In the world of rewards credit cards, the Triangle™ World Elite Mastercard® emerges as a leading option for Canadians seeking exceptional benefits with no annual fee. Designed for those who want to maximize their purchasing power, this card offers some of the highest earning rates of Canadian Tire Money® in the market. Whether you’re shopping for groceries, fueling your vehicle, or enhancing your lifestyle with premium products, the Triangle World Elite Mastercard ensures your spending translates into tangible rewards.
This card is not only about collecting rewards; it’s about redefining how you approach your daily expenses. In this guide, we’ll explore the card’s features in-depth, including its rewards program, exclusive benefits, potential downsides, and step-by-step instructions on how to apply. By the end, you’ll have all the information needed to decide if this card is right for you.
Key information about the credit card
How does the annual fee work?
One of the most compelling features of the Triangle World Elite Mastercard is its no annual fee policy. In the realm of credit cards, especially those offering premium rewards and exclusive perks, annual fees are common and can range from $100 to $500. The absence of this fee makes the Triangle World Elite Mastercard a standout choice for cost-conscious consumers who want top-tier benefits without the financial commitment of an annual charge.
How is the credit limit determined?
The credit limit for the Triangle World Elite Mastercard is determined through a combination of factors assessed during the application process. Canadian Tire Bank evaluates your credit score, income level, debt-to-income ratio, and overall financial health. These criteria ensure that the credit limit assigned is both manageable for the cardholder and reflective of their financial capacity.
Advantages of the credit card
- High earning potential: Earn 4% in Canadian Tire Money on eligible purchases at Canadian Tire, Sport Chek, Mark’s, and other partner stores. This rate is one of the highest in the market for store-specific rewards.
- Grocery rewards: Collect 3% in Canadian Tire Money on grocery purchases (excluding Costco and Walmart), up to $12,000 annually. This feature makes it ideal for everyday expenses.
- Fuel rewards: Save up to 7¢ per liter on premium fuel and 5¢ per liter on other fuel types at Gas+ and Petro-Canada stations. These rewards help offset rising fuel costs.
- Roadside Assistance Gold Plan: Enjoy up to 250 km of towing per service call, providing peace of mind during road trips.
- Purchase protection: Benefit from 90-day protection against loss, theft, or damage for most items purchased with the card, ensuring added security for your transactions.
- 0% financing options: Make equal monthly payments with no fees or interest on qualifying purchases over $150 at partner retailers, offering financial flexibility.
- Personalized offers: Receive exclusive promotions and bonus events to maximize your rewards potential.
- No foreign transaction fees on CT Money redemption: Redeem rewards for free products across partner stores without additional charges, simplifying the rewards process.
Standout advantage
The Triangle World Elite Mastercard’s rewards program is undoubtedly its most significant advantage. With high earning rates across various categories like groceries, fuel, and partner stores, this card ensures that everyday spending translates into valuable rewards. Additionally, the ability to stack rewards with personalized offers and exclusive promotions sets it apart from competitors. For example, during bonus days or with targeted promotions, you can exponentially increase your earnings, maximizing the value of each dollar spent.
Disadvantages
- High income requirement: A minimum annual income of $80,000 (or $150,000 household income) limits accessibility for many consumers.
- Limited grocery eligibility: Rewards are not earned at Costco or Walmart, which are popular grocery destinations for Canadians.
- Fuel rewards restrictions: The 7¢ per liter reward applies only to premium fuel, while other fuel types earn 5¢ per liter.
- Foreign transaction fees: Standard fees apply for international transactions, reducing its appeal for frequent travelers.
- No cash back: Rewards are limited to Canadian Tire Money, which must be redeemed at partner stores.
A standout disadvantage
The income eligibility requirement is perhaps the most significant downside of the Triangle World Elite Mastercard. By setting the bar at $80,000 individual or $150,000 household income, the card excludes a considerable portion of the population, including students, part-time workers, and those with moderate incomes. While the benefits justify the requirement, it’s a limitation that makes the card less inclusive compared to other options in the market.
Who can apply for this card?
To apply for the Triangle World Elite Mastercard, applicants must meet specific criteria. The card is available exclusively to Canadian residents aged 18 or older (or the age of majority in their province). Applicants must demonstrate good credit history, as the card is intended for individuals with a strong credit profile.
Additionally, the income requirement of $80,000 annually or $150,000 household income is non-negotiable, and proof of income is required during the application process. Unfortunately, this card is not available to those with poor credit or a history of missed payments, as approval depends on meeting strict eligibility standards.
How to apply for the Triangle World Elite Mastercard
For the website
To apply online, visit the official Canadian Tire Bank website and navigate to the Triangle World Elite Mastercard page. Click on “Apply Now” to start your application. The process involves filling out a detailed form with your personal and financial information, such as your name, address, income, and employment status. Once completed, the application is reviewed, and you may receive an instant decision. If approved, your card will be mailed to you within a few business days, making this method both quick and efficient.
Through the app
The Triangle app offers a modern and user-friendly way to apply for the card. After downloading the app from your preferred app store, log in or create a new profile. Navigate to the credit card section, select the Triangle World Elite Mastercard, and complete the application. The app also allows you to track your application status and manage your account once your card is approved. This method is ideal for tech-savvy individuals who prefer managing their finances on the go.
At the branch
For those who value in-person interaction, applying at a participating Canadian Tire location is a great option. Visit the customer service desk and request assistance with the Triangle World Elite Mastercard application. A representative will guide you through the process, clarify any doubts, and ensure your application is submitted correctly. This option is particularly beneficial if you have questions about the card’s features or need help with documentation.
