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BMO Has Launched Two New Visa Credit Cards

To the point

BMO has launched two new Visa credit cards: the BMO eclipse Visa Infinite* Card and the BMO eclipse Visa Infinite Privilege* Card.

The New BMO eclipse Visa Infinite* Card

By applying for the New BMO eclipse Visa Infinite* Card, you can get up to 40,000 BMO Rewards points and the $120 annual fee waived in the first year.

  • 25,000 points after you spend a minimum of $3,000 within the first three months
  • 15,000 points twelve months after the Credit Card account open date

You will also receive a $50 statement credit each calendar year to spend however you want.

With the New BMO eclipse Visa Infinite* Card, you can earn 5x the BMO Rewards points for every $1 spent on:

  • Grocery
  • Dining
  • Food delivery
  • Gas
  • Transit

And 1 BMO Rewards point for every $1 spent on everything else.

Plus, if you add an authorized user to your account, you’ll earn 10% more points.

Regarding insurance, the New BMO eclipse Visa Infinite* Card includes:

  • Travel Emergency Medical Insurance
  • Rental Car Collision Loss/Damage Insurance
  • Travel Accident Insurance
  • Mobile device insurance
  • Purchase security insurance
  • Extended warranty

To apply for the new BMO eclipse Visa Infinite* Card, you must have a minimum $60,000 (individual) or $100,000 (household) annual income.

Our Opinion on the New BMO eclipse Visa Infinite* Card

The New BMO eclipse Visa Infinite* Card is a first-year free card. Besides, it comes with a $50 annual credit with a calendar year cycle.

So if you apply for this card in November 2020, you could get a $50 statement credit for 2020 and receive a new $50 statement credit in January 2021! That’s $100 you can use however you want!

So it’s pretty much covering the second year annual fee ($120) to be able to earn the 15,000 points offered at card renewal(a $105 value when using your points for travel)!

card Bmo Eclipse Visa Infinite 1

Regarding points earning, the New BMO eclipse Visa Infinite* Card is especially rewarding for everyday purchases: groceries, gas, transit, restaurants, bars or even food delivery (very trendy in 2020!).

All 5x categories (with a Visa credit card accepted almost anywhere)!

If you use your points for travel redemptions, it’s a 3.5% return on those purchases (or 2.5% for the Pay with Points option).

For all other purchases, you’ll earn 1 point per dollar (a lot less than the 2 points per dollar offered by the BMO® World Elite®* Mastercard®*).

Anyway, this New BMO eclipse Visa Infinite* Card is attractive and could become the everyday card of many members of the milesopedia community! Especially with lower income requirements than the World Elite Mastercard: $60,000 (individual) or $100,000 (household) annual income.

The New BMO eclipse Visa Infinite Privilege* Card

The new BMO eclipse Visa Infinite Privilege* Card is a high-end metal card.

By applying for this card, you can get up to 50,000 BMO Rewards points:

  • 35,000 points after you spend a minimum of $5,000 within the first three months
  • 15,000 points twelve months after the Credit Card account open date

You will also receive a $200 statement credit each calendar year to spend however you want.

As well as a Priority Pass membership with 6 airport lounge visits per year.

And without forgetting other Visa Infinite Privilege benefits such as priority security lane, airport parking and valet service discounts at select Canadian airports, unique dining and wine events, VIP perks in luxury hotels and more.

With the new BMO eclipse Visa Infinite Privilege* Card, you can earn 5x the BMO Rewards points for every $1 spent on:

  • Grocery
  • Gas
  • Drugstore
  • Travel
  • Dining
  • Food delivery

And 1 BMO Rewards point for every $1 spent on everything else.

Plus, if you add an authorized user to your account, you’ll earn 25% more points.

Regarding insurance, the New BMO eclipse Visa Infinite Privilege* Card includes:

  • Travel Emergency Medical Insurance
  • Trip Cancellation/Interruption insurance
  • Flight delay insurance
  • Delayed and Lost Baggage Insurance
  • Rental Car Collision Loss/Damage Insurance
  • Hotel/Motel Burglary Insurance
  • Travel Accident Insurance
  • Mobile device insurance
  • Purchase security insurance (120 days)
  • Extended warranty (up to 2 additional years)

To apply for the new BMO eclipse Visa Infinite Privilege* Card, you must have a minimum $150,000 (individual) or $200,000 (household) annual income.

Our Review of the New BMO eclipse Visa Infinite Privilege* Card

The new BMO eclipse Visa Infinite Privilege* Card is clearly designed for customers enjoying luxurious vacations and exclusive events.

Note that unlike the New BMO eclipse Visa Infinite* Card, with the Visa Infinite Privilege version, you can earn 5x the points for every $1 spent on travel and drugstore purchases (in place of the transit category).

Grocery, gas, food delivery and dining purchases are kept at 5x the points for every $1 spent. That’s a lot of 5x categories!

If you use your points for travel redemptions, it’s a 3.5% return on those purchases! It’s very unusual for a credit card to offer more than 3% for travel or even drugstore purchases!

card Bmo Eclipse Visa Infinite Privilege 1

Besides, this new BMO eclipse Visa Infinite Privilege* Card comes with a $200 annual credit with a calendar year cycle.

So if you apply for this card in November 2020, you could get a $200 statement credit for 2020 and receive a new $200 statement credit in January 2021! That’s $400 you can use however you want!

It’s nearly paying for the $499 first-year annual fee. This card also comes with 6 airport lounge visits per year—about a $200 value per year, in our opinion.

Finally, note the strong insurance, especially for purchases with 120-day purchase insurance and an extended warranty of up to 2 additional years (where most cards offer only 1 year).

BMO Rewards Credit Cards

These two new credit cards are part of the BMO Rewards program. You can use your BMO Rewards points in many ways:

  • Travel
  • Pay with your points option for any purchase
  • Products or gift cards
  • Investment

Let’s analyze the two most common uses of BMO Rewards points.

Redeem your BMO Rewards Points for travel

To redeem your BMO Rewards points, you’ll need to use the BMO Rewards website. You can redeem BMO Rewards points for different types of trips:

  • flights
  • hotel nights
  • Car rentals
  • Vacation packages
  • Cruises

Prices are the same as other travel agencies.

nce-cdg – easyjet covid-08

Redeeming BMO Rewards points for travel is the best possible use of your points: 140 points = $1. So 40,000 points have a $285 value.

For example, if you spend $1,500 per month in the 5x the points categories with the new BMO eclipse Visa Infinite* Card (grocery, dining, food delivery, gas, transit), you will earn 7,500 points per month, or $54 for travel.

Over a year, you can earn almost $650 that way! Enough to pay for a flight or several hotel nights!

And 10% more if you add an authorized user to your account.

Redeem BMO Rewards points for all purchases

You can also redeem your BMO Rewards points for any purchase charged to your card for as little as $1!

Here, 200 points = $1. So 40,000 points have a $200 value.

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Conclusion

With these new Visa credit cards, BMO joins the current trend by offering its customers multiple ways to use their points.

If travel redemption remains the best value (140 points = $1), the new Pay with Points Option may be appealing to some (200 points = $1). Especially when you have earned 5x the points on many everyday purchases!

Finally, thanks to an annual statement credit you can use however you want (and not just travel like other credit cards), it’s a way for BMO to “virtually” lower the annual fee for loyal customers.

During the second year, the annual fee is equal to $70 for the BMO eclipse Visa Infinite* Card (after the $50 annual credit) and $299 for the BMO eclipse Visa Infinite Privilege* Card (after the $200 annual credit). That way, you can enjoy a credit card with reliable insurance at a lower cost!

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