This is BMO's no-fee entry into its points family, built for someone early in their finances: it pays for groceries, restaurants and the monthly bills, and adds a small yearly reward for using the card responsibly. I'd point it at a student, a new grad or anyone who wants a starter card that earns a little more than a flat 1%.
What I'd want people to know first is what the points are worth. BMO values its points at 150 per dollar on travel, about 0.67 cents per point (cpp), so the headline 5 points per $2 works out to roughly 1.67% back, and only on the first $5,000 a year in each category. It is a decent starter card, not a strong earner.
Welcome offer
BMO's headline is 25,000 bonus points, verified on the BMO page on October 13, 2026. The welcome part is 20,000 points once you spend $1,500 in net purchases in the first three months, posted within 60 business days. Applications must be received by October 31, 2027.
The other 5,000 points are not a one-time bonus. They are two yearly rewards of 2,500 points each: one for paying your full statement balance on time for 12 consecutive billing periods, one for redeeming at least 12,000 points through Pay with Points within the year. New accounts also get 0.99% on balance transfers for the first 9 statement periods, with a 2% fee per transfer. The welcome bonus is cancelled if you close the card within 90 days, and it is not open to former eclipse rise cardholders or BMO cardholders switching in.
$1,500 in three months is about $500 a month, which most people reach just by moving groceries and phone and streaming bills onto the card. Set up autopay for the full balance from day one, since a single late or partial payment resets the 12-month streak for the yearly bonus.
Fees & eligibility
The card has a $0 annual fee. BMO's page lists no minimum income: you need to be a Canadian citizen or permanent resident, at the age of majority in your province, with no bankruptcy in the past seven years.
Purchases carry 21.99% interest, and cash advances and balance transfers 23.99% (21.99% in Quebec). The interest-free grace period is at least 21 days when you pay in full. Foreign currency purchases cost 2.5% on top of the network rate. Two missed minimum payments in a year push the rates to 25.99% on purchases and 28.99% on cash advances for at least 12 months, so treat this as a pay-in-full card.
Earning rewards
Three categories earn 5 BMO Rewards points per $2 (2.5 points per dollar): groceries, dining (including takeout and food delivery), and recurring bill payments such as streaming, a gym membership or a phone bill. Everything else earns 1 point per $2.
Each bonus category has its own $5,000 annual limit, counted from January 1 to December 31. Past a cap, that category drops to 1 point per $2. On top of the earn rates, the card pays 2,500 points a year for paying in full on time for 12 straight months and another 2,500 for redeeming at least 12,000 points with Pay with Points.
Redeeming rewards
BMO Rewards has no airline or hotel transfer partners, so the value comes from Pay with Points: book travel with any airline, hotel or agency on the card, then cover the charge with points. BMO prices travel redemptions at 150 points per $1, or 0.67 cpp, and that is the best fixed rate it publishes.
You can also put points against everyday purchases, a contribution to a BMO savings or investment account, merchandise or gift cards, with a minimum redemption of $1. Redeeming at least 12,000 points a year through Pay with Points is what unlocks the second 2,500-point yearly bonus, so plan to cash out regularly instead of hoarding.
Perks & benefits
The headline perk is the up to 5,000 bonus points a year, worth about $33 at the travel rate, for two habits worth having anyway: paying in full and actually using your points. The card also comes with one free BMO PaySmart installment plan every 24 months, which splits a single purchase of $100 to $1,000 into monthly payments.
You get three months of Instacart+ and a $5 monthly Instacart credit, plus Avis and Budget discounts of up to 30% and 35% off base rates when you prepay. What is missing: no lounge access, no travel credit and no foreign fee waiver.
Insurance
There is no travel insurance on this card: no emergency medical, trip cancellation, rental car or travel accident cover, and BMO says so on its page. What it does have, underwritten by CUMIS, is gadget and purchase cover.
Phones and tablets are covered for up to $1,000 per claim against loss, theft or accidental damage when bought on the card or financed through a Canadian carrier with the bill on the card. Purchases are protected against theft or damage for 90 days, and manufacturer warranties are doubled by up to 1 extra year, with a $60,000 lifetime maximum per account across both.
My take
I'd get this as a first BMO card if you want no fee and spend mostly on groceries, takeout and monthly bills; if you travel abroad or want the best no-fee return, I'd skip it.
What I like about the eclipse rise is that it rewards good habits. Paying in full and redeeming your points every year adds 5,000 points on top of the 5 points per $2 in three everyday categories, and the $1,000 mobile device cover is unusual for a free card.
The numbers are what hold it back. At 0.67 cpp the bonus categories return about 1.67% and everything else about 0.33%, with $5,000 caps per category and a 2.5% foreign fee. If you can justify $120 a year, BMO's eclipse Visa Infinite earns 5 points per dollar instead of per $2 and adds gas, transit and travel medical cover.
The good
- No annual fee, with 2.5x on groceries, dining and recurring bills
- Up to 5,000 bonus points a year for paying in full and redeeming
- $1,000 mobile device insurance on a free card
The catch
- Points worth 0.67 cpp at best, so about 1.67% in bonus categories
- $5,000 annual cap on each bonus category, 0.5x on everything else
- No travel insurance and a 2.5% FX fee