Home
Brim Financial Mastercard Review

Brim Financial Mastercard review

3.0

Read review

1 point per $2 spent

19.99% - 24.99% Variable APR

19.99% Balance Transfer Rate

21.50% - 24.99% Cash Advance APR

$0 Annual Fee

1.50% Foreign Transaction Fee

Good Recommended Credit Score

3.0

Brim Financial Mastercard review

Quick overview of the Brim Financial Mastercard

The Brim Financial Mastercard is a rewards credit card with no annual fee, offering Canadians an array of benefits, such as free Boingo Wi-Fi, lower foreign exchange (FX) fees and flexible payment options.

If you're thinking about getting the Brim Financial Mastercard, check out our comprehensive review to see if it meets your needs.

Who’s the Brim Financial Mastercard for?

The Brim Financial Mastercard is ideal for Canadians looking for a rewards credit card with flexible payment options, lower FX fees and added insurance perks — all without an annual fee. 

If you travel often, this card can come in handy. You won’t rack up expenses compared to other no-fee cards because of the lower FX fee of only 1.5%. Plus, you can also always stay connected with free Boingo Wi-Fi, which gives you access to one million hotspots all around the world. Brim also has an app that lets you easily manage your credit card from anywhere. It allows you to add more cardholders or lock your card.

Pros and cons

Pros

Pros

  • No annual fee

  • Access Boingo wifi for free and stay always connected

  • Enjoy basic insurance coverage

  • Take advantage of flexible payment plans

  • Lower foreign exchange fee of only 1.5%

Cons

Cons

  • Low earn rates when compared to other no-fee cards

  • Poor customer service for card holders

How to earn rewards on the Brim Financial Mastercard

The rewards program is pretty straightforward for this card. You earn one reward point for every $2 dollar spent through your Brim Mastercard. Through Brim Open Rewards, you can see what Canadian retailers partner with Brim rewards and offer points promos, to help accelerate your earn rates. You can find all these promos on the Brim app.

How to redeem rewards with the Brim Financial Mastercard

You can easily redeem your Brim points during any transaction or as statement credit towards your balance, which can be done through the Brim Financial app.

Brim Financial Mastercard key benefits

  • Free Boingo Wi-Fi: Enjoy free access to Boingo Wi-Fi hotspots at more than one million locations globally
  • Flexible payments: Brim allows you to choose flexible payment options for purchases over $500. You can easily set up installments through the Brim app

Brim Financial Mastercard insurance coverage

Here are the insurance benefits you get with the Brim Mastercard:

  • Travel accident insurance: Receive up to $300,000 in coverage for accidental death, dismemberment or severe injury that occurs during a trip
  • Event ticket protection: Get up to $1,000 in coverage for event tickets. This ensures you’re covered if you need to cancel or are unable to attend an event for covered reasons
  • Extended warranty: Enjoy an additional year of warranty coverage beyond the manufacturer’s warranty on eligible purchases
  • Purchase protection: Coverage for up to 90 days from the purchase date, with protection up to $1,000 per incident
  • Mobile device protection: Get up to $500 in coverage for your mobile device, including protection against loss, theft, accidental damage or mechanical issues

What people have to say about this card

I think Brim is running on a skeleton crew, the app doesn't work; app notifications haven't worked in over a year, and signing in doesn't work at times… Fortunately, if you never need customer service, the Brim card is still very usable; though I am on the free tier.

Reddit user KnownAway

According to the Reddit user, KnownAway, Brim Financial’s customer service is lacklustre. Its mobile application can be glitchy and the customer service team is not very responsive. This can prove to be highly frustrating for most customers.

How the Brim Financial Mastercard compares

Scotia Momentum No-Fee Visa Card

Apply now

3.0

5% cash back

Welcome offer

Fair

Suggested credit score

Earn 5% cash back on all purchases for the first 3 months (up to $2,000 in total purchases); Plus, get a 0% introductory interest rate on balance transfers for the first 6 months (22.99% after that; annual fee $0)

Expires

Nov 1, 2024

Apply now

Pros

  • No annual fee: The card does not charge an annual fee, making it cost-effective for users.

