Effective January 15, 2018, we’re making some changes to give you more choice and better value across our range of rewards. The changes are as follows:
BMO World Elite Mastercard Changes:
Earn BMO Rewards points 50% faster!
Get rewarded even sooner. Earn 3 BMO Rewards points for every $1.00 spent on eligible travel, dining and entertainment purchases, up to $50,000 in purchases per year.1, 2
BMO Rewards Mastercard Changes:
Removal of annual card fee
Great news! We are eliminating the annual card fee (currently $35.00).3 Enjoy all the features and benefits of our best-in-class rewards program at no cost.
Discontinuation of Common Carrier insurance
The no-cost insurance coverage for accidental loss of life or injury while travelling on a common carrier will no longer be included as a feature of your card January 15, 2018.4 However, any travel booked before January 15, 2018, will still be covered if the travel is between January 15, 2018, and May 31, 2018. If you are travelling after May 31, 2018, and require Accidental Death and Dismemberment coverage, please make alternative arrangements.
BMO Rewards Changes:
Travel reward changes
The number of BMO Rewards® points needed to redeem5 for $1.00 in travel rewards will be increasing from 100 to 140 points. We understand that receiving full value for your travel rewards is important to you and we are committed to honouring the purchasing power of the BMO Rewards points you’ve already earned. As of January 15, 2018, we will be adding extra points to your BMO Rewards account to offset the impact of this change so you won’t lose the value of your points. This means there’s no rush to redeem your points now.
Improved value of merchandise and gift cards
BMO Rewards is not just about travel. As of January 15, 2018, you’ll be able to redeem for the same great merchandise and gift cards with up to 20% fewer points!
Invest more for your future with BMO financial contributions
We have improved the value you receive when redeeming your points for eligible BMO investment accounts. You’ll be able to invest with 25% fewer points. It has never been more rewarding to invest in what matters to you most.
Coming February 2018! Turn your BMO Rewards points into cash
For the ultimate in flexibility, treat yourself by purchasing whatever you want, wherever you want and use your BMO Rewards points to pay down your credit card balance. Get ready to pay yourself with points!
We appreciate your business and hope you enjoy more rewards flexibility. If you have any questions or would like more information, please see our FAQs below.
- You will earn 3 BMO Rewards points for every $1 in eligible travel, dining and entertainment purchases, up to $50,000 annually (January to December statement cycle period). The 3 BMO Rewards points includes the base earn rate of 2 BMO Rewards points for every $1 in card purchases (“Base Rewards”) and the bonus of 1 BMO Rewards point for every $1 in eligible travel, dining and entertainment purchases (“Bonus Rewards”). To earn Bonus Rewards, your purchases must be made at merchants that are classified in the Mastercard network as: airlines, car rental agencies, hotels/resorts, cruise lines, passenger railways, tour operators, timeshares, travel agencies and tour operators, dining: eating places, restaurants, drinking places, fast food restaurants and entertainment including motion picture theatres, theatrical producers, ticket agencies, bands, orchestras and miscellaneous entertainers, tourist attractions and exhibits, amusement parks, carnivals, circuses, aquariums, dolphinariums, zoos and seaquariums (“Applicable Merchants”). If you exceed $50,000 in combined annual purchases, you will continue to earn the Base Rewards. Some merchants may sell the same or similar products/services as the Applicable Merchants or are separate merchants who are located on the premises of the Applicable Merchants, but are classified by Mastercard in another manner (“Other Merchants”).You will only earn Base Rewards for purchases made at Other Merchants.
- Subject to the BMO Rewards Terms and Conditions, BMO Rewards points are calculated based on purchases of goods or services charged to the BMO World Elite Mastercard account, less any refunds or adjustments, rounded down to the nearest whole point. Cash advances (including purchases of foreign currency or travellers cheques), interest charges, fees, credit or debit adjustments and any amount other than purchases that may be charged to the account with the card, do not qualify for points. Bank of Montreal may establish other qualifying and non-qualifying transactions from time to time.
- Ongoing interest rates, interest-free grace period, annual fees and all other applicable fees are subject to change. Annual fees charged between February 1, 2017 and January 14, 2018 will be refunded in a prorated amount and the refund will be applied to your February 2018 credit card statement. Cash advances include balance transfers, cash-like transactions and Mastercard cheques. Visit your branch; call the Customer Contact Centre at 1-800-263-2263, or visit bmo.com/creditcards for current rates and fees.
- Subject to terms and conditions, including limitations, exclusions and other important information contained in the BMO Common Carrier Certificate of Insurance, which is sent to new cardholders. Insurance benefits provided by Chubb Insurance Company of Canada.
- BMO Rewards redemptions are subject to fees and charges. For details, please see the fees, charges, and pricing policy in the BMO Rewards Terms and Conditions as well as the Important Information about BMO Mastercard cards enclosure.
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