This is the no-fee entry point to Blue Rewards, the program that replaced AIR MILES at BMO. The pitch is the partner network: 5 points per $1 at Blue Rewards Partners such as Dollarama, Instacart, Pharmasave, Fairmont and trips booked through Blue Rewards Travel, which works out to about 3.3% at BMO's in-store rate.
Outside that network, I'd be blunt: 1 point per $1 on groceries and gas is about 0.67%, and the 0.5 point base is about 0.33%, both low for a no-fee card. I'd only consider it if a good share of your spending already lands at partners, or as a no-fee way to start collecting Blue Rewards.
Welcome offer
BMO is offering 20,000 Bonus Points on the Blue Rewards Mastercard, verified on the BMO page on October 13, 2026. The points are earned with $1,500 in net purchases in the first 110 days and are credited up to 8 weeks after you meet the spend. Applications must be received by October 31, 2027.
At BMO's in-store and eGift Card rate of 1,500 points = $10, the bonus works out to about $133. The offer also includes a 0.99% introductory rate on balance transfers for 9 months with a 2% fee. It is closed to current or former Blue Rewards Mastercard cardholders and to existing BMO cardholders switching in, and the points may be cancelled if the card is closed within 365 days.
The $1,500 target in 110 days is about $410 a month, which most households reach with groceries and gas alone. Shopping at Blue Rewards Partners during that window helps twice, since partner purchases also earn 5 points per $1.
Fees & eligibility
The card has a $0 annual fee, and an extra cardholder is free. There is no published minimum income on the BMO page, only a note that applicants must meet BMO's income requirements.
Purchases carry 21.99% interest and cash advances and balance transfers 23.99% (21.99% in Quebec). Two missed minimum payments in 12 months raise the rates to 25.99% and 27.99% for at least a year. Foreign currency purchases cost 2.5% on top of the network rate. Points only come out ahead when the balance is paid in full every month.
Earning rewards
The card earns at three levels. Purchases at participating Blue Rewards Partners earn 5 points per $1, on up to $15,000 of combined partner spending per calendar year. Groceries, gas and EV charging, wholesale clubs and alcohol earn 1 point per $1 on the first $500 in each category per statement cycle. Everything else earns 0.5 point per $1.
BMO markets these as 10x and 2x the base rate. At 0.67 cents per point (cpp), the in-store and eGift Card value, they work out to about 3.3%, 0.67% and 0.33%. The accelerator categories only count at merchants in Canada with the matching Mastercard codes (for example MCC 5411 for groceries and MCC 5300 for wholesale clubs).
Redeeming rewards
BMO's stated rate is 1,500 Blue Points = $10 when redeemed in store at participating partners or toward eGift Cards, which is 0.67 cpp. Over 400 brands are available, including Amazon, Apple, Dyson and Ninja, and standard daily usage limits apply to in-store and eGift Card redemptions.
For travel, Blue Rewards Travel (powered by Expedia) lets you cover a whole trip with points, including taxes and fees, or use any amount of points alongside the card (cruises and pay-at-property fees excluded). BMO does not print a fixed points value for travel, so compare the price in points against the cash price before booking.
Perks & benefits
The perks are light. The most useful is three months of Instacart+ with a $5 monthly Instacart credit on one order of $50 or more each month the membership stays active; after the free months, the credit requires a paid Instacart+ membership. Linking the card to your Blue Rewards membership also unlocks Blue Rewards card offers at participating brands.
The rest are discounts: up to 30% off Avis and 35% off Budget when you prepay, up to 20% off National and Alamo and 5% off Enterprise, and 20% off Cirque du Soleil shows in Canada. BMO lists roadside assistance among benefits you can add on. There is no lounge access, no travel credit and no foreign fee waiver.
Insurance
Insurance is limited to purchases. Items bought with the card are covered against theft or damage for 90 days, and the manufacturer's warranty is extended by up to 1 extra year, with a $60,000 lifetime maximum per account across both. The coverage is underwritten by CUMIS and secondary to any other insurance you hold.
There is no travel insurance: no emergency medical, no trip cancellation, no flight or baggage delay and no rental car cover. The Blue Rewards World Elite is the BMO card in this family that adds a travel package.
My take
I'd get this card if you already spend at Blue Rewards Partners and want a no-fee way to collect points there; if most of your spending happens elsewhere, I'd skip it.
What I like is the partner rate. Five points per $1 at stores like Dollarama, Pharmasave and Instacart, and on trips booked through Blue Rewards Travel, is about 3.3% at BMO's own rate, which is strong for a card with no fee. The 20,000-point welcome bonus for $1,500 of spending is also easy to reach.
The problem is everything else. I think 0.67% on groceries and gas and 0.33% on the rest is too low to make this anyone's main card, there is no travel insurance and there is a 2.5% FX fee. If you qualify for the Blue Rewards World Elite, its rates are double and it adds travel cover, which is worth weighing against its $150 fee.
The good
- 5 points per $1 at Blue Rewards Partners with no annual fee
- 20,000 bonus points for a modest $1,500 spend
- Flexible redemptions at 400+ brands and on Expedia-powered travel
The catch
- Only 0.5 point per $1 (about 0.33%) outside the categories
- Points are worth 0.67 cpp in store, so 1x is about 0.67%
- No travel insurance and a 2.5% FX fee