Credit Cards

Alterna Visa Infinite Card

  • Last Updated:
  • Aug 4th, 2018 12:20 pm
Tags:
None
Member
User avatar
Jan 16, 2007
498 posts
319 upvotes
Bad news. The site has been updated:

Get 2 points for every $1 spent on eligible Canadian and foreign currency purchases
Deal Addict
User avatar
Feb 1, 2006
1957 posts
429 upvotes
joshnet wrote:
Jan 3rd, 2018 12:49 pm
Bad news. The site has been updated:

Get 2 points for every $1 spent on eligible Canadian and foreign currency purchases
That was quick!

Makes it indistinguishable from several other Collabria 2% cards from other CUs now. 2% rewards, fees $120/50, 2.5% FX fee, 48 day medical travel insurance, etc. Still a pretty good card especially when you pair with Rogers MC/Fido MC for MC spending and (effectively) no FX fee.

Or perhaps this one is better to pair with Rogers MC/Fido MC?

https://www.meridiancu.ca/Personal/Cred ... -Card.aspx

Earn 4%^ cash back on gas and grocery store purchases
Earn 2%^ pharmacy purchases and utility bill payments
Use Rogers MC/Fido MC for 1.75%/1.5% cashback on all other purchases and FX purchase.

$99 AF (first year free) and $30 AF for authorized user-both lower than Alterna Infinite Visa.

Could work out better if you have high spend in gas/groceries category.

And Meridian is very clear that they are open to all Canadians.
Alterna Savings Visa Infinite
2% cold hard cash on everything, no caps, VISA acceptance
48 day medical insurance, trip cxl, trip interrupt
Discuss here
Member
User avatar
Jan 16, 2007
498 posts
319 upvotes
Yeah, I still haven't received any postal mail about it. If I do get the card then I don't quite know what I'll do. Oh well, cross that bridge later.
[OP]
Member
Dec 12, 2016
201 posts
94 upvotes
joshnet wrote:
Jan 3rd, 2018 3:15 pm
Yeah, I still haven't received any postal mail about it. If I do get the card then I don't quite know what I'll do. Oh well, cross that bridge later.
I would complain as you applied based on what they were advertising originally. And if they refuse (which I’m sure they will), they should be willing to remove the inquiry off your file (if you still don’t want the card).
Member
User avatar
Jan 16, 2007
498 posts
319 upvotes
Yes, I'll cross that bridge if it comes up.
Member
Dec 26, 2015
266 posts
79 upvotes
Manitoba
got this email today
Thank you for your recent application and interest in the Alterna Savings Collabria VISA* INFINITE CARD. We want to inform you that your application status is currently on hold, pending the receipt of additional information from you.

The below information is needed within 30 days to make a final decision on your application. If the information is not received by this date, your application will no longer be considered and you will need to reapply for the Alterna Savings Visa. You will also receive a physical letter requesting this same information.

Member Verification Required. Please provide a copy of the most recent account statement from the institution through which you applied.
Verification of Date of Birth. Please provide a copy of your Driver's Licence, Provincial/Territorial ID card, Passport, Permanent Resident Card, Secure Certificate of Indian Status, of Birth Certificate.
Don't know how to provide a statement from institution applied sine I'm not part of Alterna or Collabria
Member
User avatar
Jan 16, 2007
498 posts
319 upvotes
Interesting. I haven't received such a thing (maybe I will later). The application also asked whether you were a member or not (I didn't check that as I'm not). Did you also not check it?
Member
Dec 26, 2015
266 posts
79 upvotes
Manitoba
joshnet wrote:
Jan 3rd, 2018 4:15 pm
Interesting. I haven't received such a thing (maybe I will later). The application also asked whether you were a member or not (I didn't check that as I'm not). Did you also not check it?
I definitely checked no if that was an option, or left it unchecked. I emailed them but haven't heard back, I'll give them a call tomorrow morning and ask what they want
Member
Jan 14, 2017
210 posts
93 upvotes
Veeshmack wrote:
Jan 3rd, 2018 4:17 pm
I definitely checked no if that was an option, or left it unchecked. I emailed them but haven't heard back, I'll give them a call tomorrow morning and ask what they want
Yeah, this card quickly changes from the "GREAT TO HAVE" card to the "MEDIOCRE and PAIN TO GET".
Deal Addict
User avatar
Feb 1, 2006
1957 posts
429 upvotes
Vasyllaw wrote:
Jan 3rd, 2018 4:25 pm
Yeah, this card quickly changes from the "GREAT TO HAVE" card to the "MEDIOCRE and PAIN TO GET".
AGREED. Don't think I want to start open extra CU bank accounts just to get their credit card. Isn't there a law against this in Canada? When I worked in banking ages ago I remember that "Tied Selling" was illegal but "relationship pricing" was OK.
Alterna Savings Visa Infinite
2% cold hard cash on everything, no caps, VISA acceptance
48 day medical insurance, trip cxl, trip interrupt
Discuss here
[OP]
Member
Dec 12, 2016
201 posts
94 upvotes
minimalist wrote:
Jan 3rd, 2018 6:04 pm
AGREED. Don't think I want to start open extra CU bank accounts just to get their credit card. Isn't there a law against this in Canada? When I worked in banking ages ago I remember that "Tied Selling" was illegal but "relationship pricing" was OK.
It is for federally regulated institutions. Credit Unions for the most part are provincially regulated and are not subject to FCAC requirements. Similar to the first $100 access on deposits, provincial credit unions are not obligated to comply.
Member
Jul 1, 2006
328 posts
143 upvotes
minimalist wrote:
Jan 3rd, 2018 2:23 pm
Or perhaps this one is better to pair with Rogers MC/Fido MC?

