Understanding the Desjardins Cash Back Mastercard
The Desjardins Cash Back Mastercard is a financial product designed for individuals seeking a straightforward reward system without the burden of an annual fee. This guide provides a comprehensive overview of the card’s features, eligibility requirements, and the steps necessary to complete an application. Below you’ll find all the information you need to make a decision and apply today.
| Issuer | Desjardins |
| Type of Reward | Cash back |
| Cashback Rate | Up to 2% on select categories; 0.5% on others |
| Annual Fee | No annual fee ($0) |
| Purchase APR | 20.90% |
| Cash Advance APR | 21.90% |
| Minimum Income | $0 |
| Network | Mastercard |
Rewards and Cashback Structure
The Desjardins Cash Back Mastercard offers a tiered reward system that allows cardholders to earn money back on daily purchases. The primary benefit of this card is the higher earning rate in specific spending categories that many Canadian households use frequently.
Cardholders earn 2% cash back on restaurant purchases and recurring payments. This 2% rate applies to the first $3,600 spent annually in these combined categories. Once this limit is reached, the cashback rate for these purchases reverts to the base rate of 0.5%. Additionally, a 2% cashback rate is applied to expenditures on entertainment and local transit without the same specific spending cap mentioned for restaurants.
For all other categories, including groceries, gas, convenience stores, pharmacies, travel, telecommunications, streaming services, online transactions, and office supplies, the card provides a flat rate of 0.5% cash back. This consistent base rate ensures that every dollar spent contributes toward the total cashback balance.
Fees and Interest Rates
One of the most notable features of the Desjardins Cash Back Mastercard is the lack of an annual fee. This makes it an accessible option for budget-conscious individuals or those who are new to credit products and want to avoid fixed yearly costs. By removing the annual fee, the issuer ensures that the cashback earned is not offset by a maintenance charge.
Regarding interest rates, the card carries a standard purchase annual percentage rate (APR) of 20.90%. For cash advances, the interest rate is slightly higher at 21.90%. These rates are consistent with many standard credit products in the Canadian market. It is important for cardholders to understand that interest is charged on outstanding balances that are not paid in full by the monthly due date.
Eligibility and Application Requirements
The Desjardins Cash Back Mastercard is positioned as an accessible entry-level card. A significant advantage for many applicants is the $0 minimum income requirement, which allows students, part-time workers, and individuals with modest incomes to apply. While there is no specific income threshold, applicants must generally be of the age of majority in their province or territory of residence and be Canadian residents.
The application process is completed through the issuer’s secure online portal. Applicants are typically required to provide personal identification details, employment information, and a summary of their financial situation to help the issuer determine creditworthiness. Because this is a Mastercard product, it is subject to the network’s global acceptance standards.
Included Benefits and Perks
Despite having no annual fee, the Desjardins Cash Back Mastercard provides a robust suite of insurance coverages and additional perks that are often reserved for premium cards. These benefits provide added value and security for the cardholder during travel and daily life.
- Travel Medical Insurance: Coverage for emergency medical expenses while travelling outside of the home province.
- Trip Cancellation and Interruption: Financial protection in the event that travel plans must be changed or cancelled due to covered reasons.
- Baggage Coverage: Protection against delayed or lost baggage during transit.
- Mobile Device Insurance: Coverage for mobile devices up to $1,000 in the event of loss, theft, or accidental damage.
- Purchase Protection: Coverage against theft or damage for most new items for 90 days from the date of purchase.
- Extended Warranty: An additional year of warranty coverage on many items purchased with the card.
- Costco Acceptance: As a Mastercard, this card is accepted at Costco warehouses across Canada.
Important Considerations
While the card offers several strengths, there are factors that potential applicants should consider. The 2% cashback rate on restaurants and recurring payments is subject to an annual spending cap of $3,600. High spenders in these categories may find the subsequent 0.5% rate less competitive than other specialized cards. Furthermore, the base cashback rate of 0.5% for groceries and gas is lower than what some other reward-focused cards offer, though many of those cards may require an annual fee or higher income levels.
How to Apply
Individuals interested in the Desjardins Cash Back Mastercard can begin the application process online. The digital application is designed for efficiency, providing a clear path from start to finish. Once the application is submitted, the issuer will review the information and provide a decision regarding credit approval. To start the process and view the full terms and conditions, follow the link below to the official application page.