How Do These Premium Cards Compare?
The BMO Eclipse Visa Infinite and American Express Cobalt target consumers who value high reward potential on everyday purchases. These cards have established themselves as frontrunners in the Canadian credit card market, each with distinct advantages depending on your spending patterns and redemption preferences.
The BMO Eclipse Visa Infinite excels with its accelerated point earning in common spending categories including dining, groceries, gas, and transit. This Visa product offers reliability across global merchants and includes valuable travel insurance coverage that frequent travelers appreciate. The card's additional perks like the annual lifestyle credit and authorized user bonus create a well-rounded package for cardholders seeking both everyday value and travel benefits.
American Express Cobalt takes a different approach by focusing heavily on food-related spending while offering a flexible rewards program. The card delivers exceptional value for those who spend significantly on dining and groceries, with the ability to transfer points to various loyalty programs. This flexibility often translates to higher-value redemptions for savvy travelers who understand how to maximize point transfers to airline and hotel partners.
Reward Structure Breakdown
Both cards feature accelerated earning rates in specific categories, but their structures differ in important ways that could impact your overall rewards.
The BMO Eclipse Visa Infinite offers 5 BMO Rewards points for every dollar spent on dining, groceries, gas, and transit purchases. This accelerated rate applies to the first $50,000 spent annually across these categories, after which the standard rate of 1 point per dollar applies. All other purchases outside these categories earn the base rate of 1 point per dollar spent. A standout feature includes the 10% bonus on all points earned when adding an authorized user, effectively boosting your earning potential without changing your spending habits.
The American Express Cobalt structures its rewards around food and entertainment spending. Cardholders earn 5 points per dollar on eligible food purchases including groceries, restaurants, and food delivery services. The card also rewards 3 points per dollar on streaming subscriptions, 2 points per dollar on travel-related expenses including transit and rideshares, and 1 point per dollar on all other purchases. Unlike the BMO card, Cobalt offers monthly bonus points when meeting minimum spending thresholds, providing consistent rewards growth throughout the year.
What Welcome Bonuses Can You Expect?
Welcome bonuses often provide substantial initial value that can offset annual fees and jumpstart your rewards balance. Each card approaches these introductory offers differently, reflecting their overall reward philosophies.
The BMO Eclipse Visa Infinite typically offers up to 60,000 bonus points for new cardholders. This welcome package usually includes 30,000 points after spending $3,000 within the first three months, plus additional monthly bonuses of 2,500 points when meeting spending thresholds during a specified period. Many promotional offers also include first-year annual fee waivers, adding approximately $120 in immediate value to the welcome package. This structure rewards initial spending with a substantial upfront bonus followed by sustained rewards for continued card usage.
American Express Cobalt takes a more gradual approach to welcome bonuses. Rather than providing a large one-time bonus, the card typically offers 1,250 bonus points each month you spend at least $750 during your first year. This monthly structure can yield up to 15,000 bonus points over twelve months, encouraging regular card usage and spending habits. The distributed nature of this bonus makes it particularly appealing to those who prefer predictable, ongoing rewards rather than meeting a single large spending threshold.
Cost Considerations and Interest Rates
Understanding the full cost structure helps determine whether the rewards and benefits justify the expenses associated with each card.
The BMO Eclipse Visa Infinite carries an annual fee of approximately $120, though promotional offers frequently waive this fee for the first year. Additional cards for authorized users cost about $50 annually, though this expense can be offset by the 10% bonus points earned through their spending. The card features a standard purchase interest rate of 20.99% and a cash advance rate of 23.99%, making it essential to pay balances in full to avoid interest charges that would diminish the value of earned rewards.
The American Express Cobalt structures its annual fee differently, charging $155.88 annually but billing it as $12.99 monthly. This approach makes the fee more manageable for budget-conscious consumers despite the slightly higher total cost. The card's purchase interest rate stands at 21.99%, comparable to the BMO offering. Both cards apply a 2.5% foreign transaction fee on purchases made in non-Canadian currencies, which travelers should factor into their calculations when using these cards internationally.
