Credit Cards

Brim Mastercard - No-Fee Foreign Exchange Card!

  • Last Updated:
  • Oct 18th, 2018 1:25 am
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[OP]
Deal Addict
User avatar
Apr 9, 2006
1879 posts
144 upvotes
YVR

Brim Mastercard - No-Fee Foreign Exchange Card!

So came across this new offering from a pretty much unknown new company. Brim Financial is offering a new Mastercard. Looks like a pretty interesting offering.

Comes in 3 different flavors, basic. world. and world elite.

The most interesting one is likely the basic card, which earn 1pt per dollar spent (haven't done the math but I presume this averages out to 1% return).
Most importantly it comes with 0% Foreign Exchange which I'm sure a lot of us are looking for now that Chase is exiting both the Amazon and Marriott card offerings.

Also of note, it includes a Boingo Global membership. How useful this is completely dependent on your personal situation but from my preliminary research it could come in handy in a pinch at some airports that charge for Wi-Fi. I have heard that boingo does get you free in-flight wi-fi on certain flights as well. Anyone that has more experience with Boingo please chime in.

Site:
https://brimfinancial.com/

Honestly look completely brand new. Even their APP is "Coming soon". Very interesting development, I am so glad to see new players trying to fill the large void.

EDIT : Users are now reporting that the company is in "pre launch" for this card and that they are accepting applications but will not start actually approving and sending cards to customers until March 2018.

EDIT: Mar/15/2018 - Some users are reporting that Brim has contacted them via phone to start processing their applications. Party is just about to start!

More details to come.
Last edited by TeriyakiJack on Feb 6th, 2018 2:42 am, edited 2 times in total.
Thread Summary
Don't apply for Brim, they take your info and don't send you any card, very shady!

RFD User Altera also thinks this company is a sham and people should stay far away until at least they get their act together... If they ever do.

--- 10May18 ---
A somewhat newer Terms and Conditions PDF with both Toronto and 1-800 numbers: Brim Rewards Terms and Conditions: "The Primary Cardmember may call Brim at 1-866-305-2746 (BRIM) Canada and USA or 647-251-2746 (BRIM) (collect) elsewhere..." Press 1 for Anglais, then 0 for a human, etc.
--- end 10May18 ---

Cardholder Terms and Conditions

As of March 24, for those who applied during early February, applications are being processed manually.

Launch Date: TBA.
866-305-2746

--June 25 2018--

Still nobody has cards after credit checks as long as three months ago, and applications submitted as long as five months ago. Brim has not communicated directly with any applicants about the status of their applications other than to request very intrusive identity verifications sometimes involving doctors and lawyers. Nobody knows when, or even if, cards will be coming.

-- June 27 2018 --

Globe&Mail story that Brim is officially launching in Canada: https://www.theglobeandmail.com/busines ... big-banks/

-- late June 2018 --

Magically the AF for the WE version jumped from $129 to $199. This card is waste and there are better options available.

-- July 5th 2018 --

BRIM announces it is sending out cards in batches based on approval dates, the first one being "tomorrow". BRIM is sending notices on Friday July 6th to all applicants approved on or before February 1st, 2018.

Even few people mentioned that they "got" their cards, nobody has yet share their using card experience .
4706 replies
Member
User avatar
Jan 16, 2007
498 posts
319 upvotes
Poking around they do seem legit - but the rewards for the World and World Elite have limits. Once $25k is spent the reward changes to 1%. What offsets this a bit is the recurring transactions bonus, you get double on those. That's counted separately it looks like. They are also only available in a subset of provinces (Alberta, Manitoba, British Columbia, Ontario, Quebec). If they were available here in New Brunswick I'd probably give them a try, I think they'd be the best card for me.
Jr. Member
Dec 15, 2014
118 posts
34 upvotes
Westmount, QC
Very interesting card. No annual fee no forex 1% reward + boingo. I might consider getting one.
Deal Addict
Dec 16, 2005
3658 posts
1466 upvotes
I prefer this one over fido/rogers

At least so far...

Points seem to be redeemed at 100 pts per $1 and sounds like not a yearly thing. Redeem at stores or for cash.

