For the first time ever, BMO is partnering with VISA to bring you what they're calling “lifestyle” cards. These are specifically designed for maximum rewards and points redemption rates on lifestyle purchases like groceries, dining (both dine-in and delivery), gas, and transit.
Let's take a look at the two cards, what they offer, how to get one, and which one you should choose.
BMO eclipse Visa Infinite* Card
on BMO's website
Welcome Offer: Get up to 40,000 points and the $120 annual fee waived in the first year.
Earn Rate: Earn 5x the BMO Rewards points on groceries, dining, gas and transit. Get 1 BMO Reward for every $1 spent on everything else.
Perks: $50 annual lifestyle credit, $1000 mobile Device Insurance
Annual Fee: $120
Min. Income Required $60,000 personal or $100,000 household
BMO eclipse Visa Infinite Privilege* Card
on BMO's website
Welcome Offer: Get up to 50,000 points.
Earn Rate: Earn 5x the BMO Rewards points on groceries, dining, drugstore purchases, gas and travel. Get 1 BMO Reward for every $1 spent on everything else.
Perks: Get a $200 annual lifestyle credit to spend however you want. Mobile Device Insurance that covers you for up to $1,000. Pay with Points by browsing your recent transactions & redeem your points for as little as $1. Enjoy Priority PassTM membership and 6 lounge pass visits per year.
Annual Fee: $499
Min. Income Required $150,000 personal or $200,000 household
BMO eclipse Visa Infinite* Card vs BMO eclipse Visa Infinite Privilege* Card
The first thing you're probably asking is, what's the difference between the two cards?
The quick answer is that they're relatively similar except that the BMO eclipse Visa Infinite Privilege* card comes with more perks, a larger welcome bonus, and travel benefits. However, that also comes with a larger minimum income requirement, higher annual fee, and a higher credit score requirement.
Let's take a look at the main differences between the cards.
Points Earn Rate
The eclipse cards come with some of the most generous earn rates on the market. Not only that, but they're specifically designed to earn the highest on common lifestyle purchases you're probably already making. Both cards will give you 5x the BMO Rewards points on groceries and food and gas. This includes going out for drinks, and for ordering in with your favorite food delivery apps. You'll also get 5x the points on gas and transit. (rework line, as transit only applies to VI not both)
The BMO eclipse Visa Infinite Privilege* card will give you 5x the points on two additional categories of spending: drugstore and travel.
For all other purchases, you'll get 1 BMO Reward for every $1 spent with both cards.
Add additional authorized users and earn more: If you add an additional authorized user to your account, you'll get 25% more points with the BMO eclipse Visa Infinite Privilege* card and 10% more points with the Infinite card.
Annual Fee, Welcome Bonus
Annual Fee: The BMO eclipse Visa Infinite card costs $120 per year, while the BMO eclipse Visa Infinite Privilege* costs $499 per year. The BMO eclipse Visa Infinite Privilege* card is one of the more expensive cards on the market in Canada, but the bonuses and perks are that much larger as well.
Welcome Bonus: The BMO eclipse Visa Infinite Privilege* has a welcome bonus of up to 50,000 points. The BMO eclipse Visa Infinite* has a welcome bonus of up to 40,000 points. Also, the $120 annual fee is waived for the first year.
Annual Lifestyle Credit & Other Unique Perks
Annual lifestyle credit: The annual lifestyle credit is probably one of the most unique features of the BMO eclipse cards. For every year you're a cardholder, you'll receive a $50 annual lifestyle credit to spend however you want with The BMO eclipse Visa Infinite* Card.
If you're a The BMO eclipse Visa Infinite Privilege* cardholder, you'll get $200 to spend. This, along with the awesome travel perks that are only available on this card (explained further below) is what makes this card worth the higher annual fee.
Mobile Insurance: With both cards, you'll get up to $1000 of mobile device insurance. That means you'll get up to $1000 of coverage in case your phone gets stolen, lost, or accidentally damaged.
Travel Insurance: Both cards come with a full suite of travel insurance coverage including medical, car rental, and loss damage insurance.
Travel Perks (exclusive to the BMO eclipse Visa Infinite Privilege* Card
The BMO eclipse Visa Infinite Privilege* card comes with additional travel benefits and perks that are not available on the Infinite card.
You'll get Priority PassTM membership and 6 lounge pass visits for primary cardholders and 6 lounge pass visits for every authorized user on the account per year. You'll also get Airport experiences along with Priority Security Lane, airport parking and valet service discounts at select Canadian airports. And lastly, you'll also get access to the Visa Infinite Dining Series and Visa Infinite Wine Country.
What can you do with your points?
You can use your points to pay for purchases or to pay off your statement. For example, you can get two lattes for just 2400 points, a spa treatment for 16,800 points, or 12,600 points for a monthly gym membership. You can also use your points to get merchandise from BMO's catalogue of products for cardholders.
Travel redemption: You can use your BMO Rewards points to get access to flights, hotels, car rentals and vacation packages. Redeem your BMO Rewards points for the retail price of your trip – with no markups – including all flight charges and taxes.
To put flight redemption points into context, you can stay in a 4-star hotel in Banff for roughly 25,000 points or fly from Toronto to London for roughly 74,000 points.
Requirements, How To Apply
BMO eclipse Visa Infinite*: You'll need to make at least $60,000 in personal income or $100,000 in household income annually.
BMO eclipse Visa Infinite Privilege*: You'll need to make at least $150,000 in personal income or $200,000 in household income annually.