The Canadian Tire Triangle Mastercard stands out as a versatile and rewarding credit card, particularly beneficial for those who regularly shop at Canadian Tire and its affiliated stores. Here’s an in-depth look at its key features and advantages:
High Rewards at Canadian Tire
The primary benefit of the Triangle Mastercard is the generous rewards rate it offers for purchases made at Canadian Tire and its affiliates. Specifically, cardholders earn 4% back in Canadian Tire Money on all purchases made at:
- Canadian Tire: This includes a wide array of products ranging from automotive supplies, home goods, and outdoor equipment to tools, sports gear, and seasonal items.
- Sport Chek: One of Canada’s largest retailers of sports equipment and apparel, Sport Chek offers everything from fitness gear and footwear to outdoor adventure equipment.
- Mark’s: Known for its workwear and casual clothing, Mark’s provides a range of apparel and accessories suitable for both work and leisure.
- Atmosphere: Specializing in outdoor and camping gear, Atmosphere offers equipment and apparel for activities such as hiking, camping, and winter sports.
This high earn rate is particularly advantageous because it applies throughout the year with no cap on the amount you can earn, making it one of the most lucrative rewards rates available for a no-fee credit card. Whether you’re buying household essentials, sports equipment, or clothing, you can maximize your rewards with every purchase at these stores.
No Annual Fees
Another significant advantage of the Triangle Mastercard is that it does not charge any annual fees. This makes the card exceptionally cost-effective. Many credit cards with high reward rates often come with hefty annual fees that can offset the benefits of the rewards earned. The Triangle Mastercard, however, allows cardholders to enjoy substantial rewards without any additional cost, making it an accessible option for a broad range of consumers, regardless of their financial situation.
Universal Earnings with Limited Redemption
The Triangle Mastercard allows cardholders to earn Canadian Tire Money on all purchases, not just those made at Canadian Tire and its affiliates. This means you can accumulate rewards on everyday spending, including:
- Grocery Stores: Earn 1.5% back on grocery purchases at most grocery stores (excluding Costco and Walmart) up to an annual limit of $12,000. This covers popular grocery chains such as No Frills, Loblaws, Metro, Sobeys, Longos, and FoodBasics.
- Other Purchases: Earn 0.5% back on all other purchases. This includes a wide variety of spending categories, from dining and entertainment to travel and online shopping.
While the ability to earn rewards on all purchases is a significant benefit, the redemption options are somewhat limited. Canadian Tire Money earned through the Triangle Mastercard can only be redeemed at:
- Canadian Tire Stores: Use your rewards to purchase any item available at Canadian Tire, from automotive parts to home decor and beyond.
- Sport Chek: Redeem rewards for sports equipment, apparel, and footwear.
- Mark’s: Use your rewards for clothing, workwear, and accessories.
- Atmosphere: Spend your rewards on outdoor and camping gear.
Although the redemption options are confined to these stores, the extensive range of products available ensures that you have plenty of opportunities to use your rewards effectively. Additionally, if you are a regular shopper at Canadian Tire and its affiliates, the limited redemption options are less of a drawback and more of a focused benefit, allowing you to earn and spend rewards seamlessly within a familiar network of stores.
Overview of Canadian Tire and Its Loyalty Program
Canadian Tire is one of Canada’s oldest and largest department store chains, with a nearly 100-year history. The company launched its loyalty program, Canadian Tire Money, in 1958, making it a pioneer in customer rewards. Over the past six decades, the program has evolved significantly. Originally distributed as paper bills, Canadian Tire Money is now fully digital, tracked via apps, cards, or key fobs. In 2018, the program was rebranded as Triangle Rewards, coinciding with the release of the Triangle Mastercard, which allows users to earn Canadian Tire Money faster on everyday purchases, even those made outside of Canadian Tire.
Detailed Breakdown of the Triangle Mastercard
- Canadian Tire, Sport Chek, Mark’s, and Atmosphere: Earn 4% back in Canadian Tire Money.
- Groceries: Earn 1.5% back on the first $12,000 spent annually at eligible stores (excluding Costco and Walmart).
- Other Purchases: Earn 0.5% back on all other purchases.
- Eligibility: No specific income requirement.
How the Triangle Rewards Program Works
The Triangle Rewards program simplifies earning and redeeming Canadian Tire Money. It’s easy to understand: 1% back equals 1 cent, which can be redeemed directly at Canadian Tire and its affiliates. This straightforward redemption process is available at Canadian Tire, Sport Chek, and participating Mark’s and Atmosphere locations.
Comprehensive Review of the Triangle Mastercard
Pros
- 4% Earnings at Canadian Tire: You earn 4% back in Canadian Tire Money on all purchases at Canadian Tire, with no annual cap. This rate applies to a wide range of products, from household essentials to electronics and home decor. The card is accepted at over 500 locations across Canada.
- 4% Earnings at Sport Chek and Mark’s: This card also offers 4% back at Sport Chek, one of Canada’s largest sports retailers, and at Mark’s clothing stores and Atmosphere camping stores. This makes it beneficial for purchases of sports equipment, clothing, and outdoor gear.
- Gas Rewards: Earn 5 cents per litre in Canadian Tire Money when you refuel at eligible Gas+/Essense+ stations using the Triangle Mastercard.
- Grocery Purchases: Earn 1.5% back on grocery purchases up to $12,000 annually, excluding Costco and Walmart. After reaching the $12,000 cap, the earn rate drops to 0.5%. The 1.5% rate applies to stores like No Frills, Loblaws, Metro, Sobeys, Longos, and FoodBasics.
- Accessibility: The card does not have an income requirement or annual fee, making it accessible to a broad range of consumers.
Cons
- Limited Redemption Options: While the Triangle Rewards program is straightforward, it is a store loyalty program. This means rewards can only be redeemed at Canadian Tire, Sport Chek, and select affiliates. You cannot use Canadian Tire Money for fuel or as statement credits to pay off your balance.
- Pre-Tax Earnings: The 4% reward rate is based on the pre-tax amount of your purchase, which slightly reduces the effective earn rate. Despite this, 4% is still a strong rate, especially for a no-fee card.
Additional Perks
- No-Fee Financing: The Triangle Mastercard offers a no-fee financing option for large purchases (minimum $200). You can spread out payments over time without incurring interest or fees, provided you meet the payment terms. For instance, you can pay off a $300 purchase in 12 monthly installments of $25 each. Purchases over $500 can be paid over two years. This feature is beneficial for managing large expenses without paying interest, as long as payments are made on time.
- Bill Payments: You can use the Triangle Mastercard to pay for significant bills such as hydro, property taxes, tuition, and insurance premiums, earning Canadian Tire Money on these payments. However, it’s important to manage these payments carefully to avoid interest charges if you carry a balance.
Final Word on the Triangle Mastercard
The Triangle Mastercard is a valuable tool for those who frequently shop at Canadian Tire. It offers high rewards rates, no annual fees, and additional perks like no-fee financing and the ability to earn rewards on bill payments. While the redemption options are somewhat limited, the extensive range of products available at Canadian Tire and its affiliates ensures ample opportunities to use your rewards. The card’s accessibility, with no income requirements or annual fees, makes it a practical choice for a wide audience. Overall, the Triangle Mastercard can significantly enhance your shopping experience at Canadian Tire, helping you earn more Canadian Tire Money and enjoy more benefits from your purchases.
