As a Canadian citizen/permanent resident, there is a high chance that you have visited Canadian Tire, Sport Chek, Mark’s, and Gas+ stores. We guess that a good percentage of you reading this article are regular customers at these places.
This is the main reason why we have decided to review the Triangle Mastercard Credit Card. It is highlighted by a superb Canadian Tire Money rewards program and an interest-free period that goes up to 12 months.
On the other hand, it does have a couple of drawbacks that you should be aware of. Thus, we suggest that you read on and find out whether this credit card is something that you can benefit from!
Fees and Charges
The first thing that you may be interested in is the annual percentage rate. Apart from your credit history, it depends on where you reside. For example, if you are in Quebec, you may be subjected to a 21.99% APR, while that would be set at 24.99% for those outside of Quebec.
The APR for cash transactions and related fees is set at 27.99%. With a good credit record, you may be looking at an interest rate of 19.99% for purchases and 22.99% for cash advances/balance transfers.
Similar to other popular store credit cards, you won’t pay any annual fee for this card. For a cash advance, you will be subjected to a $4 fee, while the cost of a dishonored payment is $25.
When it comes to the credit balance fee, it is either $10 or your current balance, depending on which sum is lower. For those who travel on a regular basis, the foreign conversion fee rate is set at 2.5%.
How To Apply
Believe it or not, the Triangle Mastercard Credit Card is one of the easiest cards to get approved for. This is because there is no required annual income or credit score. This makes it much easier for anyone with a bad credit history to get approved.
You must be a Canadian citizen or a permanent resident who is over 18 years of age. Through the application inquiry, you will have to submit necessary documents, such as a copy of your ID, proof of address, and proof of income.
The good thing is that you don’t have to go to your nearest branch because you can fill out the aforementioned form online and wait only a few minutes as the commission reviews and potentially approves your application.
Features and Benefits
While this credit card offers a number of store-related rewards, you should know that there isn’t any welcome bonus. As for cashback, you are looking at 4% for each dollar spent in Canadian Tire, Sport Chek, Mark’s, and Atmosphere retail stores.
Additionally, you can get 1.5% cashback for grocery purchases, as long as you don’t exceed the annual limit of $12.000. Finally, you can enjoy 0.5% cashback for all other purchases.
If you are currently financing through Canadian Tire, you won’t be subjected to any interest or fees for 12 months. However, there is no insurance, and the fact that the rewards are limited to the aforementioned stores might serve as disadvantages.
Bank Contact Details
If you are already going to use a credit card, you will want customer support that is reliable and available. Triangle and Canadian Tire Bank recognize that need and offer a couple of contact forms as below.
Physical Address: 2180 Yonge Street, ON M4P 2V8 Toronto
Phone Number: 1-800-459-6415; 24/7, 365 days a week
Mail Address: PO BOX 2000, Station Main, Welland, ON, LSB 5S3
Online: click here
We did our best to cover all the aspects of the Triangle Mastercard Credit Card, including both the rewards program, as well as relevant interest and fees.
Taking everything into consideration, we think that it is a good financing option for those of you who enjoy shopping at Canadian Tire, Sport Chek, Mark’s, and Atmosphere.
Note: There are risks involved when applying for and using credit. Consult the bank’s terms and conditions page for more information.