Quick overview of BMO eclipse rise Visa Card
I've always felt that BMO lags behind in the credit card game. When have they ever cracked seriously into the discussions of top points, cashback or any other cards? With that said, its eclipse rise Visa Card (stylized in lowercase just to drive me crazy) is a half-decent cash back card worth a glance if you're looking for a daily spender.
The high level is this – there are all sorts of ways to earn points, including 5x multipliers on recurring bill payments, dining and more. All this and more, with no annual fee. Nice! But there's always a catch, and this one is pretty straightforward – BMO reward points aren't great compared to other rewards, and you need a boatload to redeem them for anything more than a latte. Plus, you don't earn them on every dollar spent, which feels needlessly cruel.
Despite these considerations, the BMO eclipse rise Visa Card could be a draw for BMO enthusiasts. If you're one of them, here's what you need to know:
Who’s BMO eclipse rise Visa Card for?
The eclipse rise has a sort of “every person” appeal but is branded squarely to appeal to elder Gen Z and younger millennials, two groups particularly averse to capitalization. The eclipse rise competes squarely against cards like the Amex Cobalt for spend-happy urban professionals who like to dine out/order in and want to get something back in exchange. The distinguishing feature of the eclipse rise is the absence of an annual (or monthly) fee, which may add to its appeal for younger folks who are looking to be a bit more financially conscious.
Pros and cons
Pros
-
Higher earn rates in everyday spending categories (dining, groceries, recurring bills)
-
No annual fee
-
Mobile device insurance
-
Bonuses for paying your bills on time
-
Balance transfer offer of 0.99% for 9 months
-
No income requirements
Cons
-
Point value could be stronger
BMO eclipse rise Visa Card welcome bonus
- Get 20,000 points when you spend $1,500 in the first 3 months - that's a $133 value!
- Get 0.99% for 9 months with a 2% fee
How to earn BMO rewards points on BMO eclipse rise Visa Card
Like a bunch of the other daily driver cards (I’m looking at you, Scotia Scene cards), the best way to earn points on the eclipse rise is spending frequently in the 5x categories of groceries, dining and takeout. This is somewhat disingenuous because, as I mentioned above, that multiplier only applies to every $2 spent, effectively nerfing it.
There’s other ways to earn though, including the nifty deal of 2,500 bonus points for paying off your balance on time, every time for the first year you have it. Plus, another 2,500 points if you cash in 12,000 points within your year to pay down your balance.
I absolutely love banks incentivizing good financial prudence rather than the opposite, which is far more common.
How to redeem BMO rewards
A travel card, the BMO eclipse rise is certainly not. Nonetheless, the BMO rewards program exchanges decently well for travel (the calculator on their application page estimates that a one-night hotel stay in Banff could be accomplished with as few as 26,000 points).
There are various merchandise options, with the usual suspects of tools, tech and household products. But it seems like BMO wants you to pay with your points directly onto your balance, something they incentivize with their 2,500 bonus offer. The redemption here is pretty meh, with its marketing copy touting a latte could be paid with as few as 2,400 points. Woo hoo.
You can view and redeem your points easy-peasy on bmorewards.com, which offers a decent platform for points-powered window shopping.
BMO eclipse rise Visa Card key benefits
- $0 annual fee
- Accelerated earn rate on popular spending categories
- Point-driven incentives for good financial behaviour in the first year
BMO eclipse rise Visa Card insurance coverage
If you’re into insurance, there’s not much going on with the eclipse rise. Here’s all it’s got going on, and the list ain’t long:
- Extended warranty: This card will add an extra 1 year onto the warranty for products purchased with it.
- Purchase protection: The eclipse rise offers purchase protection for 90 days.
- Mobile device insurance: $1,000 for one year for your mobile device – simple as that.
…aaaaand that’s it.
Extra benefits
- Save up to seven cents per litre at Shell stations, a perk extended to all BMO cardholders.
- Access the BMO PaySmart plan for one purchase annually under $1,000. In essence, it allows you to break a larger purchase up into several smaller payments that incur less interest.
