Desjardins Cash Back Visa Review
Pros
- No annual fee
- Unlimited cash back rewards
- 2% cash back on groceries and recurring bill payments
- 1% cash back on all other purchases
- Purchase Protection and Extended Warranty
- Mobile Device Insurance up to $1,000
- Access to the Desjardins Odyssey Lounge at Montreal-Trudeau Airport
Cons
- No welcome bonus or promotional offers
- Low cash back rate on non-grocery and non-recurring bill purchases
- No travel benefits, such as points or miles
- Limited insurance coverage compared to other cards
- Not ideal for individuals with high spending habits
How you earn rewards
Each card earns rewards differently. Part of choosing your card is deciding what type of rewards you want to get. With Desjardins Cash Back Visa, here’s how you earn rewards:
| Bills | 2% |
| Restaurants / Delivery | 2% |
| All Other Spend | 1% |
How much your rewards are worth
The dollar value of your rewards depends on the specific Desjardins Group rewards program and what you choose to redeem your points for.
For Desjardins Cash Back Visa in particular, if you spend $2,000.00 per month, here’s our estimated rewards earned depending on which reward you choose:
| Redemption method | Annual rewards |
|---|---|
| Apply to statement credit | $2.47 |
Calculating your annual rewards
$24,000.00 annual spending x $1.23% return on spending = $294.00 annual rewards
$294.00 annual rewards – $0.00 annual fee = $$294.00 net annual rewards
Details and eligibility
| Do I qualify? | |
|---|---|
| Estimated Credit Score | 760 – 900 |
| Interest Rates | |
|---|---|
| Purchase | 19.9% |
| Cash Advance | 19.9% |
| Balance Transfer | 19.9% |
| Fees | |
|---|---|
| Extra Card Fee | $0 |
| Card type | Visa |
Insurance coverage
| Extended Warranty | 1 year |
| Purchase Protection | 90 days |
| Travel Accident | 10000 |
| Emergency Medical Term | 3 days |
| Emergency Medical over 65 | 3 days |
| Trip Cancellation | 500 |
| Trip Interruption | 1000 |
| Baggage Delay | 500 |
| Lost or Stolen Baggage | 500 |
| Mobile Phone Insurance | 1000 |
Desjardins Cash Back Visa Review
The Desjardins Cash Back Visa credit card offers Canadian consumers an opportunity to earn rewards on everyday spending. In this review, we’ll discuss the earning potential, benefits and drawbacks of this card, and relevant information you need to know before applying.
Earning Potential: The Desjardins Cash Back Visa card allows cardholders to earn cash back rewards on their purchases. Cardholders will earn 1% cash back on all regular purchases made with the card and can take advantage of limited-time promotional offers for additional rewards. Unlike some other credit cards, the Desjardins Cash Back Visa card does not have a tiered reward rate for different categories such as dining, travel, or groceries.
Benefit 1: One major advantage of the Desjardins Cash Back Visa card is the simplicity of its rewards structure. There are no complicated tiered or category-based earning rates, making it an attractive option for those who prefer a straightforward cash back rewards program.
Benefit 2: The Desjardins Cash Back Visa card comes with no annual fee, meaning you can enjoy the cash back benefits without having to worry about covering an annual cost.
Benefit 3: Cardholders can enjoy mobile device insurance included with this card. This feature provides coverage for eligible smartphones and tablets in the case of theft or accidental damage, offering peace of mind to users who rely heavily on their devices.
Benefit 4: Cardholders will also have access to convenient contactless payment options with Visa payWave, allowing for touch-free transactions at participating retailers. This can be particularly useful in times when minimizing physical contact is a priority.
Drawback 1: One notable drawback of the Desjardins Cash Back Visa card is its relatively low cash back rate of 1%. Compared to other cash back cards on the market that offer higher rewards rates, this could be a potential downside for some consumers.
Drawback 2: The Desjardins Cash Back Visa card does not provide additional rewards or benefits within popular spending categories such as dining, travel, or groceries, which can hinder earning potential for users who spend heavily in these areas.
In conclusion, the Desjardins Cash Back Visa credit card is a suitable option for Canadians who prefer a simple and no annual fee cash back rewards structure. However, users looking for higher rewards rates or category-specific benefits may want to explore other options in the market.
Interested in other credit cards? Canadians that like the Desjardins Cash Back Visa credit card also like the Desjardins Cash Back World Elite Mastercard. If you’re looking for other options you should consider the Desjardins Odyssey Visa Infinite Privilege, and the Desjardins Bonus Visa.
FAQ
Key benefits
- 19.9% interest rate on purchases
- 21.9% interest rate on balance transfers and cash advances
- $0 annual fee for primary cardholder
- Additional cards available at no extra cost
- Card equipped with Visa payWave for secure, contactless payments
- Online account management tools and services
- Eligibility for Desjardins Member Advantages program
- Secure, no-liability fraud protection
- Accepted at millions of locations worldwide
- Collaboration with Visa partners for exclusive perks and offers
