Dollarwise

Vancity Enviro Gold Visa Review

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Visa > Vancity







Advertising disclosure









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Pros











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Editorial Note: DollarWise may earn a commission on sales made from partner links on this page.





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).









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Insurance











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Acceptance











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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:





Bills{{reward_bills}}
Pharmacy{{reward_drug}}
Gas{{reward_gas}}
Groceries{{reward_grocery}}
Restaurants{{reward_restaurant}}
Specific Stores{{reward_store}}
Travel{{reward_travel}}
All Other Spend{{reward_other}}




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:





Bills{{bills_dollarrewards}}
Pharmacy{{drug_dollarrewards}}
Gas{{gas_dollarrewards}}
Groceries{{grocery_dollarrewards}}
Restaurants{{restaurant_dollarrewards}}
Specific Stores{{store_dollarrewards}}
Travel{{travel_dollarrewards}}
All Other Spend{{other_dollarrewards}}




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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.





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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.





SpendThis CardAverage
Bills{{bills_earnrate}}{{averages.mean_bills_earnrate}}
Pharmacy{{drug_earnrate}}{{averages.mean_drug_earnrate}}
Gas{{gas_earnrate}}{{averages.mean_gas_earnrate}}
Groceries{{grocery_earnrate}}{{averages.mean_grocery_earnrate}}
Restaurant{{restaurant_earnrate}}{{averages.mean_restaurant_earnrate}}
Store{{store_earnrate}}{{averages.mean_store_earnrate}}
Travel{{travel_earnrate}}{{averages.mean_travel_earnrate}}
Other{{other_earnrate}}{{averages.mean_other_earnrate}}
Above, we've calculated the earn rate for the {{card.name}} for every spend category and compared it to the average for all Canadian credit cards.




Redemption methodAnnual rewards
Transfer to partner airlines{{transfer_airlines}}
Fixed points travel{{fixed_points_travel}}
Transfer to partner hotels{{transfer_hotel}}
Redeem for travel{{redeem_travel}}
Apply to statement credit{{statement_credit}}
Ticketmaster{{ticketmaster}}
Charity{{charity}}
Gift cards{{gift_cards}}
Amazon.ca{{amazon}}
Merchandise{{merchandise}}
Make investments{{investments}}
Enjoy experiences{{experiences}}
Car rentals{{car_rental}}
Vacations{{vacation}}
Attractions{{attractions}}
Cash rewards{{cash_rewards}}
Grocery rewards{{grocery_rewards}}
Restaurant rewards{{restaurant_rewards}}
Movie rewards{{movie_rewards}}
Apple / BestBuy{{apple_bestbuy}}
Flight rewards{{flight_rewards}}
Airlines Rewards (Charts){{airlines_rewards_chart}}
CIBC financial products{{cibc_financial_products}}
Air travel - redemptions (scheduled){{air_travel_redemptions_schedule}}
RBC travel{{rbc_travel}}
Transfer to WestJet{{transfer_westjet}}
Transfer to Hudson Bay{{transfer_bay}}
RBC financial products{{rbc_financial_products_rewards}}
Air Canada gift cards{{aircanada_gift_card}}
Air Canada vactions{{air_canada_vacations}}
Electronics gift cards{{electronics_gift_cards}}
Cash - World Elite{{cash_worldelite}}
Cash - Platinum Plus{{cash_platinumplus}}
Banking plans{{banking_plans}}
Desjardins financial products{{desjardins_financial_products}}
Expedia travel{{expedia_td}}
Educational rewards{{education_rewards}}
HSBC financial products{{hsbc_financial_products}}
Walmart{{walmart_rewards}}
Triangle (Canadian Tire){{triangle_rewards}}
Meridian travel{{meridian_travel}}
Direct deposit{{direct_deposit_rewards}}
Costco gift cards{{costco_gift_cards}}
Wireless Rogers rewards{{wireless_rogers_rewards}}
1 Rogers rewards{{1_roger_rewards}}
Other Rogers rewards{{other_roger_rewards}}
Other 1 Rogers rewards{{other_1_roger_rewards}}




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





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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





Purchase{{purchase_interest_rate}}%
Cash Advance{{cash_advance_interest_rate}}%
Balance Transfer{{balance_transfer_interest_rate}}%




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}}.





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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





InsuranceThis CardAverage
Extended Warranty{{warranty}}{{averages.median_warranty}}
Purchase Protection{{purchase_protection}}{{averages.median_purchase_protection}}
Travel Accident{{travel_accident}}{{averages.median_travel_accident}}
Emergency Medical Term{{emergency_medical_term}}{{averages.median_emergency_medical_term}}
Emergency Medical over 65{{emergency_medical_65}}{{averages.median_emergency_medical_65}}
Trip Cancellation{{trip_cancellation}}{{averages.median_trip_cancellation}}
Trip Interruption{{trip_interruption}}{{averages.median_trip_interruption}}
Flight Delay{{flight_delay}}{{averages.median_flight_delay}}
Baggage Delay{{baggage_delay_insurance}}{{averages.median_baggage_delay_insurance}}
Lost or Stolen Baggage{{stolen_baggage}}{{averages.median_stolen_baggage}}
Event Cancellation{{event_cancel}}{{averages.median_event_cancel}}
Rental Car Theft & Damage{{rental_theft_damage}}No
Rental Car Personal Effects{{rental_personal}}{{averages.median_rental_personal}}
Rental Car Accident{{rental_accident}}{{averages.median_rental_accident}}
Hotel Burglary{{hotel_burglary}}{{averages.median_hotel_burglary}}
Mobile Phone Insurance{{mobile_insurance}}{{averages.median_mobile_insurance}}
Personal Effects Insurance{{personal_effects}}{{averages.median_personal_effects}}
Price Protection Insurance{{price_protection}}{{averages.median_price_protection}}




