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BMO is now one of the few institutions in Canada to offer multiple credit card networks:
Both the Visa and Mastercard credit cards featured in this comparison are part of the BMO Rewards program.
Let’s take a look at the different features of the new BMO eclipse Visa Infinite* Card versus those of the BMO Ascend World Elite Mastercard.
Let’s look at the big differences between these credit cards in regards to:
The welcome bonus offered by each of these credit cards varies according to promotions. However, there are differences to be aware of between the two credit cards.
When you sign up for the BMO eclipse Visa Infinite* Card, you can earn up to 70,000 BMO Rewards points, plus thefirst year’s annual fee of $120 will be waived:
When you sign up for the BMO Ascend World Elite Mastercard, you can earn up to 100,000 BMO Rewards points as well as a $150 annual fee waiver for the first year :
The BMO Ascend World Elite Mastercard offers more points, but requires much more spending. If your budget allows, this is the best card for getting a lot of BMO points.
Still, most of the welcome offer on the BMO eclipse Visa Infinite* Card is easier to obtain, with a reasonable minimum spending requirement.
The BMO eclipse Visa Infinite* Card requires a minimum income of:
The BMO Ascend World Elite Mastercard requires a minimum income of:
The BMO eclipse Visa Infinite* Card is more accessible than the BMO Ascend World Elite Mastercard (the latter now “outclassed” by the BMO eclipse Visa Infinite Privilege* Card, which requires an individual income of $150,000 and a family income of $200,000).
The BMO eclipse Visa Infinite* Card has an annual fee of $120 (but has an annual fee waiver for the first year).
However, this card offers an annual credit of $50, which means it only costs $70 a year!
The BMO Ascend World Elite Mastercard has an annual fee of $150 (but has an annual fee waiver for the first year).
However, it comes with four airport lounge visits, which may justify its cost.
Both cards are free in the first year.
However, afterwards, the BMO eclipse Visa Infinite* Card costs less and comes with credit that can be used any way you like: travel, everyday purchases, etc.
The BMO eclipse Visa Infinite* Card and the BMO Ascend World Elite Mastercard offer several levels of point accumulation.
With the new BMO eclipse Visa Infinite* Card, you can earn 5 BMO Rewards points per dollar in purchases for:
With the BMO Ascend World Elite Mastercard, you can earn 5 BMO Rewards points per dollar spent on travel.
And you get 3 points for every dollar you spend on:
The BMO eclipse Visa Infinite* Card is perfect for everyday purchases, with 5 points per dollar for everyday categories such as groceries, gas or local transportation.
For its part, the BMO Ascend World Elite Mastercard will be particularly interesting if you make a lot of travel purchases: 5 points per dollar.
Outside these accelerated purchase categories, the BMO eclipse Visa Infinite* Card and the BMO Ascend World Elite Mastercard offer a basic accumulation rate.
With the new BMO eclipse Visa Infinite* Card, you can earn 1 point per dollar on all other purchases.
With the BMO Ascend World Elite Mastercard, you can earn 1 point per dollar on all other purchases.
Both cards offer 1 point per dollar for non-category purchases. The only advantage of the BMO Ascend World Elite Mastercard is that, unlike the BMO eclipse Visa Infinite* Card, it is accepted at Costco.
These are two credit cards with travel points that are part of the BMO Rewards program.
Here’s a chart of your different options for redeeming BMO Rewards points:
Whichever BMO credit card you choose, the best use of BMO Rewards points will be to book travel (airline ticket, hotel accommodations, car rental, etc.) through the BMO Rewards portal. 40,000 points = $285.
The BMO eclipse Visa Infinite* Card offers a number of insurance coverages:
The BMO Ascend World Elite Mastercard offers a range of insurance options:
The BMO Ascend World Elite Mastercard is one of the best credit cards in the country for points-based travel insurance. Indeed, for most of the proposed insurances, it is enough to have paid only a part of your trip with the card. Even just the airport taxes for an Aeroplan reward ticket, for example!
In contrast, the BMO eclipse Visa Infinite* Card does not offer any travel-related insurance, apart from medical or car rental insurance.
The BMO eclipse Visa Infinite* Card offers a range of benefits:
The BMO Ascend World Elite Mastercard offers a range of benefits:
On the one hand, the BMO eclipse Visa Infinite* Card comes with a $50 annual credit that you can use as you wish.
On the other hand, the BMO Ascend World Elite Mastercard offers 4 airport lounge accesses, which has a higher value than $50, but is more restrictive: if you don’t use them, it’s worthless to you.
So? Which card wins this duel?
It’s hard to give a definite winner. In fact, it will be up to each person to make up their own mind according to their needs.
The BMO eclipse Visa Infinite* Card stands out from the crowd:
It will be more of a credit card for people who regularly earn points for everyday expenses and do not require robust travel insurance. The points can easily be used for hotel nights or car rentals, for example!
Against it, the BMO Ascend World Elite Mastercard®* stands out for:
This credit card is perfect for people who travel regularly and require extensive insurance.
These are 2 cards that we recommend in many of our rankings:
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