Triangle Mastercard Review 2024: The Canadian Tire Credit Card

• Earn 4% cash back in CT Money on nearly all purchases at Canadian Tire, Sport Chek, Mark’s, L’Équipeur, Party City, Atmosphere, Pro Hockey Life, Sports Rousseau, Hockey Experts, L’Entrepôt du Hockey and participating Sports Experts.
• Earn 1.5% cash back in CT Money (up to $12,000 in annual purchases) when you buy groceries (excludes Costco and Walmart).
• Earn 0.5% cash back in CT Money on all other spending.
• Receive $0.5 in CT Money per litre when you fuel up at Gas+ and Essence+ gas stations.
• No annual fee.
• No income requirements.
• Skip the interest and fees when financing eligible Canadian Tire purchases of $150 or more.
• You can get cash back rewards with bonus offers to earn up to 30 times more per dollar on purchases.
• Allows you to easily return items bought on the card without a receipt at participating locations.

The iconic Canadian Tire has been around for nearly 100 years, so it’s safe to say it knows a thing or two about loyalty. Its customers may not have stacks of paper Canadian Tire Money collecting in their junk drawer anymore, but the digital equivalent stored on the Triangle Mastercard is just as rewarding (and easier to keep track of too).

The Triangle Mastercard itself is a basic, no-annual-fee credit card, perfect for cardholders that don’t need all the typical bells and whistles found on premium credit cards.

Cardholders will receive 4% cash back in the form of CT Money on everyday purchases at Canadian Tire and a handful of other participating retailers owned by Canadian Tire Corporation, Limited. The card also earns 1.5% on groceries, $0.5 on fuel and 0.5% back when you shop anywhere else.

Just like the paper Canadian Tire Money, you can stack CT Money with bonus offers to earn even more CT Money on your spending. Cardholders can receive weekly deals and access to bonus events that earn 30 times more per dollar on purchases. Plus, if you still have a few old bills of the physical Canadian Tire Money lying around, you can convert them into digital dollars at any Canadian Tire store.

• No annual fees or income requirements.
• Earn cash back in CT Money on everyday purchases: Collect 4% on purchases from participating retailers, 1.5% on groceries, $0.5 per litre at select gas stations and 1.5% when you shop everywhere else.
• Every dollar in CT Money equals a dollar to redeem at Canadian Tire and its partner retailers.

Earning rewards

If you frequently shop at Canadian Tire or any of the other partners, you can quickly rack up CT Money with this card. You can collect 4% on eligible purchases at Canadian Tire and participating retailers for sporting equipment, home and lifestyle goods, and car rentals. However, the earn rate drops to 0.5% when you shop anywhere other than the approved partner stores.

Every time you fill up at Gas+ and Essence+ pumps, you can earn $0.5 per litre on all fuel types, including diesel. There are no minimums or maximums on the fuel required to qualify for the cash back rate.

Cardholders can also collect 1.5% on groceries up to $12,000 in purchases per year, but it’s important to note that this excludes Costco and Walmart.

The earn rates are decent, but the “cash” you get back is digital CT Money. That means, you can only spend it at the retailers under the Canadian Tire corporate umbrella. You will also only be collecting rewards on pre-tax amounts. Plus, there are plenty of other cash back credit cards that put real money back in your pocket based on the total transaction amount and have higher earn rates, to boot.

Redeeming Rewards

Redeeming rewards is relatively straightforward. Simply show your card to a cashier or use your points online at any partner location and watch the price go down. The easiest way to use your rewards is through the Triangle Mastercard App. The app will give you quick access to your rewards total and available bonus offers.

The dollar for dollar redemption value is respectable and the app is handy, but you can only redeem rewards at approved locations that accept CT Money. This puts a cap on what you can buy with your rewards. Another drawback is the cash back earned at Gas+ and Essence+ can’t be redeemed for fuel. Other credit cards give you real cash back to put towards gas bills, like the American Express Gold Rewards Card.

Rewards Potential

We did the math for you by calculating what the average Canadian spends every year for each TD Cash Back Visa Infinite* Card cash back category. Forbes Advisor uses data from multiple government agencies in order to determine both baseline income and credit card spending averages across various categories.

