What the Card Offers
BMO markets the Blue Rewards Mastercard (formerly AIR MILES) as a no-fee card with "10x the points" at partners, "2x" on groceries, gas, EV charging, wholesale and alcohol, and 20,000 bonus points.
- $0
No annual fee1
No annual fee.
- 5 per $1
Blue Rewards partners2
5 Blue Points per dollar at participating partners, on up to $15,000 a year.
- 1 per $1
Groceries, gas, wholesale, alcohol3
1 point per dollar on up to $500 per category each statement period.
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- 20,000
Welcome bonus points4
20,000 Blue Points after $1,500 in purchases in the first 110 days.
Benefits as advertised by the issuer. The conditions attached to them are in the Fine Print Report below.
Sources (4)
- BMO Blue Rewards Mastercard product page (retrieved 2026-10-18)
- BMO Blue Rewards Mastercard product page, footnote 7A (retrieved 2026-10-18)
- BMO Blue Rewards Mastercard product page, footnote 72A (retrieved 2026-10-18)
- BMO Blue Rewards Mastercard product page, footnote ‡ (retrieved 2026-10-18)
Points & Redemption
Rates: BMO Blue Rewards World Elite Mastercard product page and footnote † (retrieved 2026-10-18); Blue Rewards Program Terms, Points use terms and conditions (bluerewards.ca, valid as of September 14, 2026). The CardTruth estimate is our own valuation, not a rate stated in the terms. It assumes the redemption described above; most other options return less.
The Fine Print Report
Light fine print, but low value outside partner stores.
"10x" = 5 pts/$; "2x" = 1 pt/$Impact level: Medium
"10x" and "2x" are multiples of a 0.5-point base: 5 points and 1 point per dollar
The base rate is 0.5 points per dollar. "10x" at partners is 5 points per dollar (on up to $15,000 a year), and "2x" on groceries, gas, wholesale and alcohol is 1 point per dollar on the first $500 per category per statement period. At 1,500 points per $10, that's about 3.3%, 0.67% and 0.33% back.
Why it matters: Outside partner stores, the card returns well under 1%.
1,500 pts = $10 only in-store or eGiftImpact level: Medium
1,500 points = $10 only in store or on eGift cards; other redemptions use rates BMO sets separately
The 1,500-points-per-$10 rate applies to in-store purchases at participating partners and eGift cards, with a $750 daily limit. Travel and merchandise use separate redemption rates, and the program terms say points have no cash value.
Why it matters: Value the points at about 0.67 cents each, and only if you shop at the participating brands.
2.5% FX fee; refunds credited at a lower rateImpact level: Medium
Foreign currency purchases cost 2.5% extra, and refunds come back at a lower rate
Purchases in a foreign currency are converted at the network's rate plus 2.50%. Refunds are converted at the network's rate minus 2.50% on the day the refund posts, and BMO's agreement says the credit will in most cases be less than the original charge.
Why it matters: Every $1,000 spent in a foreign currency costs about $25 in fees, and a returned foreign purchase costs about the same again.
2 missed payments: 25.99% for a yearImpact level: Medium
Two missed payments in 12 months raise your rates to 25.99% and 27.99% for at least a year
If you miss your minimum payment and haven't paid it by the time the next statement is prepared, twice in any 12-month period, your rates rise to 25.99% on purchases and 27.99% on cash advances and balance transfers, for at least 12 months.
Why it matters: If you ever carry a balance, two late payments make it far more expensive. Automatic minimum payments avoid this.
Closure: BMO can take your depositsImpact level: Medium
BMO can close the account without notice, demand the full balance and take it from your BMO deposits
BMO may cancel your card or close the account at any time without telling you in advance. The total debt is then due immediately, and if you don't pay it, BMO may apply any money you have on deposit with it or its affiliates against the balance.
Why it matters: If your chequing or savings account is also at BMO, an unpaid balance can be taken from it directly.
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Points cancelled after 24 months idleImpact level: Low
Blue Points can be cancelled after 24 months without activity
Outside Quebec, if no points are added to or used from your account for 24 consecutive months, the program can cancel them without notice. BMO can also leave the program at any time without notice.
Why it matters: If you stop using the card, redeem your balance.
No travel insuranceImpact level: Low
Only purchase protection and extended warranty; no travel insurance
The card's insurance covers theft or damage for 90 days after purchase and extends manufacturers' warranties by up to a year.
Why it matters: If you travel, you'll need separate travel insurance.
Who This Card Is For
Great fit if you...
- Shop often at Blue Rewards partners
- Want a no-fee card
- Collected AIR MILES before
Consider alternatives if you...
- Want a strong rate on everyday spending
- Want cash back
- Want travel insurance
Welcome Bonus History
BMO Blue Rewards Mastercard Welcome Bonus History
The Verdict
The Blue Rewards Mastercard is a no-fee way to collect Blue Points, with a useful rate at participating partners.
Its base rate is 0.5 points per dollar, about 0.33% back, and the "10x" and "2x" labels are multiples of that low base.
The Recommendation: Only worthwhile if most of your spending is at Blue Rewards partners.
Before you apply: This teardown is general information, not financial, legal or insurance advice, and reflects the issuer's documents as of October 2026. Terms, rates, fees and offers change, and the issuer's own agreement, disclosure statement, insurance certificates and program terms are what govern your card. Read them in full and confirm details with the issuer before you apply. Full disclaimer