Canadian Tire credit card review: Triangle Mastercard

How the Triangle Rewards program works

While the program is now called Triangle Rewards, you’ll still collect Canadian Tire Money. With Canadian Tire Money, you won’t need to waste any time calculating complicated point values because the program is easy to understand: 1% in Canadian Tire Money = 1 cent that you can redeem at Canadian Tire.

As far as redemptions go, it’s also pretty straightforward. You can redeem your Canadian Tire Money straight from the cashier at all Canadian Tire and Sports Chek stores, as well as at other participating retailers like Mark’s and Atmosphere.

What is the Canadian Tire Triangle Mastercard?

The Canadian Tire Triangle Mastercard is a credit card offered by Canadian Tire, a popular retail chain in Canada. It is a no-fee credit card that allows you to earn rewards on your purchases at Canadian Tire and its partner stores, including Sport Chek, Mark's, and Atmosphere.

Pros of the Canadian Tire Triangle Mastercard

The Triangle Mastercard offers a variety of benefits to cardholders, including:

• No annual fee: Unlike many other credit cards, the Triangle Mastercard does not charge an annual fee, making it a cost-effective option for those looking to earn rewards on their purchases.
  Rewards on everyday purchases: With the Triangle Mastercard, you can earn 4% in Canadian Tire
• Money on purchases made at Canadian Tire, Sport Chek, Mark's, and Atmosphere. You can also earn 5 cents per litre in Canadian Tire Money at Petro and Gas+ locations.
• Flexible redemption options: You can redeem your Canadian Tire Money at any Canadian Tire store, online, or at Petro or Gas+ locations.
• Additional perks: The Triangle Mastercard also offers additional perks, such as exclusive offers and discounts, extended warranty and purchase protection.

Cons of the Canadian Tire Triangle Mastercard

• Limited acceptance: The Triangle Mastercard is primarily designed for use at Canadian Tire and its partner stores. While it offers rewards on everyday purchases, it may not be as widely accepted as other credit cards.
• Limited redemption options: While Canadian Tire Money can be redeemed at Canadian Tire stores, online, and at Gas+ locations, it may not offer the same flexibility as cash back rewards or other types of credit cards, which allow you to redeem points to pay off your statement balance.
• Limited benefits outside of Canadian Tire: While the Triangle Mastercard offers benefits such as extended warranty and purchase protection, these benefits may not be as comprehensive as those offered by other credit cards.

Overall, the Canadian Tire Triangle Mastercard can be a valuable credit card for frequent shoppers at Canadian Tire and its partner stores. However, it's important to consider the limited acceptance, redemption options, and variable interest rates before deciding if it's the right card for you.

How to maximize Canadian Tire Triangle rewards

To make the most out of your Triangle Mastercard, here are some tips to help you maximize your credit card rewards:

• Use your credit card for all your purchases at Canadian Tire and its partner stores to earn 4% in Canadian Tire Money.
• Take advantage of bonus offers and promotions to earn even more rewards.
• Pay your credit card balance in full each month to avoid interest charges. Interest charges can outweigh the value of rewards.
• Keep an eye out for special promotions and sales at Canadian Tire and its partner stores to earn more rewards.

Alternatives to the Triangle Mastercard

While the Triangle Mastercard offers many benefits, it may not be the best credit card for everyone. Here are some alternatives to consider:

Canadian Tire Triangle World Elite Mastercard

The Canadian Tire Triangle World Elite Mastercard is another credit card offered by Canadian Tire. It offers similar benefits to the Triangle Mastercard, but with a few key differences. With the Triangle World Elite Mastercard, you can earn 3% back in Canadian Tire Money on grocery store purchases, vs. the 1% you’d earn with the Triangle Mastercard. However, it does come with a relatively high annual income requirement of $80,000; whereas the Triangle Mastercard has no specified income requirements.

Cash back credit cards

If you are someone who tends to prioritize cash back rewards you can spend anywhere rather than accumulating Canadian Tire Money, there are a wide range of cash back credit cards to choose from within Canada. These credit cards are specifically designed to provide cardholders with a certain percentage of their purchases back in cash, affording them the freedom to utilize this cash as they please. There are several strong options available, such as the Tangerine Money-Back Credit Card, the SimplyCash Preferred Card from American Express, and the BMO CashBack Mastercard.

Read our guide to the best cash back credit cards in Canada to learn more about these options.

When comparing these cards to the Triangle Mastercard, it's important to consider your spending habits and preferences. If you frequently shop at Canadian Tire and its partner stores, and prefer earning Canadian Tire Money, the Triangle Mastercard may be a better fit. However, if you prefer cash back rewards that can be used more flexibly, the Tangerine Money-Back Credit Card or the SimplyCash Preferred Card may be more suitable options.

The bottom line

The Canadian Tire Triangle Mastercard is a great credit card for those who frequently shop at Canadian Tire and its partner stores. With no annual fee and the ability to earn rewards on everyday purchases, it can help you save money and enhance your shopping experience. However, if you prefer cash back rewards or want to earn more rewards on your purchases, there are other credit card options to consider. Ultimately, the best credit card for you will depend on your spending habits and personal preferences.

Also Read:

• The Best Mastercard Credit Cards in Canada
• The best reward credit cards in Canada