Brim MasterCard Review

4.40

$0

Annual Fee

$312

Annual Rewards

N/A

Intro Offer

$0

Annual fee

$312

Annual rewards

N/A

Intro offer


Pros


  • No foreign transaction fees
  • Earn rewards on all purchases
  • Points can be redeemed for statement credits
  • No annual fee
  • Includes free Boingo Wi-Fi access
  • Mobile device insurance coverage
  • Purchase protection and extended warranty

Cons


  • Limited acceptance outside of Canada
  • Weak customer support reported by some cardholders
  • Rewards rate is lower compared to some other cards
  • No travel-oriented perks like airport lounge access or travel insurance
  • Requires good credit to qualify

Performance test results

At DollarWise, for each credit card we test 7 different factors including the rewards, value for money, perks, insurance, strengths and weaknesses of the card.

You can see our full testing methodology here to learn why we’re the most trusted source for credit card reviews.

The Brim MasterCard has earned a 4.40 DollarWise Rating out of 5. This score is based on a weighted average of the two highest scoring factors (excluding acceptance and approval).

Rewards

Fees

Perks

Interest rates

Insurance

Acceptance

Approval

The highest scoring categories for the Brim MasterCard are fees and interest.

These factors are weighted 70% to the highest scoring factor and 30% to the second highest score to get an overall review score.

This weighting allows us to judge cards on their merits and the customers they are designed for.

For the Brim MasterCard the most important factors for scoring this card are its fees and interest.

Rewards

With the Brim MasterCard, here’s the rates at which you earn rewards for different spending categories per dollar you spend:

Bills1%
Pharmacy1%
Gas1%
Groceries1%
Restaurants1%
Specific Stores7%
Travel1%
All Other Spend1%

Calculating your annual rewards

We estimate that spending $2,000 per month with the Brim MasterCard would earn $312 in rewards over the year.

Our performance testing research uses an accurate estimation of the average Canadian households spending patterns to predict the rewards a card will earn.

We found that you’d earn this per category:

Specific Stores$84
All Other Spend$228

Our study investigating the value found that each dollar spent on the Brim MasterCard is worth up to $0.00, depending on how you redeem.

This $312 in rewards value puts the Brim MasterCard in the bottom 50% of credit cards in Canada based on rewards earned.

The average credit card in our database earns $337 in rewards for the same spend that the Brim MasterCard earns $312 in rewards value.

We can compare this card to other options by looking at the earn rate by category.

This earn rate is the percentage return that you would get when you spend on this card, assuming you redeem at the predicted maximum value.

For example, if a card earned 5 points per dollar on gas and each point is worth up to $0.02, then the earn rate is 5 points multiplied by $0.02 each, divided by the dollar you spent.

In this example, that’s a 10% earn rate on gas.

SpendThis CardAverage
Bills1.00%1.25%
Pharmacy1.00%1.17%
Gas1.00%1.48%
Groceries1.00%1.71%
Restaurant1.00%1.53%
Store7.00%1.94%
Travel1.00%1.19%
Other1.00%1.08%
Above, we’ve calculated the earn rate for the Brim MasterCard for every spend category and compared it to the average for all Canadian credit cards.

For an annual spend of $24,000, we estimated annual rewards value at up to $312.

That’s equivalent to a 1.30% return on spending.

The Brim MasterCard has an annual fee of $0. After deducting this, we predicted net annual rewards of $312.

This puts it in the top 40% of credit cards for net rewards after fees.

In comparison, the average card earns net annual rewards of $254.

Fees

The Brim MasterCard has a $0 annual fee.

The average card charges $85. So, the Brim MasterCard is in the bottom 50% of cards based on the cost of the annual fee.

Perks

We manually review the perks of each credit card to determine how they compare to other cards.

The Brim MasterCard scored a 1.2 out of 5 for perks, putting it in the bottom 50% of cards.

The average card scores 1.6 out of 5 for perks.

Interest Rates

Purchase19.99%
Cash Advance21.5%
Balance Transfer19.99%

The average (median) credit card has a purchase interest rate of 19.99% and so the Brim MasterCard charges {{purchase_interest_diff}} than the average.

For cash advances it costs 21.5% compared to the average of 19.96%.

Testing the Brim MasterCard with a $2,000 starting balance, you can see in the graph how the {{purchase_interest_diff}} in interest rates impacts the interest over a year, compared to the average card.

Insurance coverage

InsuranceThis CardAverage
Extended Warranty1 year1 year
Travel Accident$300,000$500,000
Event Cancellation$1,000$1,000
Mobile Phone Insurance$500$1,000
Price Protection Insurance90 days90 days

We scored it 3.0 out of 5 for insurance.

It offers 5 types of insurance, whereas the average card has 5 types of coverage.

Approval and qualifying

Do I qualify?
Estimated Credit Score660 – 724
Personal Income$15,000
Household Income$0
Fees
Annual Fee$0
Extra Card Fee$0
Card typeMasterCard

We scored it 3.0 out of 5 for approval.

