If you are a frequent shopper at Canadian Tire, then you must have heard about the Canadian Tire Money (CT Money) and the Triangle Mastercard offered by the Canadian Tire Bank.
In this Triangle Mastercard Review, we examine the features, merits, and drawbacks of the card, and we will also look at other product offerings in the Canadian Tire financing program.
The Triangle Mastercard is predominantly a cashback credit card that extends Canadian Tire financing to its cardholders, enabling them to make payments now and pay back the money later.
Further, Triangle Mastercard holders can collect a varying percentage of CT Money cashback on all purchases, and save money when they purchase gas from Gas+ and participating Husky stations.
Unless you shop frequently at Canadian Tire, the Triangle Mastercard is not interesting nor competitive and offers no real perks.
Stay with me on this product review as we look in-depth at its features, merits, and demerits.
Canadian Tire Triangle Mastercard Review Summary
- No annual fee
- No interest financing on eligible purchases
- 4% cashback in Canadian Tire Money when you shop at all Canadian Tire partner stores
- 1.5% cashback in Canadian Tire Money on grocery purchases from all Canadian grocers excluding Walmart and Costco
- 0.5% cashback in Canadian Tire Money on all other purchases
- 5 cents per litre in savings when you fill up at Husky and Gas+ gas stations
- Annual Interest Rate: 19.99%
- APR for Cash Advances: 22.99%
- No annual fee
- 19.95% Interest rate for purchases, cash advances, and balance transfer
- 2% cashback in up to 3 spending categories; 0.50% on other purchases.
- Welcome Bonus: Extra 10% cashback which worth up to $100 value.
- Mobile device insurance, Auto Rental Collision/Loss Damage Insurance, Boingo Wi-Fi for Mastercard®, Mastercard® Airport Experiences, Mastercard® Travel Rewards Program, On-demand and subscription services.
Triangle Mastercard Review: Features, Perks, and Benefits
As a frequent Canadian Tire Shopper with a Triangle Mastercard, there is a handful of rewards and benefits that you should know about.
This card is a no-fee credit card with decent cashback and gas rewards that otherwise lack perks and benefits – thus NOT making it one of the best credit cards in Canada.
1. Brand Deals: The card provides 4% cashback in CT Money on qualifying purchases at Canadian Tire, Atmosphere, Hockey Experts, L’Entrepôt du Hockey, Mark’s/L’Équipeur, Party City, Sport Chek, Sports Rousseau, and other participating Sports Experts stores.
2. Groceries: The card provides 1.5% cashback in CT Money when you purchase groceries (on the first $12,000 per year) from all grocers excluding Walmart and Costco.
3. Cashback: The card provides 0.5% cashback in CT Money on all other purchases.
4. Gas: Cardholders can earn 5¢ per litre in CT money when they fill up at Canadian Tire partner gas stations like Husky and Gas+.
5. Fees: The card has no annual fees.
6. No-Interest Financing: Triangle Mastercard offers 0% interest financing when you make purchases of $150 and above. If you’re thinking, ‘But isn’t that every purchase?’, you are right! You can turn eligible big purchases into small 24 equal monthly payments at a $0 fee.
7. Friendly Return Policy: Cardholders can return products to Canadian Tire stores and get reimbursed without showing a sales receipt if the purchase was made using the Triangle Mastercard. Wow! What freedom!
8. Exclusive Access To Events: Triangle Mastercard holders can have access to Members-Only Invites and Offers. Throughout the year, you can get exclusive benefits including sports tickets and dining experiences. Using the Triangle App, you can find special events, shopping deals, promotional discounts, and more.
9. Offers tailored to your needs
Although the Triangle Mastercard appears to have a lot of perks on the surface, we can clearly see that this card doesn’t offer enough rewards to warrant its use over other cards unless you are a die-hard Canadian Tire customer who racks up tons of purchases there every year.
If you are not one, you should probably go with other more rewarding options, such as the Tangerine World Mastercard, RBC World Elite Master Card, or other cards which have a lot to offer.
