Quick overview of the Laurentian Bank Visa Infinite*
The Laurentian Bank Visa Infinite* is the premiere reward credit card offered by Laurentian Bank. Of the four other cards in its credit card lineup, this one boasts two additional reward categories and is the only one that offers comprehensive travel and medical insurance coverage.
With the flexibility to redeem points towards statement credit, purchases from partner merchants, or just cold hard cash, this well-rounded credit card has the potential to be your go-to piece of plastic -- that’s if you meet the $60,000 personal income requirement (or $100,000 for households) and are willing to pay $130 a year for the privilege.
Who’s the Laurentian Bank Visa Infinite* for?
The ideal Laurentian Bank Visa Infinite* cardholder is one with plans for major purchases within the first year of opening their card. Once the promotional period has passed, however, this credit card only really makes sense in the long term for someone who will spend at least $6,500 annually between travel, transportation, groceries, and gas. This amount, which breaks down to about $542 a month, is the breakeven point -- the minimum you’d have to spend to earn enough rewards to offset the card’s $130 annual fee.
Pros and Cons
Pros
-
Annual fee waiver: Laurentian Bank waives the annual fee for the first two year
-
Generous welcome bonus: Generous signup bonus worth up to $890
-
Rewards: Earn an unlimited 1x points in base rewards, with 2x on gas, travel and transit plus bills.
-
Redemption flexibility: Flexible point redemption options with no minimum redemption amount
Cons
-
Income: The card requires a pretty large income making it inaccessible to some
-
High APR: APR on purchases is higher than found with some other options
Laurentian Bank Visa Infinite* welcome bonus
The Laurentian Bank Visa Infinite* credit card boasts $890 in reward bonuses for new cardholders. An impressive value, but one that requires some pretty major spending in the first year of card ownership to earn.
In the first 6 months, you’ll earn 60,000 bonus points when you spend $6,000 in net purchases.
Here’s how you can earn more points:
Up to 10,000 bonus points worth $100 when you add 2 authorized users; and
5,000 bonus points worth $50 when you set up a pre-authorized payment within the first 6 months.
Here’s how you can earn extra points:
Up to 10,000 bonus points worth $100 when you set up 2 installment plans within the first 6 months;
2,000 bonus points worth $20 when you sign up for Assur-Payment™ within the first 6 months; and
2,000 bonus points worth $20 for each friend or family member you refer.
The primary signup bonus of 60,000 bonus points (worth $600) can be earned by spending $6,000 within the first six months of opening the card. This amount might seem intimidating, but it’s possible to achieve if you open the card strategically at a time when you already have plans to make big purchases like moving to a new home, planning a wedding, buying presents for the holidays, or booking a big vacation.
How to earn points with the Laurentian Bank Visa Infinite*
The Laurentian Bank Visa Infinite* earns an unlimited 2X points in four popular purchase categories (Gas, Groceries, Travel, and Transportation) and 1X points for everything else. Unlike the other two rewards credit cards offered by Laurentian Bank, only the Visa Infinite offers rewards for travel and transportation purchases.
The standout feature, however, is its ability to earn 2X points on recurring payments. Recurring payments can include nearly anything -- utilities, cable, internet, phone, home and auto insurance, magazine and newspaper subscriptions, streaming services -- as long as it’s coded under the appropriate category code by the merchant (it may also be referred to as a pre-authorized debit). This rewards category makes the Laurentian Bank Visa Infinite* one of the most versatile rewards credit cards out there.
How to redeem
You’ve got to love a credit card with options, and the Laurentian Bank Visa Infinite* certainly has them. Points can be redeemed for cash that’s applied toward your account balance or specific purchases, or toward merchandise or gift cards via the online portal. Our favorite aspect of the redemption methods for the Laurentian Bank Visa Infinite* is that cardholders can redeem as little as $1 in rewards.
Laurentian Bank Visa Infinite* Insurance coverage
Purchase protection 90 days for theft or accidental damage for 90 days on merchandise paid for with the card.
- Extended warranty: 1 year
- Purchase protection: 90 days
- Travel accident insurance: $500,000
- Trip interruption: Up to $5,000
- Trip cancellation: Up to $2,000
- Baggage delay: Up to $2,500
- Rental car coverage: Up to $65,000
The card also comes with medical care $5 million out-of-province coverage, for you and your family for a maximum of 15 days for clients aged 66 to 75 and 31 days for clients aged 65 and under
What people have to say about the Laurentian Bank Visa Infinite*
People like the generous signup bonuses but aren’t impressed enough to make it their primary card once the annual fee is no longer waived. The primary complaints surrounding this credit card aren’t about the card itself, but frustration at Laurentian Bank’s customer service. Some users have had issues with their application forms, others with getting straight answers about charges that shouldn’t be there.