BMO eclipse rise Visa Card eligibility criteria, “other” rates and extra fees
- No personal or household income needs to be declared to apply for this card
- Recommended credit score of 660+
How BMO eclipse rise Visa Card compares
BMO eclipse rise Visa Card vs. Scotia Momentum No-Fee Visa
Scotia Momentum® No-Fee Visa* Card
3.0
5% cash back
Welcome offerFair
Suggested credit scoreEarn 5% cash back on all purchases for the first 3 months (up to $2,000 in total purchases); Plus, get a 0% introductory interest rate on balance transfers for the first 6 months (22.99% after that; annual fee $0)
Expires
Nov 1, 2025
This depends on whether you prefer points or cash back. If the latter, I’d still take the BMO eclipse to rise over the Scotia Momentum because you only receive your cashback in a statement credit at the end of the year. Given how easy it is to pay off your card with points and the opportunities to earn them, I actually think the eclipse rise offers a better “cash back” option through its points.
Pros
-
No annual fee: The card does not charge an annual fee, making it cost-effective for users.
-
Cash back rewards: Offers 1% cash back on eligible gas, groceries, drugstore purchases and recurring bill payments.
-
Welcome bonus: There is a welcome bonus of 5% cash back on up to $2,000 in eligible purchases within the first three months.
-
Promotional balance Transfer Rate: A promotional 0% annual interest rate on balance transfers for the first six months (with a 2% balance transfer fee).
-
Rental car discounts: Cardholders can save up to 25% off base rates at participating AVIS and Budget locations in Canada and the U.S.
Cons
-
Limited insurance: No included insurance coverage, though optional insurance bundles are available for a fee.
-
Low base rewards rate: After exceeding the $25,000 spending cap, the cash back rewards drop to a base rate of 0.5%.
-
Rigid redemption process: Cash back is accumulated monthly but can only be redeemed once annually in November.
-
Balance transfer fee: There is a 2% balance transfer fee when utilizing the promotional balance transfer rate.
-
Foreign transaction fee: The card charges a 2.5% foreign transaction fee on purchases made in a foreign currency.
-
Limited perks: Compared to other no-fee cards, the Scotia Momentum No-Fee Visa Card offers fewer perks and lower reward rates.
Eligibility
Fair
Recommended Credit Score
Recommended Credit Score
Fair
1%
Cash back at gas stations, grocery stores, drugs stores, and on recurring payments.
0.5%
Cash back on all other eligible purchases.
25%
Off base rates at Avid and Budget locations in North America.
Cash back at gas stations, grocery stores, drugs stores, and on recurring payments.
1%
Cash back on all other eligible purchases.
0.5%
Off base rates at Avid and Budget locations in North America.
25%
19.99%
Purchase APR
22.99%
Balance Transfer Rate
22.99%
Cash Advance APR
$0
Annual Fee $0 for each additional card
2.5%
Foreign Transaction Fee
Purchase APR
19.99%
Balance Transfer Rate
22.99%
Cash Advance APR
22.99%
Annual Fee
$0
Foreign Transaction Fee
2.5%
This depends on whether you prefer points or cash back. If the latter, I’d still take the BMO eclipse to rise over the Scotia Momentum because you only receive your cashback in a statement credit at the end of the year. Given how easy it is to pay off your card with points and the opportunities to earn them, I actually think the eclipse rise offers a better “cash back” option through its points.
Pros
-
No annual fee: The card does not charge an annual fee, making it cost-effective for users.
-
Cash back rewards: Offers 1% cash back on eligible gas, groceries, drugstore purchases and recurring bill payments.
-
Welcome bonus: There is a welcome bonus of 5% cash back on up to $2,000 in eligible purchases within the first three months.
-
Promotional balance Transfer Rate: A promotional 0% annual interest rate on balance transfers for the first six months (with a 2% balance transfer fee).
-
Rental car discounts: Cardholders can save up to 25% off base rates at participating AVIS and Budget locations in Canada and the U.S.
Cons
-
Limited insurance: No included insurance coverage, though optional insurance bundles are available for a fee.
-
Low base rewards rate: After exceeding the $25,000 spending cap, the cash back rewards drop to a base rate of 0.5%.
-
Rigid redemption process: Cash back is accumulated monthly but can only be redeemed once annually in November.
-
Balance transfer fee: There is a 2% balance transfer fee when utilizing the promotional balance transfer rate.
-
Foreign transaction fee: The card charges a 2.5% foreign transaction fee on purchases made in a foreign currency.
