Best Meridian credit cards
Money.ca / Meridian
Updated: December 27, 2023
Offerings noted in article current as of original publication. Please visit Meridian for updated details and terms.
Meridian is an Ontario-based credit card union that offers a variety of credit cards to citizens across Canada (excluding Quebec). From cash back and travel rewards cards to even a U.S. dollar card, Meridian has a variety of credit card options to suit your needs. Although you may not have heard of Meridian before, their credit cards are comparable to some of the best credit cards in Canada.
What are the best Meridian credit cards?
Meridian Cash Back Credit Cards
Meridian offers three different types of cashback credit cards: the Meridian Visa Cash Back Card, the Meridian Visa Platinum Cash Back Card, and the Meridian Visa Infinite* Cash Back Card. The higher tier cards come with better benefits, but they may also come with an annual fee, which turns some people off. Here’s a rundown of all the cards to help you choose the best option for your needs.
Meridian Visa Cash Back Card
Quick Facts
Credit score required: Fair/Good
Minimum personal income required: $0
Annual fees: $0
With the Meridian Visa Cash Back Card, consumers will get 1% cash back on gas, grocery, pharmacy, and utility payments and 0.5% on all other purchases. This card is ideal for those looking to earn cash back without having to pay an annual fee for the card.
The Meridian Visa Cash Back Card also has insurance benefits which include global customer service, price protection, zero liability, up to $1,000 CAD for mobile devices, $100,000 for common carrier accident protection, and purchase protection and extended warranty (90 days for theft, damage, or loss + double the manufacturer’s warranty up to a maximum of 1 additional year).
Some may consider the cash back offered with this card to be low, but you need to look at the whole package you’re getting. The mobile device insurance is quite valuable when you consider that this is a no-fee card.
Apply for the Meridian Visa Cash Back Card
Meridian Visa Platinum Cash Back Card
Quick Facts
Credit score required: Fair/Good
Minimum personal income required: N/A
Annual fees: $49
When it comes to the Meridian Visa Platinum Cash Back Card, cardholders get 2% cash back for the first $25,000 in purchases on gas, grocery, and utility bill payments, then 1% back for all other eligible purchases. You’re getting a higher rate of return with this card compared to the no fee card, but there is an annual fee of $49 .
The Meridian Visa Platinum Cash Back Card also comes with a number of insurance benefits including global customer service, zero liability, price protection, mobile device insurance up to $1,000, purchase protection, and extended warranty. Additionally, the card offers some decent travel insurance benefits (no travel medical) which will be discussed toward the end of this article.
The capped cash back and annual fee will annoy some people, but you would still come out ahead compared to the no fee version once you’ve charged $4,901 to the card so there is a lot of value here.
Apply for the Meridian Visa Platinum Cash Back card
Meridian Visa Infinite Cash Back Card
Quick Facts
Credit score required: Good/Excellent
Minimum personal income required: $60,000
Annual fees: $99
The Meridian Visa Infinite* Cash Back Card offers the most benefits of all of Meridian’s cash back cards, since consumers will get 4% back on gas and groceries and 1% back on pharmacy and utility bills for the first $25,000 in purchases. After this threshold is met, cash back on all purchases drops to 1%.
As with other Meridian cash back cards, the Meridian Visa Infinite* Cash Back Card offers an impressive suite of travel-related insurance benefits. The full details of what’s included with your travel insurance is listed further down the article.
Many consider other potential options to compete to be the best cash back credit card on the market, but they should compare it to the Meridian Visa Infinite* Cash Back Card. Both cards give similar earn rates, but the Meridian card has better insurance, and deserves more attention accordingly.
Apply for the Meridian Visa Infinite* Cash Back card
Meridian Travel Credit Cards
If you prefer to earn travel rewards over cash back, Meridian has you covered with its Platinum Travel Rewards Card and Infinite Travel Rewards Card. Here’s a breakdown of each travel card and its benefits.
Meridian Visa Platinum Travel Rewards Card
Quick Facts
Credit score required: Fair/Good
Minimum personal income required: N/A
Annual fees: $49
With the Meridian Visa* Platinum Travel Rewards Card, consumers will earn 1 point for every $1 spent, but they’ll get 2 points for every $1 spent on purchases made in foreign currency.
Despite the fact that you earn extra points for purchases made in a foreign currency, you still pay the foreign transaction fee of 2.5% which technically puts you down % when you consider the fact that 1 point is worth $.01. That being said, you’re still paying significantly less for purchases made in a foreign currency when compared to credit cards that charge the full 2.5% fee.
Insurance benefits that come with the Meridian Visa* Platinum Travel Rewards Card include: global customer service, zero liability, price protection, mobile device insurance, purchase protection, extended warranty and some travel. For full details of the included travel insurance, continue reading below.