Which Card Offers Better Additional Benefits?
Beyond the core rewards program, premium credit cards differentiate themselves through supplementary benefits that enhance their overall value proposition.
The BMO Eclipse Visa Infinite includes a $50 annual lifestyle credit that can be applied toward dining, entertainment, travel, or shopping expenses. This direct credit effectively reduces the net annual fee to $70 when fully utilized. As a Visa Infinite product, the card provides access to exclusive benefits including the Visa Infinite Luxury Hotel Collection, special dining and entertainment experiences, dedicated concierge services, and discounts at select golf courses worldwide through the Troon Golf Benefit. These perks create additional value beyond the rewards program for cardholders who take advantage of them.
American Express Cobalt compensates for its lack of direct credits with the robust Amex Offers program. This regularly updated suite of discounts and promotions at various retailers, restaurants, and travel providers can deliver significant value throughout the year. The card's strength lies in its flexible Membership Rewards program, allowing points redemption for travel, gift cards, merchandise, statement credits, or transfers to partner loyalty programs. This flexibility enables cardholders to maximize point values through strategic redemptions, particularly when transferring to airline and hotel partners.
Travel Insurance and Purchase Protection
Comprehensive insurance coverage represents a significant value component for premium credit cards, potentially saving cardholders thousands in separate policy costs.
The BMO Eclipse Visa Infinite includes:
- Emergency medical coverage: Up to $2 million in out-of-province/country emergency medical insurance for trips up to 21 days
- Travel accident protection: Common carrier accident insurance providing coverage during travel on public transportation
- Vehicle rental insurance: Car rental collision/loss damage waiver saving approximately $20-30 daily on rental insurance
- Purchase safeguards: Extended warranty protection doubling the manufacturer's warranty up to an additional year and purchase security covering theft or damage for 90 days
The American Express Cobalt offers similar protections with some variations:
- Medical emergency coverage: Travel emergency medical insurance for trips up to 15 days
- Trip interruption insurance: Coverage for unexpected trip cancellations or interruptions
- Baggage protection: Baggage delay insurance providing reimbursement for essential items when luggage is delayed
- Purchase assurance: Coverage against theft or damage for eligible items for 90 days after purchase
Both cards provide robust protection packages, though the BMO card generally offers longer coverage periods for medical emergencies during travel, making it potentially more valuable for extended trips.
How Does Global Acceptance Compare?
Card network acceptance can significantly impact user experience, particularly when traveling internationally or patronizing smaller merchants.
The BMO Eclipse Visa Infinite benefits from Visa's near-universal global acceptance. This extensive merchant network ensures cardholders rarely encounter acceptance issues, even in remote locations or smaller establishments. Visa's widespread infrastructure makes this card particularly valuable for international travelers who prioritize reliability and convenience when making purchases abroad. The card's acceptance extends to virtually all merchants that accept credit cards, minimizing potential frustration when traveling.
American Express Cobalt operates on the Amex network, which has historically had more limited acceptance compared to Visa. While American Express has made significant strides in expanding its merchant network, cardholders may occasionally encounter smaller establishments or certain regions where Amex cards aren't accepted. This potential limitation primarily affects those who frequently patronize small businesses or travel to less-developed markets where Amex infrastructure remains limited. However, most major retailers, restaurants, and travel providers readily accept American Express cards.
Redemption Value Analysis
Point redemption value ultimately determines the real-world worth of rewards earned through everyday spending.
BMO Rewards points typically deliver approximately 0.67 cents per point when redeemed for travel through the BMO Rewards portal. This valuation means 150 points equates to roughly $1 in travel value. However, redemption for statement credits or gift cards often yields lower values, sometimes as little as 0.33 cents per point. This significant disparity makes travel redemptions clearly superior for maximizing value from the BMO Eclipse card. Cardholders should focus their redemptions on travel bookings through the BMO portal to extract maximum value from their accumulated points.
