BMO eclipse rise Visa Card Review: Is It Worth It?
- Welcome Offer
- 25,000
- Rewards
- Up to 5 points per $2 spent
- Annual Fee
- $0
- Purchase Interest Rate
- 21.99%
- Cash Advance Rate
- 23.99% (21.99% for Quebec residents)
Our verdict
The BMO eclipse rise Visa is a no-annual-fee rewards card designed for everyday purchases, particularly for cardholders who spend regularly on groceries, dining and recurring bills.
We sat down with a BMO eclipse rise Visa cardholder to get a firsthand perspective on how the card works and compares to other Canadian credit cards. They particularly liked that it has no annual fee and earns extra points on recurring bills, so they moved all their bills to the card to maximize their rewards. They also told me that the card's alerts helped them quickly spot an attempted fraudulent transaction and cancel the card.
However, the BMO eclipse rise Visa may not be the right fit for everyone. It earns 5X the BMO Rewards points for every $2 spent on recurring bill payments, groceries, dining out and takeout & food delivery, but just 1 point for every $2 spent on everything else. And, the cardholder finds the cash back from their BMO CashBack Mastercard more versatile than the BMO Rewards points you earn with this card.
Based on this and our own research, consider the BMO eclipse rise Visa a solid no-annual-fee option if you spend heavily in its bonus categories and can make use of the BMO Rewards offered. If not, a cash back credit card may offer better value.
Pros
-
No annual fee
-
Get up to 25,000 bonus points in your first year
-
0.99% interest rate on balance transfers for 9 months
-
Earn bonus BMO Rewards points on popular spending categories
-
No minimum income requirement
Cons
-
2% balance transfer fee
-
Check standard balance transfer rate once intro period ends
-
Lower rewards earn rate in other categories
BMO eclipse rise Visa Card pros
- No annual fee. The cardholder I spoke to already had the BMO CashBack Mastercard but was offered the BMO eclipse rise Visa as well. They wanted to build their credit score and went with the eclipse rise Visa because it has no annual fee. Having two credit cards can help your credit score by increasing your total available credit, which can lower your credit utilization ratio, as long as you keep your balances low and pay your bills on time.
- Welcome offer. Get 20,000 points for spending $1,500 on your card in the first 3 months. You can get a further 2,500 points for redeeming at least 12,000 points annually towards your statement balance with Pay with points and 2,500 points more for paying your full credit card balance on time for 12 consecutive months.
- Earn BMO Rewards points. Earn five times the BMO Rewards points for every $2 you spend on recurring bill payments, groceries, dining and takeout. You also earn one point for every $2 spent on everything else. The cardholder I spoke to moved all their recurring bills to their BMO eclipse rise Visa to take advantage of the higher earn rate.
- Spend your BMO Rewards points. You can redeem BMO Rewards points for merchandise and gift cards from popular brands, book flights, hotels, car rentals, cruises and vacation packages, or use Pay with Points to pay for eligible purchases, like gas or groceries. You can also redeem points for contributions to eligible BMO savings or investment accounts, which is what the cardholder I spoke to does.
- Purchase protection and extended warranty. Purchase protection covers eligible items you buy with your card if they are lost, stolen or damaged within 90 days of purchase. The BMO eclipse rise Visa card also doubles the original manufacturer’s warranty on eligible purchases for up to one additional year.
- 0.99% for 9 months on balance transfers. If you’re transferring a balance over to your new card, this introductory offer entitles you to an interest rate of 0.99%.
- Mobile device insurance. This card comes with mobile device insurance that provides up to $1,000 of coverage if your device is lost, stolen or accidentally damaged.
- Customizable spending and fraud alerts. The BMO Mobile Banking app lets you set alerts for purchases above a chosen amount, suspicious activity, declined transactions, approaching your credit limit and upcoming payments. The cardholder I spoke to received an alert when someone tried to use their card information for a declined transaction. This allowed them to spot the attempted fraud quickly, report it, and have their card cancelled and replaced within a few days.
- No minimum income requirement. There’s no personal income requirement you must meet to qualify for this card.
- Save on groceries. Get three months of Instacart+ and a $5 monthly Instacart credit when you enroll your eligible BMO Credit Card.
- Spread out larger purchases. Eligible BMO eclipse rise Visa cardholders get one free BMO PaySmart plan every 24 months for a purchase of $100 to $1,000. The cardholder I spoke to uses this free offer for their larger purchases, avoiding the standard fee of up to 0.9% of the purchase amount.
