Hey Canadians! Do you want a credit card that's been winning awards left, right, and centre? Look no further.
The BMO Eclipse Infinite Card is the winner of the 2021 MoneySense™ Best Visa Points Card for Dining and Transit AND the winner of the 2021 creditcardGenius® Best Gas & Transit Credit Card! There's no doubt every Canadian should have this card in their wallet, Apple Pay, or purse.
Keep reading to find out more about the features and benefits of this card.
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BMO Eclipse Infinite Card
- Welcome Points: Get up to 40,000 points
- Annual Fee: $120 annual fee waived in the first year
- Eligibility: Canadian resident, age of majority
- Rewards: Get 5x the points on takeout, groceries and more
As BMO says so eloquently, 'You deserve to be rewarded.' And that's what their welcome campaign does when you get this credit card as a new user. Get up to 40,000 BMO reward points and the $120 annual fee waived in the first year!
But don't wait too long - this subscription promo might not last very long. Considering how enticing it is, Canadians are going to be jumping on it by the SUV-loads.
Features and Benefits
Here are some fantastic features and benefits of the BMO Eclipse Infinite Card you need to keep in mind:
Get 5x the Points
How awesome would it be if you got points every time you spent money on groceries, dining in and out, gas and transit? You are going to be spending this money anyway, aren't you? Well, it's time you got rewarded for it.
And the BMO Eclipse Infinite Card does just that. You get 5 times the points (you read that right) on every $1 you spend on the items above. With this feature, your points will quadruple and sextuple in no time at all.
If you are a big takeout and food delivery person, then this card can help you earn 5x points on that. Even if you like to cook at home, you can earn 5x points on that as well.
And if dining out is more your style, then guess what - you can earn 5x points on that, too!
Which Canadian doesn't spend hundreds of dollars on gas every year?! It's the Canadian pastime to drive everywhere, go on long road trips, and use their credit card to swipe in and out at the gas station. With BMO, you can earn 5x points on all gas purchases, so you are technically making money when you go on those long car trips.
Earn 10% More Points With an Added Authorized User
Do you have a loved one that you would like to add to the account as well? Don't hesitate, do it now. Every authorized user added to your credit card can help you earn even more points - 10% more!
Get a $50 Annual Lifestyle Credit
Do you dream of getting free money from the government and financial institutions? Well, BMO has answered your dreams.
With the BMO Eclipse Infinite Card, you get a $50 annual lifestyle credit to use AS YOU WISH. Time to celebrate, my fellow Canadians.
Get Access To Myriad Visa Infinite Benefits
Visa Infinite has many benefits that you can access when you have a BMO Eclipse Infinite Card. We list some of them below:
- Access to the Visa Infinite Luxury Hotel Collection and enjoy seven exclusive benefits (like complimentary breakfast)
- Access to the Visa Infinite Dining Series
- Connect to the Visa Infinite Concierge (personal assistant, anyone?)
- Get the Visa Infinite Troon Golf Benefit - discounts at 95 resorts and courses around the world
Don't forget to explore their Visa Infinite's visa (linked above) to go into more detail with each of these benefits.
There are 3 kinds of insurances that you get with the BMO Eclipse Infinite Card.
- Mobile Device Insurance - up to $1000 in the event your mobile device is lost, stolen or accidentally damaged
- Purchase Security and Extended Warranty Insurance - 90 days of coverage against theft or damage of covered items from date of purchase and doubling of the manufacturer's warranty to a maximum of 1 additional year
- Travel Insurance - Out-of-Province/Country Emergency Medical Insurance, Common Carrier Insurance and Car Rental Collision/Loss Damage Insurance
With these additional insurance benefits, you can rest assured when you purchase new items or travel.
Rates and Fees
As mentioned above, the $120 annual fee gets waived for your first year. The interest rate for purchases is 20.99% and for cash advances is 23.99% (21.99% for Quebec residents). Quite reasonable, as you can see!
How to Get the BMO Eclipse Infinite Card
If you are already convinced of all the features and benefits of this credit card, and you are ready to apply right now, read on to see what some eligibility requirements are.
You will need to be in the mid-to-high range of income when it comes to being eligible for the BMO Eclipse Infinite Visa Card. If you are applying for an individual card, you need a minimum annual income of $60,000 and $100,000 income for a household.
OR, you can have a minimum of $15,000 declared current annual spend on all your other credit card combined (a minimum spend of $1,250 per month) if you don't qualify income-wise.
Earning and Redeeming Points
Splurge on yourself a little by earning and redeeming points in various ways.
How to Earn Points
As mentioned above, every time you spend on gas, food delivery, dining, or groceries, you will be eligible to earn 5x the points on every $1 spent. And for every other item purchased, you earn 1 point for every $1 spent. The more you use this card for your everyday purchases (Timbits for the whole office!), the faster your points will grow.
How to Redeem Points
Your BMO reward points are easy to redeem. You are free to use them to buy big items or small, as you desire.
Some examples of how much items cost when paid with points are:
- 2,400 points for lattes for you
- 12,600 points for a monthly gym membership
- 16,800 points for a luxurious spa treatment
You can pay for items with your reward points in 3 easy steps:
- Sign in to bmorewards.com and select the “Pay with Points” tab
- Browse your recent transactions - select which eligible purchase you want to redeem points for
- Choose how many points you would like to redeem toward your purchase - redeem points for as little as $1
Now all you have to consider is what you are going to do with all those points you garner. Dust off that suitcase and travel somewhere on your bucket list, perhaps?
How Does It Compare To Other Top Competitors?
BMO Eclipse Infinite Card
- Annual Fee: $120 annual fee waived in the first year
- Annual interest rate: 20.99% for purchases
- Welcome offer: Get up to 40,000 points
American Express Cobalt Card
- Annual Fee: No annual fee
- Annual interest rate: 20.99% on purchases and 21.99% on funds advances*
- Welcome offer: Earn up to 50,000 Membership Rewards® points
Scotiabank Gold American Express Card
- Annual Fee: $120
- Annual interest rate: 20.99% on purchases and 22.99% on cash advances
- Welcome offer: Earn up to $850* in value in the first 12 months, including up to 45,000 bonus Scene+ points and first year annual fee waived.1. Offer ends 30 April 2023.
The BMO Eclipse Infinite Card excels, but it falls short in other areas. Let's look at it in detail below.
Pros and Cons
We have gone through all of the features and benefits of the BMO Eclipse Infinite Card. Below we set out some of the pros and cons for you to review at a glance.
One major pro of getting the BMO Eclipse Infinite Card has to be that being a Visa credit card, it's accepted in more locations than the American Express ones are. Not only that, but it's much easier to get accepted and be eligible for the BMO card than the American Express ones.
Also, the other cards don't have an annual $50 lifestyle credit as the BMO card does.
The main con of the BMO Eclipse Infinite Card is that the BMO rewards points can ONLY be redeemed on their website. With the American Express cards, you can book travel independently and then use the points to offset the purchase. That's much more convenient in many ways.
Another con is that the income requirements for eligibility are much higher for the BMO card rather than the American Express ones. Also, getting a supplementary card costs $50, whereas the other two are much cheaper than that.
Now that you have taken a deeper look at the BMO Eclipse Infinite Card, are you contemplating applying for it? Go for it! At least for the first year, you won't be paying an annual fee, and you will get a $50 lifestyle credit.
If you would like to see more reviews like these or compare insurance rates, go to Insurdinary's website and blog today! We are eager to help you with everything financial, from insurance, mortgage, to credit cards and more. It's time for you to become more financially savvy and move towards financial independence using our services.