Triangle Mastercard Review 2024: Canadian Tire Credit Card

The Triangle Mastercard is one of the top no-annual-fee credit cards in Canada, that offers a wide range of rewards and unique perks, making it perfect for frequent shoppers, motorists, and anyone seeking to maximize their purchasing power in Canada.

With the Triangle Mastercard, you can earn 4% in CT Money on almost every purchase at your favourite stores, 1.5% at grocery stores, $0.05 per litre on gas purchases, and 0.5% everywhere else, all with no annual fees or income requirements.

In this Triangle Mastercard review, we’ll closely examine this Canadian Tire Credit Card, discussing its features and benefits, downsides, and interest rates, as well as how it stacks up against the Canadian Tire World Elite Mastercard.

Summary of the Triangle Mastercard

Canadian Tire Triangle Mastercard

No annual fee
No interest financing on eligible purchases
Annual Interest Rate: 19.99%
APR for Cash Advances: 22.99%

9.7

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Enjoy a whopping 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, and 5 cents per liter in savings when you fill up at Husky and Gas+ gas stations.

Pros

No annual fee
Great customer service ratings
No interest if approved for Canadian Tire financing
Earn CT Money when you use your card
Your charge can be financed with 24 monthly payments

Cons

High-interest rate of 19.99%
You must have at least a 660 credit score to apply
You can only use the card to receive interest-free financing at Canadian Tire-affiliated stores.
CT money can only be used at Canadian Tire

An Overview of Canadian Tire Triangle Mastercard

Canadian Tire Bank is a subsidiary of Canadian Tire Corporation. The bank was established in 2008 and is responsible for issuing the popular Triangle Mastercard. The Bank has become one of Canada’s leading providers of credit cards and other financial services.

The Triangle Mastercard, one of the Canadian Tire Bank products, is a highly versatile and valuable credit card that offers a range of rewards, benefits, and perks that cater to the diverse spending needs of Canadians.

Cardholders earn rewards points on every purchase made with the card, which can be redeemed for Canadian Tire Money, one of Canada’s most recognisable loyalty programs.

You can earn 4% cash back in CT Money on everyday purchases at Canadian Tire and other participating retailers, 1.5% on groceries, $0.05 on fuel and 0.5% back when shopping elsewhere.

The Triangle Mastercard also provides other valuable benefits, including extended warranties, purchase protection, and travel insurance.

As a product of Canadian Tire Bank, this credit card reflects the bank’s commitment to providing innovative and customer-focused financial solutions to Canadians.

Features of the Triangle Mastercard

The Canadian Tire Triangle Mastercard offers a wide range of amazing features, provided through its own bank division, Canadian Tire Bank.

1. No fee Financing

As a Triangle Mastercard cardholder, you can enjoy the no-fee financing benefit. This feature allows you to pay back on “qualifying” purchases (minimum $150) at Canadian Tire and other participating stores in monthly instalments without being charged a fee or interest.

However, You must make the minimum payment within the due date, or you will be charged interest for missing the monthly payment.

Your card’s APR will set the interest, and you’ll pay interest for every day you miss your payment.

2. Bill Payments

Also, the Triangle Mastercard allows you to pay your bills, such as property taxes, water bills, tuition expenses, and insurance premiums, through the Canadian Tire Bank.

This feature is not usually available with a simple cashback card. Using your credit card to pay those bills makes you eligible to earn CT Money regularly.

When using this option, ensure you can pay off what you owe in full every month and not carry a balance, or you will be charged a hefty interest.

3. Concierge Service

Through Mastercard’s “concierge service, ” Canadian Tire Triangle Mastercard helps you make travel, entertainment, shopping, and business arrangements.

With the concierge service, you can enjoy medical assistance and make appointments, book visitations, and plan prescription refills.

You can also call to make arrangements for emergency medical transportation, which can come in handy for overseas trips.

4. Roadside Assistance

Canadian Tire also has a roadside assistance gold plan for long distances or frequent commutes. When you activate your membership online, you enjoy free roadside assistance.

With this feature, you enjoy five free service calls annually, one towing service to a destination of your choice, fuel delivery, free extrication, a battery boost, winching services, and unlimited tows to Canadian Tire Auto Service Centres.

