Desjardins Cashback World Elite MC Thread

This card was mentioned in this thread: Desjardins Card Updates

uofaboy wrote: ↑ This card was mentioned in this thread: Desjardins Card Updates

Good find.

I still find the cashback WE MC is the best product on that list and worthy of its own thread...but will let RFD decide on that.

I am very interested in that card. I have NHL season tickets and the 3% cashback from those is worth getting this card. Problem is they changed a bunch of their cards Oct 18, and some have 2% on entertainment, so I switched to one of them. Now 3 weeks later, this way better card.

Card is great if you live downtown, sounds like this card is mainly developed with that demographic in mind considering no gas multiplier, only for public transit.

The 3 days of travel emergency is just sad, why bother adding it in at this point?

3 days travel insurance ruins this card completely. Otherwise I don't even think it is special. It is more advantageous to buy discounted gift cards for Walmart shopping anyway. Note too that many Walmarts do not give bonus rewards for MasterCards with a grocery multiplier anymore, although it depends on the store you have locally.

Odyssée World Élite is still better.

Decent card for the low-ish $100 annual fee. But I still prefer my Meridian Visa, same 4% on grocery, plus 4% on gas, and superior insurance package. For a buck less.

deltatux wrote: ↑Card is great if you live downtown, sounds like this card is mainly developed with that demographic in mind considering no gas multiplier, only for public transit.

The 3 days of travel emergency is just sad, why bother adding it in at this point?

Poutinesauce wrote: ↑ 3 days travel insurance ruins this card completely. Otherwise I don't even think it is special. It is more advantageous to buy discounted gift cards for Walmart shopping anyway. Note too that many Walmarts do not give bonus rewards for MasterCards with a grocery multiplier anymore, although it depends on the store you have locally.

Odyssée World Élite is still better.

To be fair, this isn’t a travel card.
On top of that, all their cards come with this standard 3 day travel insurance.
Heck the Leon’s Visa card I had from them years ago had it as well.

coolintheshade wrote: ↑ To be fair, this isn’t a travel card.
On top of that, all their cards come with this standard 3 day travel insurance.
Heck the Leon’s Visa card I had from them years ago had it as well.

Travel medical insurance is often the reason why people accept to pay an annual fee.

Kiraly wrote: ↑ Decent card for the low-ish $100 annual fee. But I still prefer my Meridian Visa, same 4% on grocery, plus 4% on gas, and superior insurance package. For a buck less.

DJD WE MC has 4% grocery uncapped... This is great to buy GCs for Netflix, LCBO, Amazon, etc...

Poutinesauce wrote: ↑ Travel medical insurance is often the reason why people accept to pay an annual fee.

Fair point

titaniumtux wrote: ↑ Good find.

I still find the cashback WE MC is the best product on that list and worthy of its own thread...but will let RFD decide on that.

Yes! I said as much in that thread - that this one is the most interesting one.

My one real gripe (aside from me ever paying any annual fee) is the $100 redemption increments. If it was a $100 minimum instead of $100 increment, that would be a lot more reasonable. I remember when the MBNA Smart Cash changed from $50 redemption increments to $50 minimum which was far better.

Brim and Tangerine have it right - release all our accumulated cashback to us without increments or minimums, and not hold it hostage until the next increment is reached or hold it for a whole year.

PhobMX wrote: ↑ DJD WE MC has 4% grocery uncapped... This is great to buy GCs for Netflix, LCBO, Amazon, etc...

Not when Amex Cobalt and Scotia Amex Gold have 5% for grocery and restaurant.

coolintheshade wrote: ↑


To be fair, this isn’t a travel card.
On top of that, all their cards come with this standard 3 day travel insurance.
Heck the Leon’s Visa card I had from them years ago had it as well.

Also no travel medical on CTFS WE. A worthy replacement for those who can't get the CTFS WE.

OxbridgeIvy wrote: ↑
Yes! I said as much in that thread - that this one is the most interesting one.

My one real gripe (aside from me ever paying any annual fee) is the $100 redemption increments. If it was a $100 minimum instead of $100 increment, that would be a lot more reasonable. I remember when the MBNA Smart Cash changed from $50 redemption increments to $50 minimum which was far better.

Brim and Tangerine have it right - release all our accumulated cashback to us without increments or minimums, and not hold it hostage until the next increment is reached or hold it for a whole year.

I mostly agree. Since this is a high earner, I think the $100 redemptions is ok (most ppl with average use could redeem at least a few times a year). Only annoying if/when you want to cancel.

Poutinesauce wrote: ↑
Not when Amex Cobalt and Scotia Amex Gold have 5% for grocery and restaurant.

Those are capped on the 5x. @PhobMX will hammer cards in 4-5x/% for funsies. Uncapped means there'll be no need to get multiple BNS Momentum Inf's if you hit the cap on Cobalt, BNS AmEx Gold and one 4% card.