We predict that you will require a credit score of at least 660 to qualify for the Brim MasterCard, while the average card requires 652 to qualify.

This puts it in the top bottom 50% of cards by approval difficulty.

The personal income requirements are $15,000, while the average card requires $23,896.

This puts it in the top 30% of cards by the income required to qualify.

The Brim MasterCard credit card offers a unique rewards system to Canadian consumers, allowing them to make the most out of their spending in various categories.

In this review, we will dive into the details of the Brim MasterCard, assess its earning potential, list four significant benefits and two notable drawbacks, and review other relevant factors to provide a comprehensive overview of this popular card.

Earning potential with the Brim MasterCard

The Brim MasterCard allows cardholders to earn points on every purchase. The card earns one point per dollar spent on all purchases. Although the rewards rate does not vary by spending category, shoppers can still accumulate valuable rewards just by using their card consistently for everyday purchases.

Benefits

  1. No Foreign Transaction Fees: One of the major advantages is the fact that there are no foreign transaction fees. This means users can enjoy a more cost-effective experience when shopping or travelling internationally.
  2. Flexible Installment Plans: Boon Terms is a key feature of the Brim MasterCard, which offers flexible installment plans. Cardholders can pay off their balance in smaller monthly payments without incurring additional fees or interest.
  3. No Annual Fee: No annual fee is charged, allowing customers to take advantage of the card’s features without the burden of an ongoing expense.
  4. Convenient Mobile App: The Brim MasterCard offers a convenient mobile app for both iOS and Android users, enabling cardholders to access their account and manage transactions anytime and anywhere.

Drawbacks

  1. Generic Rewards Structure: A major drawback of the Brim MasterCard is the lack of rewards and features tailored to specific spending categories, which might limit the earning potential for some users.
  2. Low Base Rewards: The base rewards rate of 1 point per dollar spent is lower than many other credit cards in the market, making it less appealing for those who prioritize earning high rewards.

Additional information

One extra point worth noting is that the Brim MasterCard provides users with a simple and straightforward rewards system, ensuring that customers can easily earn and redeem points without navigating a complex structure.

This can be appealing to those who prefer a more streamlined approach to their credit card rewards.

In conclusion, the Brim MasterCard offers some useful benefits such as no foreign transaction fees, a modern mobile app, and easy-to-understand rewards system.

However, it might not be the best option for those who primarily focus on maximizing rewards for certain categories or desire a higher overall earning rate. It’s essential to consider individual preferences and spending habits before deciding if the Brim MasterCard is the right choice.

Is the Brim MasterCard not convincing you? Consider the KOHO Essential Mastercard or the Triangle World Elite Mastercard. Still not the right credit card? Make sure not to miss the KOHO Extra Mastercard.

FAQ

With the Brim MasterCard credit card, you can redeem your points for a variety of rewards. These include:

  • Travel: Use your points to book flights, hotels, car rentals, or vacation packages through the Brim Travel portal.
  • Merchandise: Redeem your points for a wide array of products from top brands, including electronics, appliances, fashion items, and more.
  • Gift Cards: Use your points to purchase gift cards from popular retailers and restaurants.
  • Statement Credits: Apply your points towards your credit card balance to save on future purchases.
  • Charitable Donations: Contribute your points towards a charitable cause of your choice.

Please note that the value of points may vary depending on the selected redemption option.

The Brim MasterCard credit card has a distinct advantage over many other cards in that it does not charge foreign transaction fees. Foreign transaction fees are typically fees added by the credit card issuer when you make a purchase in a foreign currency or use the card internationally.

These fees can range from 1% to 3% of your purchase amount, which can add up quickly during travels or when shopping from international merchants.

With the Brim MasterCard credit card, cardholders can enjoy fee-free foreign transactions, making it a cost-effective option for those who frequently travel or make purchases in different currencies.

This not only allows you to save on additional fees but also offers a convenient and efficient way to manage your spending while abroad.

The Brim MasterCard credit card does not have a minimum income requirement, making it accessible for a wide range of applicants with various income levels. Unlike some other credit cards, the Brim MasterCard focuses on other eligibility factors to approve applicants.

Key benefits

  • 1% cash back on every purchase
  • 5% cash back in bonus categories (rotating quarterly)
  • $150 sign-up bonus after spending $500 within first 3 months
  • 0% introductory APR on purchases for 12 months
  • 3% balance transfer fee
  • 2% cash back on up to $1,000 in grocery store spending per quarter
  • No limit on the cash back amount earned
  • Cardholders receive access to Visa Signature Concierge service
  • $0 annual fee
  • Default interest rate of 14.99%-25.99% variable, based on creditworthiness
  • Free credit score monitoring available through online account access
  • Zero fraud liability and 24/7 fraud protection monitoring
  • Emergency card replacement and cash disbursement services

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