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BMO eclipse Visa Infinite Privilege* Card Review

Author: Priyanka Correia, BComm

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Priyanka Correia, BComm

Senior Editor at Loans Canada

As a senior member of the Loans Canada team, Priyanka Correia is committed to empowering Canadians with the knowledge they need to make smart financial choices.
Expertise:

• Personal finance
• Consumer borrowing
• Consumer banking
• Debt management

Reviewed By: Caitlin Wood, BA

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Caitlin Wood, BA

Editor-in-Chief at Loans Canada

Caitlin Wood has more than a decade of experience helping Canadian consumers learn how to take control of their finances. Expertise:

• Personal finance
• Consumer borrowing
• Credit improvement
• Debt management

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Updated On: September 1, 2022

ⓘ Ad Disclosure

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. 

• BMO eclipse Visa Infinite* Card
• BMO eclipse Visa Infinite Privilege* Card

Below we’ll be taking a look at the BMO eclipse Visa Infinite Privilege* Card; a Visa card with exclusive privileges. 

BMO eclipse Visa Infinite Privilege* Card

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.

BMO eclipse Visa Infinite Privilege* Card Rewards 

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: 

• Earn 35,000 BMO Rewards points by spending at least $5,000 on your account within the first 3 months of opening your account. 
• Earn a 1-year anniversary bonus of 15,000 BMO Rewards points when you keep your account open for 12 months and in good standing.

Learn how to choose the right credit card for you.

How to Calculate The Value of Your BMO Rewards Points

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. 

Supplementary Card

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.

BMO eclipse Visa Infinite Privilege* Card Perks

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.  

• Annual Credit  –  Every year you keep your BMO eclipse Visa Infinite Privilege* Card open, you’ll be eligible for a $200 credit. The $200 credit will directly be applied to your account once you’ve made a total purchase of $200 or more.  
• Mobile Device Insurance – Cellphones are expensive, and repairs can easily cost you a few hundred dollars if you mistakenly break or damage it. But with the BMO eclipse Visa Infinite Privilege* Card insurance, your mobile device will be covered up to $1,000.  
• Privilege Concierge – With the BMO eclipse Visa Infinite Privilege* Card you’ll have access to a personal assistant to cater to your needs. 
• Priority Pass Membership – The Priority Pass membership gives users 6 free airport lounge visits for themselves or their guests. Additional visits will cost you $32 USD. 
• Airport Discounts –  Gain access to Priority Security Lane, airport parking, and valet service discounts. 
• Dining and Wine Events – Through BMO’s Visa Infinite Dining Series and Visa Infinite Wine Country, you’ll gain access to exclusive wine and dining events. 

Redeeming Your BMO eclipse Visa Infinite Privilege* Card Reward Points

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 come 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 for 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: 

• Firstly, sign in to bmorewards.com.
• Secondly, go to the “Pay with Points” tab.
• Thirdly, choose which transaction you would like to pay with your points on your account.
• Fourthly, select how many points you’d like to use to cover the cost of your purchase. You can choose to cover as little as $1 dollar if you want to.
• Lastly, enjoy the reward, whether it’s big or small.

BMO eclipse Visa Infinite Privilege* Card Overview

BMO eclipse Visa Infinite Privilege* Card Eligibility 

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.

Should You Apply for the BMO eclipse Visa Infinite Privilege* Card?

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 larger extravagant luxuries.