Triangle Mastercard Review: Downsides and Cons
The Triangle Mastercard is not the best cashback credit card in the market, and it is merely a rewards card beneficial only to frequent Canadian Tire shoppers.
It’s not competitive, and some aspects of this card make it less than ideal for others that do not shop at Canadian Tire.
1. The Triangle Mastercard has a low earn rate of 0.5% CT Money cashback on most purchases especially when you make purchases outside Canadian Tire and its partner stores.
2. No Welcome Bonus. Considering the fact that the product is not that extraordinary, It would be an excellent deal if the card came with an incentive such as a welcome bonus.
3. Rewards are only redeemable at Canadian Tire stores.
4. Costco and Walmart purchases do not qualify.
5. No complimentary insurance coverage, extended warranty, or any purchase protection of any sort.
6. This card is just a mere lackluster basic reward card with no real perks, incentives, or benefits.
Eligibility for Canadian Tire Triangle Mastercard
There are no eligibility requirements for getting a Canadian Tire Triangle Mastercard.
You also do not need a minimum credit score in order to apply for their card. But we would suggest that you have a score of 670 or above.
Canadian Tire Roadside Assistance: The Triangle Reward You May Truly Need
Asides from the obvious perks the basic Triangle Mastercard offers, there is one Triangle reward that might be interesting to have even though you will need the Triangle World Elite Mastercard to unlock it.
The reward is the Roadside-Assistance Gold Plan. With this plan, you will get help when you have a flat tire or a dead battery and you are in dire need of road assistance. You can get the peace of mind you need at no additional cost if you have the Triangle World Elite Mastercard.
Each year, you will get five free service calls, one towing service to a place of your choosing, and infinite tows to Canadian Tire Auto Service Centers throughout the country.
You will also get a battery boost and fuel delivery, as well as complimentary extrication and winching services.
I believe this perk is truly an excellent one, and with this card, you can save money on your roadside assistance subscription eg (CAA) if you have one.
Besides, knowing you can get help in time when you need it during the chilly Canadian winter season is truly freeing.
In closing, the Canadian Tire Financing program is a worthwhile addition to the Canadian Tire shopping experience.
The Triangle Mastercard is definitely not the best on the shelf, but the good news is that the Canadian Tire bank offers other credit cards that may offer you more and serve your needs better.
However, if you shop frequently from Canadian Tire and its partner stores, the Triangle Mastercard may not be bad for you.
How Does the Triangle Mastercard Compare to the Triangle World Elite Mastercard?
The Triangle Mastercard and the Triangle World Elite Mastercard can both be useful if you know what you want out of them. The peculiarities and similarities of these cards are visualized in the table below:
Features | Triangle Mastercard | Triangle World Elite Mastercard |
Annual fees | No annual fees | No annual fees |
CT Money earnings | 4% CT on valid purchases at Canadian Tire, Sport Chek, and Marks/Atmosphere | 4% CT on valid purchases at Canadian Tire, Sport Chek, and Marks/Atmosphere |
CT Money earnings on grocery purchases | - | 3% on grocery purchases, up to $12,000 per year |
CT Money earning on other purchases | 1% earning | 1% earning |
Fuel discount | 5 cents/litre on regular and mid-grade fuel | 7 cents/litre on premium fuel fill-ups at participating gas stations. 5%/litre for other grades of fuel |
No interest financing on purchases | On purchases over $200 (at Triangle stores) | On purchases over $200 (at Triangle stores) |
Purchase interest rate and cash advances | 19.99% purchase interest rate/22.9% on cash advances | 19.99% purchase interest rate/22.9% on cash advances |
Insurance | - | Car rental damage waiver insurance |
Customer service | Basic priority customer service | Enhanced customer service (higher priority) |
RELATED: Canadian Tire Roadside Assistance
Is the Triangle Mastercard worth it?
The Triangle Mastercard is worthwhile if you’re a frequent customer of Canadian Tire because the rewards rate is considerably high and it gives you the opportunity to earn Canadian Tire Money.