https://www.meridiancu.ca/Personal/Cred ... -Card.aspx
This is a nice find. It's essentially a better version of the Scotiabank Momentum Visa Infinite since it appears to beat the Momentum by offering excellent travel insurance.

I've been disappointed with acceptance of my ScotiaGold AMEX, but was considering keeping it for the insurance. I think I'd just cancel the Gold and use this one. Pair it with the Rogers MasterCard for ~2% everywhere else. Hmmm.
Deal Addict
User avatar
Feb 1, 2006
1957 posts
429 upvotes
sckor wrote:
Jan 3rd, 2018 9:19 pm
This is a nice find. It's essentially a better version of the Scotiabank Momentum Visa Infinite since it appears to beat the Momentum by offering excellent travel insurance.

I've been disappointed with acceptance of my ScotiaGold AMEX, but was considering keeping it for the insurance. I think I'd just cancel the Gold and use this one. Pair it with the Rogers MasterCard for ~2% everywhere else. Hmmm.
That would be a nice combo. Let us know how your application goes and if you're forced to also open a bank account.
Alterna Savings Visa Infinite
2% cold hard cash on everything, no caps, VISA acceptance
48 day medical insurance, trip cxl, trip interrupt
Discuss here
Deal Addict
User avatar
Feb 1, 2006
1957 posts
429 upvotes
Let's say that Alterna Savings and all other CUs offering these similar Collabria cards force us to become "Members" by opening a bank account account to qualify for their credit card.

What do you think they'll do if you decide to close said bank account in the future? Force you to close your credit card with them too?
Alterna Savings Visa Infinite
2% cold hard cash on everything, no caps, VISA acceptance
48 day medical insurance, trip cxl, trip interrupt
Discuss here
Deal Addict
User avatar
May 11, 2014
2312 posts
1280 upvotes
Iqaluit, NT
minimalist wrote:
Jan 4th, 2018 3:26 pm
Let's say that Alterna Savings and all other CUs offering these similar Collabria cards force us to become "Members" by opening a bank account account to qualify for their credit card.

What do you think they'll do if you decide to close said bank account in the future? Force you to close your credit card with them too?
From my work with Credit Unions and CUETS, you actually do not require to be a member to get the card, but since there is no verification of the members identity, you would have to go in-branch to sign up for the product. To then not have to deal with it, some Credit Unions just say you have to be a member to apply.

Another option for Collabria is to apply through State Bank of India (regular Bank) for Collabria and/or First Nations Bank of Canada for CUETS. Then you can just avoid the whole credit union membership to begin with.

i don't see a problem with closing you account after the fact especially with CUETS. For Collabria, you might run into trouble if Alterna is the one servicing the card itself.
Support your local Credit Union!

Sask Pension Plan Upto $6000/yr in Credit Card spending on RRSP contributions
http://forums.redflagdeals.com/sask-pen ... ns-2167222

Top