Desjardins Cash Back Mastercard Review

Get ready to transform your everyday spending into exciting rewards with the Desjardins Cash Back Mastercard! 

The Desjardins Cash Back Mastercard is thoughtfully crafted for savvy individuals who appreciate value and convenience without the burden of an annual fee. Whether you’re buying groceries, dining out, fueling up your car, or managing your recurring bill payments, this card is engineered to give you something back. Prepare to be delighted by how seamlessly it integrates into your lifestyle, making every transaction a little more satisfying!

CREDIT CARD

Desjardins Cash Back Mastercard

up to 2% cash back No annual fee

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More Than 10 Ways to Benefit:

The Desjardins Cash Back Mastercard comes packed with an array of features designed to enhance your purchasing power and provide valuable protection. Each benefit is crafted to bring you tangible advantages and peace of mind.

1. $0 Annual Fee: Experience all the fantastic benefits without paying an annual fee! This is a truly significant advantage, meaning every dollar of cash back you earn is pure savings, not just offsetting a yearly cost. 
2. Up to 2% Cash Back on Eligible Purchases: Get ready to earn money back on the things you buy most! With the Desjardins Cash Back Mastercard, you can receive up to 2% in cash back on specific categories. 
3. 0.5% Cash Back on All Other Purchases: The rewards don’t stop with specific categories! For everything else you buy with your card, you’ll still earn a solid 0.5% cash back. 
4. 3-Day Travel Insurance: Travel with greater confidence knowing you have coverage for short trips! This card offers free travel insurance for you and your family for trips up to 3 days outside your province of residence. This includes Emergency Healthcare Coverage up to $5 million per person, Trip Cancellation/Interruption coverage, and Baggage Insurance. 
5. Accord D Financing Option: For larger purchases, this card offers a flexible payment solution! Accord D financing allows you to pay for significant purchases in installments, often at preferential interest rates, directly through your credit card account. 
6. Optional Credit Balance Insurance: Protect your loved ones and your credit score with optional Credit Balance Insurance. This coverage can help pay off or reduce your credit card balance in the event of unforeseen circumstances like disability, job loss, or death.

Who Can Apply: Eligibility Criteria

To be eligible to apply for the Desjardins Cash Back Mastercard, you generally need to meet the following criteria:

• Age of Majority: You must have reached the age of majority in your province or territory of residence.
• Canadian Resident: You must be a permanent Canadian resident.
• Creditworthiness: While a specific minimum income isn’t always explicitly stated for this card, a good credit score and a stable financial situation are generally required. Desjardins will assess your credit history and overall financial profile to determine eligibility. Rate-comparison sites often suggest a recommended credit score of 660+ for this type of card, but this can vary.
• Not Undischarged Bankrupt: You must not be an undischarged bankrupt.
• Desjardins Membership (Potentially for Best Terms): While not always a strict requirement to get the card, being a Desjardins member might sometimes offer preferential terms or facilitate the application process.

It’s important to note that meeting these criteria does not guarantee approval, as the final decision rests with Desjardins based on their complete assessment.

How to Apply: Your Steps to Savings

Applying for the Desjardins Cash Back Mastercard is a straightforward process. Here’s a general guide:

1. Visit the Desjardins Website: Navigate to the official Desjardins Cash Back Mastercard page.
2. Review Card Details: Ensure this is the right card for you by reviewing its features, benefits, rates, and fees one more time.
3. Click “Apply Online”: Look for a button or link that says “Apply now,” “Apply online,” or similar.
4. Complete the Application Form: You will need to provide personal information, which typically includes:
   • Full name, date of birth, and contact information (address, phone number, email).
   • Social Insurance Number (SIN) – often optional but can help expedite the credit check.
   • Employment information (employer’s name, your occupation, income).
   • Financial information (assets, liabilities, housing costs).
5. Consent to Credit Check: As part of the application, you will need to consent to Desjardins performing a credit check.
6. Review and Submit: Carefully review all the information you’ve entered for accuracy before submitting the application.
7. Await Decision: After submitting your application, Desjardins will process it. This may take a few minutes for an instant online decision, or it could take several business days for a more detailed review. You will be notified of their decision.
8. Receive Your Card: If approved, your new Desjardins Cash Back Mastercard will be mailed to you, typically within 7-10 business days. You will then need to activate it upon receipt.

Alternatively, you can often apply by phone or by visiting a Desjardins caisse (branch).

Frequently Asked Questions (FAQ)

Here are some frequently asked questions about the Desjardins Cash Back Mastercard:

1. How is the cash back redeemed?
   Cash back is redeemed automatically. Once you accumulate $25 in cash back, it will be automatically credited to your credit card statement.
2. What is the minimum payment required each month?
   The minimum payment is typically 5% of your outstanding balance, interest, and any installments due, or a minimum flat amount if the balance is low. Refer to your cardholder agreement for the exact calculation.
3. Are there any spending caps on the cash back categories?
   Yes, for the 2% categories of Restaurants and Pre-authorized payments, the accelerated earn rate applies up to a combined annual spending limit of $3,600. After reaching this cap, purchases in these categories will earn cash back at the standard 0.5% rate.
4. How can I check my cash back balance?
   Your cash back earnings and redemptions are typically shown on your monthly credit card statement. You can also usually check this information through Desjardins’ online banking platform (AccèsD) or mobile app.

CREDIT CARD

Desjardins Cash Back Mastercard

up to 2% cash back No annual fee

APPLY NOW You will be redirected