Apply for the Meridian Visa* Platinum Travel Rewards card
Meridian Visa Infinite Travel Rewards Card
Quick Facts
Credit score required: Good/Excellent
Minimum personal income required: $60,000
Annual fees: $99
With 1.5 points earned for every $1 spent and 3 points earned for every 1$ spent in a foreign currency, the Meridian Visa Infinite* Travel Rewards card is Meridian’s best travel credit card. Although there is no signup bonus, the amount of points you earn from your everyday purchases is similar to many other travel rewards credit cards.
Since the Meridian Visa Infinite* Travel Rewards Card gives you 3 points per $1 spent on purchases made in a foreign currency and each point is worth $.01, this card really should enter into the conversation of the best credit cards with no foreign transaction fees.
Besides the comprehensive travel insurance that’s included, cardholders also get insurance benefits such as global customer service, zero liability, price protection, mobile device insurance, purchase protection and extended warranty. That’s a lot of value for a card that waives the annual fee for the first year.
Apply for the Meridian Visa Infinite* Travel Rewards card
Meridian U.S. Dollar Card
Frequent travellers to the United States may also be interested in the Meridian Visa US Dollar Card. It’s an ideal credit card choice for consumers who make a number of purchases in U.S. dollars. Here’s what you need to know about the Meridian Visa US Dollar Card.
Meridian Visa US Dollar Card
Quick Facts
Credit score required: Good/Excellent
Minimum personal income required: N/A
Annual fees: $65
The Meridian Visa US Dollar Card allows cardholders to earn 1 point for every $1US of net purchase. Each point is valued at $0.01.
Since this is a U.S. dollar card, you don’t incur any foreign transaction fees when you make a purchase in U.S. dollars which saves you 2.5% in fees every time. That fee does apply if you make purchases in a currency besides USD. Keep in mind that you need to pay your bill in U.S. dollars for you to completely avoid any exchange fees.
Although you don’t get any travel insurance with this card, you do get other benefits such as global customer service, zero liability, price protection, mobile device insurance up to $1,000, common carrier accident protection, purchase protection (90 days) and extended warranty which doubles the manufacturer’s warranty up to an additional year.
Apply for the Meridian Visa US Dollar Card
How Meridian Travel Rewards work?
The idea of being able to use points toward travel is an attractive prospect, but just how does it work? Nancy Donohue, Senior Manager of Payments at Meridian helps break it down for us:
“Meridian Members can redeem their travel points on our rewards site or by phone. In addition to travel, redemption options include various categories: Merchandise, Event Tickets, Activities and Gift Cards. When visiting the site, Members can browse the categories, refine their searches within the categories and view options within and beyond their points value. Our online banking allows for single sign-on to this site which is also mobile-enabled.”
Meridian’s travel redemption rate for both travel cards is 100 points=$1 when redeemed for travel. Redemptions for travel are shown only as points on the Meridian travel portal, but the points required for a redemption are equivalent to the current price of the travel you’re trying to book.
It’s important to note that points cannot be used to pay for airline taxes or surcharges. Furthermore, Meridian does not use a full-service travel agency, however, members that need assistance can contact a customer service representative.
Finally, consumers should also know that using your points toward merchandise or gift cards does not offer as much value compared to using your points for travel.
Meridian Travel insurance coverage
As indicated earlier in this article, both the Meridian Visa* Platinum Travel Rewards Card and Meridian Visa Infinite* Travel Rewards Card have additional travel benefits. These benefits depend on the tier (Platinum or Infinite) and are applicable to both the cash back and travel rewards cards. The information below will help break down the differences between the two options to help you better decide which is a better fit for your travel insurance needs.
Meridian Visa Platinum travel insurance
Though the travel insurance under the Meridian Visa Platinum cards does not include emergency travel medical insurance, cardholders still get quite a bit of insurance which includes the following: auto rental collision/loss damage insurance (up to 48 days); lost or delayed baggage which covers up to $1,000 for theft or damage and up to $500 for late delivery; common carrier accident protection of $500,000; and 24/7 travel assistance.
Meridian Visa Infinite* travel insurance
Meridian Visa Infinite* cardholders receive the same coverage as Platinum cardholders, but you also get emergency health care coverage up to $5,000,000 (48 days: 59 and under; 23 days: between the ages of 60-64;15 days: between the ages of 65-75); intergenerational coverage, and increased common carrier accident protection of $1,000,000.
Whether you are looking for a basic cash back credit card, a travel rewards credit card, or a U.S. dollar credit card, Meridian has some great options to suit your needs and lifestyle.
Recommended read: Best credit cards with mobile device insurance
Hannah Logan is a Canadian freelancer writer and blogger who specializes in personal finance and travel. You can follow her adventures on her travel blog EatSleepBreatheTravel.com or find her on Instagram @hannahlogan21.
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