Coincidentally, when it comes to credit cards in Canada, the Canadian Tire Triangle Mastercard is often a popular choice for its cash back rewards and gas savings.
However, it’s important to explore other options and compare the Triangle Mastercard to its competitors.
In this article, Jordan Bishop, a financial expert, delves into the features and limitations of the Triangle Mastercard and compares it to other credit cards, such as American Express cards, to provide readers with valuable insights and recommendations.
Earning Potential: CT Money Vs. Rewards Points
The Canadian Tire Triangle Mastercard offers CT Money as its earning potential. Other cards like the Cobalt Card and Marriott Bonvoy Card offer rewards points instead.
CT Money is earned on purchases made at Canadian Tire and select retailers. The card has a higher earn rate of 1.5% on grocery purchases and 0.8% on other purchases.
On the other hand, the Cobalt Card offers a welcome bonus of 30,000 MR points. The Marriott Bonvoy Card offers a welcome bonus of up to 50,000 Marriott Bonvoy points.
When it comes to redemption options, the Triangle Mastercard allows rewards to be used exclusively at Canadian Tire. Other cards offer more flexibility in terms of where and how rewards can be redeemed.
Overall, the earning potential and redemption options differ between the Triangle Mastercard and other cards. It’s important for individuals to consider their specific needs and preferences before choosing a card.
Grocery Purchases: CT Money Vs. Cash Back
Earning 1.5% CT Money on grocery purchases is a major advantage of the Canadian Tire Triangle Mastercard. This provides cardholders with the opportunity to accumulate rewards on their everyday grocery expenses.
CT Money is a unique currency that can be used at Canadian Tire and select retailers, offering flexibility in redemption options. In comparison, other credit cards typically offer cash back rewards on grocery purchases. While cash back can be more versatile, CT Money can be more valuable for those who frequently shop at Canadian Tire.
Additionally, the Triangle Mastercard provides gas savings of 5¢ per liter at Canadian Tire Gas+ gas stations, which sets it apart from other cards that may not offer such benefits.
Overall, the Triangle Mastercard offers a competitive earning potential and gas savings compared to other credit cards in the market.
Gas Savings: Triangle Mastercard Vs. Other Cards
With its 5¢ per liter gas savings, the Triangle Mastercard stands out from competing cards in terms of its benefits for fuel purchases. When comparing the Triangle Mastercard to other gas cards, it is clear that the savings it offers at Canadian Tire Gas+ gas stations are a significant advantage. To further understand the comparison, let’s take a look at a table that highlights the key features of the Triangle Mastercard and two other popular gas cards:
| Card | Gas Savings | Rewards on Other Purchases |
|---|---|---|
| Triangle Mastercard | 5¢ per liter | Varies |
| Gas Card 1 | 3¢ per liter | Limited |
| Gas Card 2 | 2¢ per liter | Varies |
As we can see, the Triangle Mastercard offers the highest gas savings among the three cards. However, when comparing the Triangle Mastercard to other rewards cards, it may not provide the same level of benefits. It is important to consider individual spending habits and preferences when choosing a credit card that best suits one’s needs.
Foreign Transaction Fees: Triangle Mastercard Vs. Competitors
When considering foreign transaction fees, the Triangle Mastercard fares competitively against its counterparts in terms of rates and charges. The Triangle Mastercard charges a foreign transaction fee of 2.5%, which is comparable to other credit cards on the market.
However, when it comes to earning potential, the Triangle Mastercard differs from its competitors. Instead of rewards points, the Triangle Mastercard offers CT Money, which can be earned on purchases at Canadian Tire and select retailers. The earn rate for CT Money is 1.5% on grocery purchases and 0.8% on other purchases.
On the other hand, many competitors offer rewards points that can be redeemed for a variety of rewards, such as travel or cash back. It is important for consumers to compare the earning potential of CT Money to rewards points when deciding which credit card is the best fit for their needs.
Welcome Bonuses: Triangle Mastercard Vs. American Express Cards
The welcome bonuses offered by American Express cards outshine those of the Triangle Mastercard. American Express cards like the Cobalt Card and the Marriott Bonvoy Card provide impressive welcome bonuses that can significantly boost the earning potential for cardholders.
