Students BMO AIR MILES Mastercard Is Discontinued: Blue Rewards and 3 No-Fee Student Alternatives

BMO no longer offers the Students – BMO AIR MILES Mastercard, so you cannot apply for it today. BMO took the student AIR MILES card off its student credit card page in late summer 2025, and the card’s old web page now sends visitors to BMO’s list of all cards. When BMO replaced AIR MILES with its own Blue Rewards program on June 2, 2026, it launched two Blue Rewards Mastercards for the general public, but no student version. As of October 2026, BMO’s only student credit card is the Student BMO CashBack Mastercard.

If you came here because you wanted to collect AIR MILES (now Blue Points) while you are in school, this guide explains what changed, what happens if you already hold the student card, whether a non-student Blue Rewards card makes sense for you, and which no-fee cards are the best replacements for a student today.

What the Students – BMO AIR MILES Mastercard offered

The student AIR MILES card was a no-annual-fee Mastercard for post-secondary students. Its appeal was simple: you earned AIR MILES on everyday spending such as groceries, gas and online shopping, and you could redeem them for travel, merchandise or in-store rewards at partners. Like other student cards, it also helped you start a Canadian credit history with a big bank.

BMO sold it alongside the Student BMO CashBack Mastercard. By the end of September 2025, the AIR MILES version was gone from BMO’s student page, and only the cash back card was left. That is still the case in October 2026.

From AIR MILES to Blue Rewards: what changed in 2026

For years, BMO was the main bank partner of the AIR MILES program. In 2026, BMO moved its cardholders to its own loyalty program, called Blue Rewards. Here is what that means in practice:

• New program, new points. AIR MILES Reward Miles held through BMO were converted to Blue Points. BMO says the conversion happened with no loss of value.
• New card names. The adult BMO AIR MILES Mastercard became the BMO Blue Rewards Mastercard, with no annual fee. The BMO AIR MILES World Elite Mastercard was replaced by the BMO Blue Rewards World Elite Mastercard, which has a $150 annual fee.
• Point value. BMO says 1,500 Blue Points are worth $10 when redeemed in store or for eGift Cards. Other types of redemption, such as travel, follow their own rules and rates.
• No student card in the new lineup. BMO’s Blue Rewards launch announcement listed the two personal Mastercards plus business and commercial cards. There was no student Blue Rewards card, and none appears on BMO’s site today.

Already have the student AIR MILES card? What to know

If you opened a Students – BMO AIR MILES Mastercard before it was withdrawn, you do not need to do anything to keep using it. BMO’s Blue Rewards FAQ says existing BMO AIR MILES credit cards keep working as usual, with no interruptions, and that your physical card and card number do not change. Your Miles were converted to Blue Points automatically.

BMO’s notice covers its AIR MILES credit cards in general and does not mention the student card by name. To see exactly how your account now earns, check your BMO app or statement, or call the number on the back of your card. If your rewards now fit you poorly, ask BMO whether you can switch your account to the Student BMO CashBack Mastercard. A product switch with the same bank usually keeps your account history, which helps your credit file, but BMO decides what it can offer.

Can a student get the BMO Blue Rewards Mastercard instead?

The no-fee BMO Blue Rewards Mastercard is not a student card, but nothing on BMO’s page says students cannot apply. You go through a standard credit review. BMO lists these requirements:

• Be a Canadian citizen or permanent resident.
• Not have declared bankruptcy in the past seven years.
• Have reached the age of majority in your province (18 in Alberta, Manitoba, Ontario, Prince Edward Island, Quebec and Saskatchewan, 19 elsewhere).
• Meet BMO’s minimum income requirements. BMO does not show the figure on the card page, so check before you apply.

Key facts from BMO’s page in October 2026:

• Annual fee: $0
• Interest rates: 21.99% on purchases (21.99% for Quebec residents) and 23.99% on cash advances
• Earn rate: 5 Blue Points per $1 at participating Blue Rewards Partners (including travel booked through Blue Rewards Travel), 1 Point per $1 on groceries, gas, electric vehicle charging, wholesale and alcohol purchases, and 0.5 Points per $1 on everything else.

Is it worth it for a student? Do the maths first. At BMO’s in-store value of 1,500 Points for $10, one Point is worth about 0.67 cents. That makes the grocery rate worth roughly 0.67% back and the base rate about 0.33% back. The Student BMO CashBack Mastercard pays 3% cash back on groceries, up to a monthly spending limit. Unless you do a lot of shopping at Blue Rewards partners, a typical student budget earns more with cash back. The Blue Rewards card makes most sense if you already collect Blue Points and want everything in one balance.

3 no-fee alternatives for students in Canada

We checked every rate and earn figure below on the issuer’s website in October 2026.

1. Student BMO CashBack Mastercard: BMO’s current student card

Best for: students who wanted a BMO card and buy their own groceries.