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







Do I qualify?
Estimated Credit Score{{credit_score_low}} - {{credit_score_high}}
Personal Income{{personal_income}}
Household Income{{household_income}}






Fees
Annual Fee{{card.annualFee}}
Extra Card Fee$0
Card type{{card_type}}






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 credit card is designed for those who value both rewards and environmental sustainability. In this review, we will discuss the earning potential of this card, four main benefits, two drawbacks, and other relevant information for potential cardholders.





Earning potential with the card





Cardholders earn Vancity Rewards points for every eligible purchase made with the enviro Gold Visa credit card. The reward rates for different spending categories are as follows:






  • 1.5 points for every $1 spent on travel-related purchases




  • 1 point for every $1 spent on all other purchases





Benefits






  1. Travel Rewards And Insurance: The first major advantage of this card is its focus on travel-related rewards. The 1.5 points per dollar spent on travel-related purchases make it a strong choice for those who frequently travel.

    Additionally, the card offers a comprehensive travel insurance package that includes coverage for trip cancellation, baggage loss, travel accidents, and more.




  2. Eco-Friendly Initiatives: The Vancity enviro Gold Visa takes the environment into consideration with its eco-friendly initiatives.

    Every year, 5% of the annual card revenue is donated to the Vancity enviroFund, which supports local environmental projects and initiatives. This allows cardholders to contribute to environmental sustainability simply by using the card.




  3. Vancity Rewards flexibility:This card offers flexibility in redeeming Vancity Rewards points.

    Cardholders can use their points for travel, gift cards, charitable donations, merchandise, or even to make sustainable choices like carbon offsets or public transit passes. This variety allows users to choose the rewards that best suit their preferences and lifestyle.




  4. Low-Interest Rate Option: Another advantage of the Vancity enviro Gold Visa is the low-interest rate option that comes with a $50 annual fee. This can lead to significant interest savings for those who sometimes carry a balance on their credit card, making it a valuable feature.





Drawbacks






  1. Limited Earning Categories: A significant drawback of this card is the limited earning categories.

    The Vancity enviro Gold Visa offers a higher reward rate only for travel-related purchases, while other spending categories only receive a standard rate of 1 point per dollar. This might not be suitable for those who want more diversified rewards.




  2. Annual Fee: The Vancity enviro Gold Visa has an annual fee of $99, which means non-travel spending would need to exceed $8,250 yearly to break even on this cost. It is important for potential cardholders to consider whether the rewards and benefits offered will outweigh this fee.





Additional Information





For those who value environmental initiatives and frequently travel, the Vancity enviro Gold Visa credit card may be worth considering. The comprehensive insurance and Vancity Rewards flexibility add even more value for potential cardholders. However, those who prioritize diversified reward categories may want to explore other options.





Interested in other credit cards? If the Vancity enviro Gold Visa credit card isn’t perfect for you, you might want to consider the Vancity Enviro Classic Visa (Low Rate). Plus, many Canadian’s that like the Vancity enviro Gold Visa like the Vancity enviro Visa Classic with Vancity Rewards, and the Vancity Enviro Visa Infinite.





FAQ







With the Vancity enviro Gold Visa credit card, you can redeem your points for a variety of rewards. These include:






  • Travel Rewards: Use your points to book flights, hotel accommodations, car rentals, vacation packages, and cruises. You can also access exclusive travel deals and book through the Vancity Rewards website.




  • Merchandise Rewards: Choose from a wide range of products in categories such as electronics, appliances, fashion, and more, available through the Vancity Rewards online catalogue.




  • Gift Cards: Redeem points for gift cards from popular retailers, restaurants, and entertainment providers to suit your taste and preferences.




  • Financial Products: Use your points to contribute towards Vancity financial products such as Vancity investments, term deposits, and RRSPs.




  • Charitable Donations: You can support local communities by donating your points to various Vancity community partners, which can have a significant impact on social and environmental issues.




  • Carbon Offsets: Offset your personal or household carbon footprint by using your points to purchase carbon offsets available from Vancity-approved partners.







The Vancity enviro Gold Visa credit card does charge foreign transaction fees. When making a transaction in a foreign currency, a fee of 2.5% of the purchase amount is applied. This fee covers the cost of converting the foreign currency to Canadian dollars and is a common feature among various credit cards.







The Vancity enviro Gold Visa credit card does not have a specific minimum income requirement for applicants. Instead, the approval is based on factors such as your credit score, borrowing history, and overall financial situation.





This means that the eligibility of each applicant will depend on a combination of their individual financial circumstances.







Key benefits






  • OnePoint Rewards program participation




  • 2X points at participating green merchants




  • 24/7 customer service assistance




  • Embedded microchip for enhanced security




  • Online and mobile banking capabilities




  • Global cash access via PLUS Network ATMs




  • Zero liability for unauthorized transactions




  • Auto rental collision/loss damage insurance




  • Purchase security and extended warranty protection




  • Emergency card replacement services




  • Balance transfer options available




  • Charitable donation integration with reward points



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