American Express Membership Rewards points offer greater flexibility and potentially higher values. When transferred to select airline or hotel partners, these points can yield values of 1 cent per point or higher, depending on the specific redemption. This transfer capability represents a significant advantage for travelers who understand how to leverage partner programs effectively. Even when redeemed directly through Amex Travel, points typically maintain better value than non-travel redemptions with the BMO program, making the Cobalt card particularly attractive for those willing to research optimal redemption strategies.
Which Card Matches Your Spending Pattern?
Your typical monthly expenses significantly influence which card will deliver superior value based on their respective reward structures.
Consider a scenario where you spend $3,000 monthly across various categories. With the BMO Eclipse Visa Infinite, if $2,000 falls within bonus categories (dining, groceries, gas, transit), you'd earn 10,000 points monthly from those purchases plus 1,000 points from the remaining $1,000 spent in non-bonus categories. This accumulates to 132,000 points annually, worth approximately $882 in travel rewards at a 0.67 cent redemption value. Adding an authorized user would boost this by 10%, potentially increasing your annual rewards to over $970 in travel value.
The American Express Cobalt might yield different results with the same spending. If $1,500 monthly goes toward 5x categories (primarily food and groceries), you'd earn 7,500 points monthly from those purchases. The remaining $1,500 might earn between 1,500-3,000 points depending on the specific categories. Combined with monthly bonuses of 1,250 points for meeting minimum spending requirements, your annual accumulation could reach 120,000+ points. When strategically transferred to travel partners, these points might deliver $1,200+ in value at a conservative 1 cent per point valuation, potentially outperforming the BMO card despite earning fewer raw points.
Lifestyle Compatibility Factors
Beyond pure mathematics, practical considerations about card acceptance and benefit alignment should influence your decision.
The BMO Eclipse Visa Infinite works best for:
- Balanced spenders: Those with significant expenses across multiple categories including dining, groceries, gas, and transit
- Global travelers: People who value widespread acceptance and minimal payment friction when traveling internationally
- Benefit maximizers: Cardholders who will actively use the annual lifestyle credit and Visa Infinite perks
- Authorized user households: Families or couples who can benefit from the 10% points bonus when adding secondary cardholders
The American Express Cobalt excels for:
- Food enthusiasts: Those who allocate substantial portions of their budget to dining out and grocery shopping
- Strategic redeemers: People willing to research and execute optimal point transfers to travel partners
- Urban dwellers: Individuals who primarily shop at major retailers and restaurants where Amex acceptance is high
- Monthly budgeters: Those who prefer the predictability of monthly fee charges rather than a single annual payment
How Can You Maximize Rewards With Either Card?
Implementing strategic approaches to card usage can significantly enhance the value derived from either program.
Successful reward maximization begins with aligning your spending with bonus categories whenever possible. For the BMO Eclipse, concentrate purchases in dining, groceries, gas, and transit categories to earn 5x points, while using a different card for categories that only earn the base rate. With the Amex Cobalt, prioritize food-related spending to capitalize on the 5x earning rate, which represents the card's strongest value proposition. Both strategies require mindful spending habits but can substantially increase your overall point accumulation without changing your total expenditures.
Adding authorized users creates different advantages with each card. The BMO Eclipse offers a direct 10% bonus on all points earned when adding a secondary cardholder, making this option particularly valuable for households with shared expenses. While the Amex Cobalt doesn't offer a specific authorized user bonus, additional cards can help meet monthly spending thresholds to earn bonus points consistently. This approach works particularly well for couples or families who can consolidate spending onto a single account to maximize rewards.
Timing large purchases strategically can help meet welcome bonus requirements or monthly spending thresholds without increasing overall expenditures. Consider delaying discretionary purchases until after receiving your new card to help meet initial spending requirements. With the Amex Cobalt's monthly bonus structure, spacing out larger purchases to ensure you meet the minimum spending requirement each month maximizes your bonus point earnings throughout the year.
Optimizing Redemption Strategies
The redemption approach significantly impacts the ultimate value derived from your accumulated points.
