Meridian Visa Infinite Travel Rewards Card review

How the Meridian Travel Rewards card earns points

The Meridian Visa Infinite Travel Rewards Card keeps things simple. Every purchase earns 3 points per $2, or 1.5 points per dollar, and purchases made outside Canada in a foreign currency earn 6 points per $2, or 3 points per dollar.

As an example, someone spending $2,000 a month in Canada would earn 3,000 points a month, or 36,000 points a year. A $1,000 trip abroad would add another 3,000 points, though it would also add about $25 in foreign transaction fees.

Because the rate is the same on almost everything, you don’t need to think about which card to use where. Groceries, gas and household bills all earn the same 1.5x.

The welcome offer

New cardholders can earn up to 7,000 points by making a first purchase on the card. There’s no larger spending target to plan around.

That’s a modest offer: a little over two months of regular earning for the example cardholder above. The ongoing 1.5x rate matters far more than the welcome points over the life of the card.

Redeeming points and Visa Infinite perks

Points can be redeemed for travel, merchandise, gift cards or an account credit. There are no airline or hotel transfer partners, so you redeem through Meridian’s own options rather than moving points into a loyalty program.

As a Visa Infinite card, it includes Visa Infinite Concierge, the Luxury Hotel Collection, the Dining Series and the Wine Country Program.

Fees, interest and the fine print

The annual fee is $99, rebated in the first year. Additional cards cost $30 each, also waived in the first year. From year two, the primary card works out to $8.25 a month.

The 3x foreign currency rate comes with a catch: the 2.5% foreign transaction fee still applies, so $1,000 spent abroad earns 3,000 points but costs about $25 in fees. Purchases are charged 19.5% interest and cash advances 21.99%. Paying the full balance by the due date avoids purchase interest.

Insurance coverage

The card includes a travel insurance package alongside purchase coverage. Age limits, trip length limits and exclusions are in the insurance certificate, so check it before you travel.

• Travel emergency medical
• Trip cancellation and interruption
• Common carrier accident
• Purchase protection and extended warranty

Who it suits, and who should look elsewhere

The Meridian Travel Rewards card suits people who want one flat earn rate on everything, a travel insurance package, and a fee that’s waived for the first year. It’s a sensible choice if you bank with Meridian and want to keep things in one place.

It’s a weaker choice if you want to transfer points to airlines or hotels, or if you spend heavily abroad and want to avoid FX fees entirely.

It can also suit travellers who want insurance included on a card with a modest fee, provided they check the age and trip length limits in the certificate first.

How it compares

The Scotiabank Passport Visa Infinite + Card costs $150 a year and charges no foreign transaction fee, which makes it the stronger option for frequent foreign spending. It earns Scene+ points, including 3 points per dollar at Sobeys, Safeway, IGA, Foodland and participating Co-ops.

If you’d prefer cash back at the same fee, the Meridian Visa Infinite Cash Back Card also costs $99 a year and earns 4% on groceries, with a welcome offer of up to $70 cash back.

Before you apply

The recommended credit score is 720 or higher, and Meridian makes the final decision based on your full credit profile. Confirm the current fee rebate, earn rates and insurance terms on the Meridian website before you apply.