Canadian Tire Mastercard

As you can see, the key features all revolve around Canadian Tire: you earn 1.5% back in CT Money (Canadian Tire Money) on grocery purchases and 4% back on purchases at Canadian Tire, Sport Chek, Atmosphere, Mark’s Work Wearhouse, Sports Experts, Hockey Experts, Sports Rousseau, L’Entrepôt du Hockey, and L’Équipeur. You also save 5¢ per liter on gas, though only at Canadian Tire Gas+ gas stations.

The other fees to be aware of are the $4 cash advance fee and 2.5% foreign transaction fee, which make it an expensive card for use abroad. The Canadian Tire Triangle Mastercard does not carry an annual fee.

Reasons I Don’t Recommend The Canadian Tire Triangle Mastercard

The Canadian Tire Triangle Mastercard may sound compelling at the outset, but in reality, it’s not as good as many other Canadian credit cards. Here are just a few reasons why I can’t recommend this card:

1. No welcome bonus

Perhaps the most obvious drawback of the Triangle Mastercard is that it doesn’t come with any welcome bonus. Welcome bonuses on great cards are often worth $500 or more, and really exceptional cards carry welcome bonuses that are worth even more.

For example, the welcome bonus on the Amex Cobalt Card is 50,000 MR points (worth $1,000 – $1,500), while the welcome bonus on the Marriott Bonvoy Card is 70,000 Marriott Bonvoy points (worth $1,400 – $2,100).

2. Extremely low earn rate

While it may sound enticing that you earn 4% CTM on Canadian Tire purchases, the earn rate on other non-grocery purchases is just 0.8%, which is extremely low. To put it in perspective, you can earn up to 10% back on your spending with the American Express Cobalt Card.

3. You can only use your CTM at Canadian Tire

Most credit cards offer a wide variety of ways in which you can use your rewards: for travel, as cash against your statement balance, and more. But with the Triangle Mastercard, you can only use your rewards at Canadian Tire. If you don’t shop at Canadian Tire regularly, then, this is definitely not the card for you.

4. There aren’t many Gas+ gas stations

There are only about 300 Canadian Tire Gas+ gas stations across all of Canada, and if you don’t live near one of them, you lose the primary benefit of this card. Even if you do live near a Gas+ gas station, though, gas prices there tend to be about 2-3¢ higher per liter than surrounding gas stations, severely limiting the value of the card.

Overall, the two primary benefits of the Triangle Mastercard—the 0.8% CTM earn rate and the 5¢ per litre gas savings—aren’t that great once you look at them a little more closely. That’s why I can’t recommend this card.

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Canadian Tire Mastercard

The Canadian Tire Triangle World Elite Mastercard has a collection of unique features. With no annual fee, it may appeal to a variety of people as a long-term keeper card.

This card may be of interest to outdoor enthusiasts and handymen, road trippers and commuters, or anyone with bill payments to payees that don’t normally accept credit cards.

Bonuses & Fees

New cardholders can earn 15% cash back equivalent on their first purchase at participating retailers, up to a maximum of $50 value.

Sometimes you may also find a $25 incentive for applying in store.

The card has no annual fee.

Earning Rewards

The card earns Canadian Tire Money, also known as Triangle Rewards:

• Earn 4% back at Canadian Tire brands
• Earn 3% back on groceries, up to $12,000 spent per calendar year
• Earn 5 cents per litre at Canadian Tire Gas and Husky
• Earn 1% back on all other purchases

Canadian Tire brands include a variety of retailers, with an emphasis on sports and outdoors. Here are a few of their major partners:

• Canadian Tire
• SportChek
• Atmosphere
• Mark’s Work Wearhouse
• Hockey Experts

Redeeming Rewards

Canadian Tire Money can be redeemed for purchases at Canadian Tire brands, including the stores mentioned above. If you shop at those stores, your rewards are effectively the same as cash back.

Rewards expire after 18 months of inactivity, but you don’t have to remain a cardholder to keep your account active. If you ever decide to close the credit card, you can still earn Canadian Tire Money by scanning your Triangle membership card when you make a purchase at a partner store.

You can learn more about the Triangle Rewards program on the Canadian Tire website.

Perks & Benefits

Canadian Tire’s credit cards have a unique feature where you can make bill payments from your credit card to select payees. These payments can be set up by finding the biller in the Canadian Tire online banking login, rather than by providing the biller with your credit card number. This may allow you to pay bills with a credit card for certain billers that don’t accept regular credit card payments.

The Triangle World Elite Mastercard comes with a complementary Roadside Assistance Gold Plan membership. It includes 24-hour assistance, towing to the destination of your choice within 250 kilometres in Canada and the US, and services such as fuel delivery, flat tire changes, and jumpstarting your battery. This is superior to the roadside assistance benefits on other cards, which often stipulate that they’ll only tow you to the nearest service centre, not to your preferred location.

Finally, the card offers zero-interest financing on purchases at Canadian Tire brands.

Insurance Coverage

The card has no notable travel insurance coverage, just standard coverage for rental car damage, extended warranty, and purchase protection.