5x BMO Rewards on dining, groceries, gas, and drugstores plus a $50 lifestyle credit — does the BMO eclipse beat the Amex Cobalt for everyday spending? Updated March 2025.
| Category | Earn Rate |
|---|---|
| Dining (restaurants, food delivery, bars) | 5x BMO Rewards points |
| Grocery stores | 5x BMO Rewards points |
| Gas stations | 5x BMO Rewards points |
| Drug stores | 5x BMO Rewards points |
| All other purchases | 1x BMO Rewards points |
The 5x earn rate across four major spending categories is the card's headline feature. BMO Rewards points are worth approximately 0.67 cents each when redeemed for travel (via the BMO Rewards Travel Portal), making the effective cash-back equivalent roughly 3.35% on the 5x categories — very competitive.
The BMO eclipse Visa Infinite includes a $50 annual lifestyle credit — automatically applied when you purchase eligible eligible items. This credit effectively reduces the net annual fee from $120 to $70 for most cardholders, changing the value equation significantly.
At a net cost of $70/year, the card needs to generate just $70 more in rewards value than a free card to justify the fee. Given 5x earning on groceries and dining, most moderate spenders surpass this in the first 2–3 months.
BMO Rewards points cannot be transferred to airline programs, which is the key disadvantage vs. Amex Cobalt. However, for Canadians who simply want to reduce travel costs without learning complex loyalty programs, the fixed portal redemption is refreshingly simple.
| Feature | BMO eclipse Visa Infinite | Amex Cobalt |
|---|---|---|
| Annual Fee | $120 (effectively $70 after credit) | $156 |
| Food Earn Rate | 5x (dining + grocery) | 5x (food & drink) |
| Gas Earn Rate | 5x | 1x |
| Drugstore Earn Rate | 5x | 1x |
| Airline Transfers | No | Yes (7 partners) |
| Acceptance | Visa (Costco ok) | Amex (no Costco) |
| Point Value | 0.67¢/pt (travel) | 1–2.5¢/pt (airlines) |
The BMO eclipse wins on categories (5x on gas and drugstores vs. Cobalt's 1x), lower effective cost, and Visa acceptance. The Cobalt wins on point value when transferred to airlines. Which is better depends on how you travel and redeem.
The BMO eclipse Visa Infinite is an excellent choice for Canadians who want 5x earn on a broad set of everyday categories without the complexity of airline transfers. The $50 lifestyle credit and Visa acceptance (including Costco) give it real practical advantages over the Amex Cobalt for some spenders.
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Try KOHO — Code 45ET55JSYAThe $50 annual lifestyle credit is applied automatically when you make qualifying purchases at eligible merchant categories. Historically, this has included eligible purchases at a broad range of merchants — the credit isn't restricted to specific brands or stores. BMO applies it to your annual statement as a credit. For practical purposes, treat it as an automatic $50 reduction to the net annual fee — bringing the $120 fee to an effective $70 cost, among the lowest for a card with 5x earn capability.
At $70/year effective cost and 5x on four major spending categories (dining, groceries, gas, drugstores), the BMO eclipse Visa Infinite has one of the best value propositions in its tier. A household spending $500/month in these categories earns 30,000 BMO Rewards points ($201 value) net of the effective fee — nearly 3x the return on every dollar spent in these categories compared to a no-fee 1% cash back card.
Both cards earn approximately 4% equivalent on similar categories (BMO eclipse earns 5x points worth ~3.35%, CIBC Dividend earns 4% straight cash back). The CIBC Dividend's $99 annual fee is lower than BMO eclipse's effective $70, and the CIBC card's transit category covers Uber/Lyft/rideshare. The BMO eclipse wins on Visa acceptance vs. CIBC's credit card also being Visa. The cards are very competitive — if you're a city dweller using Uber regularly, CIBC has a slight edge; if you drive and shop at a variety of grocery stores, BMO eclipse is strong.
BMO Rewards points are worth approximately 0.67 cents each when redeemed for travel through the BMO Rewards travel portal. You book travel normally (flights, hotels, rental cars) and redeem points against the cost. At 5x earn and 0.67 cents per point, the effective cash-back equivalent on dining and groceries is 3.35% — impressive for a $120 card. For non-travel redemptions (merchandise, gift cards), point value drops to 0.5 cents or less — stick to travel redemptions for maximum value.
The BMO eclipse Visa Infinite earns 5x across four broad categories that cover the majority of most Canadian households' everyday spending. Dining out, grocery shopping, filling up at the gas station, and buying prescription medications and toiletries at drug stores — these four categories often represent 60–80% of a family's monthly discretionary spending. A card that earns 5x on that much of your spending, with an effective fee of only $70/year, is genuinely hard to beat in the premium everyday spend tier.
The only gap in the BMO eclipse's coverage is travel spending — it earns just 1x on flights, hotels, and car rentals. For Canadians who travel frequently, pairing the BMO eclipse with a travel-focused card (like the TD Aeroplan Visa Infinite or RBC Avion) closes this gap. The BMO eclipse handles all domestic everyday earning; the travel card handles all trip-related spending and provides travel insurance. This two-card strategy covers virtually all Canadian spending at optimal earn rates while keeping total annual fees manageable.
Importantly, the BMO eclipse is a Visa — meaning it's accepted at Costco Canada, where Amex cards are not. For Costco shoppers who want 5x-level earning on their Costco grocery runs, the BMO eclipse is one of the very few cards that can deliver strong rewards at Canada's largest warehouse retailer. Costco spending typically represents $200–$500/month for families, making Visa acceptance at that merchant a meaningful practical advantage over the Amex Cobalt.