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

Just like DUCA did last year (which you announced as well ), they are starting a relationship with Collabria.
"The Meridian Visa Credit Card is issued by Collabria Financial Services Inc. pursuant to a license from Visa." (Source: https://www.meridiancu.ca/Personal/Credit-Cards.aspx , under "Legal")

The 4% is interesting, but the annual fee... I will have to take a look once more details become available.

120 annual fee maybe

MehtabS wrote: ↑ 120 annual fee maybe

The annual fee will be between 0 and $99 depending on the card.

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.

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.

Insider8 wrote: ↑ 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.

xgbsSS wrote: ↑ 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.

matradley wrote: ↑ 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'

Where can we find this cc?

cgtlky wrote: ↑ 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.

Any card with decent travel insurance and rewards for those who don't quality for Infinite?

Insider8 wrote: ↑ 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.

Insider8 wrote: ↑ 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.

scoper wrote: ↑ 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.

They'l have a card like that that with 2% on groceries/gas/pharma/utility bills and 1% on other purchases. It will have a $49 Annual Fee. I haven't heard of a minimum amount of redeem.

TD and CIBC keep offering FYF and bonus points. If this card doesn't offer FYF, it won't be competitive.

Their cards are available with FYF

Cards are available. But it's still not clear how and when their cash back can be redeemed. The link to meridianvisa.ca/cbrewards they have in T&C doesn't work.