Credit cards can often be more than just a tool for payments—they can provide a variety of perks and rewards that enrich your daily life. The BMO eclipse Visa Infinite* Card is an exceptional example of a credit card that aims to reward you for the ordinary moments in life. Whether it’s picking up groceries, ordering takeout, or even filling up your gas tank, this card has you covered with impressive rewards.
In this article, we’ll explore the key features, benefits, and requirements of the BMO eclipse Visa Infinite* Card. You’ll learn how the annual fee works, how the credit limit is determined, and who can apply for the card. We’ll also dive into the standout advantages and any potential disadvantages to help you decide if this card is the right fit for you.
Key information about the credit card
How does the annual fee work?
The BMO eclipse Visa Infinite* Card comes with a standard annual fee of $120. However, one of the standout aspects of this card is the fact that the annual fee is waived for the first year as part of the welcome offer. This allows new cardholders to experience the benefits and rewards without any upfront cost for the initial 12 months.
How is the credit limit determined?
When applying for the BMO eclipse Visa Infinite* Card, your credit limit will be based on your individual or household income, as well as your credit history. The minimum income requirement for this card is $60,000 for an individual or $100,000 for a household. Alternatively, if you have declared an annual spend of at least $15,000, you may also qualify.
The credit limit is typically determined during the application process, where BMO evaluates your creditworthiness and financial standing. For those with strong credit and stable income, a higher credit limit is likely to be approved. Keep in mind that the limit may be adjusted over time, depending on your credit utilization and payment history.
Advantages of the credit card
- 5x points on everyday spending: Earn 5x the points on categories such as dining, groceries, gas, and transit. This means you can rack up points quickly on the things you need the most.
- Annual lifestyle credit: Enjoy a $50 annual lifestyle credit that can be used on a variety of experiences, from dining out to spa treatments.
- Visa Infinite perks: Access to exclusive Visa Infinite benefits like the Luxury Hotel Collection, the Visa Infinite Dining Series, and discounts at select golf resorts.
- Comprehensive insurance coverage: Get peace of mind with mobile device insurance, extended warranty protection, purchase security, and travel insurance that covers emergency medical expenses and rental car damage.
- Shell fuel discounts: Save up to seven cents per litre on Shell fuel purchases, a valuable perk for those who frequently drive.
Standout advantage
One of the standout advantages of the BMO eclipse Visa Infinite* Card is its 5x points on everyday purchases, particularly in essential categories like groceries, dining, gas, and transit. This makes the card ideal for individuals or families who spend heavily in these areas, allowing them to accumulate rewards faster than with other cards.
Disadvantages
- High annual fee: After the first year, the $120 annual fee can feel steep if you don’t take full advantage of the rewards and benefits.
- Income requirement: The minimum income requirement of $60,000 (individual) or $100,000 (household) may make it inaccessible for some applicants.
- Limited international benefits: While the card offers strong rewards for everyday domestic spending, its benefits for international travelers are not as robust as other premium cards.
Standout disadvantage
The primary disadvantage of the BMO eclipse Visa Infinite* Card is its relatively high income requirement. With a minimum income of $60,000 for individuals and $100,000 for households, it may not be the most accessible option for those with lower earnings. This restricts access to the card’s excellent rewards and perks, making it more suitable for higher-income individuals.
Who can apply for this card?
To apply for the BMO eclipse Visa Infinite* Card, you must meet a few key requirements. First, you need to be a Canadian resident and have reached the age of majority in your province or territory. The minimum income requirement is $60,000 for individuals or $100,000 for households, which means the card is targeted at higher-income earners. Alternatively, if your current annual spend is at least $15,000, you may also qualify.
It’s important to note that this card is not generally available to individuals with bad credit or those who are currently dealing with financial issues like bankruptcy. BMO requires applicants to have a strong credit score and good standing with creditors. Additionally, you will need to provide proof of income during the application process, such as pay stubs or tax returns.
How to apply for the BMO eclipse Visa Infinite* Card
For the website
To apply online, simply visit the BMO website and navigate to the credit card section. From there, you can select the BMO eclipse Visa Infinite* Card and start the application process. The website will guide you through each step, asking for basic personal information like your name, address, and employment details. You will also need to provide your income information and authorize a credit check. Once you submit your application, BMO typically responds with a decision within 60 seconds.
Through the app
You can also apply for the card through BMO’s mobile app. After logging in or creating a new account, go to the credit card section and follow the prompts to apply for the BMO eclipse Visa Infinite* Card. The app offers the convenience of applying on the go, and you can track the progress of your application directly within the app.
At the branch
For those who prefer a face-to-face experience, you can apply for the card at any BMO branch. Simply bring your identification and proof of income, and a representative will assist you with the application process. This option is ideal if you have questions about the card or need personalized assistance.
