Canadian Tire Triangle Mastercard Review (Plus A Card We Like Even More)

November 24, 2021
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The Canadian Tire Triangle Mastercard is a basic, no-fee credit card that offers 4% cash back at Canadian Tire and 5¢ per liter savings on gas at Canadian Tire gas stations. However, the card falls short in a number of key areas, and lacks the large bonuses and rewards available from other Canadian cards. 

Instead, we recommend applying for one of American Express’ low-fee cards, such as the Marriott Bonvoy Card or the Cobalt Card. Both offer impressive welcome bonuses (worth $1,000 or more) plus far more benefits than the Triangle Mastercard, making them better value in both the short-term and the long-term. 

Features Of The Canadian Tire Triangle Mastercard

Here are the key features of the Canadian Tire Triangle Mastercard:

CT Money earned on purchases at Canadian Tire and other select retailers4%
CT Money earned on grocery purchases1.5%
CT Money earned on other purchases0.8%
Savings per litre at Canadian Tire Gas+ gas stations
Foreign Transaction Fee2.5%
Cash Advance Fee$4
Annual fee$0

As you can see, the key features all revolve around Canadian Tire: you earn 1.5% back in CT Money (Canadian Tire Money) on grocery purchases and 4% back on purchases at Canadian Tire, Sport Chek, Atmosphere, Mark’s Work Wearhouse, Sports Experts, Hockey Experts, Sports Rousseau, L’Entrepôt du Hockey, and L’Équipeur. You also save 5¢ per litre on gas, though only at Canadian Tire Gas+ gas stations.

The other fees to be aware of are the $4 cash advance fee and 2.5% foreign transaction fee, which make it an expensive card for using abroad. The Canadian Tire Triangle Mastercard does not carry an annual fee.

Reasons I Don’t Recommend The Canadian Tire Triangle Mastercard

The Canadian Tire Triangle Mastercard may sound compelling at the outset, but in reality, it’s not as good as many other Canadian credit cards. Here are just a few reasons why I can’t recommend this card: 

1. No welcome bonus

Perhaps the most obvious drawback of the Triangle Mastercard is that it doesn’t come with any welcome bonus. Welcome bonuses on great cards are often worth $500 or more, and really exceptional cards carry welcome bonuses that are worth even more. 

For example, the welcome bonus on the Amex Cobalt Card is 50,000 MR points (worth $1,000 – $1,500), while the welcome bonus on the Marriott Bonvoy Card is 70,000 Marriott Bonvoy points (worth $1,400 – $2,100).

2. Extremely low earn rate

While it may sound enticing that you earn 4% CTM on Canadian Tire purchases, the earn rate on other non-grocery purchases is just 0.8%, which is extremely low. To put it in perspective, you can earn up to 10% back on your spending with the American Express Cobalt Card.

3. You can only use your CTM at Canadian Tire

Most credit cards offer a wide variety of ways in which you can use your rewards: for travel, as cash against your statement balance, and more. But with the Triangle Mastercard, you can only use your rewards at Canadian Tire. If you don’t shop at Canadian Tire regularly, then, this is definitely not the card for you. 

4. There aren’t many Gas+ gas stations

There are only about 300 Canadian Tire Gas+ gas stations across all of Canada, and if you don’t live near one of them, you lose the primary benefit of this card. Even if you do live near a Gas+ gas station, though, gas prices there tend to be about 2-3¢ higher per litre than surrounding gas stations, severely limiting the value of the card.

Overall, the two primary benefits of the Triangle Mastercard—the 0.8% CTM earn rate and the 5¢ per litre gas savings—aren’t that great once you look at them a little more closely. That’s why I can’t recommend this card. 

Triangle Mastercard vs. American Express Cards

1. The Cobalt Card

The Triangle Mastercard is a great card, but the American Express Cobalt Card is even better. That’s partly because the Cobalt Card offers a 50,000 MR points welcome bonus—a welcome offer worth $1,000-$1,500—and partly due to the card’s other features and benefits.

For example, you’ll earn 1 MR point—which we value at 2-3 cents apiece—per dollar spent on all card purchases. This means you’re essentially getting a 2-3% discount on everything you buy, or $20-30 in rewards for every $1,000 you spend.

Compare that with the 0.8% in CTM you get from the Triangle Mastercard, and the Cobalt Card is giving you 2-4x the rewards. So if you’re looking for a low-fee card that gives you more than the Triangle Mastercard, the American Express Cobalt Card is the card for you.

2. The Marriott Bonvoy Card

The Marriott Bonvoy Card is another great option for anyone interested in the Triangle Mastercard. It comes with a welcome bonus of up to 70,000 Marriott Bonvoy points (worth $1,400 – $2,100), and earns 5 points for every $1 spent on eligible travel & gas purchases for your first 3 months of Cardmembership.

On top of that, the Marriott Bonvoy Card comes with 1 free night at a luxury hotel every year plus complimentary Marriott Bonvoy Silver Elite status to take your travels to new heights. Add on the robust travel insurance that comes with the card and it’s clear that the Marriott Bonvoy Card offers far greater value than the Triangle Mastercard.

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In Summary

The Canadian Tire Triangle Mastercard is a basic, no-fee credit card that offers 4% cash back at Canadian Tire and 5¢ per liter savings on gas at Canadian Tire gas stations. However, the card falls short in a number of key areas, and lacks the large bonuses and rewards available from other Canadian cards. 

Instead, we recommend applying for one of American Express’ low-fee cards, such as the Marriott Bonvoy Card or the Cobalt Card. Both offer impressive welcome bonuses (worth $1,000 or more) plus far more benefits than the Triangle Mastercard, making them better value in both the short-term and the long-term. 

Triangle Mastercard FAQs

What Is The Limit On A Triangle Mastercard?

The limit on your Triangle Mastercard depends on your credit score, your credit history, and any payment history you have with other Canadian Tire credit cards. You’ll be informed of your limit when your card application is approved.

How Do I Increase My Credit Limit On My Triangle Mastercard?

To increase the limit on your Triangle Mastercard, you need to call CTFS toll-free at 1-800-459-6415. Their customer support agents will help you find a credit limit that makes sense for you.

Is Triangle Mastercard A Credit Card?

Yes, the Triangle Mastercard is a credit card, and it will be accepted everywhere that Mastercards are accepted. You will be approved for a certain credit limit when you apply for the card, and you can use the information above to increase your limit to a higher amount.

Is The Triangle Mastercard Easy To Get?

The Triangle Mastercard is easy to get, and you can do the entire application online in just a couple of minutes. You’ll need to fill out your personal information like your name and address, as well as your social insurance number. There’s no minimum annual income or minimum credit score to apply for the card.

Just because the Triangle Mastercard is easy to apply for, though, doesn’t mean it’s the right card for you. Check out our current recommendation for the best no-fee credit card in Canada in the green box at the top of this post.

Is The Triangle Mastercard Worth It?

The Triangle Mastercard is a decent card to have in your wallet, but it’s not nearly as valuable as other Canadian credit cards. We recommend two American Express cards instead—the Cobalt Card and the Marriott Bonvoy Card—because they offer far more value and come with very reasonable annual fees.

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