-
Limited perks: Compared to other no-fee cards, the Scotia Momentum No-Fee Visa Card offers fewer perks and lower reward rates.
Eligibility
Fair
Recommended Credit Score
Recommended Credit Score
Fair
1%
Cash back at gas stations, grocery stores, drugs stores, and on recurring payments.
0.5%
Cash back on all other eligible purchases.
25%
Off base rates at Avid and Budget locations in North America.
Cash back at gas stations, grocery stores, drugs stores, and on recurring payments.
1%
Cash back on all other eligible purchases.
0.5%
Off base rates at Avid and Budget locations in North America.
25%
19.99%
Purchase APR
22.99%
Balance Transfer Rate
22.99%
Cash Advance APR
$0
Annual Fee $0 for each additional card
2.5%
Foreign Transaction Fee
Purchase APR
19.99%
Balance Transfer Rate
22.99%
Cash Advance APR
22.99%
Annual Fee
$0
Foreign Transaction Fee
2.5%
BMO eclipse rise Visa Card vs. BMO eclipse Visa Infinite
BMO eclipse Visa Infinite* Card
3.8
up to 60K pts
Welcome offerVery Good
Suggested credit scoreGet 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 anniversary!*
Expires
Nov 30, 2024
I mean, this is clearly a much better card targeting a different demographic. The $120annual fee (waived the first year—nice) and a much higher income expectation put the eclipse in a higher snack bracket than the eclipse Rise. But if you can afford it (at least for that free first year), the BMO eclipse Visa Infinite offers more perks. It's definitely worth considering if you're hellbent on BMO.
Pros
-
Excellent welcome offer: Get up to 60,000 points and a $50 lifestyle credit
-
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
Cons
-
High minimum annual income: Minimum $60,000 (individual) or $100,000 (household)
-
Insurance doesn't include trip cancellation coverage
Eligibility
Very Good
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Recommended Credit Score
Very Good
Required Annual Personal Income
$60,000
Required Annual Household Income
$100,000
5x
Earn 5x the points for every $1 spent on groceries, gas, dining in and out and transit.*
10%
Earn 10% more points when you add an authorized user to your account.*
$50
Get a $50 annual lifestyle credit to spend however you want*
Earn 5x the points for every $1 spent on groceries, gas, dining in and out and transit.*
5x
Earn 10% more points when you add an authorized user to your account.*
10%
Get a $50 annual lifestyle credit to spend however you want*
$50
20.99%
Purchase APR
23.99%
Balance Transfer Rate
23.99%
Cash Advance APR 21.99% for Quebec residents
$120
Annual Fee Annual fee waived in the first year
Purchase APR
20.99%
Balance Transfer Rate
23.99%
Cash Advance APR
23.99%
Annual Fee
$120
I mean, this is clearly a much better card targeting a different demographic. The $120annual fee (waived the first year—nice) and a much higher income expectation put the eclipse in a higher snack bracket than the eclipse Rise. But if you can afford it (at least for that free first year), the BMO eclipse Visa Infinite offers more perks. It's definitely worth considering if you're hellbent on BMO.
Pros
-
Excellent welcome offer: Get up to 60,000 points and a $50 lifestyle credit
-
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
Cons
-
High minimum annual income: Minimum $60,000 (individual) or $100,000 (household)
-
Insurance doesn't include trip cancellation coverage
Eligibility
Very Good
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Recommended Credit Score
Very Good
Required Annual Personal Income
$60,000
Required Annual Household Income
$100,000
5x
Earn 5x the points for every $1 spent on groceries, gas, dining in and out and transit.*
10%
Earn 10% more points when you add an authorized user to your account.*
$50
Get a $50 annual lifestyle credit to spend however you want*
Earn 5x the points for every $1 spent on groceries, gas, dining in and out and transit.*
5x
Earn 10% more points when you add an authorized user to your account.*
10%
Get a $50 annual lifestyle credit to spend however you want*
$50
20.99%
Purchase APR
23.99%
Balance Transfer Rate
23.99%
Cash Advance APR 21.99% for Quebec residents
$120
Annual Fee Annual fee waived in the first year
Purchase APR
20.99%
Balance Transfer Rate
23.99%
Cash Advance APR
23.99%
Annual Fee
$120
BMO eclipse rise Visa Card vs. BMO CashBack Mastercard
BMO CashBack® Mastercard®*
3.4
5% cash back
Welcome offerGood
Suggested credit scoreGet 5% cash back in your first 3 months*
Expires
Nov 30, 2024
It's not a bad cash-back option, and I'd take it over the BMO CashBack Mastercard with 3% cash back on grocery purchases and 1% on recurring bill payments, all with $0 annual fee. I'm willing to call this one a tie, or just about with the eclipse rise, but if it were me, I'd still probably lean towards the eclipse rise because the points give me more flexibility than an annual statement credit.
