Canadian Tire Triangle Mastercard Review
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Canadian Tire Triangle Mastercard
Rewards
- 4% Collect 4% back in CT Money on almost everything at Canadian Tire and its affiliated stores.
- 1.5% Collect 1.5% back in CT Money when you stock up on groceries (on the first $12,000 per year; excludes Costco and Walmart).
- 5¢ Collect 5¢ per litre back in CT Money everytime you fill up at Gas+ and Essence+ locations.
- Welcome Offer None
- Annual Rewards $255 Learn how we calculate this.
- Annual Fee $0
- Minimum Income Required None
Pros
- No annual fee
- 0% interest financing on equal monthly payments when you spend $150 or more on qualifying purchases at participating retailers
- 4% in CT Money at Canadian Tire and its partner stores, regardless of purchase size
- 1.5% in CT Money for every dollar spent at grocery stores
Cons
- No welcome bonus
- Limited stores for redemption
- Limited ways to redeem points
The Triangle Mastercard is a rewarding no-annual-fee card if you frequently shop at Canadian Tire and its affiliated stores. It features an interest-free monthly payment plan for large purchases and exclusive offers. However, rewards are limited at certain grocery stores and non-partner retailers. To get a comprehensive understanding of the card, continue reading our detailed review below.
Century-old retailer Canadian Tire started by selling tires but has expanded over the years beyond automotive products to home and outdoor.
It also offers credit cards, which are popular among those who regularly shop at Canadian Tire and affiliate stores, particularly if they enjoy collecting Canadian Tire (CT) Money, too. What was once paper is now a digital currency, part of the Triangle Rewards Program launched in 2018.
In this Canadian Tire Triangle Mastercard Review, we look at all the details of this credit card so you can decide if it’s worth it.
Triangle Mastercard: an overview
The Canadian Tire Triangle Mastercard and its premium counterpart, the Triangle World Elite Mastercard, are both part of Canadian Tire’s loyalty program, Triangle Rewards.
The Triangle Mastercard multiplies the CT Money you can earn when you shop online and in-store at Canadian Tire locations.
This rewards credit card also allows you to earn CT Money at Canadian Tire-affiliated gas stations and stores.
Here’s how much CT Money you can earn with the Canadian Tire Triangle Mastercard:
- 4% at Canadian Tire
- 4% at Sport Chek
- 4% at participating Atmosphere/Mark’s locations
- 5% on groceries (up to $12,000 per year)
- 5% on everything else
There is no minimum annual income requirement for this card.
Triangle Mastercard rewards
Canadian Tire is no stranger to loyalty programs. In fact, it first introduced Canadian Tire Money in 1958 in the form of coupons.
Those who like to collect the coupons can still claim paper CT Money today. When customers make a purchase, they receive CT Money on paper as a substitute for cash to use on a future visit.
In 2018, Canadian Tire introduced the Triangle Rewards Program, which digitized its CT Money. Customers can now collect CT Money online or at physical locations, whether they are Canadian Tire or affiliated stores.
Each 1% in CT Money equals 1 cent ($0.01).
You can redeem your CT Money straight from the cashier at all Canadian Tire stores and participating locations of its affiliated stores, such as:
- Sport Chek
- Mark’s
- L’Équipeur
- Party City
- Atmosphere
- Pro Hockey Life
- Sports Rousseau
- Hockey Experts
- L’Entrepôt du Hockey
- Sports Experts
If you want to join the Triangle Rewards Program, you can either become a Triangle Mastercard cardholder or register for the program with a physical loyalty card or app. In both cases, members receive digital CT Money automatically on every purchase.
The key difference between a Triangle Mastercard and the regular Triangle Rewards loyalty program is that loyalty cardholders only earn at a rate of 0.4%, whereas Triangle Mastercard holders earn at a rate of 10 times that amount, at 4%.
Triangle Mastercard eligibility
There’s no minimum income requirement you have to hit in order to be approved for the Triangle Mastercard. And there’s no minimum credit score you must have in order to apply. However, it’s recommended that you have a score of 660+.
All Canadian residents who have reached the age of majority in their province can apply for this card. All you need to do is fill an application, which can be entirely done online in a matter of minutes. You will need to provide your personal information like name, address, and social insurance number (SIN).
Triangle Mastercard interest rates and fees
Fees
- Annual fee: $0
- Foreign transaction fee: 2.5%
- Extra card fee: $0
- Cash advance fee: $4
Interest rates
- Purchases: 20.99%
- Cash advances: 22.99%
- Cash advances (Quebec): 21.99%
If you’re not approved for a Triangle Mastercard at the above interest rates, Canadian Tire may still offer you the card but at a higher interest rate.
Triangle Mastercard perks
Besides the usual benefits, the Triangle Mastercard has other perks provided through its own bank division, Canadian Tire Bank.
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No-fee financing
Triangle Mastercard cardholders have the benefit of no-fee financing. This feature allows you to pay back qualifying purchases (minimum $150) at Canadian Tire and affiliated stores (physical and online) via monthly instalments without being charged a fee or interest.
However, ensure you make the minimum payment by the due date or you’ll be charged interest. The interest rate will be set by your card’s APR, and you’ll pay interest for every day since you made the purchase.
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Bill payments
The Triangle Mastercard allows you to pay your bills, such as property taxes, water, and insurance premiums. This is done through the Canadian Tire Bank. This isn’t a feature usually available with a simple cash back card. Using your credit card to pay these bills also makes you eligible to earn CT Money regularly.
When using this option, make sure you can pay off what you owe in full every month and aren’t carrying a balance. Otherwise, you’ll be charged interest.
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Exclusive bonus offers
Each week, Canadian Tire cardholders and Triangle Rewards members receive special offers based on their purchases. You can earn more CT Money when you shop on Triangle Bonus Days and during Spend-and-Get events.
Occasionally, Canadian Tire offers more CT Money back for eligible purchases within a specific period. Canadian Tire informs its customers of these promotions regularly whenever they’re available.
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No-receipt returns
Usually, Canadian Tire doesn’t accept returns without a receipt but when you purchase something using the Triangle Mastercard, you can return without a receipt at participating stores.
Compare Triangle Mastercard alternatives
Our final thoughts
If you shop regularly at Canadian Tire or its affiliated stores, then the Triangle Mastercard is a great way for you to increase your CT Money faster.
If you don’t frequent Canadian Tire or it affiliated stores, though, then you might want to consider another credit card.
