How Long Do E-Transfers Take?
Are you sending or receiving money via e-transfer? Find out how long you can expect to wait to have the funds deposited into your bank account.
BMO is launching two new reward credit cards in collaboration with Visa, previously BMO has exclusively issued MasterCard credit cards. Starting in October 2020, consumers will now be able to take advantage of a wide variety of perks and privileges with BMO’s newest credit cards.
Below we’ll be taking a look at the BMO eclipse Visa Infinite Privilege* Card; a Visa card with exclusive privileges.
The BMO eclipse Visa Infinite Privilege* Card is a lifestyle reward credit card that is geared toward Canadians who have a higher net worth. With an annual fee of $499 and an individual income requirement of $150,000 or a $200,000 household income, not everyone can qualify or afford this card. However, those who can will appreciate the benefits and privileges that come with the card, as the value it provides far outweighs the cost.
The BMO eclipse Visa Infinite Privilege* Card is designed in a way that caters to today’s fast-paced lifestyle. Rather than accumulating your points for years to use on travel or merchandise, users can redeem their points to treat themselves on everyday items like coffee or flowers. The BMO eclipse Visa Infinite Privilege* Card provides users with the same simplicity and point redemption flexibility as a cash back credit card.
The BMO eclipse Visa Infinite Privilege* Card comes with an accelerated earn rate of 5 BMO Reward points per dollar spent on groceries, dining, drugstore, gas, and travel. All other purchases will earn you 1 point per dollar spent. Note that the accelerated rate is only eligible on the first $100,000 spent on your account each year.
The BMO eclipse Visa Infinite Privilege* Card also comes with a 50,000 welcome bonus which values at approximately $355 dollars. You can earn this bonus in the following manner:
Learn how to choose the right credit card for you.
The dollar value of your BMO Rewards points depends on how you choose to redeem them. Redeeming your points for travel expenses will afford you the highest value with 1 point worth $0.007.
If you add a supplementary card to your account, purchases made by both you and the secondary cardholder will earn you 25% more on points. This translates to an earn rate of 6.25 BMO Rewards points per dollar spent on groceries, dining, drugstore, gas, and travel, and 1.25 points per dollar spent on all other purchases.
While the BMO eclipse Visa Infinite Privilege* Card has a hefty annual fee, it compensates by providing its users with a number of benefits, discounts and exclusive privileges that easily value over $499.
The BMO eclipse Visa Infinite Privilege* Card uses the same points system as other BMO Rewards points credit cards. As such, the value of your points will be the same as with any of their MasterCards. However, one of the main perks that comes with this card is that you can redeem your points with the flexibility and simplicity of a cash back credit card. Points are not just redeemable for travel, merchandise, or investments, but everyday purchases you make on your account.
Through BMO’s “Pay with Points” system, you’ll be able to choose when you want to use your points, what you want to pay for with your points, and how much of the purchase you want to cover with your points. Here’s how it works:
Annual Fee | $499 |
APR | 20.99% |
Cash Advances | 23.99% |
Welcome Bonus | 50,000 BMO Rewards points |
Extra Benefits | – Mobile insurance – $200 Annual credit – Priority Pass membership – Airport discounts – Dining and wine events |
While the points and benefits of the BMO eclipse Visa Infinite Privilege* Card are incredibly valuable, it is a hard card to qualify for. To obtain this card, you must have a minimum personal annual income of $150,0000 or an annual household income of $200,000. This makes the card quite exclusive as the median annual after-tax income in Canada is $61,400.
If you’d like to add a secondary cardholder to your account, the secondary cardholder must be at least 13 years of age and have a Canadian address.
Thinking of adding your child as a secondary cardholder? Check out how credit cards can help teach your child about financial responsibility.
While the BMO eclipse Visa Infinite Privilege* Card comes with a hefty annual fee of $499, the welcome bonus, accelerated earn rate and benefits far outweigh the cost. Moreover, with the BMO eclipse Visa Infinite Privilege* Card, you’ll be able to redeem your points with the freedom and flexibility of a cash back credit card. Reward yourself with small everyday purchases or on larger extravagant luxuries.
* BMO is not responsible for the accuracy of this information or for maintaining the content on this page. Please visit bmo.com for the most up to date information.
Save time and money with Loans Canada. Research and compare lenders before you apply. Share your experiences with Canada's top lenders.
Whether you have good credit or poor credit, building financial awareness is the best way to save. Find tips, guides and tools to make better financial decisions.
Are you sending or receiving money via e-transfer? Find out how long you can expect to wait to have the funds deposited into your bank account.
Almost $500 in commission-free trades. Code “50TRADESFREE”. Conditions apply.
Earn an average 5%¹ cash back at thousands of partners and at least 1%² cashback guaranteed.
Build credit while spending money with the Refresh Financial VISA card.
With KOHO’s prepaid card you can build a better credit score for just $7/month.
Check out our interview with addy; a platform that allows Canadians to invest in different properties across Canada with as little as $1.
All consultations and conversations with Loans Canada and its partners are confidential and risk-free. Speak with a trusted specialist today and see how we can help you achieve your financial goals faster. Loans Canada and its partners will never ask you for an upfront fee, deposit or insurance payments on a loan. Loans Canada is not a mortgage broker and does not arrange mortgage loans or any other type of financial service.
When you apply for a Loans Canada service, our website simply refers your request to qualified third party providers who can assist you with your search. Loans Canada may receive compensation from the offers shown on its website.
Only provide your information to trusted sources and be aware of online phishing scams and the risks associated with them, including identity theft and financial loss. Nothing on this website constitutes professional and/or financial advice.