To the point
BMO announces major changes for 2025, including a new spending requirement of $15,000 for the annual fee waiver and more restrictive limits on the Eclipse card.
BMO has announced several important changes to its credit card portfolio.
These changes primarily concern two elements: the conditions to receive a waiver on annual fees with a banking package and the reward limits of the BMO Eclipse Visa Infinite* Card.
New Spending Requirement for the Annual Fee Waiver
Starting May 1, 2025, BMO is introducing a new condition to receive the annual fee waiver for the Privilege and Performance banking packages. Cardholders will need to make eligible purchases of at least $15,000 per year on their credit card to maintain this benefit.
Currently, the discount is $40 with a Performance account and $150 or $120 with a Privilege account. It applies to the following cards:
- BMO AIR MILES®† World Elite®* Mastercard®*
- BMO Ascend World Elite®* Mastercard®*
- BMO CashBack® Mastercard®* World Elite®*
- BMO eclipse Visa Infinite* Card
- BMO® Preferred Rate Mastercard®*
Eligible purchases exclude cash advances and refunds. The 12-month period for eligible purchases will be calculated between the annual fee billing dates.
Changes to the BMO eclipse Visa Infinite Card
The BMO eclipse Visa Infinite* Card card is undergoing changes to its rewards structure. Currently, the card offers 5 points per dollar on all bonus categories, up to a maximum of $50,000 in combined annual spending.
Since February 3, 2025, BMO has replaced this ceiling with individual limits for each category:
- Restaurants: $6,000 maximum
- Groceries: $6,000 maximum
- Gasoline: $20,000 maximum
- Public transit: up to $20,000
Although the total ceiling increases to $52,000, the limits imposed on the restaurant and grocery categories are particularly restrictive: this equates to a limit of $500 per month.
The limits for gasoline and public transit are more generous at $20,000 each. This structure could benefit people who drive a lot, such as business travellers.
These new limits will be calculated on a calendar year basis, from January 1 to December 31.
Changes to the BMO eclipse Visa Infinite* Privilege Card
The annual fee for the BMO eclipse Visa Infinite Privilege* Card increases from $499 to $599, with no change in benefits or rewards.
Changes to the BMO Prepaid Mastercard
The annual fee for the BMO Prepaid Travel Mastercard increases from $6.95 to $9.99. The card also features a new design.
For travellers, there are better alternatives with no annual fee, such as the Wealthsimple prepaid card, the Wise card or the EQ Bank Card. These options offer more favourable exchange rates and lower transaction fees abroad.
Bottom Line
These changes to BMO cards represent a significant shift for cardholders. The $15,000 spending requirement for annual fee rebates is restrictive, especially for those who use multiple credit cards.
The new limits on the BMO eclipse Visa Infinite* Card are particularly disappointing for the grocery and restaurant categories. With a $6,000 limit per category, the card loses its appeal for families.
Only the generous $20,000 limits for gasoline and public transit remain advantageous for frequent travellers and those who commute often.
