BMO eclipse Visa Infinite* Card Review
Welcome offer: get up to 40,000 BMO Rewards Points + first-year annual fee waiver
Annual $50 lifestyle credit to spend however you like
Includes insurance coverage for mobile devices (up to $1,000)
Includes travel emergency medical insurance
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: get 5 points per $1 on dining, groceries, gas and transit purchases, 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 gets you started with up to 40,000 points (worth approx. $266) 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 $511. Combined with the welcome offer of up to 40,000 points and $50 annual lifestyle credit, that would yield up to approximately up to approx. $796 in BMO Rewards points. Add in the first-year annual fee waiver (worth $120) and this card has a value of approximately up to $916. 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 & 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 5 BMO Rewards points per $1 on dining, groceries, gas and transit, and 1 point per $1 on all other card purchases.
- Lucrative welcome offer: New cardholders can receive up to 40,000 BMO Rewards points (worth up to approx. $266). Plus, get a first-year annual fee waiver.
- 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; groceries 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 along with 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 minimum income requirement is $60,000 (or $100,000 for the 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 login to BMOrewards.com to apply their points to a card purchase.
- Excellent welcome offer — Get up to 40,000 BMO points (worth approx. $266)
- Flexible rewards redemption
- 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 annually, a card has to justify that expense. The BMO eclipse Visa Infinite* Card does a good job with the earn rate and for having flexible points but when it comes to the extras, there are stronger contenders out there.
For example, the American Express Cobalt™ Card comes in at the same annual fee (though it’s charged over twelve months at $10), 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 accident to flight or baggage delay and lost/stolen baggage. However, it lacks the increasingly popular mobile device insurance. 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.
For welcome offers, the two cards are pretty close. With the American Express Cobalt™ Card, you can earn up to 30,000 Membership Rewards® points (worth at least $300) in the first year; whereas the BMO eclipse Visa Infinite* Card offers a welcome bonus of 40,000 BMO Rewards points (worth approximately up to $266) plus a first-year annual fee waiver (worth $120).
The two cards have very similar earning structures: with the American Express Cobalt™ Card, you earn 5 Membership Rewards points for every $1 spent at eligible restaurants, bars, cafés, and on food delivery, 2 points per dollar on travel and transit, and 1 point per dollar on everything else. The BMO eclipse Visa Infinite* Card has a slightly broader category with 5 BMO Rewards points per $1 on groceries, dining, gas and transit and 1 point per dollar on everything else. However, it takes 100 points to redeem $1 in travel with American Express Membership Rewards. Whereas 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.
So how do the rewards earn rates compare? Basically, if you spend an average of $12,000 per year on groceries, $1200 per year on gas, and $6,000 on everything else, you’d net roughly $684 in rewards with the American Express Cobalt™ Card. Add in the welcome offer and the first-year value is approximately up to $984.
With the same card spending using the BMO eclipse Visa Infinite* Card, you’d earn approximately up to $480 in BMO Rewards points, but the $50 annual lifestyle credit boosts that to $530. However, the welcome bonus of 40,000 points (worth up to $266) brings the potential first-year rewards earnings up to approximately $796. Then, factor in the first-year annual fee waiver that’s worth $120 — that brings the first-year value to approximately $916. Another consideration: the BMO eclipse Visa Infinite* Card is also accepted at more grocery stores and restaurants.
It’s pretty close, but the American Express Cobalt™ Card edges forward as the winner in terms of value. That being said, having both credit cards in your wallet is an asset. That way, you’ll never lose out on the opportunity to earn points when you’re at the checkout counter.
BMO eclipse Visa Infinite* Card American Express Cobalt™ Card
Potential first-year rewards earnings (includes first year welcome offer) $796* $984* Annual fee $120 (first-year annual fee waiver) $120 ($10 per month) 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 No 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 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 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 40,000 bonus points alone are worth up to approximately $266 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 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.