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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 Visa Classic with Vancity Rewards credit card offers a unique blend of environmentally-conscious features and flexible rewards earning potential that caters to a wide range of users.

In this review, we will delve into the card’s earning rates, major benefits, drawbacks, and other relevant information that can help potential cardholders make an informed decision.

Earning Potential

This credit card earns points based on your spending in various categories. For every $2 spent using the card, you will earn 1 Vancity Rewards point. Points can be redeemed for travel, cash, gift cards, or even charitable donations.

Although there is no specific bonus rate for dining, travel, or grocery expenses, the earnings remain consistent across all spending categories.

Benefits

1. No Annual Fee: The first major advantage of the Vancity enviro Visa Classic with Vancity Rewards credit card is the absence of an annual fee, making it accessible and affordable for a broad audience. This is particularly appealing to those who are looking for rewards without having to offset the cost of card ownership.





2. Environmentally Responsible: This card adheres to a strong focus on environmental sustainability by supporting initiatives that reduce the carbon footprint of its cardholders.
   
   A percentage of the card’s annual revenue is donated to the Vancity enviroFund, which in turn supports local green projects and businesses in British Columbia.





3. Flexible Rewards Redemption: The Vancity enviro Visa Classic card offers a great deal of flexibility when it comes to redeeming your earned points.
   
   You can choose from a wide array of options, including travel, cash, gift cards, or even donating your points to a charity of your choice. This adaptability makes it an attractive card for users with varying preferences and priorities.





4. Common Carrier Accidental Death and Dismemberment Insurance: When you pay for your fare on a common carrier (such as a bus, ferry, or airplane) using the Vancity enviro Visa Classic card, you are automatically covered with up to $200,000 in Accidental Death and Dismemberment Insurance.
   
   This valuable benefit offers peace of mind while traveling.

Drawbacks

1. Limited Reward Earning Potential: A significant drawback of this card is its limited reward earning potential. With only 1 point earned for every $2 spent, it may take a considerable amount of spending to accumulate a worthwhile number of points.
   
   This may be a discouragement for those who are looking for more lucrative rewards or faster accumulation.





2. No Sign-up Bonus: Another drawback to consider is the lack of a sign-up bonus with this card. Many credit cards offer enticing sign-up bonuses to attract new users, and the absence of one for the Vancity enviro Visa Classic card might make it less appealing when compared to competitive options.

Additional Information

Before applying for the Vancity enviro Visa Classic with Vancity Rewards credit card, consider your personal spending habits and whether the rewards and benefits align with your financial goals and lifestyle.

Moreover, keep in mind that you must be a Canadian resident and have a minimum annual income of $15,000 to be eligible for this credit card.

Not the right fit? You could consider the Vancity Enviro Classic Visa (Low Rate). Or, if you’re looking for other options check out the Vancity Enviro Gold Visa (Low Rate), and the Vancity enviro Gold Visa.

FAQ

Key benefits

• Vancity Rewards points earned at a rate of 1 point per $2 spent





• Points can be transferred to 16+ charity partners





• Optional extended warranty coverage available





• 24/7 Lost/stolen card assistance and fraud protection





• Online and mobile banking access with Vancity





• Optional overdraft protection





• Emergency card replacement service





• Access to exclusive partner offers and promotions





• Recyclable at end-of-life through Vancity’s partnership with a recycling organization