This is BMO's top card, and the pitch is breadth: 5x on travel, dining, groceries, gas, and health and wellness, with caps high enough ($15,000 to $25,000 a year per category) that most households will not hit them. I'd point it at someone with a large everyday spend who wants one card to earn on almost everything and books their own travel.
The catch is the currency. BMO Rewards points are worth 0.67 cents each against travel, so 5x is about 3.3% back, and nothing transfers to an airline or hotel. For $599 a year with no first-year waiver, I'd want the ten lounge visits, the $200 travel credit and the missing foreign transaction fee to matter to you before applying.
Welcome offer
BMO is advertising up to 200,000 BMO Rewards points on the eclipse Visa Infinite Privilege, verified in BMO's offer terms on November 3, 2026. Applications must be received between November 2, 2026 and October 31, 2027. The ladder: 80,000 points after $10,000 in net purchases in the first 110 days, 40,000 more once you reach $20,000 within 180 days, and a final 80,000 at $40,000 within the first 12 months.
BMO puts the full 200,000 at up to $1,333 when redeemed for travel at 150 points per dollar, and builds a larger "up to $2,700" headline by adding the ten lounge visits, the NEXUS credit, the $200 travel credit, Instacart+ and the authorized-user bonus. Bonus points can take up to 8 weeks to post and can be cancelled if the card is closed within 365 days, and the offer is closed to anyone reopening this card or switching in from another BMO card.
The new ladder trades a harder start for an easier finish. 80,000 points now needs $10,000 in 110 days, about $2,750 a month, worth up to $533 in travel at BMO's rate. The full 200,000 needs $40,000 in a year instead of $75,000, about $3,300 a month, which a household putting most of its spending on this card can actually reach.
Fees & eligibility
The card costs $599 a year, with no first-year waiver, and additional cards are $99 each. Two credits soften it: a $200 travel credit once per card year, after a single air fare, hotel or car rental purchase of $500 or more, and a first-year NEXUS credit of up to $200. Adding an authorized user also lifts the accelerated earn rate by 25%.
Eligibility is the Visa Infinite Privilege bar: $150,000 personal or $200,000 household income, or at least $50,000 of spend on your other credit cards in the past year. Purchases carry 21.99% interest and cash advances and balance transfers 23.99% (21.99% in Quebec). There is no foreign transaction fee: foreign currency purchases are converted at the exchange rate without the usual 2.5% on top. The rewards only add up if the balance is paid in full every month.
Earning rewards
Five categories earn 5 BMO Rewards points per dollar: travel (air fare, hotels and car rentals), dining in and out including takeout, groceries, gas, and health and wellness (spas and massage, public golf courses, club memberships such as gyms and golf clubs, and recreation services). Everything else earns 1 point per dollar.
Each category has its own calendar-year limit: $25,000 for travel, $25,000 for dining, $20,000 for groceries, and $15,000 each for gas and health and wellness. Past a cap, that category earns 1 point per dollar until January 1. Adding an authorized user gives a 25% bonus on the accelerated rate (6.25x) for both cardholders, which BMO says stays until it notifies you otherwise.
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 within 90 days. Travel redeems at 150 points per $1, or 0.67 cents per point (cpp), the best fixed rate in the program.
Other purchases redeem at 200 points per $1 (0.5 cpp), so using points on groceries or everyday charges gives up a quarter of the value. Merchandise, gift cards, financial products and charity are also available, with a $1 minimum redemption. Phone redemptions for merchandise or financial rewards cost $7.50; online is free.
Perks & benefits
The headline perks are a Visa Airport Companion membership with 10 complimentary lounge visits a year, usable for you or travelling guests, and the $200 travel credit, paid once per card year after a single air fare, hotel or car rental purchase of $500 or more. Primary and additional cardholders enroll separately, and extra visits cost US$32 per person. In year one there is also an up to $200 NEXUS statement credit.
The Visa Infinite Privilege layer adds a priority security lane plus parking and valet discounts at select Canadian airports, the Luxury Hotel Collection, the Dining Series and Wine Country events, Troon golf and a concierge. Avis and Budget give up to 30% and 35% off base rates when you prepay, and six months of Instacart+ comes with a $10 monthly Instacart credit. Since November 2026 there is no foreign transaction fee, but still no airline status or free checked bag.
Insurance
The insurance is a full travel package, underwritten by CUMIS. Emergency medical pays up to $5 million per person for the first 22 days of a trip at age 64 or under, and only 3 days at 65 or over; the trip does not need to be charged to the card. Trip cancellation pays up to $2,500 per person ($5,000 per trip) and trip interruption up to $5,000 per person ($25,000 per trip) when the trip is paid in full or in part on the card.
Flight delays over 4 hours are covered up to $1,000 per trip, delayed bags up to $500 per person, and lost or damaged bags up to $1,000 per person ($2,500 per trip). Rentals with an MSRP up to $85,000 are covered for 48 days. Purchase security covers 120 days and manufacturer warranties are tripled, up to 2 extra years.
My take
I'd get this card if you put $30,000 or more a year across travel, dining, groceries, gas, and health and wellness and want lounge visits thrown in; if your spending fits under $6,000 each on groceries and dining, I'd take the $120 eclipse Visa Infinite instead.
What I like is how much of a big household budget the 5x list covers, and how high the caps are. At BMO's travel rate of 0.67 cpp that is about 3.3% back on most of what you spend, plus a $200 travel credit, ten lounge visits and insurance that covers cancellation, delays and bags. Since November 2026 there is also no foreign transaction fee, so it finally holds up abroad, even if purchases outside Canada only earn 1x.
I wouldn't oversell it, though. The points cannot be transferred, so there is no upside beyond 0.67 cpp, bonus earning is still Canada-only, and medical cover drops to 3 days at 65. The 200,000-point offer is big, but the first 80,000 now needs $10,000 in 110 days, so check your spending before you count on it.
The good
- No foreign transaction fee and 10 lounge visits a year
- 5x on travel, dining, groceries, gas, and health and wellness with high caps
- Full travel insurance, including cancellation, delay and baggage
The catch
- $599 with no first-year waiver
- Points worth 0.67 cpp at best, no transfer partners
- 5x only at merchants in Canada; purchases abroad earn 1x