- Car rental discounts. Planning a vacation or a weekend away? Cardholders are also entitled to .
- Get personalized credit insights. You can check your TransUnion credit score for free and use BMO’s Credit Coach to understand the factors affecting your score, learn how to build your credit and get personalized tips to improve your credit habits. This helped the cardholder I spoke to increase their credit score by 50 points in a year.
- Points appear quickly. BMO Rewards points are calculated daily and can be deposited into your account in as little as three business days, which the cardholder confirmed.
- Balance protection coverage. Cardholders can purchase optional balance protection for up to $20,000 of their outstanding balance at a cost of $1 per $100 of balance each month.
Cons
- Less versatile than cash back. The cardholder I spoke to finds the cash back from their BMO CashBack Mastercard more versatile than BMO Rewards points. Cash back can be redeemed as a statement credit or deposited into an eligible BMO account, while BMO Rewards points have more specific redemption options, such as eligible purchases, travel and BMO savings or investment accounts.
- Good credit needed. You’ll need a good credit score of 660 or more to qualify for this card. Have bad credit? Learn about credit cards for bad credit.
- Balance transfer fee. If you take advantage of the balance transfer offer, be aware that a 2% balance transfer fee applies. Learn more about balance transfer cards.
- Introductory rate only applies for a limited time. Once the introductory rate ends after 9 months, the balance you transferred will be subject to an interest rate of 23.99% (21.99% in Quebec).
- Lower rewards earn rate in other categories. Outside the four main spending categories for rewards (recurring bill payments, groceries, dining out and takeout & food delivery), this card only allows you to earn one point for every $2 spent on all other purchases.
- No travel insurance. This card doesn’t come with any complimentary travel insurance, but BMO says it provides cost-effective options.
Alternatives
Welcome Offer
15,000 points
Rewards
Up to 5x points per $1 spent
Annual Fee
$191.88
Credit Score
700
Welcome Offer
Up to 5% cash back
Rewards
Up to 2% cash back
Annual Fee
$0
Credit Score
650
BMO eclipse rise Visa Card interest rates
| Interest type | Interest rate |
|---|---|
| Purchase rate | 21.99% |
| Cash advance rate | 23.99% (21.99% for Quebec residents) |
| Introductory balance transfer rate (first 9 months) | 0.99% |
| Standard balance transfer rate | 23.99% (21.99% for Quebec residents) |
What are the eligibility requirements of the BMO eclipse rise Visa Card?
- Be a Canadian citizen or a permanent resident
- Be the age of majority in your province or territory of residence (18 or 19)
- Have not declared bankruptcy within the past seven years
- Have a good to excellent credit score of 660 or higher
What are the required documents?
- Your name, address and contact details
- Your Social Insurance Number (SIN) and date of birth
- Your employment information
- Your financial information, including details of any debts and assets
What’s the application process like?
- Click on the Go to site button at the top of this page to be securely directed to the BMO eclipse rise Visa Card application form.
- Review the eligibility requirements and confirm that you meet them. You’ll also need to indicate whether you already have a BMO debit card and a Canadian address.
- Review the Disclosure Statement for full details of this card’s fees, rates and features, then confirm you agree.
- Enter your full name and contact details.
- Search for your address and indicate whether you rent or own your home. You’ll also need to provide your monthly payment and how long you’ve lived at your current address.
- Choose whether to provide your SIN to verify your identity right away.
- Provide your employment status, occupation category, position, length of employment, work phone number, income, income source and any additional household income.
- Choose whether to add another cardholder and optional balance protection coverage.
- Confirm your details, read the BMO eclipse rise Visa Terms & Conditions and submit your application.
How safe is the BMO eclipse rise Visa Card?
The BMO eclipse rise Visa Card uses chip technology for added security. Its encrypted microchip provides protection against counterfeiting, while creating a PIN provides an extra layer of security. BMO also has its own Financial Crimes Unit to monitor and manage security threats 24/7.
The card also offers protection when shopping online. Look for the Visa Secure badge at participating retailers to enjoy the peace of mind of knowing your online purchases are secured against unauthorized card use. You’re also covered by Visa’s Zero Liability protection for eligible unauthorized transactions.
Frequently asked questions
Your reviews
