BMO eclipse Visa Inifite Review 2022
The BMO eclipse Visa Infinite card is a new premium card for high-income earners from BMO. It sets itself apart from the already crowded credit card market by offering unique perks and features that are clearly targeted to millennials but have broad appeal.
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BMO eclipse Visa Infinite Review
BMO refers to the eclipse Visa Infinite as a “lifestyle” credit card. For you, this means it offers lots of reward points on some non-traditional categories that go beyond the usual gas, bills and groceries. For example, it provides points categories focused on restaurants and public transit and rideshares. It also has a transparent and flexible redemption schedule that allows you to redeem your points quickly and easily.
Unfortunately, to get the BMO eclipse Visa Infinite, you will pay a $120 annual fee and slightly higher interest rates on your unpaid balances, including 20.99% for purchases and 23.99% on cash advances.
To qualify, you must have a minimum income of $60,000 for individuals or $100,000 in annual household income. However, you can declare a current yearly spend of at least $15,000. BMO is offering a great deal to new subscribers that includes up to $40,000* in bonus points and a rebate on the $120* annual fee.
*As of December 2021
BMO eclipse Visa Infinite Features and Benefits
The BMO eclipse Visa offers a slate of great features and benefits. The most appealing is probably the 5x the BMO points offered on every $1 spent on groceries, dining in and out, gas and transit, including both public and rideshares. If you add users to your account, you can earn up to 10% more points. You’ll also receive an annual $50 lifestyle credit you can use to pay off your card or buy something for yourself.
Additional benefits include Visa Infinite features such as the Luxury Hotel Collection, providing exclusive hotel perks such as complimentary breakfasts. The Visa Infinite Dining Series deliver exclusive wine and multi-course meals to your home, and the Visa Infinite Concierge offers personal assistant services such as securing concert tickets or reservations for you when you travel. Finally, you can get discounts at 95 golf courses worldwide with the Visa Infinite Troon Golf Benefits.
Reward Points Example Scenario
Points accumulation with the BMO eclipse Visa is straightforward. For example, let’s say in one month you spent $500 on groceries, $300 on transit and an additional $200 on subscriptions and other bills.
Your points accumulation would look like this:
Groceries $500 x 5 = 2500 pts
Transit $300 x .5 = 1500 pts
Bills $200 x 1 = 200 pts
Assuming you made no other purchases on your Visa, you would accumulate 4200 points for that month.
BMO eclipse Visa Infinite Perks
The BMO eclipse Visa Infinite also includes insurance. Mobile Device Insurance covers your lost, stolen or damaged mobile device up to $1000. Purchase Security and Extended Warranty Insurance protects your purchases against theft or damage for 90 days from the time of purchase and doubles the original manufacturer’s warranty up to a maximum of one additional year.
BMO also includes some good travel insurance options with the Visa Infinite with out-of-province and out-of-country emergency medical insurance, common carrier insurance and car rental insurance. And finally, Visa zero liability will cover you for any momentary loss that occurs through fraudulent use of your card.
BMO eclipse Visa Infinite Compared
|BMO eclipse Visa Infinite||American Express Cobalt||CIBC Aventura Visa Platinum|
|Annual Fee||$120||No annual fee Monthly fee: $12.99||$139|
|Reward Points||5 points per dollar spent on groceries, dining in and out, gas and transit, including both public and rideshares 1 point per dollar on other purchases||5 points per dollar spent on restaurants and food delivery 3 points per dollar on streaming services 2 points per dollar spent on travel and transit 1 point per dollar on everything else||1 point per $1 on gas, groceries, drugstores (upto $6000 per year) 1 point per $1 spent through CIBC Rewards Centre on travel 1 point per $1 on all other purchases|
|Insurance Features||Rental car insurance; Lost, stolen or damaged mobile devices; Lost or stolen merchandise; Travel health insurance; Zero liability on stolen credit card purchases||Travel health and accident as well as flight cancellation, delay and baggage insurance; Rental car insurance; Lost or stolen merchandise||Travel insurance, Flight delay and baggage; Mobile device insurance; Hotel burglary insurance; Car rental insurance; Common carrier insurance; Zero liability on stolen credit card purchases|
|Travel Benefits||Hotel extras, restaurant deals, concierge services||Hotel benefits, exclusive experiences,||Airport lounges, travel application fee rebates|
|Interest Rates||Purchases – 20.99% Cash advance – 23.99%||Purchases – 20.99% Cash advance – 21.99%||Purchases – 20.99% Cash Advance – 22.99%|
|Welcome Bonus||Up to 40,000 reward points and $120 annual fee waived for the first year.||Up to 50,000 in reward points||2500 after completing certain actions and $139 annual fee waived for the first year|
Applying for the BMO eclipse Visa Infinite card
You can apply for the BMO eclipse Visa Infinite online or in person at any BMO bank. To apply, you will need to provide your name, date of birth, contact information, SIN and address. You must also supply your employment status, income sources, rent or mortgage amount and what you intend to use the card for. Finally, in addition to meeting the required income, you must also:
- Be a permanent Canadian resident.
- Have not declared bankruptcy in the past seven years
- Have reached the age of majority in your province or territory (18 in AB, MB, ON, PEI, QC and SK and 19 in all other regions).
BMO eclipse Visa Infinite Pros & Cons
Pros: The Good Stuff
Great flexibility with how you can use points for travel and other rewards
The $50 lifestyle credit applied annually to your statement
Visa cards are accepted almost everywhere
High rewards on food and transit
Adding more users will increase your earn rate by 10%
Cons: The Not So Good Stuff
Significant Annual Fee
Other cards offer stronger travel insurance options including trip cancellation
Travel redemptions must be booked through BMO rewards
Much smaller returns on regular purchases
Higher minimum annual income
The Bottom Line
The BMO eclipse Visa Infinite card is a strong choice for anyone who wants to collect reward points, particularly points for groceries, dining in and transit and a simple, easy to understand points redemption. It will also appeal to families and others who can benefit from adding additional users and increasing the earn rate.
The welcome bonus of up to 40,000 points and the annual fee waiver in the first year are great hooks, but the ongoing yearly fee should be considered against these benefits. While the travel insurance options could be much more robust and should include trip cancellation, the $50 lifestyle credit is a great added perk. Who doesn’t like free money?
Frequently Asked Questions
The credit limit on a BMO eclipse Visa Infinite Card will vary according to individual cir-cumstances. Typically, Visa credit cards come with credit limits that can be as low as $500 or as high as $50,000 or more. However, most people with good credit will qualify for a visa within the $5000 to $15,000 range. Because there is an income eligibility requirement for the BMO Eclipse Visa Infinite card, most credit limits will likely be in the higher range.
The minimum annual income to qualify for Visa Infinite cards, including the BMO Eclipse, is $60,000 for individuals and $100,000 for households. If you don’t meet these require-ments, you can qualify if you have spent at least $15,000 on all other credit cards over the last 12 months or spend a minimum of $1250 on your cards each month. You must declare your annual or monthly spending on your application if you don’t meet the income re-quirements.
The welcome bonus for the BMO eclipse Visa Infinite card changes, so always check for the latest and best deal. Currently, BMO is offering new clients a welcome offer of up to 40,000 points and will waive the $120 annual fee in the first year. You will get 25,000 points after you spend $3,000 on your new card in the first three months, plus an additional 15,000 points on your first anniversary of signing up for the new card.