Canadian bank product guide
BMO loyalty value comes from a mix of BMO credit cards, cash back, Blue Rewards, chequing bundles, eligible credit-card fee rebates, and major-bank product breadth.
Quick answer
BMO does not outrank RBC in our overall Canadian bank loyalty ranking, but it can still be a strong choice for Canadians who want simple cash back, BMO Mastercard options, premium rewards cards, or account-and-card bundling.
Planning note: fees, rates, offers, eligibility, account features, and card benefits can change. This page was reviewed on 2026-07-14. Verify current terms on official BMO pages before applying. CanadianBankNews is not affiliated with BMO Bank of Montreal.
Products and fees
| Product | Fee or cost note | Advantages | Watch-outs | Official source |
|---|---|---|---|---|
BMO Blue Rewards Bank loyalty program | Program access depends on eligible BMO products; account and card fees vary. | BMO lists Blue Rewards across card and chequing categories, giving rewards-focused users a Bank of Montreal ecosystem to compare. | Point value depends on earning rules, redemption method, and current terms. | Verify -> |
BMO CashBack Cash back rewards | Card fees and terms vary; verify current BMO terms. | Useful for users who prefer cash-style value over travel points, with BMO listing grocery, recurring bill, and other purchase earn categories on its CashBack Mastercard page. | Cash back earn rates can have caps, exclusions, and merchant-code limitations. | Verify -> |
BMO Performance and Premium account rebates Banking bundle | Monthly account fees apply unless waiver conditions are met. | BMO lists eligible credit-card annual-fee rebates on Performance and Premium chequing plans, which can improve total value for card users. | The rebate only matters if the account fee and balance requirements make sense. | Verify -> |
BMO premium travel and rewards cards Travel rewards | Annual fees and eligibility vary by card. | Can fit users who want premium card benefits, travel features, and rewards in the BMO ecosystem. | Compare against RBC Avion, TD Rewards, CIBC Aventura, Scene+, and Aeroplan cards before paying a premium fee. | Verify -> |
BMO everyday banking and card ecosystem Relationship value | Fees vary by account and card. | A single-bank setup can simplify payments, card management, mortgage payments, and savings transfers. | Convenience is not the same as best value. Compare fees and rewards against competitors. | Verify -> |
BMO is not our No. 1 overall program; RBC Avion remains stronger for broad travel flexibility. BMO is still worth shortlisting for Canadians who want cash back, BMO Mastercard options, Blue Rewards, or account/card bundling inside the Bank of Montreal ecosystem.
BMO can fit cash-back seekers, Mastercard users, households already keeping a BMO chequing balance, and people who want a familiar major-bank rewards setup. Travel maximizers should compare BMO against Avion, Aeroplan, TD Rewards, CIBC Aventura, and Scene+.
BMO is a serious contender in Canadian bank loyalty because it combines BMO credit cards, cash back, Blue Rewards, chequing bundles, and mortgage/investment relationships. In our editorial ranking, RBC remains No. 1 overall for broad Avion flexibility, but BMO can be a better fit for users who want simple cash back, Mastercard options, or a Bank of Montreal relationship.
Mortgage planning
If your BMO product decision is connected to a home purchase, renewal, refinance, or debt consolidation plan, test the numbers first. CanadianBankNews can help you compare affordability, fixed versus variable assumptions, payment changes, and debt-service comfort before speaking with a lender.
RBC is stronger in our overall loyalty ranking because of Avion flexibility, but BMO may be better for users who prefer simple cash back, specific Mastercard options, or BMO banking bundles.
BMO offers rewards and cash-back products, including Blue Rewards and BMO CashBack categories. The value depends on the specific card or account and how you redeem.