The BMO Eclipse Visa Infinite Privilege Card is known for its high reward points on everyday purchases like groceries, dining, and travel, and it requires a significant annual household or individual income to qualify.
In contrast, the American Express Platinum Card, while also a premium card, is often recognized for its comprehensive travel benefits and luxury perks.
The American Express card typically emphasizes experiences and exclusive access, which might appeal to a different demographic than the BMO card.
| BMO Eclipse Visa Infinite Privilege Card | American Express Platinum Card | |
|---|---|---|
| Annual Fee | $499 | $799 |
| Income Requirements | $150,000 (individual) or $200,000 (household) OR $50,000 of spend on BMO cards in last 12 months | N/A |
| Interest Rate | 20.99% for purchases; 23.99% for cash advances (21.99% for Quebec residents) | Charge Card, balance to be paid in full, however portion of your balance me qualify for lexibile payment option rate of 20.99% |
| Reward Points | 5x points on groceries, dining, drugstore purchases, gas, and travel; 25% more points with an authorized user; 1 point per $1 on other purchases | 2 points for every $1 on eligible dining and travel; 1 additional point per $1 on eligible hotel or car rental bookings with American Express Travel; 1 point per $1 in all other purchases |
| Insurance Coverage | Includes travel emergency medical, common carrier, car rental collision/loss, trip cancellation/interruption, flight delay, baggage, mobile device, purchase security, and extended warranty | Comprehensive travel insurance including medical, flight delay, baggage, car rental loss and damage; purchase protection; extended warranty; some cards may offer additional specific coverages |
| Special Partnerships | Visa Airport Companion membership with lounge visits; discounts at select airports; access to luxury hotel collection; concierge service; golf benefits with Troon Rewards | Global lounge access including The Centurion® Lounge and Priority Pass™; special benefits at Fine Hotels & Resorts properties such as complimentary breakfasts and room upgrades; exclusive dining events; Platinum Concierge service; partnerships with major travel companies for benefits and experiences; access to special events and experiences; partnership with Holt Renfrew for gift card redemptions |
Welcome Offer
BMO Eclipse Visa Infinite Privilege Card:
- Welcome Bonus: Offers a welcome bonus of 50,000 BMO Rewards points.
- Spending Requirement: To earn the welcome bonus, cardholders need to spend a minimum of $6,000 on eligible purchases within the first three months after opening the account.
- Additional Bonus: There is an opportunity to earn an extra 40,000 BMO Rewards points if cardholders spend a minimum of $100,000 within the first twelve months of card activation.
American Express Platinum Card:
- Welcome Bonus: Offers a welcome bonus of up to 100,000 Membership Rewards Points.
- Cardmembers can earn 70,000 Welcome Bonus points after charging $10,000 in net purchases to the card within the first three months of membership.
- An additional 30,000 points can be earned when making a purchase of any amount between the 14th and 17th months of membership.
- Eligibility: This offer is not available to current or former Cardmembers with this Card.
Annual Fee
- BMO Eclipse Visa Infinite Privilege Card: $499 annually.
- American Express Platinum Card: $799 annually.
Interest Rates
- BMO Eclipse Visa Infinite Privilege Card: 20.99% on purchases, 23.99% on cash advances (21.99% in Quebec).
- American Express Platinum Card: Not a traditional credit card; full payment required monthly. Flexible payment option available at 20.99%, with potential rate increases for missed payments.
Points Earning Structure
BMO Eclipse Visa Infinite Privilege Card:
- Earn 5x points on essential categories like groceries, dining (including restaurants and take-out), drugstore purchases, gas, and travel.
- Additional 25% bonus points when adding an authorized user.
- 1 point for every $1 spent on all other purchases.
- This structure is particularly beneficial for those who spend heavily in these everyday categories.
American Express Platinum Card:
- Earn 2 points for every $1 spent on eligible dining and food delivery in Canada.
- 2 points per $1 on eligible travel purchases.
- An additional 1 point per $1 on eligible hotel or car rental bookings made through American Express Travel.
- 1 point per $1 spent on all other purchases.
- This rewards structure is designed to favor frequent travelers and diners, offering accelerated points in these areas.
Rewards Redemption
BMO Eclipse Visa Infinite Privilege Card:
- Points can be redeemed for an array of rewards, including travel bookings, merchandise, gift cards, and experiences.
- Option to invest points into BMO investment accounts.
- The card offers a Pay with Points feature allowing points to be used for credit on the card statement.
American Express Platinum Card:
- Points can be used for statement credits, covering almost any purchase.
- Redeem for travel through American Express Travel, including the Flexible Points Travel Program and Fixed Points Travel Program.
- Transfer points 1:1 to several frequent flyer and other loyalty programs.
- Redeem for gift cards from premium retailers.
- American Express offers one of the most flexible points programs, making it easy to use points in a way that aligns with the cardholder’s lifestyle.
Travel Benefits
BMO Eclipse Visa Infinite Privilege Card:
- Complimentary membership to Visa Airport Companion Program and six airport lounge visits per year.
- Discounts at select Canadian airports.
- Access to luxury hotel collections and concierge services.
- The card is designed to enhance the travel experience through practical benefits and luxury touches.
American Express Platinum Card:
- Access to the American Express Global Lounge Collection, including over 1,300 airport lounges worldwide.
- $200 Annual Travel Credit for travel bookings.
- Up to $100 CAD in NEXUS application or renewal statement credits.
- Benefits at Fine Hotels + Resorts, including complimentary breakfast and room upgrades.
- Hotel Status Benefit, providing elite status in hotel loyalty programs like Hilton Honors and Marriott Bonvoy.
- Special benefits and discounts at Toronto Pearson International Airport.
- These extensive travel benefits position the American Express Platinum Card as a top choice for frequent travelers, emphasizing luxury and convenience.
Insurance Coverage
BMO Eclipse Visa Infinite Privilege Card:
- Comprehensive travel insurance including out-of-province/country emergency medical insurance, common carrier insurance, and car rental collision/loss damage insurance.
- Trip cancellation, trip interruption, and flight delay insurance.
- Mobile Device Insurance and Purchase Security/Extended Warranty Insurance.
- The insurance package is robust, offering protection for a variety of travel and purchase-related scenarios.
American Express Platinum Card:
- Extensive travel insurance coverage, including out-of-province/country emergency medical insurance, trip cancellation, and interruption insurance.
- Flight delay, baggage delay, hotel burglary, lost or stolen baggage, and $500,000 travel accident insurance.
- Car Rental Theft and Damage Insurance.
- Purchase Protection and Buyer’s Assurance Protection Plans.
- The American Express Platinum Card’s insurance coverage is comprehensive, offering a high level of protection for travel and purchases, which is a key selling point for the card.
