Triangle Mastercard Review

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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 Triangle Mastercard has earned a 4.25 DollarWise Rating out of 5. This score is based on a weighted average of the two highest scoring factors (excluding acceptance and approval).

The highest scoring categories for the Triangle 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 Triangle Mastercard the most important factors for scoring this card are its fees and interest.

Rewards

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

Calculating your annual rewards

We estimate that spending $2,000 per month with the Triangle Mastercard would earn $176 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:

Our study investigating the value found that each dollar spent on the Triangle Mastercard is worth up to $0.01, depending on how you redeem.

This $176 in rewards value puts the Triangle Mastercard in the bottom 30% 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 Triangle Mastercard earns $176 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.

For an annual spend of $24,000, we estimated annual rewards value at up to $176.

That’s equivalent to a 0.73% return on spending.

The Triangle Mastercard has an annual fee of $0. After deducting this, we predicted net annual rewards of $176.

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

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

Fees

The Triangle Mastercard has a $0 annual fee.

The average card charges $85. So, the Triangle 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 Triangle 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

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

For cash advances it costs 22.99% compared to the average of 19.96%.

Testing the Triangle 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

We scored it 0.0 out of 5 for insurance.

It offers 0 types of insurance, whereas the average card has 5 types of coverage.

Approval and qualifying

We scored it 2.5 out of 5 for approval.

We predict that you will require a credit score of at least 760 to qualify for the Triangle Mastercard, while the average card requires 652 to qualify.

This puts it in the top top 10% of cards by approval difficulty.

The personal income requirements are $0, while the average card requires $23,896.

This puts it in the top 50% of cards by the income required to qualify.

The Triangle Mastercard credit card has become a popular choice for Canadians due to its mix of features and rewards. In this review, we will break down the earning potential, benefits, drawbacks, and other relevant information for prospective cardholders.

Earning potential

Cardholders earn Canadian Tire Money (CTM) with the Triangle Mastercard. They receive 4% back in CTM on qualifying purchases at Canadian Tire, Sport Chek, and participating Mark’s stores.

In addition, 1.5% cash back is earned on eligible grocery purchases (excluding Walmart and Costco) up to $12,000 annually. All other qualifying purchases earn 0.5% back in CTM.

It is worth noting that CTM can only be redeemed at Canadian Tire stores or through the Triangle Rewards program.

Benefits

1. No Annual Fee: The Triangle Mastercard has no annual fee, making it a cost-effective option for those looking to earn rewards without incurring additional expenses.
2. Financing Options: This card offers attractive financing options for Canadian Tire shoppers. Cardholders have the opportunity to participate in no-interest financing promotions at Canadian Tire, giving them the flexibility to spread their payments over time.
3. No Foreign Transaction Fees: The Triangle Mastercard does not charge foreign transaction fees, making it a budget-friendly option for international travel or online shopping in foreign currencies.
4. Roadside Assistance: The card also includes membership in the Canadian Tire Roadside Assistance program, providing added peace of mind when driving in Canada and the United States.

Drawbacks

1. Limited Redemption Options: CTM earned with the Triangle Mastercard can only be redeemed at Canadian Tire stores and through the Triangle Rewards program. This limits the flexibility of cash back rewards compared to cards that allow for direct cash back or redemption through other retailers.
2. Lower Reward Rates for Other Categories: While the 4% back in CTM on Canadian Tire purchases is attractive, the 0.5% cash back rate on other spending categories may be less appealing to users with diverse spending habits than alternative rewards cards with higher rates in these categories.

Additional information

It’s also worth mentioning that the Triangle Mastercard provides purchase assurance, extended warranty benefits, and car rental collision/loss damage waiver benefits. These additional features add value for cardholders while enhancing the overall card experience.

In summary, the Triangle Mastercard is an excellent option for those who frequently shop at Canadian Tire, Sport Chek, and participating Mark’s stores. The no annual fee and no foreign transaction fees make the card a cost-effective choice, while the additional perks and financing options further contribute to its appeal.

However, potential cardholders should consider whether the limited redemption options and lower cash back rates on non-Canadian Tire purchases will suit their needs before applying for this card.

Not the right fit? You could consider the Stack Prepaid Mastercard. Or, if you’re looking for other options check out the Mogo Visa Platinum Prepaid Card, and the Amazon.ca Rewards Mastercard.

FAQ

Key benefits

• Zero yearly membership cost
• Accumulate Canadian Tire currency with each transaction
• Save 5¢/liter on fuel at eligible stations
• Generous 4% cashback at Canadian Tire, Sport Chek, and more
• 1.5% cashback for groceries, some exclusions apply
• Full protection from unauthorized expenditures
• Customizable in-store payment plans available
• Convenient digital account maintenance
• Absent travel rewards and insurance perks
• Modest cashback for non-Canadian-Tire spending
• Foreign purchase surcharge of 2.5%
• Grocery cashback restrictions, excluding Walmart and Costco
• Potential elevated financing plan interest rates
• Acceptance restrictions compared to Visa, Mastercard