Students – BMO CashBack® Mastercard®*

BMO eclipse rise Visa* Card

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Students – BMO CashBack® Mastercard®* vs BMO eclipse rise Visa* Card

Which one is better? Both cards worked out on the same spending: rewards, welcome bonus, fees and perks, line by line.

4.8

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Finly rebate

$50

3.5

Apply now Get $50 Finly rebate

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Welcome bonus

Each offer as the issuer words it. The numbers below show whether your spending reaches it.

The offer

Get up to 5% cash back in your first 3 months, up to $2,500 in spend (max $125 cashback)

Get 20,000 points when you spend $1,500 in the first 3 months - that's a $133 value!* 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 - that's just 1,000 points per month!
2,500 bonus points for paying your full credit card balance on time for 12 consecutive months.
Offer ends on January 31, 2026

What each card is worth

Rewards, the welcome bonus and any Finly rebate in, the annual fee and FX fees out, all on your spending.

Worked out on a typical $2,000 a month of spending. Enter yours to see your own numbers.

$336

First-year value

$329

$238

Every year after

$145

BMO Students CashBack is worth $7 more to you in year one.

It stays ahead after that, by $94 a year.

How the first year adds up

Annual rewards

$238.43

cash back a year

Welcome bonus

+ $97.5

first year only

Annual fee

− $0

no annual fee

First-year value

$335.93

Annual rewards

$144.8

21,612 points a year

Welcome bonus

+ $134

first year only

Annual fee

− $0

no annual fee

Finly rebate

+ $50

paid by FinlyWealth

First-year value

$328.8

0.67¢ a pointBMO Rewards, redeemed for Travel

Where each card earns

A year of your spending at each card's own reward rates, most first.

3%Groceries

$127.71

1%Recurring Transactions

$24

0.5%All other purchases

$86.72

2.5xAll categories with bonus points

12,500 pts

$83.75

0.5xAll other purchases

9,112 pts

$61.05

Fees, rates and eligibility

What each card costs to hold and to use abroad, and who it's for.

Annual fee

Additional cards

Interest rates

Purchase:

21.99%

Cash Advance:

23.99%

Balance Transfer:

23.99%

Purchase:

21.99%²

Cash Advance:

23.99%²

Balance Transfer:

23.99%²

² Terms and conditions apply. Each balance transfer is subject to a fee of 2% which will be charged to your account on the date the balance transfer is posted to your Account.

Recommended credit score

300⁎

Poor

560⁎

Fair

660⁎

Good

725⁎

Very Good

760⁎

Excellent

⁎Estimates based on Equifax scoring

300

Poor

560

Fair

660⁎

Good

725⁎

Very Good

760⁎

Excellent

⁎Estimates based on Equifax scoring

Income required

Min Personal Income:

N/A

Min Household Income:

N/A

Min Personal Income:

N/A

Min Household Income:

N/A

How each card earns

The earn rates and caps, as each issuer sets them.

3% cash back on grocery purchases (maximum $15 per statement)
1% cash back on recurring payments like bills or subscriptions (maximum $5 per statement)
0.5% cash back on all other purchases

5x points per $2 spent on eligible dining, groceries and recurring bill payments (up to $5,000 spent per category)
1x point per $2 spent on all other eligible purchases

Points and how we value them

Points become dollars at each card's best redemption. Here's the value we used, and every other way to spend them.

Loyalty program

Cash back: every dollar it earns counts as a dollar, so there's nothing to convert.

BMO Rewards

We count each point at 0.67¢ a point, what it's worth redeemed for Travel, its best value. Every dollar figure above uses that value.

Point redemption options

Nothing to redeem: it pays cash back.

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

Insurance and perks

What both cards include comes first in each list.

Insurance

Extended Warranty

1 year

Purchase Protection

90 days

Extended Warranty

1 year

Purchase Protection

90 days

Mobile Device Insurance

$1,000

Perks

Discount

Get 20% off admission to Cirque du Soleil shows touring Canada, and 15% off resident shows in Las Vegas.

Discount

Enjoy three months of Instacart+ and a $5 monthly Instacart credit when you enroll your eligible BMO Credit Card. Terms apply.

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.

Hotel Booking Discount

Save up to 7% on your Booking.com prepaid hotel or property rental bookings at booking.com/mastercardcanada.

Discount

Enjoy three months of Instacart+ and a $5 monthly Instacart credit when you enroll your eligible BMO Credit Card.*

Extra points

2,500 bonus points per year for paying full credit card bill on time for 12 consecutive months

Extra points

Another 2,500 bonus points for redeeming at least 12,000 points annually towards your statement balance with Pay with Points

Our take

Why we like it

We consider this card to be the best student credit card in Canada for it's competitive cashback rewards (3% on groceries, 1% on recurring bills), no annual fee and a generous welcome bonus. Plus, cashback redemption is flexible so no need to wait a year each time you want to get your cashback paid out.

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.