3 Best Brim Credit Cards In Canada (Feb 2023)

January 22, 2023
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brim financial

There are quite a few good Brim credit cards in Canada, but some stand out above the rest for their impressive cash back rates, insurance benefits, and overall flexibility. I constantly keep up with the latest options and policy changes and make my recommendations below based on my years of experience.

The Brim World Elite Mastercard has an annual fee of $199 – waived for the first year – and some of the best features include high points earn rates on qualifying purchases, no foreign transaction fees, and comprehensive insurance coverage. Another perk is that as a Brim Financial cardholder, you can schedule payments in installments on all purchases $500 and above. 

What Is A Brim Credit Card?

Brim credit cards are a type of Mastercard credit cards backed by Brim Financial, the only fintech company in North America licensed to issue credit cards. Brim Financial credit cards come in all shapes and sizes, and include excellent benefits like generous cash back rewards, comprehensive insurance coverages, and low annual fees.

As of 2023, Brim Financial has only launched three credit cards: the Brim Mastercard, the Brim World Mastercard, and the Brim World Elite Mastercard. Brim Financial is fairly new compared to other, more established credit card issuers, but all three credit cards they offer are packed with excellent features and are very cost-effective

The Best Brim Credit Cards In Canada

1. Brim World Elite MastercardBest For Earning Cashback

Pros

  • No foreign transaction fees
  • Comprehensive travel and purchase insurance coverage
  • Can be used using Apple Pay, Samsung Pay, Google Pay, Fitbit Pay, and Garmin Pay
  • Earn up to 2% cashback from purchases

Cons

  • No foreign transaction fees
  • No annual fee
  • Compatible with Apple Pay, Samsung Pay, Google Pay, Fitbit Pay, and Garmin Pay

2. Brim World MastercardBest For Introductory Offer

Pros

  • No foreign transaction fees
  • Comprehensive insurance coverages
  • Free annual fee in the first year of membership
  • Can be used using Apple Pay, Samsung Pay, Google Pay, Fitbit Pay, and Garmin Pay

Cons

  • High minimum annual income for personal and household
  • $99 annual fee is higher than other credit cards

3. Brim MastercardBest For No Annual Fee 

Pros

  • No foreign transaction fees
  • No annual fee
  • Compatible with Apple Pay, Samsung Pay, Google Pay, Fitbit Pay, and Garmin Pay

Cons

  • Less insurance coverage than other Brim credit cards
  • Low earning rate among the Brim credit cards

How Do Brim Credit Cards Work?

You can use Brim credit cards like any other credit card. First, you apply for one of the credit cards online. The eligibility and requirements may vary depending on which credit you pick; the Brim World Elite Mastercard and Brim World Mastercard have the highest requirements.

Why Get A Brim Credit Card?

You should get a Brim credit card to earn cashback from your purchases. These credit cards are also accessible to Apple Pay, Samsung Pay, Google Pay, Fitbit Pay, and Garmin Pay. None of the Brim Financial credit cards charges a foreign exchange fee, so these cards are ideal if you travel often and are looking for comprehensive insurance coverage.

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Rewards To Look For In A Brim Credit Card

Brim credit cards offer great cashback rewards. There’s not much to expect about its cash back since it is provided just like credit cards from other issuers. However, its base earning rate is relatively higher than other market cards.

  • Earn up to 2% cashback from eligible purchases in the annual fee
  • Each point is equal to one cent.
  • Use earned points to pay for purchases or reduce the account balance.

Types Of Brim Credit Cards in Canada

#1 Cash Back Credit Cards

All of the Brim credit cards are cashback cards. Although it earns points, it is equivalent to a cent in real money. You can redeem in the form of statement credits for purchases and the total amount of your card balance. 

#2 No Annual Fee Credit Cards

The Brim Mastercard is the only Brim credit card that doesn’t carry an annual fee. It’s a good option for people who want a credit card without annual fees to worry about. Meanwhile, the Brim World Elite Mastercard and Brim World Mastercard have high annual fees.

How To Choose A Brim Credit Cards In Canada

Welcome Bonus

Unfortunately, Brim credit cards don’t offer a welcome bonus. If you're specifically looking for welcome bonuses, we recommend checking out other options.

Annual Fee

Annual credit cards are not great, but the benefits you can get are also limited. Those with annual fees have a comprehensive range of perks and benefits. However, it will depend on your ability to pay the expenses. 

Earning Rate

Higher annual fees have excellent earning rates. The Brim World Elite Mastercard has the highest earning rate among the Brim credit cards. It also has the highest annual fee compared to other Brim cards.

Insurance Coverages

All of the Brim credit cards offer insurance coverage. However, the Brim Mastercard is only equipped with five insured categories. It is still better than other no-annual-fee credit cards that don’t offer insurance. 

Rewards Flexibility

Since all the Brim credit cards are cashback, the rewards are only provided as statement credits. You can use it for your purchases or the total credit card balance. 

Exclusive Features

One unique feature that may differ from other credit cards is the flexibility to use it in various payment mobile apps. Not all credit cards in Canada are entirely accessible to these apps. 

How To Redeem Your Brim Credit Cards Rewards

Brim Financial credit cards are cashback cards. Its rewards are only limited to redeeming statement credits. Every point earned from purchases equals $.01, which needs 100 points to get a $1.

There are two ways to redeem the cashback rewards. You can apply it to your purchase or the total balance of your credit card. Here’s how you can use it:

  1. Use points for your purchase: Download the Brim Financial App which is available for iOS and Android devices. You can automatically apply your points to any purchase in the app. It is also up to you how many points you will be using. 
  1. Use points to your total account balance: You can apply your points to your credit card total balance through online banking. When you pay, you can access your points and use them to your balance. The points you can use will depend on how much you will enter. 

How To Apply For Brim Credit Cards In Canada

To apply for Brim credit cards in Canada, you can visit their official website and apply for the desired card. Each credit card's requirements may vary. The typical criteria for using our eligibility are credit score and annual income.

Eligibility

The Brim credit cards have the usual eligibility requirement. You can apply if you possess the following: 

  • You must be a Canadian resident
  • You must possess the majority of the age in your province or territory. For reference, the age of the majority in Manitoba, Alberta, Ontario, Quebec, Saskatchewan, and Prince Edward Island is 18 years old, while 19 years old in all other provinces.

Credit Score

Brim credit cards require a decent credit score which ranges from 660 to 759. You can get the Brim Mastercard if you have the least credit score range. The Brim World Mastercard and the Brim World Elite Mastercard start from 725 and up. 

Income

Each of the Brim credit cards requires different minimum income requirements. To know which you are more qualified, check the following credit scores per credit card:

Brim Credit CardsPersonal IncomeHousehold Income
Brim World Elite Mastercard$80,000$150,000
Brim World Mastercard$60,000$100,000
Brim Mastercard$15,000None

Brim Credit Cards FAQs

Are Brim Credit Cards Worth It?

Brim credit cards are worth it because they have no foreign exchange fees, carry various insurance coverages, are accessible to five mobile payment apps, and more. Brim credit cards can be a great option for you if you make a lot of purchases at qualifying stores and can earn a lot of cash back.

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