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Our VerdictIf you like a no frills credit card with a simple rewards structure, the Triangle Mastercard fits the bill. This credit card offers 4% cash back in CT Money (the modernized, digital form of Canadian Tire money) at a handful of retailers and 1.5% at grocery stores. However, the rewards drop off to 0.5% for purchases made outside of the Canadian Tire network. While the Triangle Mastercard earns points for having no annual fee and a respectable 1:1 ratio for earnings, it misses the mark on flexibility, since you can only earn cash back in CT Money, which can only be redeemed at partner stores and can’t be converted into cash.
Our ratings take into account the card’s rewards, fees, rates along with the card’s category. All ratings are determined solely by our editorial team.
Annual Fee Credit Score Good, Excellent Regular APR 19.99% - 27.99% variableKOHO Essential Prepaid Mastercard
Via KOHO’s Secure Website
30-day free trial to any KOHO subscription plans
$4* per month and $48 per year for an Essential Plan.
The iconic Canadian Tire has been around for nearly 100 years, so it’s safe to say it knows a thing or two about loyalty. Its customers may not have stacks of paper Canadian Tire Money collecting in their junk drawer anymore, but the digital equivalent stored on the Triangle Mastercard is just as rewarding (and easier to keep track of too).
The Triangle Mastercard itself is a basic, no-annual-fee credit card, perfect for cardholders who don’t need all the typical bells and whistles found on premium credit cards.
Cardholders will receive 4% cash back in the form of CT Money on everyday purchases at Canadian Tire and a handful of other participating retailers owned by Canadian Tire Corporation, Limited. The card also earns 1.5% on groceries, $0.5 on fuel, and 0.5% back when you shop anywhere else.
Just like the paper Canadian Tire Money, you can stack CT Money with bonus offers to earn even more CT Money on your spending. Cardholders can receive weekly deals and access to bonus events that earn 30 times more per dollar on purchases. Plus, if you still have a few old bills of physical Canadian Tire Money lying around, you can convert them into digital dollars at any Canadian Tire store.
If you frequently shop at Canadian Tire or any of the other partners, you can quickly rack up CT Money with this card. You can collect 4% on eligible purchases at Canadian Tire and participating retailers for sporting equipment, home and lifestyle goods, and car rentals. However, the earn rate drops to 0.5% when you shop anywhere other than the approved partner stores.
Every time you fill up at Gas+ and Essence+ pumps, you can earn $0.5 per litre on all fuel types, including diesel. There are no minimums or maximums on the fuel required to qualify for the cash back rate.
Cardholders can also collect 1.5% on groceries up to $12,000 in purchases per year, but it’s important to note that this excludes Costco and Walmart.
The earn rates are decent, but the “cash” you get back is digital CT Money. That means, you can only spend it at the retailers under the Canadian Tire corporate umbrella. You will also only be collecting rewards on pre-tax amounts. Plus, there are plenty of other cash back credit cards that put real money back in your pocket based on the total transaction amount and have higher earn rates, to boot.
Redeeming rewards is relatively straightforward. Simply show your card to a cashier or use your points online at any partner location and watch the price go down. The easiest way to use your rewards is through the Triangle Mastercard App. The app will give you quick access to your rewards total and available bonus offers.
The dollar for dollar redemption value is respectable and the app is handy, but you can only redeem rewards at approved locations that accept CT Money. This puts a cap on what you can buy with your rewards. Another drawback is the cash back earned at Gas+ and Essence+ can’t be redeemed for fuel. Other credit cards give you real cash back to put towards gas bills, like the American Express Gold Rewards Card.
We did the math for you by calculating what the average Canadian spends every year for each TD Cash Back Visa Infinite* Card cash back category. Forbes Advisor uses data from multiple government agencies in order to determine both baseline income and credit card spending averages across various categories.
Forbes Advisor estimates the total annual credit card spending to be $27,851.70. Of that amount, grocery purchases add up to $7,536, earning $113.04 in CT Money the 1.5% rate. All other spending would earn the 0.5% rate, unless it was at partner stores. So, the $3,360 on gas, coming out to $16.80 in CT Money and the $2,436 in recurring bills ($2,436) would amount to $12.18. Canadians also spend $14,519.70 in other spending categories (like dining, air travel, hotels, online purchases and miscellaneous spending) that could reasonably be charged to a credit card and would earn at the base rate of 0.5%, earning them. That would amount to just $72.59 in CT Money, earning them a grand total of $214.61 in CT Money per year.
Overall, the Triangle Mastercard doesn’t earn very much considering that there are other credit cards out there that offer more flexible rewards (like cash) and can earn upwards of $500 a year, based on the exact same spending. That said, we didn’t account for purchases made at partner stores, since sporting equipment, workwear and Canadian Tire shopping don’t fall into typical spending categories. But, if you spend a lot at those stores, this card might be well worth the 4% back in CT Money.
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