Vancity enviro Visa Classic with Vancity Rewards Review

4.49

$0

Annual Fee

$126

Annual Rewards

N/A

Intro Offer

$0

Annual fee

$126

Annual rewards

N/A

Intro offer


Pros


  • Earn Vancity Rewards on every purchase
  • 19.50% interest rate on purchases
  • No annual fee
  • Eco-friendly card made from recycled plastic
  • Redeem points for travel, merchandize, vouchers, or charitable donations
  • Support local community projects through rewards program
  • Travel accident insurance and auto rental collision/loss damage insurance

Cons


  • No welcome bonus for new cardholders
  • Limited to Vancity credit union members
  • Not competitive when compared to other rewards credit cards
  • 19.50% interest rate might be high for some users
  • Not widely accepted outside of Canada

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 Vancity enviro Visa Classic with Vancity Rewards has earned a 4.49 DollarWise Rating out of 5. This score is based on a weighted average of the two highest scoring factors (excluding acceptance and approval).

Rewards

Fees

Perks

Interest rates

Insurance

Acceptance

Approval

The highest scoring categories for the Vancity enviro Visa Classic with Vancity Rewards 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 Vancity enviro Visa Classic with Vancity Rewards the most important factors for scoring this card are its fees and interest.

Rewards

With the Vancity enviro Visa Classic with Vancity Rewards, here’s the rates at which you earn rewards for different spending categories per dollar you spend:

Bills0.50 point
Pharmacy0.50 point
Gas0.50 point
Groceries0.50 point
Restaurants0.50 point
Specific Stores1 point
Travel0.50 point
All Other Spend0.50 point

Calculating your annual rewards

We estimate that spending $2,000 per month with the Vancity enviro Visa Classic with Vancity Rewards would earn $126 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:

Specific Stores$12
All Other Spend$114

Our study investigating the value found that each dollar spent on the Vancity enviro Visa Classic with Vancity Rewards is worth up to $0.01, depending on how you redeem.

This $126 in rewards value puts the Vancity enviro Visa Classic with Vancity Rewards in the bottom 20% 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 Vancity enviro Visa Classic with Vancity Rewards earns $126 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.

SpendThis CardAverage
Bills0.50%1.25%
Pharmacy0.50%1.17%
Gas0.50%1.48%
Groceries0.50%1.71%
Restaurant0.50%1.53%
Store1.00%1.94%
Travel0.50%1.19%
Other0.50%1.08%
Above, we’ve calculated the earn rate for the Vancity enviro Visa Classic with Vancity Rewards for every spend category and compared it to the average for all Canadian credit cards.
Redemption methodAnnual rewards
Redeem for travel$126
Apply to statement credit$126
Charity$126
Gift cards$126

For an annual spend of $24,000, we estimated annual rewards value at up to $126.

That’s equivalent to a 0.53% return on spending.

The Vancity enviro Visa Classic with Vancity Rewards has an annual fee of $0. After deducting this, we predicted net annual rewards of $126.

This puts it in the bottom 30% of credit cards for net rewards after fees.

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

Fees

The Vancity enviro Visa Classic with Vancity Rewards has a $0 annual fee.

The average card charges $85. So, the Vancity enviro Visa Classic with Vancity Rewards 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 Vancity enviro Visa Classic with Vancity Rewards scored a 1.4 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

Purchase19.5%
Cash Advance19.5%
Balance Transfer19.5%

The average (median) credit card has a purchase interest rate of 19.99% and so the Vancity enviro Visa Classic with Vancity Rewards charges 0.49% less than the average.

For cash advances it costs 19.5% compared to the average of 19.96%.

Testing the Vancity enviro Visa Classic with Vancity Rewards with a $2,000 starting balance, you can see in the graph how the 0.49% less in interest rates impacts the interest over a year, compared to the average card.

Insurance coverage

InsuranceThis CardAverage
Extended Warranty1 year1 year
Purchase Protection90 days90 days
Travel Accident$200,000$500,000

We scored it 2.0 out of 5 for insurance.

It offers 3 types of insurance, whereas the average card has 5 types of coverage.

Approval and qualifying

Do I qualify?
Estimated Credit Score760 – 900
Personal Income$0
Household Income$0
Fees
Annual Fee$0
Extra Card Fee$0
Card typeVisa

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 Vancity enviro Visa Classic with Vancity Rewards, 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 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

The Vancity enviro Visa Classic with Vancity Rewards credit card allows cardholders to redeem their points for a variety of rewards. These rewards include:

  • Travel rewards, such as flights, hotel stays, car rentals, and vacation packages
  • Gift cards and merchandise from various retailers and restaurants
  • Charitable donations to eligible community organizations
  • Financial products and services available at Vancity, such as loan rebates and term deposits
  • Visa statement credits to help reduce your card balance
  • My Visa Rewards Plus exclusives, which are unique offers and experiences handpicked for Vancity Rewards members

This wide variety of redemption options ensures that cardholders can find a suitable reward that aligns with their personal preferences and values.

The Vancity enviro Visa Classic with Vancity Rewards credit card does in fact have foreign transaction fees. When you use this card for transactions in currencies other than Canadian dollars, you will be charged a fee of 2.5% on top of the converted amount.

This fee is applied to all international purchases, cash advances, and refunds processed in a foreign currency.

The Vancity enviro Visa Classic with Vancity Rewards credit card does not have a specific minimum income requirement. This aspect makes it accessible to a wider range of applicants, including low-income earners and students.

Always remember that credit card approval is still subject to factors such as credit history and personal financial situation.

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

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