Canadian Tire Triangle Mastercard Benefits

Like every other credit card in Canada, the Triangle Mastercard offers an array of benefits, including the following:

1. Earning Rewards

If you often shop at Canadian Tire or its partner stores, you can quickly earn CT Money with this card. When you shop at Canadian Tire and select retailers for items like sports gear, home goods, and car rentals, you’ll earn a solid 4% back. However, when you shop elsewhere, the earn rate drops to 0.5%.

When you make purchases at Gas+ and Essence+ pumps, you’ll earn $0.05 back per litre on all fuel types, including diesel. There are no minimum or maximum fuel purchase requirements to qualify for this cashback rate.

You can also earn 1.5% back on groceries, up to $12,000 in purchases per year. However, this doesn’t include purchases at stores like Costco and Walmart.

2. Redeeming Rewards

Redeeming your rewards with the Triangle Mastercard is easy, as you can use your CT Money to make purchases online or at the cashier at any partner store.

Remember that $1 CT Money is equal to $1 of free stuff, so redeem your CT Money at Canadian Tire, Sport Chek, Mark’s, L’Équipeur, Atmosphere, Party City, Pro Hockey Life, Sports Rousseau, Hockey Experts, L’Entrepôt du Hockey, and other participating Sports Experts stores.

The simplest way to use your rewards is through the Triangle Mastercard Mobile App. This app gives you fast access to your total rewards and any bonus offers available.

3. No Annual Fee

One of the standout features of the Triangle Mastercard is its lack of an annual fee. This means you can enjoy all the benefits of the card without worrying about any extra costs eating into your savings.

Whether you’re a frequent shopper or an occasional spender, having no annual fee gives you peace of mind knowing that you’re not paying extra just to use your credit card.

4. Online Accounting Services

You can easily manage your Triangle Mastercard account online, anytime, anywhere.

With just one profile, you can see your credit card account and reward balances, access special cardholder offers, sign up for e-statements and explore our range of digital services – all right at your fingertips. Plus, you can manage upcoming payments whenever and wherever you like.

5. No Income Requirements

Unlike many other credit cards, the Triangle Mastercard doesn’t have strict income requirements. This means that it’s accessible to a broad range of individuals, regardless of their income level.

Whether you’re just starting to build your credit history or have varying income situations, you can still apply for and benefit from the Triangle Mastercard’s rewards and perks.

Canadian Tire Triangle Mastercard Drawbacks

While this Canadian Tire Credit Card offers lots of benefits and rewards, there are some downsides that you should consider before applying:

1. Low Rewards Rate

While the Triangle Mastercard offers several benefits, it’s important to note that its rewards rate may not be as competitive as some other credit cards on the market.

While it still provides value, especially for frequent shoppers at Canadian Tire and partner locations, if you are looking for higher reward rates, you may want to explore alternative options that better match your spending habits and financial objectives.

2. No Welcome Bonus

Unlike certain credit cards that entice new cardholders with attractive welcome bonuses, the Triangle Mastercard does not offer such introductory perks. This means that you will not receive an initial boost of rewards or benefits upon signing up for the card.

For those who prioritize immediate rewards or incentives, it’s worth considering whether the absence of a welcome bonus affects their decision-making process when choosing a credit card.

3. Only Earns Rewards in CT Money

A distinguishing feature of the Triangle Mastercard’s rewards program is that it exclusively earns rewards in Canadian Tire (CT) Money.

While CT Money can be redeemed at Canadian Tire, SportChek, Mark’s, and participating gas stations, as well as for online purchases, it’s crucial for you to evaluate whether this form of currency aligns with your spending habits and preferences.

4. No Insurance Coverage

Unlike premium credit cards that often come with various insurance coverages, such as travel insurance, purchase protection, and extended warranty coverage, the Triangle Mastercard does not provide any insurance benefits.

This means that you won’t have access to additional protections or benefits typically associated with higher-tier credit cards.