That said, if you’re making purchases in other places, you probably won’t get much out of this card. You would be much better off finding a card with a higher rewards rate or one that offers rewards from a place you like to shop.
In a nutshell, you may only get Canadian Tire Money if you’re a frequent user of the Triangle Mastercard.
But if you’re looking for a high rewards rate card for external purchases, the Triangle Mastercard is not ideal for you. Instead, I’ll recommend to you the Tangerine World Mastercard and the Triangle Money-Back Credit Card.
- No annual fee
- 19.95% Interest rate for purchases, cash advances, and balance transfer
- 2% cashback in up to 3 spending categories; 0.50% on other purchases.
- Welcome Bonus: Extra 10% cashback which worth up to $100 value.
- Mobile device insurance, Auto Rental Collision/Loss Damage Insurance, Boingo Wi-Fi for Mastercard®, Mastercard® Airport Experiences, Mastercard® Travel Rewards Program, On-demand and subscription services.
- No annual fee
- 19.95% Interest rate for purchases, cash advances, and balance transfer
- 2% cashback in up to 3 spending categories; 0.50% on other purchases.
- Welcome Bonus: Extra 10% cashback that is worth up to $100 value.
FAQs on Triangle Mastercard Review
Does Triangle Mastercard Build credit?
No. The Triangle Mastercard does not offer special credit building or credit repair services since it’s just a regular cashback credit card.
However, you can improve your credit score by paying off your credit balance, paying more than the minimum payment, or at the least paying the minimum monthly payment on time before it’s due.
Do this so that you don’t get hit with late fees and higher interest rates.
How do you avoid the Triangle Mastercard finance charges?
Pay your monthly balances in full and on time. This is the best way to avoid finance charges. No interest will accrue on your credit if you pay your complete balance each month within the grace period.
Is Triangle Mastercard a credit card?
Yes, Triangle Mastercard is a credit card valid at all locations that accept Mastercards.
Can I have 2 Triangle Mastercards?
Yes. Although the two cards issued to the same member cannot be connected to the same Triangle Rewards Account.
A Member may request the issue of extra Triangle Rewards Cards with the Member’s Triangle Rewards Account number.
How does the equal payment plan work in Canadian Tire financing?
The entire cost of the purchase is divided into equal monthly installments. If you make your minimum payment (as stated on your monthly statement) on or before the due date, you won’t be charged any fees or interest.
How Does the Canadian Tire Money Rewards Program work?
If you patronize Sport Chek, Canadian Tire, Mark’s/L’Equipeur, Party City, Gas+/Essence+, Pro Hockey Life, Atmosphere, Sports Rousseau, L’Entrepôt du Hockey or Hockey Experts, the Canadian Tire Money Reward is yours for the taking.
You can also redeem Canadian Tire Money via online purchases at Marks.com, partycity.ca, SportChek.ca, prohockeylife.com, CanadianTire.ca, Sportexperts.ca, and Atmosphere.ca.
To become a member of the Triangle Rewards program and start collecting Canadian Tire Money, you will have to go through their registration process.
Is It Easy to Get Approved for Triangle Mastercard? Is The Triangle Mastercard Easy To Get?
Canadian Tire Triangle Mastercard makes it easy to get approved and start using your card instantly.
You could be approved in little to no time, and then you can use your new Triangle Mastercard right away, even before you get hold of your physical card.
Not only does this make it super easy to buy the things you need, but it also gives you time to do some research on what kind of credit card is best for you and your lifestyle.
You can also conveniently add Triangle Mastercard to your Android Pay or Apple Pay.
What Credit Score Do You Need for Triangle Mastercard?
The Triangle Mastercard doesn’t require a minimum credit score of any kind. However, individuals with lower credit scores may be subject to higher purchase interest rates.
What Is the Limit on Triangle Mastercard?
There is a yearly limit of $12,000 (if you are shopping for groceries at stores that recognize Canadian Tire Money). The equivalent of this amount in Canadian Tire Money is $180 a year.
Keep in mind that Walmart and Costco are not considered to be under the category of grocery stores.
