BMO to Acquire Air Miles Reward Program, Pending Approval
By Kate MusgroveMarch 10, 2023
BMO announced today that they are seeking to acquire the Air Miles Reward Program from Loyalty One. After yesterday's news of Loyalty One preparing a bankruptcy filing, this news is a welcome surprise to point collectors, although many are still seeking to redeem their accumulated Air Miles points for fear of an eventual devaluation.
The acquisition is contingent on court approval.
Recent changes and devaluations in rewards programs have made them a less-appealing option for many Canadians in recent years. Some RFD users consider the introduction of an expiry date for Air Miles back in 2016 to be the beginning of a long decline for the Air Miles program.
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Why Air Miles needs more than just a new owner to appeal to customers
CS rep claimed there wasn't anything on my account that should cause this but after placing me on hold claimed the security dept "changed something in the background" that should fix it within 24hrs (narrator voice: It didn't).
Anyone else experiencing this? I have no trouble logging in or any other trouble except when checking out.
Since then I've found that booking flights with AM is not very competitive in term of price and flexibility.
I have since switched to cash miles as I find it a lot more flexible and simpler.
Being captive by dream miles can be a nightmare.
I checked air miles and apparently they had switched to market price for a while
What's the point of flying in the front of the bus in "lie flat seats" across the Atlantic, etc. if you arrive worn out from a full day of travelling? (Never mind the several hours of time it takes to get to the airport and wait before the flight, etc.?)
Perhaps this works for you. Perhaps you fly enough to have status, etc. But for me, it makes my AP points next to useless.
Now, the points required is adjusted based on "market fare".
(I usually use my AM at Shell/Metro only when it gives some BAM back, but yes I worry about devaluation and think I should spend them ASAP ...)
Managed to redeem $50 out of my cash miles.
Still have ~70 cash miles and 45 dream miles.
Now just wait and see.
Are you sure you didn’t unlink already, after the 150 BAMs from the promo posted?
anyone else able to successfully unlink theirs?
I dont have Shell near me so that's why I piled up a bunch of points. Just finished using it up on eVouchers now and one tank of gas when I went out on the weekend.
Hence why I dropped my card, though hindsight I should have just product switched to a no-fee AM card to keep my credit card history. Ah well, c'est la vie!
Merchandise will never give you as great a reward.
BMO is putting $160M on the table because they realize the potential profit in AMs. They also have a credit card operation to protect. They have to realize that people are already looking to bail on AMs. If they devalue too quickly and/or too much they'll just cause the equivalent of a run on the bank [of undeemed AMs.] If that happens then their $160M investment will get devalued even faster than any devaluation of AMs. So while I expect devaluation, I don't expect it to happen very soon.
Consider too the precedent with AC's purchase of AP: Air Canada moves ahead with plan to take over Aeroplan for $450MThat's a lot of money. Banks wouldn't spend it if they didn't expect a massive payback.
Then again: We all know how well Cal kept that promise.
https://forums.redflagdeals.com/air-mil ... #p37381348
I have another question.
How many time I can redeem 95 to get the 10 bonus per day for Go+ members? The T&C only says max 10 bonus per transaction. Base on the T&C, max I can redeem six times per day. It is the daily limit of $60 AM redemption. Am I correct? Thanks.
Yes, I forgot about that. It's not an issue with keeping a loyalty account alive because you only need to add points to it once a year or so.
The next screen asks you to choose pay inside or pay at the pump, choose pump.
Enter the pump number in.
Then it asks you to choose several options like payment type, and at the bottom of the list (of about 4 options), it shows the option to use your cash miles.
It wont automatically use them, you have to click it, then the next screen lets you choose how much you are willing to redeem (up to $60).
Then proceed as normal till it tells you to start pumping.
Once done, look at the receipt, it should confirm that miles were used and show the credit on the receipt. You should see your credit card just charged for the balance.
Hope that helps, and I use Android, not that it should matter.
NOTE - for anyone considering eRewards
They are great for other programs offering surveys for many Programs that don’t (or didn’t) have a lot of ways to earn points to keep accounts active … such as Airlines & Hotels
Not so great for Airmiles
Cuz as @bylo pointed out in a previous post (Reply # 437) … it’s not a direct process of do a survey … and see airmiles immediately POSTED like it is for Rewarding Your Opinions
eRewards is a cumulative situation …
Where you earn points … but they accumulate
You can only transfer then over to whichever Reward Program you choose … ONCE you’ve met significant points balances to do so