  • Cash back rewards: Offers 1% cash back on eligible gas, groceries, drugstore purchases and recurring bill payments.

  • Welcome bonus: There is a welcome bonus of 5% cash back on up to $2,000 in eligible purchases within the first three months.

  • Promotional balance Transfer Rate: A promotional 0% annual interest rate on balance transfers for the first six months (with a 2% balance transfer fee).

  • Rental car discounts: Cardholders can save up to 25% off base rates at participating AVIS and Budget locations in Canada and the U.S.

Cons

  • Limited insurance: No included insurance coverage, though optional insurance bundles are available for a fee.

  • Low base rewards rate: After exceeding the $25,000 spending cap, the cash back rewards drop to a base rate of 0.5%.

  • Rigid redemption process: Cash back is accumulated monthly but can only be redeemed once annually in November.

  • Balance transfer fee: There is a 2% balance transfer fee when utilizing the promotional balance transfer rate.

  • Foreign transaction fee: The card charges a 2.5% foreign transaction fee on purchases made in a foreign currency.

  • Limited perks: Compared to other no-fee cards, the Scotia Momentum No-Fee Visa Card offers fewer perks and lower reward rates.

Eligibility

Recommended Credit Score

Fair

If you want to earn straight up cash back, the Scotia Momentum No-Fee Visa card will help you do exactly that. The generous welcome bonus that comes with this card helps you rack up on lucrative rewards, quickly. With this card, you earn 1% cash back on eligible everyday purchases, such as groceries and recurring payments and 0.5% cash back on everything else. However, when compared to the Brim Mastercard, the Scotia Momentum No-Fee Visa card has no insurance coverage and a higher FX fee, so if you’re looking for such travel perks, you won’t get them with this card.

Pros

  • No annual fee: The card does not charge an annual fee, making it cost-effective for users.

  • Cash back rewards: Offers 1% cash back on eligible gas, groceries, drugstore purchases and recurring bill payments.

  • Welcome bonus: There is a welcome bonus of 5% cash back on up to $2,000 in eligible purchases within the first three months.

  • Promotional balance Transfer Rate: A promotional 0% annual interest rate on balance transfers for the first six months (with a 2% balance transfer fee).

  • Rental car discounts: Cardholders can save up to 25% off base rates at participating AVIS and Budget locations in Canada and the U.S.

Cons

  • Limited insurance: No included insurance coverage, though optional insurance bundles are available for a fee.

  • Low base rewards rate: After exceeding the $25,000 spending cap, the cash back rewards drop to a base rate of 0.5%.

  • Rigid redemption process: Cash back is accumulated monthly but can only be redeemed once annually in November.

  • Balance transfer fee: There is a 2% balance transfer fee when utilizing the promotional balance transfer rate.

  • Foreign transaction fee: The card charges a 2.5% foreign transaction fee on purchases made in a foreign currency.

  • Limited perks: Compared to other no-fee cards, the Scotia Momentum No-Fee Visa Card offers fewer perks and lower reward rates.

Eligibility

Recommended Credit Score

Fair

Cash back at gas stations, grocery stores, drugs stores, and on recurring payments.

1%

Cash back on all other eligible purchases.

0.5%

Off base rates at Avid and Budget locations in North America.

25%

Purchase APR

19.99%

Balance Transfer Rate

22.99%

Cash Advance APR

22.99%

Annual Fee

$0

Foreign Transaction Fee

2.50%

Tangerine Money-Back Credit Card

Apply now

4.0

10% back

Welcome offer

Good

Suggested credit score

Get 10% cash back on up to $1,000 in everyday purchases made within 2 months. Pay only 1.95% balance transfer interest for the first 6 months.