For BMO Eclipse cardholders:
- Always redeem points for travel through the BMO Rewards portal to secure the highest redemption value of approximately 0.67 cents per point
- Avoid statement credit redemptions which typically deliver half the value of travel redemptions
- Combine points with the annual $50 lifestyle credit to further enhance travel value
- Consider booking during promotional periods when BMO occasionally offers point discounts on certain travel bookings
For American Express Cobalt cardholders:
- Research transfer partners to identify opportunities for maximum value, particularly during transfer bonuses
- Consider transferring points to Aeroplan or Marriott Bonvoy where values can exceed 1 cent per point
- Use the Fixed Points Travel Program for economy flights to achieve predictable value
- Avoid merchandise redemptions which typically deliver lower value than travel-related options
Which Card Best Serves Your Travel Needs?
Travel benefits represent a crucial differentiator between these premium card offerings, particularly for frequent travelers.
The BMO Eclipse Visa Infinite provides comprehensive travel protection through its insurance package. The card's 21-day emergency medical coverage offers extended protection compared to many competitors, making it suitable for longer international trips. The inclusion of rental car collision coverage saves substantial daily fees when renting vehicles domestically or abroad. Visa's global acceptance network ensures seamless transactions virtually anywhere, eliminating payment concerns when traveling to remote destinations or patronizing smaller establishments in foreign countries.
American Express Cobalt compensates for its more limited acceptance with superior point transfer flexibility. The ability to transfer points to airline and hotel partners enables strategic redemptions that can significantly stretch your travel budget. While the card's emergency medical coverage extends only to 15 days, its trip interruption insurance provides valuable protection against unexpected changes to travel plans. The Amex Travel portal frequently offers competitive rates on flights and hotels, with points redemptions delivering consistent value for travelers who prefer straightforward booking processes.
Insurance Coverage Comparison
Travel insurance benefits provide important protection while potentially saving hundreds or thousands in separate policy costs.
The BMO Eclipse Visa Infinite includes:
- Medical emergency duration: Coverage for trips up to 21 days for cardholders under 65
- Coverage amount: Up to $2 million in emergency medical expenses
- Trip cancellation: Limited coverage for trip cancellation circumstances
- Car rental insurance: Comprehensive collision/loss damage waiver for rentals up to 48 days
The American Express Cobalt offers:
- Medical emergency duration: Coverage for trips up to 15 days for cardholders under 65
- Coverage amount: Up to $5 million in emergency medical expenses
- Trip interruption: More comprehensive coverage for unexpected trip changes
- Baggage delay: Reimbursement for essential purchases when luggage is delayed
Make Your Card Choice Work Harder For You
Selecting between these premium cards ultimately depends on aligning their strengths with your personal spending patterns and travel goals. The right choice delivers maximum value without requiring significant changes to your existing habits.
The BMO Eclipse Visa Infinite represents the superior option for consumers seeking reliability and straightforward rewards across multiple everyday spending categories. Its combination of accelerated earning in common expense categories, the annual lifestyle credit, and comprehensive travel insurance creates a well-rounded package. The card particularly excels for those who can benefit from adding authorized users to leverage the 10% bonus points feature. With Visa's universal acceptance, cardholders never need to worry about payment friction, even when traveling internationally.
American Express Cobalt delivers exceptional value for food enthusiasts and strategic point redeemers. The card's concentrated rewards in dining and grocery categories, combined with the flexible Membership Rewards program, can yield superior returns for those willing to research optimal redemption strategies. While acceptance limitations occasionally create inconvenience, the potential for higher-value redemptions through transfer partners often compensates for this drawback. The monthly fee structure also makes this premium card more accessible for budget-conscious consumers who prefer spreading costs throughout the year.
Both cards represent excellent options for Canadian consumers seeking to maximize their everyday spending power. By understanding your personal spending patterns, redemption preferences, and travel habits, you can select the card that will deliver the greatest long-term value for your unique situation. Remember that the best credit card isn't necessarily the one with the flashiest marketing or the highest theoretical point values—it's the one that aligns most closely with your actual lifestyle and spending behavior.
