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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 {{card.name}} has earned a {{ranking}} 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 {{card.name}} are {{score_1}} and {{score_2}}.

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 {{card.name}} the most important factors for scoring this card are its {{score_1}} and {{score_2}}.

Rewards

With the {{card.name}}, 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 {{monthlyspend}} per month with the {{card.name}} would earn {{card.rewards}} 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 {{card.name}} is worth up to {{card.max_reward}}, depending on how you redeem.

This {{card.rewards}} in rewards value puts the {{card.name}} in the {{decile.annual_rewards}} of credit cards in Canada based on rewards earned.

The average credit card in our database earns {{averages.mean_annual_rewards}} in rewards for the same spend that the {{card.name}} earns {{card.rewards}} 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 {{annualspend}}, we estimated annual rewards value at up to {{total_net_rewards}}.

That's equivalent to a {{total_earn_rate}} return on spending.

The {{card.name}} has an annual fee of {{card.annualFee}}. After deducting this, we predicted net annual rewards of {{net_after_fee}}.

This puts it in the {{decile.net_annual_rewards}} of credit cards for net rewards after fees.

In comparison, the average card earns net annual rewards of {{averages.mean_net_annual_rewards}}.

Fees

The {{card.name}} has a {{card.annualFee}} annual fee.

The average card charges {{averages.mean_annual_fee}}. So, the {{card.name}} is in the {{decile.annual_fee}} 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 {{card.name}} scored a {{factor_score_perks}} out of 5 for perks, putting it in the {{decile.factor_score_perks}} of cards.

The average card scores {{averages.mean_factor_score_perks}} out of 5 for perks.

Interest Rates

The average (median) credit card has a purchase interest rate of {{averages.median_purchase_interest_rate}} and so the {{card.name}} charges {{purchase_interest_diff}} than the average.

For cash advances it costs {{cash_advance_interest_rate}}% compared to the average of {{averages.mean_cash_advance_interest_rate}}.

Testing the {{card.name}} 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 {{factor_score_insurance}} out of 5 for insurance.

It offers {{insurance_count}} types of insurance, whereas the average card has {{averages.insurance_count}} types of coverage.

Approval and qualifying

We scored it {{factor_score_approval}} out of 5 for approval.

We predict that you will require a credit score of at least {{credit_score_low}} to qualify for the {{card.name}}, while the average card requires {{averages.mean_credit_score_low}} to qualify.

This puts it in the top {{decile.credit_score_low}} of cards by approval difficulty.

The personal income requirements are {{personal_income}}, while the average card requires {{averages.mean_personal_income}}.

This puts it in the {{decile.personal_income}} of cards by the income required to qualify.

The Vancity Enviro Gold Visa (Low Rate) credit card is a great option for Canadians who are seeking a card with low interest rates, reward opportunities, and environmentally conscious features.

In this review, we will discuss the earning potential, list four benefits, and two drawbacks of using this card, along with any other relevant information for potential users.

Earning potential

The Vancity Enviro Gold Visa (Low Rate) credit card offers My Visa Rewards Plus points on every purchase made. For every $1 spent on the card, you will earn 1 point, which can be redeemed for cash back, travel, gift cards, or charitable donations.

There are no specific bonus categories, like dining or grocery spending, but the consistent point accumulation across all spending allows for potential earning versatility.

Benefits

1. Low-Interest Rate on Purchases: A key advantage of the Vancity Enviro Gold Visa (Low Rate) card is its low-interest rate on purchases. The card offers a competitive interest rate of just 12.25%, which is significantly lower than many other credit cards. This makes the card appealing for those who may carry a balance from month to month.





2. Environmental Donations to Local Community Projects: As an environmentally mindful card option, Vancity donates a minimum of 5% of its Visa profits to local community projects that have a positive environmental impact. This means that by using this card, you are indirectly supporting green initiatives and sustainable practices.





3. Purchase Security and Extended Warranty Insurance: With the Vancity Enviro Gold Visa (Low Rate) credit card, you have access to purchase security and extended warranty insurance plans.
   
   This means that eligible purchases made using this card are protected from loss, theft, or damage within a specified period, and you get an extended warranty on items with existing manufacturer’s warranties.





4. Additional Travel and Purchase Benefits: The card also offers additional features such as travel accident insurance, auto rental collision/loss damage insurance, and price protection service. These benefits can provide added peace of mind and cost-savings on travel-related expenses and enhancing the overall value of the card.

Drawbacks

1. Annual Fee: One significant drawback of the Vancity Enviro Gold Visa (Low Rate) credit card is the annual fee of $99. While the card does provide noteworthy benefits, the annual fee may deter potential applicants seeking a no-fee alternative.





2. Lack of Specific Bonus Categories: The card lacks specific bonus categories for earning points, other cards may offer accelerated earning in select categories like dining, travel, or groceries. For users whose spending is heavily concentrated in particular categories, there may be other cards that provide a higher reward-earning potential.

Additional information

In conclusion, the Vancity Enviro Gold Visa (Low Rate) credit card is a solid choice for Canadians seeking a low-interest, reward earning credit card with an environmental focus. While the card does have an annual fee, it offers valuable benefits and can be a worthwhile option for users who value the environmentally friendly approach and perks of this card.

Is the Vancity Enviro Gold Visa (Low Rate) not convincing you? Consider the Vancity Enviro Visa Infinite or the Vancity enviro Gold Visa. Still not the right credit card? Make sure not to miss the Vancity enviro Visa Classic with Vancity Rewards.

FAQ

Key benefits

• 12.99% annual interest rate on purchases and cash advances





• Purchase security and extended warranty protection





• 3-year $5,000 Vancity enviroFundTM grants for non-profits





• 3,500 Vancity Reward Points upon card activation





• Up to 1.25 Vancity Reward points per dollar spent





• Redeem points for cash back, travel, or local gift cards





• Zero liability for unauthorized purchases





• Visa payWave for contactless payments





• Roadside assistance included





• Auto rental collision and loss damage insurance





• Optional overdraft protection for linked accounts