ManulifeMONEY+ Visa Infinite Review
Pros
- Earn 3% cash back on grocery purchases
- Earn 2% cash back on recurring bill payments and transit purchases
- Earn 1% cash back on all other purchases
- Complimentary Airport Lounge Access
- Comprehensive Travel Insurance
- Purchase Protection and Extended Warranty coverage
- Visa Infinite privileges, including access to exclusive events, offers, and dining experiences
Cons
- $120 annual fee
- Requires a high income of at least $60,000 (individual) or $100,000 (household)
- No bonus cash back categories, limiting higher rewards potential
- No introductory offer or sign-up bonus
- Limited benefits for non-travelers
- 3% cash back on groceries capped at $15,000 annual purchases
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 ManulifeMONEY+ Visa Infinite, here’s how you earn rewards:
| Groceries | 3% |
| Specific Stores | 2% |
| All Other Spend | 1% |
How much your rewards are worth
The dollar value of your rewards depends on the specific Manulife rewards program and what you choose to redeem your points for.
For ManulifeMONEY+ Visa Infinite 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 | $4.70 |
Calculating your annual rewards
$24,000.00 annual spending x $1.40% return on spending = $336.00 annual rewards
$336.00 annual rewards – $120.00 annual fee = $$216.00 net annual rewards
Details and eligibility
| Do I qualify? | |
|---|---|
| Estimated Credit Score | 760 – 900 |
| Personal Income | $60,000.00 |
| Household Income | $100,000.00 |
| Interest Rates | |
|---|---|
| Purchase | 19.9% |
| Cash Advance | 21.9% |
| Balance Transfer | 21.9% |
| Fees | |
|---|---|
| Annual Fee | $120.00 |
| Extra Card Fee | $0 |
| Card type | Visa |
Insurance coverage
| Extended Warranty | 1 year |
| Purchase Protection | 90 days |
| Travel Accident | 500000 |
| Emergency Medical Term | 15 days |
| Emergency Medical over 65 | 3 days |
| Trip Interruption | 2000 |
| Flight Delay | 500 |
| Baggage Delay | 500 |
| Rental Car Theft & Damage | Yes |
ManulifeMONEY+ Visa Infinite Review
The ManulifeMONEY+ Visa Infinite credit card is designed to offer its users various earning potentials, benefits, and valuable perks in one package. With this credit card, Canadians can enjoy different levels of rewards for their everyday spending. Let’s discuss the earning potential, benefits, and drawbacks of this card.
1. Earning potential with the card
The ManulifeMONEY+ Visa Infinite allows you to earn cash back rewards at different rates for various spending categories. You can earn 3% cash back on grocery purchases, 2% cash back on travel and restaurant spending, and 1% cash back on all other purchases. This varied rewards structure makes it quite useful for different types of spenders.
2. Benefit 1: High Earn Rate on Groceries
The first significant advantage of this card is the 3% cash back rate on grocery purchases. This high rate increases your earning potential, especially if you frequently shop for groceries.
3. Benefit 2: No Limit on Cash Back Earned
Another advantage of the ManulifeMONEY+ Visa Infinite credit card is that there’s no cap on how much cash back you can earn throughout the year. This feature allows you to maximize your rewards as your spending increases.
4. Benefit 3: Travel Benefits & Insurance Coverage
This credit card offers a variety of travel benefits and insurance coverage for its users. With the ManulifeMONEY+ Visa Infinite, you get access to comprehensive travel insurance, including emergency medical coverage, trip cancellation, and more. These added protections add value and convenience to your travel experiences.
5. Benefit 4: Exclusive Visa Infinite Perks
The fourth major advantage of this card is access to the exclusive Visa Infinite concierge service and other Visa Infinite benefits. These perks include special access to events, unique dining experiences, and various luxury travel upgrades, adding a touch of exclusivity to your card membership.
6. Drawback 1: Annual Fee
A significant drawback of the ManulifeMONEY+ Visa Infinite credit card is its $120 annual fee. This cost might discourage those who are not likely to take full advantage of the rewards and benefits that the card has to offer.
7. Drawback 2: Limited Transfer Options
Another drawback of this card is the limited cash back redemption options. ManulifeMONEY+ Visa Infinite does not offer users the option to transfer their cash back rewards to other loyalty programs or frequent flyer miles. This can limit your reward redemption choices compared to cards with more flexible rewards programs.
8. Additional Information
It’s worth noting that the ManulifeMONEY+ Visa Infinite credit card has a minimum annual personal income requirement of $60,000 or a minimum household income of $100,000. This requirement might exclude some potential users who do not meet these criteria from accessing the card’s benefits and features.
In conclusion, the ManulifeMONEY+ Visa Infinite credit card is best suited for Canadians who heavily spend on groceries, travel, and dining. It’s ultimately up to potential users to weigh the benefits and drawbacks and consider if this card makes sense for their needs and spending habits.
Interested in other credit cards? If the ManulifeMONEY+ Visa Infinite credit card isn’t perfect for you, you might want to consider the Brim MasterCard. Plus, many Canadian’s that like the ManulifeMONEY+ Visa Infinite like the Vancity enviro Classic Visa (Low Rate Rewards), and the KOHO Easy Mastercard.
FAQ
Key benefits
- Robust cash back earnings in everyday categories
- Generous 3% return on grocery spending
- Boosted 2% cash back rate for bill payments and transit costs
- Steady 1% rewards rate on all other eligible transactions
- Gratifying complimentary access to airport lounges
- Comprehensive suite of travel insurance benefits
- Valuable purchase protection and extended warranty on eligible items
- Exclusive Visa Infinite luxury experiences and perks
- $120 annual fee for card membership
- High income eligibility requirements of $60K+ (individual) or $100K+ (household)
- Absence of bonus cash back categories narrows rewarding potential
- Lack of enticing introductory offers or new customer bonuses
- Limited utility of benefits for lifestyle not focused on travel
- 3% grocery cash back reward capped at $15K per annum