How the Laurentian Bank Visa Infinite* compares
Focus on how this card stacks up against the competitors in 2 paragraphs knowing the reader already knows about the main card. Think about why someone would want one over the other
Laurentian Bank Visa Infinite* vs. CIBC Dividend® Visa Infinite* Card
CIBC Dividend® Visa Infinite* Card
4.2
10% back†
Welcome offerGood
Suggested credit scoreGet a first-year annual fee rebate for you and up to three Authorized Users† and earn 10% cash back for the first 4 statements on net purchases of up to $3,000†.
Pros
-
First-year annual fee rebate
-
10% cash back welcome bonus up to $3,000 spend
-
4% cash back on gas, electric vehicle charging and grocery stores
-
2% cash back on transportation, dining and recurring payments
-
High annual spending cap on benefits ($20,000 in bonus categories or $80,000 total)
Cons
-
High income requirement
-
Sparse travel insurance offering
Eligibility
Good
Recommended Credit Score
$60,000†
Required Annual Personal Income
$100,000†
Required Annual Household Income
Recommended Credit Score
Good
Required Annual Personal Income
$60,000†
Required Annual Household Income
$100,000†
4%
cash back on eligible gas, EV charging, and grocery purchases.†
2%
cash back on eligible transportation, dining purchases and recurring payments†
1%
cash back on all other purchases†
10 cents
save up to 10 cents per litre† at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.†
cash back on eligible gas, EV charging, and grocery purchases.†
4%
cash back on eligible transportation, dining purchases and recurring payments†
2%
cash back on all other purchases†
1%
save up to 10 cents per litre† at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.†
10 cents
20.99%†
Purchase APR non-Quebec residents†
22.99%†
Balance Transfer Rate non-Quebec residents†
22.99%†
Cash Advance APR non-Quebec residents†
$120
Annual Fee First year rebated†. Each additional card is $30 per year, max 3 — first year rebated†
2.5%
Foreign Transaction Fee
Purchase APR
20.99%†
Balance Transfer Rate
22.99%†
Cash Advance APR
22.99%†
Annual Fee
$120
Foreign Transaction Fee
2.5%
Pros
-
First-year annual fee rebate
-
10% cash back welcome bonus up to $3,000 spend
-
4% cash back on gas, electric vehicle charging and grocery stores
-
2% cash back on transportation, dining and recurring payments
-
High annual spending cap on benefits ($20,000 in bonus categories or $80,000 total)
Cons
-
High income requirement
-
Sparse travel insurance offering
Eligibility
Good
Recommended Credit Score
$60,000†
Required Annual Personal Income
$100,000†
Required Annual Household Income
Recommended Credit Score
Good
Required Annual Personal Income
$60,000†
Required Annual Household Income
$100,000†
4%
cash back on eligible gas, EV charging, and grocery purchases.†
2%
cash back on eligible transportation, dining purchases and recurring payments†
1%
cash back on all other purchases†
10 cents
save up to 10 cents per litre† at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.†
cash back on eligible gas, EV charging, and grocery purchases.†
4%
cash back on eligible transportation, dining purchases and recurring payments†
2%
cash back on all other purchases†
1%
save up to 10 cents per litre† at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.†
10 cents
20.99%†
Purchase APR non-Quebec residents†
22.99%†
Balance Transfer Rate non-Quebec residents†
22.99%†
Cash Advance APR non-Quebec residents†
$120
Annual Fee First year rebated†. Each additional card is $30 per year, max 3 — first year rebated†
2.5%
Foreign Transaction Fee
Purchase APR
20.99%†
Balance Transfer Rate
22.99%†
Cash Advance APR
22.99%†
Annual Fee
$120
Foreign Transaction Fee
2.5%
Both cards have similar annual fees and rewards in similar purchase categories, but the Laurentian Bank Visa Infinite* is better suited for flyers while the CIBC Dividend® Visa Infinite* Card is stronger for road trippers who would more frequently need to fill up the car with either gas or electric charge. The 4% grocery bonus makes it a compelling everyday card, but the signup bonus can’t compare to the value offered by Laurentian Bank.
Disclosures:
- †Terms and Conditions Apply. This offer is not available for the residents of Quebec.
- The information for the CIBC Dividend® Visa Infinite* Card has been collected independently by Money.ca. The card details on this page have not been reviewed or provided by the card issuer.
Laurentian Bank Visa Infinite* vs.BMO CashBack® World Elite®* Mastercard®
BMO CashBack® World Elite®* Mastercard®*
4.9
up to 10%
Welcome offerExcellent
Suggested credit scoreGet up to 10% cash back in your first 3 months and the $120 annual fee waived in the first anniversary*.
