With our BMO Eclipse Rise Visa review, we’ll walk you thru the fundamentals of the cardboard and the vital details it is best to know before applying.
Who is the BMO Eclipse Rise Visa best fitted to?
If you might be a student, newbie, or someone who’s constructing their credit and income, the BMO Eclipse Rise Visa card is a superb option. While participating within the BMO Rewards program, you’ll be able to construct your credit and revel in basic features like mobile device coverage.
BMO Eclipse Rising Visa: The Basics
presented
BMO Eclipse Rise Visa Card
Annual fee: $0
Rewards: 5x Five times BMO Rewards points for each $2 spent on recurring bill payments, groceries, dining, and takeout.
Welcome offer: Get 20,000 points for 9 months and a 0.99% introductory rate of interest on balance transfers with a 2% transfer fee. Plus, collect as much as 5,000 bonus points yearly.
Card details
| Interest rates | 21.99% on purchases, 23.99% on money advances (21.99% for Quebec residents) |
| Income required | None |
| credit-worthiness | None |
To offer you a fast overview of whether this card has the features and advantages you are in search of, take a have a look at its basic features.
| Earn rates | 5 points per $2 spent on dining, groceries, recurring bills and takeout, 1 point per $2 spent on the whole lot else |
| Insurance included | Extended WarrantyPurchase ProtectionMobile Device |
| Special advantages and functions | Participates within the BMO Rewards program. “Balance Transfer” campaign. Annual bonus opportunity if you happen to pay on time. Welcome bonus. Available for college students and newcomers. 7 cents discount per liter at Shell |
| Fees | 2.5% foreign transaction fee for purchases outside Canada. |
| Minimum credit limit | Any amount |
| Additional card costs | $0 |
Pros and Cons of the BMO Eclipse Rise Visa
Each card has benefits and drawbacks that must be taken under consideration. Think about these points before submitting your application.
Advantages:
- Easy to qualify for: Qualification is especially easy for college students and newcomers as there is no such thing as a income requirement.
- No annual fee: The rewards you earn are simply a reimbursement in your pocket since you don’t pay to make use of the cardboard.
- Free additional cards: You can add a certified user to your account at any time as there is no such thing as a additional fee for the cardholder.
Disadvantages:
- Low earning rate: Compared to other fee-free bank cards, you do not collect reward points as quickly with this card and the bonus categories are limited.
- Limited insurance coverage: You get a basic prolonged warranty and buy protection, in addition to mobile device coverage, but not travel insurance.
- Low point value: BMO Rewards points are usually not as worthwhile as points from other rewards programs, especially if you happen to don’t use your points for travel.
BMO Eclipse Rise in Visa Awards Explained
This entry-level BMO bank card makes it easy to earn BMO Rewards points.
You’ll earn 5 points per $2 spent on:
- Eat
- Groceries
- Takeaway
- Recurring Bills
There could also be differences within the categorization of transactions. So take a have a look at your statement to see if you happen to get higher rewards. Search for the merchant code “Groceries” or “Restaurants.” Warehouse stores, large retailers and discount stores are usually not allowed to be labeled as food.
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BMO caps increased your earnings to $5,000 after spending on groceries, dining, takeout, and recurring bills in a 12 months. After you reach the utmost, you’ll proceed to earn the bottom 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 vital than its reward structure. This is particularly true if you happen to’re attempting to qualify for a card or transfer your existing bank card balance.
Credit transfer motion
If you’ve gotten existing bank card debt with a non-BMO issued card, you’ll be able to transfer your balance to the Eclipse Rise Visa and profit from one 0.99% rate of interest on it for 9 months. You’ll need to pay a 2% transfer fee, however the low transfer rate of interest permits you to repay your current bank card debt quickly.
Canada’s best bank cards for balance transfers
Annual Bonus Rewards
BMO rewards you for consistent payments. If you repay your balance in full every month for 12 months, you’ll receive 2,500 bonus points. And if you happen to redeem a minimum of 12,000 BMO points for statement credits over the course of a 12 months, you may earn an extra 2,500 points.
Flexible redemption options
Of the three no-fee bank cards BMO offers, only the Eclipse Rise Visa will earn you BMO Rewards points. You can redeem these for travel with any provider at the bottom price. Otherwise, you need to use the points for BMO investments, request gift cards or prepaid bank cards, purchase merchandise, redeem them for Apple products, or apply them to your statement. The alternative is entirely yours.
What cardholders think
We all the time wish to seek feedback from real cardholders, but after we turned to Reddit to learn more about Visa’s BMO Eclipse surge, we were surprised to seek out there was no discussion.
One cardholder simply said it was one of the best travel card with no annual fee, and one other considered applying for the cardboard simply to get mobile coverage.
After in search of feedback, we found that almost all cardholders are talking concerning the BMO Eclipse Visa Infinite, which has an annual fee but offers higher earning rates within the BMO Rewards program (in addition to higher insurance coverage).