Expires

Nov 1, 2024

Apply now

Pros

  • No annual fee

  • Choose the spending categories where you want to earn the most cash back

  • Unlimited cash back—no maximum spending limit for any purchase category

  • Cash back is paid out monthly rather than annually

  • Periodically includes a special welcome offer where you can get extra cash back

  • 1.95% interest on balance transfers for the first 6 months (1% transfer fee applies)*

Cons

  • Regular cash back rates are still lower than what you can get from a card with an annual fee

  • Limited extra perks or benefits beyond the cash back and balance transfer promotion

  • Generally not a good fit for shopping at warehouse clubs or wholesale grocers like Costco or Walmart

  • Tangerine does not have any physical bank branches

Eligibility

Recommended Credit Score

Good

Required Annual Personal Income

$12,000

When it comes to earning cash back rewards, the Tangerine Money-Back card is a clear winner. Earn 2% cash back on two everyday spending categories (unlock a third category by opening a savings account) and 0.5% cash back on all other purchases — all without an annual fee. Best of all, the Tangerine Money-Back card comes with a great welcome bonus. If you’re into earning cash back, this is the card for you.

Pros

  • No annual fee

  • Choose the spending categories where you want to earn the most cash back

  • Unlimited cash back—no maximum spending limit for any purchase category

  • Cash back is paid out monthly rather than annually

  • Periodically includes a special welcome offer where you can get extra cash back

  • 1.95% interest on balance transfers for the first 6 months (1% transfer fee applies)*

Cons

  • Regular cash back rates are still lower than what you can get from a card with an annual fee

  • Limited extra perks or benefits beyond the cash back and balance transfer promotion

  • Generally not a good fit for shopping at warehouse clubs or wholesale grocers like Costco or Walmart

  • Tangerine does not have any physical bank branches

Eligibility

Recommended Credit Score

Good

Required Annual Personal Income

$12,000

Earn 2% cash back on 2 categories of your choice (e.g. groceries, recurring bills, gas, drug stores, etc.)

2%

Get a Tangerine Savings account and add a 3rd 2% cash back category.

3

Earn 0.50% on all your other everyday purchases.

0.5%

Variable APR

19.95% - 24.95%

Balance Transfer Rate

1.95%

Cash Advance APR

19.95%

Annual Fee

$0

Foreign Transaction Fee

2.50%

Brim Financial Mastercard vs. Walmart Rewards Mastercard

Here’s how the Brim Financial Mastercard compares to the Walmart Rewards Mastercard.

Card Brim Financial Mastercard Walmart Rewards Mastercard
Annual fee $0 $0
Rewards Earn 1 Brim point for every $2 spent Earn 1.25% in Reward Dollars on all Walmart purchases
Insurance coverage Travel accident insurance, ticket protection, extended warranty, purchase protection, mobile device protection Purchase assurance
Benefits Free Boingo Wi-Fi, 1.5% foreign exchange fee, flexible payment plans Access 24/7 Mastercard Global Services, finance purchases over $199.99
Review You’re reading it Read our review

Both of these credit cards come with no annual fee and, which one you should go for depends on your overall lifestyle and needs. If you frequently shop at Walmart, the Walmart Rewards Mastercard is a fantastic way to save money on all your purchases, as every Walmart Rewards dollar is equal to $1 in cash value. If you travel often, the insurance and additional perks (such as Boingo Wi-Fi) on the Brim Financial Mastercard will better suit your travel needs. 

Brim Financial Mastercard eligibility criteria

To be eligible for the Brim Financial Mastercard, you must be a Canadian resident who is of legal age in your province or territory.

Is the Brim Financial Mastercard worth it?

If you’re not looking for the highest earn rate, the Brim Financial Mastercard can be a reasonable choice, as it comes with other notable benefits. Keep in mind that Brim Financial is known for having a not-so-stellar customer service team.

Don’t forget to check out the best no-annual fee credit cards in Canada before you make your decision. 

Lubna Umar Content Strategist

Lubna Umar has worked in the field of personal finance for over 5 years. She has produced a wide variety of content including personal finance guides and insurance reports for brands like RATESDOTCA and the Financial Post. In her free time, she can be found writing fiction or exploring the café culture in Toronto or any other major city.

Compare other popular Canadian credit cards

Disclaimer

The content provided on Money.ca is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter. Advertisers are not responsible for the content of this site, including any editorials or reviews that may appear on this site. For complete and current information on any advertiser product, please visit their website.