Additionally, American Express cards offer a higher earn rate on all purchases, giving cardholders the opportunity to accumulate rewards at a faster rate compared to the Triangle Mastercard.
When it comes to foreign transaction fees, the Triangle Mastercard charges a 2.5% fee, which is higher compared to some competitors. On the other hand, American Express cards have competitive foreign transaction fees that are often lower than the Triangle Mastercard.
Overall, American Express cards outperform the Triangle Mastercard in terms of earning potential and foreign transaction fees.
Additional Benefits: Triangle Mastercard Vs. Marriott Bonvoy Card
The Marriott Bonvoy Card offers additional benefits such as a free night at a luxury hotel. In comparison, the Triangle Mastercard has some limitations. Let’s take a look at the advantages of the Marriott Bonvoy Card and the limitations of the Triangle Mastercard:
| Marriott Bonvoy Card Advantages | Triangle Mastercard Limitations |
|---|---|
| Free night at a luxury hotel | Rewards can only be used at Canadian Tire |
| Limited availability of Gas+ gas stations | |
| Limited value compared to other cards |
The Marriott Bonvoy Card provides the perk of a free night at a luxury hotel, adding value to cardholders. On the other hand, the Triangle Mastercard has certain limitations, such as the restriction that rewards can only be used at Canadian Tire and the limited availability of Gas+ gas stations. Additionally, the Triangle Mastercard may not offer the same level of value compared to other credit cards. Overall, the Marriott Bonvoy Card offers more advantages, making it a preferable choice for those seeking additional benefits and rewards.
Summary: Triangle Mastercard’s Pros and Cons
One should consider the pros and cons of the Triangle Mastercard before making a decision.
Earning Potential: The Triangle Mastercard offers 4% cash back at Canadian Tire and 5¢ per liter gas savings. However, its earn rate on non-grocery purchases is extremely low at 0.8%, making it less lucrative compared to other cards.
Value Comparison: When comparing the Triangle Mastercard to recommended alternatives like the Cobalt Card and Marriott Bonvoy Card from American Express, the Triangle Mastercard falls short in terms of value. The American Express cards offer more rewards, impressive welcome bonuses, and additional benefits like a free night at a luxury hotel.
Recommended Alternatives: For better value and benefits, it is advisable to consider the Cobalt Card and Marriott Bonvoy Card from American Express. These cards provide more value and reasonable annual fees compared to the Triangle Mastercard.
Application Process: Triangle Mastercard Vs. Other No-Fee Cards
Applicants can easily and quickly apply for the Triangle Mastercard online. They provide personal information such as name, address, and social insurance number.
Compared to other no-fee cards, the application process for the Triangle Mastercard is straightforward and hassle-free. It does not require a minimum annual income or credit score requirement, making it accessible to a wide range of individuals.
The application can be completed in just a few minutes, allowing applicants to receive a quick response. Upon approval, applicants are assigned a specific credit limit based on the information provided. There is also the possibility to increase the credit limit over time.
The Triangle Mastercard is accepted wherever Mastercards are accepted, providing convenience and flexibility for purchases. However, it is important to note that there are other recommended no-fee credit cards in Canada. Examples include the Cobalt Card and the Marriott Bonvoy Card from American Express, which offer more value and benefits.
Value Comparison: Triangle Mastercard Vs. Recommended Alternatives
When evaluating value, it is important to consider the benefits and rewards offered by the Triangle Mastercard and its recommended alternatives. Here is a comparison of earnings potential and redemption options for the Triangle Mastercard versus other no-fee cards:
Earnings Potential: The Triangle Mastercard offers CT Money on purchases at Canadian Tire and select retailers. The earn rate is 1.5% on grocery purchases and 0.8% on other purchases. In comparison, other no-fee cards like the Cobalt Card from American Express offer higher earn rates on all purchases, providing better earning potential.
Redemption Options: The Triangle Mastercard allows redemption of rewards only at Canadian Tire. On the other hand, alternative cards like the Cobalt Card and the Marriott Bonvoy Card from American Express offer rewards points that can be redeemed for a variety of options, including travel, merchandise, and more, providing more flexibility in redemption.
Considering these factors, the Triangle Mastercard falls short in terms of earnings potential and redemption options compared to its recommended alternatives.