BMO, Visa debut new loyalty credit cards
BMO Financial Group has begun a loyalty promotion in collaboration with Visa Canada. The initiative consists of the introduction of two new credit cards that will allow consumers to collect loyalty points when they make everyday purchases.
The cards are called the BMO Eclipse Visa Infinite and BMOEclipse Visa Infinite Privilege. The first card, aimed primarily at millennial-aged consumers, offer five times the loyalty points of the banks existing loyalty program for purchases of goods and services such as dining, groceries, gas, transit and rideshare services. It also offers a $50 annual “lifestyle credit,” 10% more points when a secondary cardholder is added, mobile insurance coverage, and special offers of entertainment, dining and travel experiences.
The second card is intended to provide consumers with special travel and lifestyle benefits. Users will receive the same five-times in on everyday spending purchases, as well as travel. Users will also receive a $200 annual lifestyle credit. While travelling, users will receive six lounge passes, airport parking and valet service, as well as travel insurance. When a second cardholder is added, users will receive 25% more points.
“With these new cards, we have completely re-imagined what a rewards credit card can be,” said Erminia Johannson, group head of North American personal and business banking at BMO. “We have built these cards to better fit with what Canadians are now looking for: immediate and relevant rewards. Our customers can now take advantage of cards that deliver exclusive benefits and that rewards their everyday purchases.”