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About the BMO Eclipse Visa Infinite* Card
The BMO Eclipse Visa Infinite* Card is a rewards credit card that offers a decent earn rate in top spending categories. How it works: Earn 5x the BMO Rewards points on groceries, dining, gas and transit*, and 1 point per $1 on everything else*. Rack up 10% more points easily by adding an additional card to your account ($50 per authorized user)*. Everyday earning aside, the welcome bonus allows you to get up to 60,000* points (worth approx. $400 in travel rewards) plus a first-year annual fee waiver (worth: $120)*.
So, if you spend $12,000 annually on groceries and dining out, $1,200 on gas per year, and $6,000 on everything else, that would fetch you 72,000 points – worth up to approximately $480. Combined with the welcome offer of up to 60,000* points* (spending thresholds apply) and $50 annual lifestyle credit*, that would yield up to approximately $930 in BMO Rewards points. Add in the first-year annual fee waiver (worth $120), and this card has a value of approximately up to $1,050. Whoa.
As for the BMO Rewards points program – it’s extremely flexible, and points can be redeemed hassle-free for travel, merchandise, or gift cards. Alternatively, you can opt for the Pay with Points program – which allows you to redeem points for virtually anything charged to your card, with redemptions starting at only $1. You can even apply BMO Rewards points as a cash deposit into a BMO investment account.
Extra benefits of the BMO eclipse Visa Infinite* Card include mobile device insurance that covers you up to $1,000*, limited travel and car rental insurance, purchase assurance and extended warranty, and Visa Infinite perks. Not too shabby for an annual fee of $120 (which is waived the first year)*.
Card features and benefits
This card has generous earn rates in major spending categories, which are extra enticing due to the redemption flexibility of BMO Rewards points. The Pay with Points program, in particular, adds ease and value, allowing you to redeem for virtually anything.
- Robust earn rates: Earn 5x the BMO Rewards points on groceries, dining, gas and transit*, and 1 point per $1 on everything else*.
- Lucrative welcome offer: Get up to 60,000 points worth $400 in travel rewards, a $50 lifestyle credit and the $120 annual fee waived in the first year - that's a $570 value in your first year*.
- Broad spending categories: There are a lot of opportunities to earn with this card. The dining category includes restaurants, cafes, bars and nightclubs, food boxes like HelloFresh, and food delivery services like UberEats. Grocery purchases can be made at supermarkets, liquor stores, convenience stores, and markets. Gas and transit spends include gas stations, taxis, public transportation, and toll roads.
- Flexible, easy redemption: BMO Rewards points can be redeemed for travel, merchandise, gift cards, cash against your bill, or for virtually any purchase in the Pay with Points program at bmorewards.com. You can also redeem points as a cash deposit into a BMO investment account.
- Extra earning potential: Earn 10% more BMO Rewards points by adding an additional card for an authorized user*.
The BMO eclipse Visa Infinite* Card bundles in some good benefits and extras.
- Insurance coverage*: The BMO eclipse Visa Infinite* Card includes emergency medical, common carrier, and car rental collision/loss damage coverage. You’ll also get extended warranty/purchase security insurance.
- Mobile device insurance*: Cardholders are covered for up to $1,000 for their new mobile devices.
- Annual $50 lifestyle credit*: In a unique move, the BMO eclipse Visa Infinite* Card returns an annual $50 “lifestyle credit” to be spent however you want. Think of it as mad money, courtesy of BMO.
- Visa Infinite perks*: Visa Infinite cardholders enjoy exclusive access to special events, entertainment, and privileges. These include Visa Infinite Dining Services, Entertainment Access, Luxury Hotel Collection, Wine Country, Troon Golf Benefit, and 24/7 Concierge.
Pros and cons
The BMO Eclipse Visa Infinite* Card nets you lots of points in top spending categories and some really valuable extras like mobile device protection. The inclusion of a “lifestyle credit” is a slick way to signal that these cards are for people who want to treat themselves, and Visa Infinite privileges give cardholders a great place to start. The annual fee is standard for a card in its class, and the welcome bonus with the first-year annual fee waiver makes this a risk-free card to try.
That said, this card isn’t for everyone. The annual income requirement is a Minimum $60,000 (individual) or $100,000 (household), which may be out of reach for some Canadians. The travel insurance is limited, as it doesn’t include the all-important trip cancellation insurance. Also, while BMO Rewards points are flexible and more valuable than ever with the Pay with Points program, redemption is not instant or automatic. Cardholders still have to log in to BMOrewards.com to apply their points to a card purchase.
- Excellent welcome offer: Get up to 60,000 points worth $400 in travel rewards, a $50 lifestyle credit and the $120 annual fee waived in the first year – that's a $570 value in your first year*.