Pros
-
No Annual Fee: A rare find in Canada for a cash back card
-
A generous 3% cash back on groceries (up to $500 monthly)
-
Easily redeem from $1, set up automatic redemptions, or use as a statement credit
-
Additional perks include discounts on rentals, free supplementary cards and show discounts
Cons
-
Outside of groceries and recurring payments, the standard earn rate drops to 0.5%
-
Monthly caps on top earn rates for groceries and recurring payments
-
A 2% balance transfer fee applies
-
The interest rate on the remaining balance transfer amount increases after the introductory period
Eligibility
Good
Recommended Credit Score
$15,000
Required Annual Personal Income
Recommended Credit Score
Good
Required Annual Personal Income
$15,000
3%
Cardholders earn 3% (up to a monthly max of $500) cash back on groceries
1%
Cardholders can earn 1% (up to $500 per month) on any recurring bill payments*
0.5%
Cardholders can earn 0.5% (no monthly max) on all other eligible purchases*
Cardholders earn 3% (up to a monthly max of $500) cash back on groceries
3%
Cardholders can earn 1% (up to $500 per month) on any recurring bill payments*
1%
Cardholders can earn 0.5% (no monthly max) on all other eligible purchases*
0.5%
20.99%
Purchase APR
22.99%
Cash Advance APR 21.99% for Quebec residents
$0
Annual Fee
Purchase APR
20.99%
Cash Advance APR
22.99%
Annual Fee
$0
It's not a bad cash-back option, and I'd take it over the BMO CashBack Mastercard with 3% cash back on grocery purchases and 1% on recurring bill payments, all with $0 annual fee. I'm willing to call this one a tie, or just about with the eclipse rise, but if it were me, I'd still probably lean towards the eclipse rise because the points give me more flexibility than an annual statement credit.
Pros
-
No Annual Fee: A rare find in Canada for a cash back card
-
A generous 3% cash back on groceries (up to $500 monthly)
-
Easily redeem from $1, set up automatic redemptions, or use as a statement credit
-
Additional perks include discounts on rentals, free supplementary cards and show discounts
Cons
-
Outside of groceries and recurring payments, the standard earn rate drops to 0.5%
-
Monthly caps on top earn rates for groceries and recurring payments
-
A 2% balance transfer fee applies
-
The interest rate on the remaining balance transfer amount increases after the introductory period
Eligibility
Good
Recommended Credit Score
$15,000
Required Annual Personal Income
Recommended Credit Score
Good
Required Annual Personal Income
$15,000
3%
Cardholders earn 3% (up to a monthly max of $500) cash back on groceries
1%
Cardholders can earn 1% (up to $500 per month) on any recurring bill payments*
0.5%
Cardholders can earn 0.5% (no monthly max) on all other eligible purchases*
Cardholders earn 3% (up to a monthly max of $500) cash back on groceries
3%
Cardholders can earn 1% (up to $500 per month) on any recurring bill payments*
1%
Cardholders can earn 0.5% (no monthly max) on all other eligible purchases*
0.5%
20.99%
Purchase APR
22.99%
Cash Advance APR 21.99% for Quebec residents
$0
Annual Fee
Purchase APR
20.99%
Cash Advance APR
22.99%
Annual Fee
$0
Is the BMO eclipse rise Visa Card worth it?
Like most no-fee cards, pretty much! That said, there are a lot of cash-back cards to consider, which might net you more value annually than the relatively sleepy BMO reward points. I’d shop around, paying close attention to your preferred spending categories.
FAQs
Cam is a content marketer with a passion for saving, financial independence, and pulling off elaborate credit card point schemes. He has worked in Fintech and Finserve (specifically Group Retirement) and loves researching and writing about finance.
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