This is the card BMO kept when it dropped the student AIR MILES version. It is built for students and is generally easier to qualify for than BMO’s regular cards.

• Annual fee: $0
• Interest rates: 21.99% on purchases (21.99% for Quebec residents), 23.99% on cash advances
• Cash back: 3% on groceries, 1% on recurring bill payments such as your phone plan, streaming and subscriptions, and 0.5% on everything else. On BMO’s CashBack Mastercard, the 3% grocery rate applies to up to $500 spent per statement period.
• Redemption: any time from $1, into a BMO chequing, savings or InvestorLine account or as a statement credit. You can also set up automatic deposits.
• Eligibility: a student aged 18 to 24 at a recognized post-secondary school, a Canadian citizen or permanent resident (international students can apply at a branch), at the age of majority in your province, with some income from work, a scholarship or grant, a student loan or a family allowance.

Drawback: you earn cash, not travel points, and the 0.5% base rate is low on spending outside groceries and bills. Read our full guide to the BMO CashBack Mastercard.

2. Tangerine Money-Back Credit Card: pick your own 2% categories

Best for: working students who spend most of their money in a few categories.

• Annual fee: $0
• Interest rates: 20.95% on purchases, 22.95% on cash advances
• Cash back: 2% in up to three categories you choose (the third requires having your rewards paid into a Tangerine Savings Account), and 0.5% on everything else. Categories include groceries, restaurants, gas, recurring bills, entertainment and transportation, and you can change them every 90 days.
• Income requirement: gross annual income of $12,000 or more.
• Welcome offer: 10% cash back for your first 2 months (up to $100), for applications made by November 30, 2026.

Drawback: it is not a student card, so you need the $12,000 income and a standard credit check. It charges a 2.50% foreign currency conversion fee. Read our full guide to the Tangerine Money-Back Credit Card.

3. Neo Mastercard: for students with little or no credit history

Best for: students who have never had credit or may not qualify for a bank card yet.

• Annual fee: $0 on the Neo Mastercard – Student, according to Neo’s student page.
• Interest rates: 19.99% to 29.99% on purchases and 22.99% to 31.99% on cash advances (19.99% to 24.99% on purchases in Quebec), based on Neo’s assessment of your application.
• Who can apply: Neo accepts applicants with any credit history or income, with either a regular card or a secured card. The secured option needs refundable security funds and a Build membership at $9.99 a month.
• Rewards: cashback at Neo partner merchants, plus Campus Cashback at select food spots on or near participating campuses.
• Credit reporting: Neo reports to both Equifax and TransUnion.

Drawback: your interest rate could be much higher than a big-bank student card, and partner rewards depend on where you shop. Read our full guide to the Neo Mastercard.

SEE THE BMO CASHBACK GUIDE

Comparison: the old student AIR MILES card and today’s options

How to choose your student credit card

• Points or cash? If you only wanted AIR MILES for the rewards, compare the real value. On a student budget, simple cash back on groceries and bills usually pays more than points.
• Check the eligibility rules. BMO’s student card is for students aged 18 to 24. Tangerine asks for $12,000 in income. Neo accepts any credit history.
• Status in Canada. BMO’s online applications are for Canadian citizens and permanent residents. International students can apply for a BMO card at a branch, and should check each issuer’s residency rules before applying.
• Interest matters more than rewards. Every card here charges about 20% or more on purchases. Pay your full balance each month, or the interest will cancel out any rewards.
• Foreign currency fees. If you study or travel abroad, check each card’s conversion fee before you use it outside Canada.
• Build credit carefully. Keep your balance well below your limit and always pay on time. Your first card is mainly a tool to start a good credit file with Equifax and TransUnion.
• Quebec residents. Some issuers set different rates in Quebec. Neo’s Quebec purchase rate, for example, tops out lower than in other provinces, so check the Quebec-specific terms when you apply.

Frequently asked questions

Can I still apply for the Students – BMO AIR MILES Mastercard?

No. BMO stopped offering it in late summer 2025, and its old page now redirects to BMO’s list of all cards. The only student card BMO offers today is the Student BMO CashBack Mastercard.

Is there a student version of the BMO Blue Rewards Mastercard?

No. When Blue Rewards launched on June 2, 2026, BMO introduced the BMO Blue Rewards Mastercard and the BMO Blue Rewards World Elite Mastercard. Neither is a student card. Students can apply for the no-fee Blue Rewards Mastercard only if they meet BMO’s standard requirements, including its minimum income.

I still have the student AIR MILES card. Will it stop working?

BMO says its existing AIR MILES credit cards keep working with the same card number, and that Miles were converted to Blue Points with no loss of value. BMO’s notice does not name the student card, so confirm the details for your account in the BMO app or by calling BMO.

What is the closest replacement for a student?

For most students, the Student BMO CashBack Mastercard. It has no annual fee, is designed for students, and earns 3% back on groceries. If you have no credit history at all, the Neo Mastercard is easier to get.