Expires
Jun 1, 2025
Pros
-
Valuable sign-up bonus
-
High 5% cash back rate on groceries
-
Free roadside assistance
-
Excellent extended warranty and purchase protection terms
Cons
-
Restrictive spending limits for most cash back categories
-
Sign-up bonus structure is head-scratchingly complicated
-
High minimum income requirements
Eligibility
Excellent
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Recommended Credit Score
Excellent
Required Annual Personal Income
$80,000
Required Annual Household Income
$150,000
5%
Groceries: 5% cash back up to $500 spent per month ($25 in cash back)*
4%
Transit: 4% cash back up to $300 spent per month ($12 in cash back)*
3%
Gas: 3% cash back up to $300 spent per month ($9 in cash back)*
2%
Recurring Bills: 2% cash back up to $500 spent per month ($10 in cash back)*
1%
Everything Else: 1% cash back, unlimited*
Groceries: 5% cash back up to $500 spent per month ($25 in cash back)*
5%
Transit: 4% cash back up to $300 spent per month ($12 in cash back)*
4%
Gas: 3% cash back up to $300 spent per month ($9 in cash back)*
3%
Recurring Bills: 2% cash back up to $500 spent per month ($10 in cash back)*
2%
Everything Else: 1% cash back, unlimited*
1%
20.99%
Purchase APR
23.99%
Balance Transfer Rate
23.99%
Cash Advance APR 21.99% for Quebec residents
$120
Annual Fee annual fee waived in the first year*
2.5%
Foreign Transaction Fee
Purchase APR
20.99%
Balance Transfer Rate
23.99%
Cash Advance APR
23.99%
Annual Fee
$120
Foreign Transaction Fee
2.5%
Pros
-
Valuable sign-up bonus
-
High 5% cash back rate on groceries
-
Free roadside assistance
-
Excellent extended warranty and purchase protection terms
Cons
-
Restrictive spending limits for most cash back categories
-
Sign-up bonus structure is head-scratchingly complicated
-
High minimum income requirements
Eligibility
Excellent
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Recommended Credit Score
Excellent
Required Annual Personal Income
$80,000
Required Annual Household Income
$150,000
5%
Groceries: 5% cash back up to $500 spent per month ($25 in cash back)*
4%
Transit: 4% cash back up to $300 spent per month ($12 in cash back)*
3%
Gas: 3% cash back up to $300 spent per month ($9 in cash back)*
2%
Recurring Bills: 2% cash back up to $500 spent per month ($10 in cash back)*
1%
Everything Else: 1% cash back, unlimited*
Groceries: 5% cash back up to $500 spent per month ($25 in cash back)*
5%
Transit: 4% cash back up to $300 spent per month ($12 in cash back)*
4%
Gas: 3% cash back up to $300 spent per month ($9 in cash back)*
3%
Recurring Bills: 2% cash back up to $500 spent per month ($10 in cash back)*
2%
Everything Else: 1% cash back, unlimited*
1%
20.99%
Purchase APR
23.99%
Balance Transfer Rate
23.99%
Cash Advance APR 21.99% for Quebec residents
$120
Annual Fee annual fee waived in the first year*
2.5%
Foreign Transaction Fee
Purchase APR
20.99%
Balance Transfer Rate
23.99%
Cash Advance APR
23.99%
Annual Fee
$120
Foreign Transaction Fee
2.5%
The BMO CashBack® World Elite®* Mastercard® has impressive bonuses for groceries and travel that make it highly practical but also a fairly narrow scope of rewards. The Laurentian Bank Visa Infinite* is much more well-rounded (even if the reward tiers aren’t as high) and has a similar annual fee.
Disclosures:
- *Terms and conditions apply.
- BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.
Is the Laurentian Bank Visa Infinite* worth it?
The Laurentian Bank Visa Infinite* is a well-rounded credit card that offers rewards for coveted purchase categories and is the best in Laurentian Bank’s lineup. However, the relatively low reward rates and a high annual fee make this a tricky sell once that annual fee is no longer waived. If you meet this card’s income and credit score requirements, you’ll find more compelling rewards card options out there.
Laurentian Bank Visa Infinite eligibility requirements
As noted, the Laurentian Bank Visa Infinite Card has slightly higher income requirements versus some other cards from the bank. You'll need to meet the following requirements when applying to get approved for the card:
- 1.
Canadian resident of the age of majority in your province or territory
- 2.
Excellent credit score
- 3.
$60,000 personal income or $100,000 household income
FAQs
Tyler Fordham is a finance writer and credit card expert who loves all things rewards.
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