Canadian Tire Triangle Mastercard Review

If you love shopping at Canadian Tire or any of its partner stores, such as Sport Chek or Marks (Work Warehouse), you may be interested in the Canadian Tire Triangle Mastercard, issued by Canadian Tire Bank.

The Triangle Mastercard is unique in that it features a generous rewards program but doesn’t charge an annual fee.

In this article, I cover the features and benefits of the Triangle Mastercard and let you know who the card is best suited for. I also break down the more premium Canadian Tire World Elite Triangle Mastercard.

Canadian Tire Triangle Mastercard

The Triangle Mastercard is the entry-level Mastercard offered by Canadian Tire, but there’s very little that’s entry-level about it, aside from there is no annual fee.

Card Features:

• No Annual Fee
• Earn 4% CT Money on qualifying purchases at any Canadian Tire store, Sport Chek, and participating Marks/Atmosphere locations
• Earn 1.5% on grocery store purchases
• Earn 0.5% on all other purchases
• Gasoline discount of 5 cents/litre at participating gas stations
• Available No Fee, No Interest Financing on purchases over $150 at Triangle partner stores
• 19.99% purchase interest rate / 22.99% on cash advances

Let’s take a closer look at the main benefits of this card:

Earn Rewards

Cardholders earn 4% in CT Money on almost all purchases at Triangle retailers, including Canadian Tire, Mark’s (Work Warehouse), Sport Chek, L’Équipeur, Party City, Pro Hockey Life, Atmosphere, Sports Rousseau, Hockey Experts, L’Entrepôt du Hockey, and participating Sports Experts stores.

In addition, you’ll earn 1.5% in CT Money on grocery store purchases (excluding Costco and Walmart.) The earn rate for all other card purchases is 0.5%.

You can redeem your CT Money in-store at Canadian Tire and its partner stores (mentioned above.)

Fuel Discounts

In addition to CT money earnings, the Triangle Mastercard comes with a gasoline discount. When you fill up your gas tank at Gas+, you’ll receive a 5-cent/litre discount.

0% Interest Financing

Triangle Mastercard users can select the no fee, no interest financing feature when making qualifying purchases of $150 or more at participating retailers.

I’m surprised that the Extended Warranty and Purchase Protection is not included with the basic card, as many competitors offer this benefit on their no-fee, entry-level credit cards.

Lastly, there is no minimum annual income requirement for the Triangle Mastercard.

Triangle World Elite Mastercard

The Triangle World Elite Mastercard is Canadian Tire’s premium credit card, featuring a rich rewards program and numerous other benefits. Let’s break down the full offering from this top-level Triangle credit card. While this card has a minimum annual income requirement, surprisingly, there is no annual fee.

Here’s what you get with the Triangle World Elite:

• No Annual Fee
• $80,000 annual income (or $150,000 per household) required to qualify
• Earn 4% CT Money on most purchases at Canadian Tire and its partner stores
• Earn 3% CT Money on purchases at grocery stores, up to $12,000/a (excludes Walmart & Costco)
• Earn 1% on all other purchases
• Discount of 7 cents/litre on premium fuel fill-ups at participating gas stations. (5 cents/litre for all other fuel grades)
• Available No Fee, No Interest Financing on purchases over $150 at Triangle stores
• Triangle World Elite Roadside Assistance Gold Plan included
• Purchase Security and Extended Warranty Protection
• Car Rental Collision/Loss Damage Waiver Insurance
• 24/7 Concierge Services
• Enhanced Customer Service
• 19.99% purchase interest rate / 22.9% on cash advances

The Triangle Mastercard and Triangle Rewards

When you receive your Triangle Mastercard, you are automatically registered in the Triangle Rewards program.

This free program allows Canadian Tire customers to collect and redeem Canadian Tire Money and become eligible for bonus rewards and other benefits. For example, Triangle Rewards members can return items without producing a receipt, a nice perk.

Regular Triangle Rewards members also collect 0.40% in CT Money on purchases, but if you spend with a Triangle Mastercard, you’ll earn up to 4% on your purchase.

The Triangle Mastercard maximum 4% earn rate is superior to the regular rewards program, but note that regular Triangle Rewards cannot be stacked on top of the rewards earned by the credit card.

How to Collect Canadian Tire Money

Back in the day, Canadian Tire customers earned paper Canadian Tire money, but the iconic retailer has moved their currency onto a digital platform. As long as you’re a Triangle member, you can earn CT Money by showing your membership card or using your Triangle app when shopping.

When Canadian Tire Bank launched the Triangle credit card, it became easier to collect CT Money. As long as you use your Canadian Tire Triangle Mastercard when you shop, you automatically collect CT Money.

Canadian Tire Fuel Discounts

With the Triangle Mastercard, you’ll receive a discount of 5 cents/litre when you fill up with fuel at any Gas+/Essence+ location and participating Husky stations. (The World Elite Mastercard discount is 7 cents/litre for premium and mid-grade fuel.)

While the fuel discounts are a great benefit, you’ll want to ensure you have access to the participating stations to fill up your tank, as they offer fewer locations when compared to leading brands like Esso or Petro Canada.

No Fee / No Interest Financing

When you make a qualifying purchase of $150 or more at any Canadian Tire, Sport Chek, or participating Marks/Atmosphere store, you can finance the purchase over 12 months, with no interest or set-up fees. Here’s how it works.

Let’s say you spend $1000 on tires for your car. If you pay with your Triangle credit card, you’ll be able to finance the purchase in 12 equal monthly installments.

Your credit card limit would be reduced by the purchase amount, and the monthly installment would be included in your minimum payment when you receive your statement.

No fees or interest will be charged if you make the required monthly payment on time.

This way, if you encounter a costly or unexpected expense you might not have budgeted for, you can take your time to pay it off without having to worry about high-interest charges.

Exclusive Triangle Offers

You can earn bonus Triangle rewards when you pay with your Triangle Mastercard. These limited-time offers arrive via e-mail, flyer, or during Triangle Rewards Days and can provide up to 10X rewards.

Canadian Tire Triangle Mastercard Pros and Cons

There’s a lot to like about the Triangle Mastercard, but it’s not for everyone. Here is my list of pros and cons:

Pros

• No annual fee
• No minimum annual income requirement
• Earn 4% rewards on Canadian Tire and partner purchases
• Earn 3% in Canadian Tire money when shopping at grocery stores
• Gas discounts of 5 cents/litre at participating gas stations
• 0% equal payments plan is available

Cons

• No welcome bonus
• Low standard earn rate
• No extended warranty or purchase protection

Triangle Mastercard Review: Final Thoughts

If you spend a lot of money at Canadian Tire stores (and their partners), it makes sense to have a Canadian Tire credit card.

With the Triangle Mastercard, Canadian Tire has delivered a product that will appeal to many Canadian shoppers.

Notable features include the no annual fee, the ability to collect a whopping 4% in Canadian Tire Money, and the choice of no fee, zero percent financing on major purchases.

With rewards extending to other popular Canadian Tire retail partners, it makes for a valuable rewards program if you are a loyal Canadian Tire shopper.

On the downside, if you don’t often shop at Canadian Tire, Sport Chek, Marks, etc., or you prefer to buy your groceries at either Walmart or Costco, you’ll be far less likely to maximize the rewards offered by the Triangle Mastercard.

If you meet the minimum annual income requirement, the Canadian Tire World Elite Mastercard is the better choice, as it offers better rewards and no annual fee.