Laurentian Bank has come a out with a whole new portfolio of credit cards that covers travel rewards, cash back rewards and more. While issued by Laurentian Bank, the new cards are powered by Brim Financial on the back end and have some elements that are reminiscent of Brim’s own card offerings. Let’s take a look at these new cards!
Laurentian Bank Visa Infinite Card
Laurentian’s new flagship card is an all-round points rewards card with a good welcome bonus, decent everyday earn rates and good out of province medical insurance coverage.
Annual Fee
The new Laurentian Bank Visa Infinite Card runs $130 per year for the primary card and $50 for authorized users. The current welcome bonus offer sees the annual fee on the primary card and up to two authorized user cards waived in the first year
Welcome Bonus
The current welcome bonus has several parts to it. The first is a boosted earn rate for the first three months of 6x the points (equal to 12% in cash back) on gas, grocery, travel, transportation and recurring payments. All other spending will earn 3x the points equal to 3% in cash back up to a total combined spend of $5,000 in those initial three months
The second part are bonus points for completing several actions with your new card account. These bonus points are as follows:
- 10,000 bonus points when you set up a pre-authorized payment within the first 3 months
- 5,000 bonus points when you set up an installment plan for 1 eligible purchase within the first 3 months
- 2,000 bonus points worth $20 when you refer a friend or family member
Earn rates & reward options
Once the introductory welcome bonus earn rates are complete the card earns points as follows:
- 2 points on Gas, Grocery, Travel and Transportation
- 2 points on Recurring Payments
- 1 point on everything else
The card also earns up to 30% extra points when you shop through Laurentian’s eShop (These are the same online partners as Brim)
Redeeming points is easy with the card, you simply redeem your points as cash back toward purchase made on the card and you can redeem as little as $1.
Insurance
The card comes with an OK insurance benefits package. It has out of province emergency medical coverage of 31 days for those 65 and under and 15 days for those 66 to 75 years old. There is trip cancellation, trip interruption, baggage and car rental CDW coverage. It also has your standard purchase assurance and extended warranty benefits. Noticeably missing are flight delay, lost or stolen baggage and hotel/motel burglary insurance.
Click here to learn more about the Laurentian Bank Visa Infinite Card
Laurentian Bank Visa Cashback Card
For those that don’t require the extras or perhaps don’t meet the income requirements of the Visa Infinite card, Laurentian’s new cashback card is a good alternative.
Annual Fee
The new Laurentian Bank Visa Cashback Card runs $65 per year for the primary card and there is no fee for authorized users. The current welcome bonus offer sees the annual fee on the primary waived in the first year
Welcome Bonus
The current welcome bonus has several parts to it. The first is a boosted earn rate for the first three months of 6% cash back on gas, grocery and recurring payments. All other spending will earn 2% cash back up to a total combined spend of $5,000 in those initial three months
The second part are bonus points for completing several actions with your new card account. These bonus points are as follows:
- $50 cash back when you add an authorized user
- $100 cash back when you set up a pre-authorized payment within the first 3 months
- $50 cash back when you set up an instalment plan for 1 eligible purchase within the first 3 months
- $20 cash back when you refer a friend or family member.
Earn rates & reward options
Once the introductory welcome bonus earn rates are complete the card earns cash back as follows:
- 2% on Gas and Grocery
- 2% on Recurring Payments
- 1% on everything else
The card also earns up to 30% extra cash back when you shop through Laurentian’s eShop (These are the same online partners as Brim)
Redeeming is easy with the card, you simply redeem your cash back toward purchase made on the card and you can redeem as little as $1.
Insurance
The card has simple insurance coverage of purchase assurance and extended warranty benefits.
Click here to learn more about the Laurentian Visa Cashback card
Laurentian Visa Reduced Rate Card
For those who carry a balance and are looking to pay lower interest rates on that balance this is a consider. The card has a 12.49% interest rate on purchases and 13.99% on cash advances.
Annual Fee
The new Laurentian Visa Reduced Rate Card runs $30 per year for the primary card and there is no fee for authorized users.
Welcome Bonus
The current welcome bonus for this card provides points for completing several actions with your new card account. These bonus points are as follows:
- 5,000 bonus points worth $50 when you make your first purchase within the first 3 months
- 2,000 bonus points worth $20 when you add an authorized user
- 2,000 bonus points worth $20 when you set up a pre-authorized payment within the first 3 months
- 2,000 bonus points worth $20 when you refer a friend or family member
Earn rates & reward options
This card doesn’t have any basic reward points earning however you will earn points with special merchant offers or when you shop through Laurentian’s eShop (These are the same online partners as Brim)
Redeeming is easy with the card, you simply redeem your cash back toward purchase made on the card and you can redeem as little as $1.
Insurance
The card has no insurance coverage
Click here to learn more about the Laurentian Visa Reduced Rate card
Laurentian Visa Reward Me Card
This is the bank’s new no fee rewards card.
Annual Fee
The new Laurentian Visa Reward Me Card runs has no annual fees associated with it.
Welcome Bonus
The current welcome bonus has several parts to it. The first is a boosted earn rate for the first three months of 3x the points (equal to 3% in cash back) on gas, grocery, and recurring payments. All other spending will earn 2x the points equal to 1% in cash back up to a total combined spend of $3,000 in those initial three months
The second part are bonus points for completing several actions with your new card account. These bonus points are as follows:
- 5,000 bonus points worth $50 when you make your first purchase
- 5,000 bonus points worth $50 when you add an authorized user
- 5,000 bonus points worth $50 when you set up a pre-authorized payment within the first 3 months
- 2,000 bonus points worth $20 when you set up an instalment plan for 1 eligible purchase within the first 3 months
- 2,000 bonus points worth $20 when you refer a friend or family member
Earn rates & reward options
Once the introductory welcome bonus earn rates are complete the card earns points as follows:
- 1 point on Gas, and Grocery
- 1 point on Recurring Payments
- 0.5 points on everything else
The card also earns up to 30% extra points when you shop through Laurentian’s eShop (These are the same online partners as Brim)
Redeeming is easy with the card, you simply redeem your cash back toward purchase made on the card and you can redeem as little as $1.
Insurance
The card has simple insurance coverage of purchase assurance and extended warranty benefits.
Click here to learn more about the Laurentian Visa Reward Me card
Wrapping it up
Laurentian Bank has a new line up of credit cards that are now available to all Canadians. For the most these are middle of the road cards in their respective categories. Are they the best cards out there? No. But they aren’t the worst either. They are some good options especially for those who bank with Laurentian and like to keep all their financial products with one institution.
Thanks to Daylen for the heads up on the launch of these new cards!
Images via Laurentian Bank