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 Vancity Enviro Classic Visa (Low Rate), here’s how you earn rewards:
How much your rewards are worth
The dollar value of your rewards depends on the specific Vancity Enviro rewards program and what you choose to redeem your points for.
For Vancity Enviro Classic Visa (Low Rate) in particular, if you spend $2,000.00 per month, here’s our estimated rewards earned depending on which reward you choose:
Calculating your annual rewards
$24,000.00 annual spending x $0.00% return on spending = $0.00 annual rewards
$0.00 annual rewards – $25.00 annual fee = $$-25.00 net annual rewards
Details and eligibility
|Do I qualify?|
|Estimated Credit Score||725 – 759|
|Extra Card Fee||$0|
|Extended Warranty||1 year|
|Purchase Protection||90 days|
Vancity Enviro Classic Visa (Low Rate) Review
The Vancity Enviro Classic Visa (Low Rate) credit card offers a range of benefits to its cardholders, along with some earning potential for those who wish to keep their interest costs low. In this review, we will discuss the card’s earning potential, benefits, drawbacks, and other relevant information for prospective users.
The Vancity Enviro Classic Visa (Low Rate) does not have a rewards program and does not offer points or cash back for spending in various categories. Its main feature is the low interest rate for cardholders, which helps users save money on interest charges if they carry a balance.
Benefit 1: Low Interest Rate
The first major advantage of this card is the low interest rate of 11.25% on purchases and cash advances, helping cardholders minimize their borrowing costs should they need to carry a balance on the card.
Benefit 2: No Annual Fee
The second major advantage is the absence of an annual fee. This feature is particularly appealing for those who seek to lower their credit card fees and want a straightforward, cost-effective payment option.
Benefit 3: My Visa Rewards Plus Program Participation
The third major advantage is that cardholders are automatically enrolled in the My Visa Rewards Plus Program. While not a direct earning opportunity with the card, this program gives access to various discounts and promotions available at participating retailers, adding value for its users.
Benefit 4: Support for Local Community Initiatives
The fourth major advantage is the card’s environmental focus. The Vancity Enviro Classic Visa (Low Rate) supports local community initiatives by donating a portion of its profits to the Vancity Community Foundation, resulting in a positive social impact for environmentally-conscious cardholders.
Drawback 1: Lack of Rewards Program
One significant drawback of the card is the absence of a rewards mechanism. Cardholders do not earn points or cash back based on their spending, making it less suitable for those looking to receive direct benefits from their credit card usage.
Drawback 2: Lack of Perks and Insurance Coverage
Another significant drawback is the lack of perks and insurance coverage, such as travel insurance, purchase protection, and extended warranty coverage. These features are commonly found in other credit cards, so users seeking additional benefits may wish to explore alternative options.
In conclusion, the Vancity Enviro Classic Visa (Low Rate) credit card is designed for those focused on reducing borrowing costs through a low interest rate and avoiding annual fees. While its rewards potential is limited, it is fuelling a conscious community effort, offering an environmentally responsible choice and access to an external rewards program. Always consider your spending habits and desired features when selecting the right credit card.
Interested in other credit cards? If the Vancity Enviro Classic Visa (Low Rate) credit card isn’t perfect for you, you might want to consider the Vancity enviro Gold Visa. Plus, many Canadian’s that like the Vancity Enviro Classic Visa (Low Rate) like the Vancity enviro Visa Classic with Vancity Rewards, and the Vancity Enviro Visa Infinite.
- 11.25% interest rate on purchases
- 11.25% interest rate on cash advances
- 0% annual fee
- Earn 1 My Visa Rewards Plus point for every $2 spent
- Redeem points for charitable donations, travel, gift cards, or merchandise
- Up to $10,000 purchase security on eligible items
- Extend manufacturer’s warranty up to 1 additional year
- 24/7 emergency card assistance
- Optional Vancity balance protection
- Vancity re-usable shopping bag
- Environmentally conscious choice