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With our BMO eclipse rise Visa review, we’ll walk you through the basics of the card and the important details you should be aware of before applying.
Who is the BMO eclipse rise Visa best for?
If you’re a student, newcomer, or someone who’s building their credit score and income, the BMO eclipse rise Visa card is a good option. You can build your credit while participating in the BMO Rewards program and enjoy basic features, such as mobile device coverage.
BMO eclipse rise Visa: The basics
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BMO eclipse rise Visa Card
Annual fee: $0
Rewards: 5x Five times the BMO Rewards points for every $2 spent on recurring bill payments, groceries, dining and takeout.
Welcome offer: Get 20,000 points and a 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee. Plus, earn up to 5,000 bonus points every year.
Card details
| Interest rates | 21.99% on purchases, 23.99% on cash advances (21.99% for Quebec residents) |
| Income required | None |
| Credit score | None |
To give you a quick idea of whether or not this card might have the features and benefits you’re looking for, check out its basic characteristics.
| Earn rates | 5 points per $2 spent at dining, groceries, recurring bills, and takeout1 point per $2 spent on everything else |
| Insurance included | Extended warrantyPurchase protectionMobile device |
| Special perks and features | Participates in the BMO Rewards programBalance transfer promotionAnnual bonus opportunity when you pay on timeWelcome bonusAvailable to students and newcomers7 cents off per litre at Shell |
| Fees | 2.5% foreign transaction fee on purchases made outside Canada. |
| Minimum credit limit | Any amount |
| Supplementary card cost | $0 |
Pros and cons of the BMO eclipse rise Visa
Every card has benefits and drawbacks to consider. Think about these points before submitting your application.
Pros:
- Easy to qualify for: Students and newcomers will find it especially easy to qualify, since there’s no income requirement.
- No annual fee: The rewards you earn are simply money back in your pocket since you’re not paying to use the card.
- Free supplemental cards: Feel free to add an authorized user to your account since there’s no additional cardholder fee.
Cons:
- Low earn rate: Compared to other no fee credit cards, this card doesn’t earn reward points as quickly, and bonus categories are limited.
- Limited insurance coverage: You’ll get basic extended warranty and purchase protection plus mobile device coverage, but no travel insurance.
- Low point value: BMO Rewards points aren’t as valuable as other reward program points, especially if you’re not using your points for travel.
BMO eclipse rise Visa rewards explained
This entry-level BMO credit card is fairly straightforward in how it earns BMO Rewards points.
You’ll get 5 points per $2 spent on:
- Dining
- Groceries
- Takeout
- Recurring bills
There might be some variation in how stores are categorized, so take a look at your bank statement to see if you’re earning increased rewards. Look for the merchant code “Grocery” or “Dining”. Warehouse clubs, big-box retailers, and discount stores may not code as grocery.
BMO caps increased earnings at $5,000 after you spend on groceries, dining, takeout, and recurring bills in a year. After you max out, you’ll continue to earn the base rate of 1 point per $2 spent.
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BMO eclipse rise Visa perks and benefits
Sometimes, a card’s features are more important than its 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 rate on it for 9 months. You will have to pay a 2% transfer fee, but the low balance transfer interest rate lets you quickly pay down your current credit card debt.
Canada’s best credit cards for balance transfers
Annual bonus rewards
BMO rewards you for making consistent payments. If you pay your balance in full every month for 12 months, you’ll get 2,500 bonus points. And, if you redeem at least 12,000 BMO points for statement credits during a year, you’ll get another 2,500 points.
Flexible redemption options
Of the three no-fee credit cards BMO offers, only the eclipse rise Visa gives 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, request gift cards or prepaid credit cards, purchase merchandise, redeem them for Apple products, or apply them towards your statement balance. The choice is completely yours.
What cardholders think
We always like to search for feedback from real cardholders, but when we turned to Reddit to learn more about the BMO eclipse rise Visa, we were surprised by the lack of discussion.
One cardholder simply said it was the best no-annual-fee travel card, and another considered applying for the card just to get the mobile device coverage.
After searching for feedback, we found most cardholders are talking about the BMO eclipse Visa Infinite, which has an annual fee but offers better earn rates in the BMO Rewards program (as well as better insurance coverage).
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Jessica Gibson
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