2pt per $ on PAP. And some 5x multiplier on loyalty (not sure how this works)

Benefits seem better as well, Boingo, mobile insurance, purchase protection, extended warranty

0% forex vs 2.5% with rebate is better imo even though you might earn 0.5% more in rewards.

Edit: after reading some more

- points redemption is 100pts minimum ($1) using the website. This sound fantastic.
- world elite card is $25,000 limit for 2pts per $ and 4pts per $ recurring payment
Deal Addict
Oct 4, 2009
2167 posts
903 upvotes
Montreal
The World Elite looks like an HSBC Premier competitor. Remains to be seen what the Lounge Key benefit includes and what they charge for foreign cash advances.

Feels weird seeing a card that isn’t available in all provinces yet somehow includes Quebec.Smiling Face With Open Mouth
Member
User avatar
Jan 16, 2007
498 posts
319 upvotes
S5 wrote:
Feb 6th, 2018 8:46 am
The World Elite looks like an HSBC Premier competitor. Remains to be seen what the Lounge Key benefit includes and what they charge for foreign cash advances.

Feels weird seeing a card that isn’t available in all provinces yet somehow includes Quebec.Smiling Face With Open Mouth
Yes.. it's... frustrating. :P
Member
Jan 14, 2017
210 posts
93 upvotes
S5 wrote:
Feb 6th, 2018 8:46 am
The World Elite looks like an HSBC Premier competitor. Remains to be seen what the Lounge Key benefit includes and what they charge for foreign cash advances.

Feels weird seeing a card that isn’t available in all provinces yet somehow includes Quebec.Smiling Face With Open Mouth
Agreed, the Lounge Key is a deal breaker. No bad card at all.
Member
User avatar
Jan 16, 2007
498 posts
319 upvotes
S5 wrote:
Feb 6th, 2018 8:46 am
The World Elite looks like an HSBC Premier competitor. Remains to be seen what the Lounge Key benefit includes and what they charge for foreign cash advances.

Feels weird seeing a card that isn’t available in all provinces yet somehow includes Quebec.Smiling Face With Open Mouth
The cash advance fee is $3.50 in Canada, and $5 out of Canada. The disclosure statement is in the Legal section.
Sr. Member
Aug 15, 2013
696 posts
350 upvotes
Guelph
Never heard of this company. They dont even have an About section on their site. Anyone has any experience of dealing with them before?
Part time Insurance/Investments sales rep
Sr. Member
Feb 1, 2018
524 posts
514 upvotes
Montréal
Sounds good in theory, but I'd like to see a bit more practical history from them before I start entrusting them with anything financial.
Deal Addict
User avatar
Sep 7, 2004
3767 posts
666 upvotes
GTEH!
Interesting. Never heard of Brim Financial. Have to get more info.
😎
Deal Addict
Dec 16, 2005
3658 posts
1466 upvotes
$5 flat for cash advance is pretty good.

Kreditshare incorporated in 2015 and then they did a name change to Brim in Sept 2017.
I couldn't find any evidence of an actual business prior to Brim launching. I think Kreditshare was their initial idea and it too about 2 years to get off the ground.
Sr. Member
Jan 10, 2017
940 posts
392 upvotes
GTA
http://whois.domaintools.com/brimfinancial.com
https://www.facebook.com/pg/brimfinancial/reviews/
https://twitter.com/brimfinancial?lang=en
https://twitter.com/search?q=brimfinanc ... en&lang=en

OSINT.
Things I took notice, not an active marketer for newcomers in a company that opened in 2015, with social activities starting in November 2017.
Already the CEO pushed for a charity with their low reputation.
They have no marketing team/person, and don't have any reviews or mentions on reddit with someone happy with them. There was two twitter accounts that tweeted the same tweet of refer friend code 123456 (Link).

Other instances of user mentions are questions toward the service are left unanswered except for Connor, which may be the only valid applicant to the service.

Ignore above user: he has not applied and is facing identity theft from previous history not related to Brim.
Brim Financial has no other namespace among Canadian credit card listings such as ratesupermarket, etc or with any other sites ie. Reddit.
Information Security Analyst
---
Fido $15/3GB + voip.ms $1/M + 3cx PBX voip push client $0 + Google Server vps $0 = $16/Month voip solution with no battery drain.
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