One of the most interesting factors about this card is that it is a Mastercard. Between the cards that are comparable - Scotia Momentum VI, CIBC Dividend VI, TD CB VI, Meridian CB VI, and to some extent Amex Cobalt, Scotia Amex Gold - the Desjardins WE is the only Mastercard out of the group, making this the only card that earns 4% at Walmart Supercenter, and 4% at No Frills (a handful of No Frills locations reportedly take other cards than MC, but those are exceptions). It is also the only card out of this group that can be used at Costco, for those who wish to carry fewer cards.

OxbridgeIvy wrote: ↑ One of the most interesting factors about this card is that it is a Mastercard. Between the cards that are comparable - Scotia Momentum VI, CIBC Dividend VI, TD CB VI, Meridian CB VI, and to some extent Amex Cobalt, Scotia Amex Gold - the Desjardins WE is the only Mastercard out of the group, making this the only card that earns 4% at Walmart Supercenter, and 4% at No Frills (a handful of No Frills locations reportedly take other cards than MC, but those are exceptions). It is also the only card out of this group that can be used at Costco, for those who wish to carry fewer cards.

1%/Costco but definitely part of a minimalist setup for many.

coolintheshade wrote: ↑ To be fair, this isn’t a travel card.
On top of that, all their cards come with this standard 3 day travel insurance.
Heck the Leon’s Visa card I had from them years ago had it as well.

Yes, but if you're trying to compete with say the Scotiabank Momentum Visa Infinite or hell, even the Rogers World Elite MasterCard & PC Financial World Elite MasterCard, all offer much better travel insurance and hell, both the Rogers & PC Financial cards are free. There's no excuse to provide only 3 days of coverage, might as well not even bother offering it. I have a feeling they just offered it just to satisfy the World Elite program requirements. With the CTFS WE MC, they were likely able to replace the travel medical coverage with free roadside to meet requirements.

So I don't buy the "it's not a travel card" argument as other cashback cards offer usable travel insurance coverage. They just might not offer trip cancellation/interruption but at least would have much better coverage than this Desjardins card. These insurance coverage is also a big reason why many people pay an annual fee for a credit card as well.

@deltatux I think in this case ppl would bite the AF for the higher earn rates.

Now vs. BMO Cashback at 3%/grocery [MC] no-AF which caps at $600/month afaik...

• If within the $600/month, BMO is still the winner. The difference on grocery accelerator only at $600/month down to the nickel would be $72, which does not break-even with the AF. Sprinkle spend in the other categories, and one breaks even with the AF already at around this volume
• Once one hits $677/month in grocery, the Desjardins Cashback WE breaks-even on AF versus the BMO Cashback (the difference in cashback offsets the AF). Anyone spending >$677/month in grocery has no reason to use BMO
• Opportunity cost is even more favourable versus Tang MC (4% vs. 2%)
• Those who already have a 5x earner (Cobalt or BNS Gold) combined with CTFS WE (or BMO cashback...or even Tang) will probably find it hard to justify the $100 AF outside of MS...
• I don't expect the 4% grocery or 3% resto to include food delivery, making it lose quickly to Cobalt for those

I think those who want to lead with a high earning cashback card and churn travel cards will do well with this one. Sad to see no roadside assistance, would make this card even a TD CBI killer. I guess can't have it all. I would definitely swap the 3 days travel medical for roadside assistance (even the mickey mouse one included with HomeTrust Preferred) or better yet no-FTF...but it's not up to me to decide.

titaniumtux wrote: ↑ @deltatux I think in this case ppl would bite the AF for the higher earn rates.

Now vs. BMO Cashback at 3%/grocery [MC] no-AF which caps at $600/month afaik...

• If within the $600/month, BMO is still the winner. The difference on grocery accelerator only at $600/month down to the nickel would be $72, which does not break-even with the AF. Sprinkle spend in the other categories, and one breaks even with the AF already at around this volume
• Once one hits $677/month in grocery, the Desjardins Cashback WE breaks-even on AF versus the BMO Cashback (the difference in cashback offsets the AF). Anyone spending >$677/month in grocery has no reason to use BMO
• Opportunity cost is even more favourable versus Tang MC (4% vs. 2%)
• Those who already have a 5x earner (Cobalt or BNS Gold) combined with CTFS WE (or BMO cashback...or even Tang) will probably find it hard to justify the $100 AF outside of MS...
• I don't expect the 4% grocery or 3% resto to include food delivery, making it lose quickly to Cobalt for those

I think those who want to lead with a high earning cashback card and churn travel cards will do well with this one. Sad to see no roadside assistance, would make this card even a TD CBI killer. I guess can't have it all. I would definitely swap the 3 days travel medical for roadside assistance (even the mickey mouse one included with HomeTrust Preferred) or better yet no-FTF...but it's not up to me to decide.

gawd, where have i been? never thought of cash back credit cards at grocery stores that sell GCs. ugh... thanks RFD.

BCNeil wrote: ↑ I am very interested in that card. I have NHL season tickets and the 3% cashback from those is worth getting this card. Problem is they changed a bunch of their cards Oct 18, and some have 2% on entertainment, so I switched to one of them. Now 3 weeks later, this way better card.

Did you end up getting the card?