Forbes Advisor estimates the total annual credit card spending to be $27,851.70. Of that amount, grocery purchases add up to $7,536, earning $113.04 in CT Money the 1.5% rate. All other spending would earn the 0.5% rate, unless it was at partner stores. So, the $3,360 on gas, coming out to $16.80 in CT Money and the $2,436 in recurring bills ($2,436) would amount to $12.18. Canadians also spend $14,519.70 in other spending categories (like dining, air travel, hotels, online purchases and miscellaneous spending) that could reasonably be charged to a credit card and would earn at the base rate of 0.5%, earning them. That would amount to just $72.59 in CT Money, earning them a grand total of $214.61 in CT Money per year.

Overall, the Triangle Mastercard doesn’t earn very much considering that there are other credit cards out there that offer more flexible rewards (like cash) and can earn upwards of $500 a year, based on the exact same spending. That said, we didn’t account for purchases made at partner stores, since sporting equipment, workwear and Canadian Tire shopping don’t fall into typical spending categories. But, if you spend a lot at those stores, this card might be well worth the 4% back in CT Money.

• No Fee Financing: Get interest-free financing with no upfront fees on qualifying purchases of more than $150.
• Easy Returns: Return items to participating stores with no receipt.
• Bonus Rewards: Stack your credit card rewards with bonus offers to earn more cash back overall.

Interest Rates

• Regular APR Min: 19.99%
• Regular APR Max: 27.99%

Fees

• Cash Advance: 22.9%
• Foreign Transaction Fee: 2.5%
• Annual Fee: $0

Triangle Mastercard vs. Triangle World Mastercard

The Triangle World Mastercard is an invite-only card. Getting an invitation will depend on your membership and spending history. This information is kept under lock and key, just like the application. Like its lower-tier counterpart, there are no annual fees or income requirements. Cash back rewards follow the same structure, with a slight increase in earn rates on fuel that pays $0.5 per litre on premium grades and $0.7 per litre on all other fuel types, but this slight increase might not be worth the invite for everyone.

Triangle Mastercard vs. Triangle World Elite Mastercard

The Triangle World Elite Mastercard is available to those who meet the income requirements of $80,000 annual earnings or $150,000 household income. Cardholders can still skip the annual fees and earn the same cash back at participating retail stores and gas stations. Rewards are boosted to 3% for grocery stores and 1% on other purchases. Based on the same annual spending calculations, Triangle World Elite Mastercard holders can earn $327.64 annually, compared to the Triangle Mastercard’s $214.60. Plus, they’ll get additional perks like car rental insurance, a 90-day purchase warranty, roadside assistance, and 24/7 concierge services. If you can qualify, the Triangle World Elite beats the regular Triangle Mastercard pretty handily.

Triangle Mastercard vs. CIBC Costco Mastercard

The CIBC Costco Mastercard offers 3% cash back (and that’s real cash back) at restaurants and Costco gas stations. Cardholders earn 2% at other gas stations and on Costco.ca. All other purchases offer 1% cash back wherever Mastercard is accepted. There are no annual fees or limits on cash back rewards. Forbes Advisor estimates CIBC Costco Mastercard holders can earn $422.58 annually with Costco purchases or $367.62 with non-Costco purchases. Both numbers trump the Triangle Mastercard’s annual estimated earnings of $214.60—and it earns cash back you can use anywhere, not just at specific stores.

The CIBC Costco Mastercard also has additional benefits like liability protection, extended warranty, and $1,000 mobile device insurance.

When determining a rating for individual credit cards, the Forbes Advisor Canada editorial team factors in an exhaustive list of data points. With cash back, the scoring model used takes into account factors such as, but not limited to, cash back rates and categories, fees, welcome bonus, and other rewards and features. Keep in mind, what may be best for some people might not be right for you. Conduct informed research before deciding which cards will best help you achieve your financial goals.

Earning free money—even if it has the Canadian Tire logo—is a great way to get paid for things you already buy. If you frequently shop at Canadian Tire and its partner retailers , the Triangle Mastercard offers rewards with little to no risk. You don’t need to make a certain amount of money to get approved and there are no annual fees to surprise you on the credit card bill. Anyone that plays sports or has an affinity for the outdoors could benefit from getting cash back on the expensive equipment required for an active lifestyle. However, having an additional cash back card with better earn rates will benefit you much more and have way more flexibility when it comes to your everyday spending.

Related: Best Credit Cards to have in Canada