While the Canadian Tire Triangle Mastercard doesn’t charge annual fees, it charges other fees, including:

Cash Advance: 22.9%
Foreign Transaction Fee: 2.5%
Interest Rate: 19.99% – 27.99%

What is the Triangle Mastercard Credit Limit?

The credit limit assigned to your Triangle Mastercard is influenced by various factors evaluated during the application process, notably your credit history and income level.

The Canadian Tire Bank will assess your application and assign you a credit limit based on your credit history and income level.

If you want to increase your Triangle Mastercard credit limit, you’ll need to reach out to Canadian Tire directly and make a formal request. This typically involves providing updated financial information and undergoing a review process by the Canadian Tire Bank.

You can contact the Triangle Mastercard Customer Service at 1 800 459-6415 (905-735-7256 for overseas contact).

Canadian Tire Mastercard customer service hours are between 6 am – 10 pm (EST) on Monday to Friday, 7 am – 8 pm (EST) on Saturday, and 8 am – 8 pm (EST) on Sunday.

Is Canadian Tire Triangle Mastercard Right For You?

Whether the Triangle Mastercard is the right choice for you depends on your spending habits, lifestyle, and financial goals.

If you are a frequent shopper or motorist who regularly purchases at Canadian Tire or other affiliated retailers, the rewards program offered by Canadian Tire Mastercard may be highly attractive to you.

The ability to earn rewards points on every purchase and redeem them for CT Money or cashback rewards can provide significant savings and value over time.

Also, you don’t need to make a certain amount of money to get approved, and there are no annual fees to surprise you on the credit card bill.

The Roadside Assistance program offered by the Canadian Tire Mastercard is a unique and highly valuable benefit, especially for motorists who frequently travel long distances.

However, the Triangle Mastercard has interest rates and fees, like any credit card, and you should consider them carefully. Make sure to read the fine print and understand the costs associated with the card before applying.

Triangle Mastercard vs Triangle World Elite Mastercard

The Canadian Tire Bank offers the Triangle Mastercard and the Triangle World Elite Mastercard.

The Triangle Mastercard is a basic credit card designed for everyday use, offering 4% cashback rewards on purchases made at Canadian Tire stores and affiliated retailers and 0.5% cashback on all other purchases.

On the other hand, the Triangle World Elite Mastercard is a more premium credit card that offers enhanced rewards and benefits. It offers 4% cashback rewards on purchases made at Canadian Tire stores and affiliated retailers and 1% cashback on all other purchases.

It also offers $0.05 – $0.07 CT Money per litre on Gas+ Fuel purchases and 3% CT Money at Grocery Stores, up to the first $12,000 per year.

In addition, it offers a range of travel benefits, such as travel medical insurance, trip cancellation insurance, and rental car collision damage waiver coverage.

The Triangle World Elite Mastercard also comes with Mastercard’s World Elite benefits, such as access to exclusive travel experiences, 24/7 concierge service, and premium rewards and benefits from select retailers.

Final Thoughts on Canadian Tire Triangle Mastercard

The Canadian Tire Triangle Mastercard is a versatile credit card that caters to the diverse spending needs of Canadians.

Its rewards program, flexible redemption options, and valuable perks make it a popular choice for frequent shoppers, motorists, and anyone who wants to maximise their purchasing power.

While the card has its benefits, it has some downsides, including a low rewards rate and no insurance coverage.

If you’re looking for a more premium credit card, the Triangle World Mastercard and the Triangle World Elite Mastercard provide enhanced rewards and benefits.

Ultimately, you should consider your spending habits, lifestyle, and financial goals before deciding which Canadian Tire Triangle Mastercard is right for you.

FAQs on Canadian Tire Triangle Mastercard

What credit score do you need for the Triangle Mastercard?

The credit card requires a good or excellent credit score but doesn’t list the specific requirements. You could be considered if you have credit scores between 660 and 760, but 900 is a perfect credit score.

What stores accept Canadian Tire Triangle Mastercard?

Any store in Canada that accepts Mastercard will accept the Triangle Mastercard. However, you will earn more cashback if you purchase at Canadian Tire stores, participating retailers, grocery stores, and car rental services.

What is the annual fee for Triangle Mastercard?

The Triangle Mastercard has no annual fee or income requirements.