Credit Cards

[Meridian Visa] 4% cash back on G&G, 2% on Rx&PAP VISA card (First $25,000 in purchase)*No limited time

  • Last Updated:
  • Jul 13th, 2018 5:57 pm
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Thread Summary
Membership in Meridian Credit Union is required to be approved for any of these cards. No-fee savings accounts can be opened online, which include a membership.

WARNING!

DO NOT apply for any of these cards if you do not live in Ontario. You will have your Equifax file hard pulled and will then be automatically rejected.


Merchant categories for higher earnings levels on Meridian Cash Back Visa Infinite:

The first $25,000 spent in these Visa merchant categories earns 4%, and 1% after $25k:

5541 Service Stations ( with or without ancillary services)
5542 Automated Fuel Dispensers
5411 Grocery Stores and Supermarkets

The first $25,000 spent in these categories earns 2%, and 1% after $25k:

4814 Telecommunication Services, including Local and Long Distance Calls, Credit Card Calls, Calls Through Use of Magnetic- Stripe-Reading Telephones, and Fax Services
4815 VisaPhone
4821 Telegraph services
4899 Cable, Satellite and Other Pay Television/Radio/Streaming Services
4900 Utilities – Electric, Gas, Water, and Sanitary
5912 Drug Stores and Pharmacies
190 replies
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Nov 10, 2005
1978 posts
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Ottawa
The 4% is interesting, but the annual fee... I will have to take a look once more details become available.
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Feb 25, 2014
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120 annual fee maybe
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Aug 19, 2014
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Toronto, ON
MehtabS wrote:
Dec 21st, 2016 6:36 am
120 annual fee maybe
The annual fee will be between 0 and $99 depending on the card.
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May 11, 2014
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Iqaluit, NT
Considering how CUETs has been cut down and essentially being left languishing by TD, not surprised. Until pretty much Collabria, there was no other credit card company that did affiliated selling, other than MBNA but MBNA is also part of TD and you pretty much have the same problem.

CUET's main card is the CUETS World Elite card card. The points are worth 1 cent each. It gives you 2%. Not bad, but it has a $150 annual fee. The insurance was a great part of the card such as concierge and travel, but since TD took it over, they replaced the insurance provider to themselves, cut back coverage and benefits. Now this card is an expensive considering the rewards. There are exceptions where if you get the card at Integris Credit Union (BC), the card is annual fee free if you spend >$15K a year, but for the majority of credit union members who don't get this deal, it isn't worth it.

While Desjardins/Collabria aren't known for amazing credit cards, competition in this area should increase as banks try to get more business, especially with the likely stagnating housing market, we may start to see some actual competition. It would be interesting to see the likes of Meridian, Vancity or large credit union more proactively enter the space. I was always curious as to why Vancity never forged further ahead with their credit card business under Citizens Bank brand.
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Aug 19, 2014
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Toronto, ON
I'm told that the Meridian cards will be very competitive in the market. They'll have three cash back card options, with the top card being similar to the Scotiabank Momentum Infinite Visa. There's also going to be a Travel Card that will be similar to some of the market leading cards.
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May 11, 2014
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Insider8 wrote:
Dec 23rd, 2016 11:46 pm
I'm told that the Meridian cards will be very competitive in the market. They'll have three cash back card options, with the top card being similar to the Scotiabank Momentum Infinite Visa. There's also going to be a Travel Card that will be similar to some of the market leading cards.
Possible, although the base Collabria cards are not really that competitive
https://www.collabriacreditcards.ca/aff ... nal-cards/

Meridian may have developed their cards using Collabria's Self-Issue program in which they control all aspects of the cards and maintain the assets of the cards
https://www.collabriafinancial.ca/uniqu ... dels-cards

This is the main difference with Collabria as a partner; they allow the credit union to have full or limited control of the cards. This is much better than CUETS one size fits all program where the cards are universal across the spectrum, except credit unions may choose to reward customers with more Choice Rewards points. DUCA, and Kawartha Credit Union have moved to Collabria as well. State Bank of India too! I wouldn't be surprised to see if some of the larger credit unions in Canada with national ambitions may switch models. Coast Capital already partners with Desjardins, but curious if they may switch to develop their own. With low interest rates in traditional lending, credit card assets will probably be a targeted assets by these larger credit unions seeking more profits. From what I can tell with CUETs, TD owns all the credit card debt meaning the partner credit unions only receive royalties from CUETs on purchases and interest paid.
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Newbie
Aug 19, 2014
14 posts
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Toronto, ON
xgbsSS wrote:
Dec 24th, 2016 12:03 am
Possible, although the base Collabria cards are not really that competitive
https://www.collabriacreditcards.ca/aff ... nal-cards/

Meridian may have developed their cards using Collabria's Self-Issue program in which they control all aspects of the cards and maintain the assets of the cards
https://www.collabriafinancial.ca/uniqu ... dels-cards

This is the main difference with Collabria as a partner; they allow the credit union to have full or limited control of the cards. This is much better than CUETS one size fits all program where the cards are universal across the spectrum, except credit unions may choose to reward customers with more Choice Rewards points. DUCA, and Kawartha Credit Union have moved to Collabria as well. State Bank of India too! I wouldn't be surprised to see if some of the larger credit unions in Canada with national ambitions may switch models. Coast Capital already partners with Desjardins, but curious if they may switch to develop their own. With low interest rates in traditional lending, credit card assets will probably be a targeted assets by these larger credit unions seeking more profits. From what I can tell with CUETs, TD owns all the credit card debt meaning the partner credit unions only receive royalties from CUETs on purchases and interest paid.
I've seen the card features. The Meridian cards are going to be solid.
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Jan 31, 2006
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matradley wrote:
Dec 20th, 2016 6:07 pm
The 4% is interesting, but the annual fee... I will have to take a look once more details become available.
Its not 4% but 'Earn up to 4% cash back and redeem at anytime'
Sr. Member
Aug 14, 2013
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Montreal, QC
Where can we find this cc?
Newbie
Aug 19, 2014
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Toronto, ON
cgtlky wrote:
Dec 28th, 2016 6:12 am
Its not 4% but 'Earn up to 4% cash back and redeem at anytime'
Visa Infinite Cash Back
- 4% on Gas/Grocery, 2% on Pharmacy/Utility Bills, 1% on Other
- $99 Fee
- Infinite Benefits, All regular insurance included. Mobile Device Insurance.
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Aug 29, 2012
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Any card with decent travel insurance and rewards for those who don't quality for Infinite?
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Insider8 wrote:
Dec 29th, 2016 11:21 pm
Visa Infinite Cash Back
- 4% on Gas/Grocery, 2% on Pharmacy/Utility Bills, 1% on Other
- $99 Fee
- Infinite Benefits, All regular insurance included. Mobile Device Insurance.
Where did you see those? In Meridian website all I can see is https://www.meridiancu.ca/Personal/Credit-Cards.aspx

The $99 annual fee kill the deal, unless you spend a lot in gas/grocery and pharmacy/utilities bills its not worth getting this card at all.
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Insider8 wrote:
Dec 26th, 2016 10:59 pm
I've seen the card features. The Meridian cards are going to be solid.
Will there be a no-fee card with 2% groceries cashback and redemptions at any time with no minimum amount to redeem? If so it will replace my MBNA card for sure.
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