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BMO eclipse Visa Infinite
November 4, 2020
4:58 pm
Peter
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Just came across this new BMO Visa: https://www.bmo.com/main/personal/credit-cards/bmo-eclipse-visa-infinite/

Its headline features is "5x the points" on groceries, restaurants, gas, and transit purchases.

However, unlike some other cards with big rewards claims in certain categories, a BMO Rewards point is worth 0.7 cents, not 1 cent. In comparison, you can actually redeem Amex Cobalt points for 1 cent each if you redeem against travel purchases. (I broke down the Amex Cobalt redemption options previously.)

The new BMO eclipse Visa is still interesting with its waived first year annual fee ($120 per year afterwards), 25,000 point sign-up bonus (advertised as 40,000 points, but you get the additional 15,000 on the card's first anniversary), and $50 yearly statement credit (that they're calling an "annual lifestyle credit").

Does anybody know if the 0.7 cent per point redemption rate is only for travel purchases? Is the redemption rate worse for statement credits against any type of purchase?

November 7, 2020
11:10 am
Peter
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Apparently the statement credit option on BMO Rewards is 200 points for $1 off, giving you a 0.5 cent per point redemption rate.

November 7, 2020
12:35 pm
Norman1
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I can't even find the 0.7¢ and ½¢ per point redemption rate for travel and statement credit on their web site!

BMO is not shy about the thousands of points one can earn. But, coy about how many points are needed to redeem for stuff in order for one to calculate the return.

"You could redeem 42,000 points for dinner for two at a nice restaurant." What is that? $100 dinner for two or $55 dinner for two? 0.238¢ per point or just 0.131¢ per point?

Combine that with $1 of spending per point and one gets a return of 0.238% or 0.131%. For the $1 of spending per 5 points, one gets just 1.19% or 0.655%. No wonder they are coy!

November 11, 2020
2:43 am
Loonie
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It sure doesn't justify a $120 annual fee, even if waived first year.

November 11, 2020
5:02 am
topgun
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Loonie said
It sure doesn't justify a $120 annual fee, even if waived first year.  

Never found a card that justifies a fee. I tried many cards that waived the annual fee. After collecting the reward I closed the account. Lots of the benefits you will never use.

Have a Great Day

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