Who is the BMO Eclipse Rise Visa best for?
BMO eclipse rise Visa: the basics
BMO Eclipse Rise Visa Card
Rewards: 5x Five times BMO Rewards points for every $2 spent on recurring bill payments, groceries, dining and takeout.
Welcome offer: Get 20,000 points and an introductory 0.99% interest rate on balance transfers for 9 months with a 2% transfer fee. Plus, you can earn up to 5,000 bonus points every year.
Map data
| Interest rates | 21.99% on purchases, 23.99% on cash advances (21.99% for Quebec residents) |
| Income required | No |
| Credit score | No |
Check out the basic features to give you a quick idea of whether or not this card has the features and benefits you’re looking for.
| Earn rates | 5 points per $2 spent on food, groceries, recurring bills and takeout1 point per $2 spent on everything else |
| Insurance included | Extended warrantyPurchase protectionMobile device |
| Special benefits and features | Participates in the BMO Rewards program Balance transfer promotion Annual bonus option for on-time payment Welcome bonus Available for students and newcomers 7 cents discount per liter at Shell |
| Costs | 2.5% foreign transaction fee on purchases outside Canada. |
| Minimum credit limit | Any amount |
| Additional card costs | $0 |
Pros and cons of the BMO eclipse rise Visa
Each card has pros and cons that you should consider. Consider these points before submitting your application.
Pros:
- Easily qualify for: It is extra easy for students and newcomers to qualify because there is no income requirement.
- No annual fee: The rewards you earn are simply money back in your pocket since you don’t pay to use the card.
- Free additional cards: Feel free to add an authorized user to your account as you will not be charged any additional cardholder fees.
Disadvantages:
- Low earning rate: Compared to other no-fee credit cards, this card doesn’t earn rewards points as quickly and the bonus categories are limited.
- Limited insurance coverage: You get an extended basic warranty and purchase protection plus mobile device coverage, but no travel insurance.
- Low point value: BMO Rewards points are not as valuable as other rewards program points, especially if you don’t use your points to travel.
BMO Eclipse Rise Visa Rewards Explained
This entry-level BMO credit card is fairly easy to earn BMO Rewards points.
You get 5 points per €2 you spend on:
- Dine
- Groceries
- To take off
- Recurring invoices
There may be some variation in how stores are categorized, so check your bank statement to see if you earn higher rewards. Search for the merchant code “Groceries” or “Dining.” Warehouse clubs, chain stores and discount stores are not allowed to code as supermarkets.
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BMO limits increased earnings to $5,000 after spending on groceries, dining, takeout, and recurring bills in a year. After you reach your maximum usage, you will continue to earn the base rate of 1 point per €2 spent.
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BMO Eclipse Rise Visa Perks and Benefits
Sometimes the features of a card are more important than the reward structure. This is especially true if you’re trying to qualify for a card or move your existing credit card balance.
Balance transfer promotion
If you have existing credit card debt with a card not issued by BMO, you can transfer your balance to the Eclipse Rise Visa and enjoy a 0.99% interest for 9 months. You’ll have to pay a 2% transfer fee, but the low transfer interest rate means you can pay off your current credit card debt quickly.
Canada’s best credit cards for balance transfers
Annual bonus rewards
BMO rewards you for consistent payments. If you pay your balance in full every month for 12 months, you’ll get 2,500 bonus points. And if you exchange at least 12,000 BMO points for settlement points during a year, you will receive an additional 2,500 points.
Flexible redemption options
Of the three free credit cards BMO offers, only the eclipse rise Visa will give you BMO Rewards points. You can redeem these for travel with any provider for the most value. Otherwise, you can use the points for BMO investments, apply for gift cards or prepaid credit cards, purchase merchandise, redeem them for Apple products, or apply them to your statement balance. The choice is entirely yours.
What cardholders think
We always like to seek feedback from real cardholders, but when we turned to Reddit to find out more about the BMO Eclipse Rise Visa, we were surprised by the lack of discussion.
One cardholder simply said it was the best travel card with no annual fee, and another considered applying for the card just to get mobile device coverage.
After searching for feedback, we found that most cardholders are talking about the BMO eclipse Visa Infinite, which has an annual fee but offers better earning rates in the BMO Rewards program (as well as better insurance coverage).
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