- Good earn rate in top spending categories
- First year annual fee waiver* (Value: $120)
- Includes new mobile device insurance: Up to $1,000 in coverage**
- Annual $50 lifestyle credit to spend however you like*
- Includes comprehensive travel insurance
- Access to exclusive Visa Infinite benefits
- High minimum annual income: Minimum $60,000 (individual) or $100,000 (household)
- Insurance doesn't include trip cancellation coverage
How the BMO Eclipse Visa Infinite* Card compares
When it comes to rewards cards in this category, people are usually looking for the best earn rate and the most extras and benefits. At $120 (first-year annual fee waiver)* annually, a card has to justify that expense. The BMO eclipse Visa Infinite* Card does a good job with the earn rate and has flexible points, but when it comes to the extras, there are stronger contenders.
The American Express Cobalt® Card
In your first year as a new Cobalt® Cardmember, you can earn 2,500 Membership Rewards® points for each monthly billing period in which you spend $500 in purchases on your Card. This could add up to 30,000 points in a year. That’s up to $300 towards a weekend getaway or concert tickets. Terms and conditions apply.
For example, the American Express Cobalt® Card charges a $155.88 ($12.99 monthly fee) annual fee, but it doesn’t offer a first-year annual fee waiver. However, it offers a more comprehensive travel insurance portfolio that includes more types of insurance – from travel accidents to flight or baggage delays and lost/stolen baggage. Both cards have fairly extensive membership perks, so your decision may well hinge on whether you prefer the membership offerings of Visa or American Express.
The American Express Cobalt® Card attempts to lure in new cardmembers with its tempting welcome offer--Earn up to 30,000 Membership Rewards® points in the first year (conditions apply). In contrast, the BMO eclipse Visa Infinite* Card offers a welcome bonus of 60,000* BMO Rewards points (worth approximately up to $400 in travel) plus a first-year annual fee waiver (worth $120)*.
The two cards have very similar earning structures. The American Express Cobalt® Card has a fairly generous earn rate: Get 5 points per $1 spent on eligible food and drink in Canada, including groceries and food delivery, 3 points per $1 spent on streaming services, 2 points per $1 on spent gas and transit like buses or taxicabs, 1 point per $1 spent on everything else, and 1 additional Membership Rewards® point for every $1 spent as a charge on your Express Cobalt® Card on any eligible hotel or any car rental bookings made through American Express Travel. The BMO eclipse Visa Infinite* Card has slightly broader categories: Earn 5x the BMO Rewards points on groceries, dining, gas and transit*, and 1 point per $1 on everything else*. However, it takes 100 points to redeem $1 in travel with American Express Membership Rewards. It takes 150 points to get $1 in travel with BMO Rewards. The earn rates are similar, but the value per point with American Express is higher.
Both credit cards in your wallet are an asset. That way, you’ll never lose out on the opportunity to earn points when you’re at the checkout counter.
|Features||BMO Eclipse Visa Infinite* Card||American Express Cobalt® Card|
|Welcome offer||60,000* BMO Rewards points*||Earn up to 30,000 Membership Rewards® points in the first year (conditions apply)|
|Annual fee||$120 (first-year annual fee waiver)*||$155.88 ($12.99 monthly fee)|
|Travel insurance||Up to $5M in out-of-province or country emergency medical insurance, common carrier, and car rental collision/loss damage coverage*||Out of province/country emergency medical insurance (for under age 65), $250,000 travel accident, flight delay, baggage delay, hotel burglary, lost or stolen baggage, and car rental theft and damage coverage|
|New mobile device insurance||Yes||Yes|
|Membership||Visa Infinite* with perks like Visa Infinite Dining Services, Entertainment Access, Luxury Hotel Collection, Wine Country, Troon Golf Benefit and 24/7 Concierge*||American Express Invites with Front of the Line Advanced Access, Reserved Tickets and E-Updates|
|Other perks||$50 annual “lifestyle credit”*; $1,000 in new mobile device insurance*||Up to a $100 USD hotel credit on qualifying hotel amenities, complimentary room upgrade at check-in when booking a hotel through The Hotel Collection|
|More info||Visit site||Visit site|
*Based on card purchases of $12,000 annually on food purchases, $1,200 annually on gas, and $6,000 annually on everything else.
The bottom line
The BMO eclipse Visa Infinite* Card is a solid option for those who want to accumulate rewards points on their everyday purchases and have flexibility with how they use them. The welcome bonus, which includes an annual fee waiver, is tempting and makes this a risk-free proposition. The up to 60,000* bonus points* alone are worth up to approximately $400, and the annual “lifestyle credit” adds another $50 to your pocket*.
While the BMO eclipse Visa Infinite* Card includes mobile device insurance*, it’s a little lean on the other coverage, so it wouldn’t be the best for travel insurance. For those who expect to travel, there are cards with better travel insurance packages. However, if you’re interested in the exclusive events and luxury experiences available in Visa Infinite program*, this card is a ticket in. Ultimately, your choice will depend on your spending habits, and what kinds of perks make the most sense for you.
*Terms and conditions apply.
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