Vancity enviro Visa Classic with Vancity Rewards Review
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
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 Visa Classic with Vancity Rewards, here’s how you earn rewards:
| Specific Stores | 1 point |
| All Other Spend | 0.50 point |
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 Visa Classic with Vancity Rewards in particular, if you spend $2,000.00 per month, here’s our estimated rewards earned depending on which reward you choose:
| Redemption method | Annual rewards |
|---|---|
| Redeem for travel | $126.00 |
| Apply to statement credit | $126.00 |
| Charity | $126.00 |
| Gift cards | $126.00 |
Calculating your annual rewards
$24,000.00 annual spending x $0.53% return on spending = $126.00 annual rewards
$126.00 annual rewards – $0.00 annual fee = $$126.00 net annual rewards
Details and eligibility
| Do I qualify? | |
|---|---|
| Estimated Credit Score | 760 – 900 |
| Interest Rates | |
|---|---|
| Purchase | 19.5% |
| Cash Advance | 19.5% |
| Balance Transfer | 19.5% |
| Fees | |
|---|---|
| Extra Card Fee | $0 |
| Card type | Visa |
Insurance coverage
| Extended Warranty | 1 year |
| Purchase Protection | 90 days |
| Travel Accident | 200000 |
Vancity enviro Visa Classic with Vancity Rewards Review
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.
Benefit 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.
Benefit 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.
Benefit 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.
Benefit 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.
Drawback 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.
Drawback 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
