-existing medical conditions exclusion, not to any medical expense benefit; three hundred and sixty-five (365) days for insured persons sixty-five (65) years of age or older) |
|---|---|
| Trip cancellation | per person: $1,500 (prepaid, non-refundable, non-transferable travel arrangements charged to the card) per account: $5,000 (per trip for all insured persons combined) covered reasons: Health, Pregnancy, Work, Travel Documents, Legal, Transportation, Environmental, Other (the eight covered reason categories enumerated in section 1.3.4; the full text of the reasons listed under each category exceeds 40 words) |
| Trip interruption | per person: $2,000 (accommodation and meals within this cap are payable up to $200 per day to a maximum of ten (10) days per trip for all insured persons combined) per account: $10,000 (for all insured persons combined on the same trip) |
| Flight or trip delay | trigger hours: 4 hours (delay in the arrival or departure of a regularly scheduled flight on a commercial airline) per trip cap: $500 (reasonable additional accommodation and travelling expenses; prepaid expenses are not covered) |
| Baggage delay | per person: $500 (capped at $2,000 per insured person per calendar year; outbound travel only, purchases must be made within thirty-six (36) hours of arrival) trigger hours: 6 hours (checked baggage delayed by the common carrier) |
| Lost, stolen or damaged baggage | per person: $500 (capped at $1,000 per trip for all insured persons combined; paid at actual cash value) per item sublimit: $500 |
| Travel accident | limit: $500,000 (single largest applicable benefit amount; $250,000 for loss of one hand, one foot or the entire sight of one eye; $1,500,000 aggregate where more than one insured person suffers a loss in the same accident) common carrier only: Yes (full cost of the ticket must be charged to the card) covers 24h: No (coverage period runs during common carrier travel directly to and from the terminal and while at the terminal) |
| Hotel or motel burglary | $1,000 (per burglary occurrence for all insured persons combined; travel accommodation must be charged to the card) |
| Emergency travel assistance | offered: Yes (Operations Centre maintained by Allianz Global Assistance; pre-trip and non-medical emergency assistance services) |
| Rental car collision or damage | is primary: No (stated as secondary to any other insurance plan or source of reimbursement) limit basis: the lesser of, the cost of the repair (including loss-of-use) or the replacement cost of your rental car which has been damaged or stolen (also covers valid rental agency loss-of-use charges and reasonable and customary charges for towing to the nearest available facility) vehicle value cap: $65,000 (Manufacturer’s Suggested Retail Price in the model year) max rental days: 48 days (consecutive days; a full calendar day must exist between rental periods to break the consecutive day cycle) excluded classes: vans (except as defined below), trucks (including pick-ups) or any vehicle that can be spontaneously reconfigured into a pick-up truck, campers or trailers, vehicles towing or propelling trailers or any other object (truncated at the fourth item; the clause continues with off-road vehicles, motorcycles, mopeds or motorbikes, vehicles with an MSRP over $65,000, antique vehicles, recreational vehicles, leased vehicles with buyback guarantee, and limousines) |
| Purchase protection | days: 90 days (coverage ends on the ninety-first (91st) day from the date of purchase; no registration required) |
| Extended warranty | years added: 1 year (doubles the original manufacturer’s warranty up to this maximum extension, expressed in years) cap: $60,000 (overall lifetime maximum per account, combined with purchase security) |
Figures above are from the BMO Business Mastercard Travel Protection Certificate of Insurance, Group Policy FC310000-A, effective 2023-07-06, underwritten by CUMIS General Insurance Company, a member of The Co-operators group of companies. Checked against the certificate for 13 coverage types. Terms change without notice; verify with the issuer before relying on any figure.
BMO Rewards vs. airline program co-branded cards
The core trade-off with BMO Rewards is simplicity versus upside. Points are worth a fixed 0.67 cents on any travel redemption, which means there is no way to get outsized value from a premium cabin transfer. Aeroplan or Avion points can return 2 cents per point or more on business class redemptions, but require understanding partner programs and finding availability.
For a business that values predictability — knowing exactly what accumulated points are worth, no expiry pressure, no program complexity — BMO Rewards delivers a clean, consistent return. For a business actively optimizing for the best redemption value per point, a transferable or co-branded program will typically outperform it on premium travel.
Good fit if
- Your business travels regularly and wants a straightforward travel rewards system with no airline affiliation or redemption complexity.
- You prefer a fixed, predictable point value over managing transfer partner availability and award pricing.
- The first year fee waiver makes it low-risk to evaluate whether BMO Rewards accumulation fits how your business spends.
Not sure this is the card for how you travel? Book a free conversation, or see membership plans for ongoing help.
Less useful if
- You want to maximize redemption value on premium cabin travel — Aeroplan and Avion transfer partners can return significantly more per point on the right redemption.
- You fly a specific carrier exclusively — a co-branded card (Aeroplan, WestJet) earns the airline’s currency directly at higher rates on that carrier.
- You want airport lounge access — the BMO Rewards Business card does not include lounge passes; those belong to the personal BMO Ascend World Elite.