When it comes to building your financial future, why not get rewarded for the things you already do? That’s the idea behind the BMO Eclipse Rise Visa Card, a credit card that aligns with your everyday life while offering a range of benefits that can help you make the most of your spending. 

With attractive bonuses, flexible rewards, and exclusive perks like savings on gas and points for dining, groceries, and recurring bills, this card turns your usual purchases into opportunities for big rewards. Check to know all the details!

Main features of the BMO Eclipse Rise Visa Card 

The BMO Eclipse Rise Visa Card is issued by the Bank of Montreal (BMO), one of Canada’s most reputable financial institutions. It’s designed for individuals who want to be smart with their money while still enjoying the finer things in life. 

The card caters to a broad audience, particularly those who are seeking to maximize their everyday spending rewards, with an eye on both savings and experiences. You earn BMO Rewards points not just for your everyday needs but also for your wants, whether it’s dining out, grocery shopping, or even paying for your favorite streaming service. 

The card also offers exclusive access to savings at Shell gas stations and includes various insurance benefits, providing a well-rounded package of value. By rewarding the typical expenses that form part of your routine, the BMO Eclipse Rise Visa Card ensures that your financial journey is as rewarding as possible.

Understanding the annual fee 

One of the first things you’ll notice about the BMO Eclipse Rise Visa Card is its $0 annual fee, which is quite a compelling feature. Many credit cards on the market today come with an annual fee that can range from modest to quite hefty, depending on the benefits they offer. 

Deciphering credit limits

The credit limit on your BMO Eclipse Rise Visa Card is determined based on a few factors, which BMO carefully assesses during your application process. The bank takes into account your credit history, your income level, current financial obligations, and your overall creditworthiness. 

This means that individuals with a good credit score and steady income may be eligible for a higher credit limit, while others may receive a limit that reflects their ability to responsibly manage credit. Essentially, your credit limit is tailored to align with your spending habits, financial capacity, and credit reliability, creating a balance that helps you use the card to your advantage.

Advantages of the BMO Eclipse Rise Visa Card

• Welcome Bonus Points: Upon approval, you’ll start off strong with 20,000 bonus points, giving you a head start on your rewards journey.
• Earn Points on Everyday Spending: Get 5x the BMO Rewards points for every $2 spent on recurring bills, groceries, dining, and takeout – essentially, on the things you’re already buying regularly.
• Annual Bonus Points: Earn up to 5,000 bonus points annually by staying on top of your finances – get 2,500 points for making 12 consecutive on-time payments and another 2,500 points by redeeming at least 12,000 points annually towards your statement balance.

Standout advantage

One of the most striking advantages of the BMO Eclipse Rise Visa Card is the 5x points earning rate on essential categories like recurring bills, groceries, dining, and takeout. This feature stands out because it rewards you for the purchases you’re likely to make every day. 

Addressing potential drawbacks

• Interest Rates: The card comes with a standard interest rate of 20.99% on purchases and 23.99% on cash advances, which could lead to higher costs if you carry a balance.
• Limited Rewards Outside Key Categories: You earn 5x points on certain categories, but for all other purchases, you only earn 1 point for every $2 spent, which is lower than some other reward cards on the market.
• Balance Transfer Fee: While there is a low introductory balance transfer rate of 0.99%, there’s also a 2% fee on the amount transferred, which may not appeal to those looking to save on transfer costs.

Standout disadvantage

The main disadvantage of the BMO Eclipse Rise Visa Card lies in its interest rates. While the card boasts no annual fee, it does carry fairly high interest rates for purchases and cash advances. If you tend to carry a balance from month to month, these interest rates can quickly outweigh any rewards you earn. 

Eligibility criteria 

The BMO Eclipse Rise Visa Card is available to Canadian residents who meet specific eligibility criteria. To apply, you’ll need to provide your personal information, including your name, date of birth, and contact details. Additionally, BMO will require your Social Insurance Number (SIN), address, employment status, income sources, and rent or mortgage amount. 

A good credit history is also necessary to improve your chances of approval, as well as a stable income that indicates your ability to manage credit responsibly. If you meet these requirements and have the documentation ready, you’ll be able to complete your application process smoothly.

How to apply for the BMO Eclipse Rise Visa Card

Applying for the BMO Eclipse Rise Visa Card is a straightforward process. Whether you prefer doing things online or using a mobile app, BMO offers you flexible options to suit your lifestyle. Before you start the application, make sure you have all the required documents and details handy. 

Via website

Applying through the BMO website is quick and efficient. Simply head to BMO’s official site, navigate to the credit card section, and find the Eclipse Rise Visa Card. Once you’re there, click on the “Apply Now” button to begin. 

You’ll need to fill out an online form with your personal details, income, and other necessary information. The site is secure, so your data remains safe, and you can track the progress of your application online. In most cases, you’ll receive a response within minutes.

Through the mobile application

For those who prefer the convenience of their smartphone, the BMO app provides a streamlined way to apply. Download the BMO mobile banking app from the Apple Store or Google Play, sign in or create an account, and head to the credit card section. 

The app guides you step by step, making it easy to apply for the Eclipse Rise Visa Card. You can upload any necessary documents directly through the app, and once submitted, you can monitor the status of your application at your fingertips.

Through the store/branch

While digital methods are convenient, you may prefer a more personal touch, and that’s where in-branch applications come in. Visit any BMO branch and speak to a financial advisor who will assist you through the entire process. 

This option is ideal if you have questions or would like advice on how the card fits into your overall financial strategy. The advisor will ensure that your application is complete and help you get the process moving quickly and accurately.