BMO CashBack® World Elite® Mastercard® vs BMO eclipse rise Visa* Card: Which one is better?
BMO CashBack® World Elite® Mastercard®
4
BMO eclipse rise Visa* Card
3.5
Finly Rebate
Finly Rebate
Rewards Breakdown
Annual Rewards
$500.78
First Year Bonus Value
$184
Annual Fee
$120
$0
First Year Waived
Finly Rebate
$75Exclusive Offer
First Year Value
$759.78
$380.78 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$144.23
BMO Rewards
First Year Bonus Value
$134
BMO Rewards
Annual Fee
$0
Finly Rebate
$50Exclusive Offer
First Year Value
$328.23
$144.23 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included*
Extended Warranty
1 year
Purchase Protection
90 days
Lost or Stolen Baggage
$500/person, $1,000 maximum
Baggage Delay
$500/person, $1,000 maximum After 6 hours.svg)
Car Rental Damage & Theft
$65K up to 48 days
Travel Accident
$500,000
Hotel Burglary Insurance
$1,000
Emergency Out of province Medical
$5M up to 8 days per covered personFlight Delay
$500 After 4 hours delay
Insurance Included*
Extended Warranty
1 yearPurchase Protection
90 days
Mobile Device Insurance
$1,000
Extra Benefits*
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Gas Discount
Get up to 7 cents off per litre on Shell® fuel, only for BMO cardholders.
Car Rental Discount
Save up to 20% on National Car Rental® and Alamo Rent A Car® and up to 5% on Enterprise Rent-A-Car® at locations worldwide using the Car Rental Booking tool
Airport Lounge - Dragon Pass
Complimentary membership in Mastercard Travel Pass provided by DragonPass. As a member enjoy lounge access for a fee of just US$32 per person, per visit.
Roadside Assistance
Including battery boosts, flat-tire change, lockout service and towing – a $69/year value.
Hotel Booking Discount
Save up to 7% on your Booking.com prepaid hotel or property rental bookings at booking.com/mastercardcanada.
Global Data Roaming plan
With FlexiRoam, stay connected around the world without a SIM card and get up to 15% off a Global Data Roaming plan plus up to 3GB of data, without any additional charges, if apply.
Extra Benefits*
Gas Discount
Up to 7 cents off per litre on Shell® fuel if you are an AirMiles collector
Extra points
2,500 bonus points per year for paying full credit card bill on time for 12 consecutive monthsExtra points
Another 2,500 bonus points for redeeming at least 12,000 points annually towards your statement balance with Pay with Points
Interest Rates*
Purchase:
21.99%
Cash Advance:
23.99%
Balance Transfer:
23.99%
Interest Rates*
Purchase:
21.99%2
Cash Advance:
23.99%2
Balance Transfer:
23.99%2
Annual Fee*
$120
$0
First Year Waived
Annual Fee*
$0
Income Required*
Min Personal Income:
$80,000
Min Household Income:
$150,000
Income Required*
Min Personal Income:
N/A
Min Household Income:
N/A
Welcome Bonus*
Get up to 10% cash back in your first 3 months with an incremental cashback value of $194
Welcome Bonus*
Get 20,000 points when you spend $1,500 in the first 3 months 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 (2,500 bonus points for redeeming at least 12,000 points annually towards your statement balance with Pay with points + 2,500 bonus points for paying your full credit card balance on time for 12 consecutive months).
Rewards Rate*
- 5% cash back on groceries (capped at $500 spending per statement, maximum of $25 in cashback per statement cycle)
- 4% cash back on daily transit (capped at $300 spending per statement, maximum of $12 in cashback per statement cycle)
- 3% cash back on gas (capped at $300 spending per statement, maximum of $9 in cashback per statement cycle)
- 2% cash back on recurring payments (capped at $500 spending per statement, maximum of $10 in cashback per statement cycle)
- 1% cash back on all other eligible purchases.
Rewards Rate*
- 2.5x points per $1 spent on eligible dining, groceries and recurring bill payments (up to $5,000 spent per category)
- 0.5x point per $1 spent on all other eligible purchases
Loyalty Program*
N/A
Loyalty Program*
Point Redemption Options*
Not Applicable
Point Redemption Options*
Most Optimal
Travel
0.67¢ / point
Financial Products
0.67¢ / point
Entertainment
0.64¢ / point
Statement Credits (Cash)
0.5¢ / point
Gift Cards
0.48¢ / point
Merchandise
0.45¢ / point
Is this card worth it?
If you're seeking a cashback credit card, the BMO CashBack® World Elite® Mastercard® stands out for its excellent balance between rewards and benefits. It offers a robust rewards program and a comprehensive benefits list, making it a solid choice. The high first-year value is enhanced by the annual fee waiver, and those with a BMO Premium Chequing Account can enjoy continued fee waivers. While it's highly ranked for rewards alone, it may not be the absolute top choice if benefits are less important to you.
Is this card worth it?
The BMO Eclipse Rise Visa is an excellent choice for those who want to earn rewards without paying an annual fee. It offers solid bonus categories like dining, groceries, and bills, and includes rare perks such as mobile device insurance. The card is ideal for newcomers or those looking to build their credit while enjoying the benefits of a no-fee rewards card with simple, everyday earnings. If you frequently spend in the bonus categories, this card provides good value without any added costs.
Pros
- Offers one of the highest cashbacks on groceries and gas, two of the most frequently spent categories, compared to other credit cards in Canada.
- Includes roadside assistance, a rare but valuable benefit for people on the road.
- Provides a comprehensive list of insurance coverage and benefits.
- High first-year value.
Pros
- No annual fee: This card comes with no annual fee, making it an affordable option for earning rewards.
- Bonus categories: Earn 5 points per $2 spent on dining, groceries, and recurring bills.
- Mobile device insurance: Includes $1,000 mobile device coverage, a rare perk for a no-fee card.
- Welcome bonus: Earn up to 20,000 points ($134 value) after spending $1,500 in the first 3 months.
- Annual bonus points: Earn up to 5,000 bonus points yearly when you complete certain actions, such as paying your bill on time.
- Fuel savings: Save up to 7 cents per litre at Shell when you link your BMO and Air Miles accounts.
Cons
- Does not include restaurant purchases as a reward category, which is one of the most important spending categories.
- Monthly limits on cash back could be higher
Cons
- Low base earn rate: Only 1 point per $2 spent on non-bonus categories, providing a low return of 0.335%.
- Low point value: Points are valued at 0.67 cents each, reducing the overall reward potential.
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