Triangle Mastercard – Everything you need to know

The Triangle Mastercard is the easiest Canadian credit card to qualify for with worthwhile benefits to enjoy

The Triangle Mastercard: The Canadian Tire Money (CTM) earning credit card for the Canadian Tire's loyalty program

It is the basic credit card amongst the Triangle credit card family introduced by Canadian Tire. Considering that Canadian Tire is a reputable and known brand in Canada, it makes sense for them to expand into the credit card industry.

If you are looking for a simple and practical card, the Triangle Mastercard is a good start. Why? Keep reading to find out!

In this post you’ll find:

Basic Features of Triangle Mastercard

Card TypeCredit Card
Annual fee$0
Annual Interest Rate19.99 – 27.99% 
depending on your income level
Foreign Transaction Fee2.5%
Cash Advance Fee$4 charged when a transaction is posted to your account

Yes – you read it right. $0 annual fee and there are no hidden agendas to it. However, the annual interest rate varies for different income level applicants. A lower income applicant can have a higher annual interest rate of 27.99%. 

More Triangle Mastercard perks to be discussed below!

Key Requirements to Own Triangle Mastercard

It really is pretty simple to qualify for the Triangle Mastercard. Canadian Tire does not have strict requirements to approve applicants, and there is no stated minimum annual income or minimum credit score to apply for this card. Some applicants have been granted ownership to this card even with a less than good credit score.

To give you an idea of how easy it is to be approved, one Triangle Mastercard user was given the green light to own the card, even though he was a bankruptcy discharge less than a month before he applied for it. 

Applicants on-site (at Canadian Tire stores) can potentially be approved within minutes and issued a temp card for on-the-spot purchases.

Canadian Tire Money (CTM)

Canadian Tire Money is the rewards currency for Canadian Tire. At first, CTM was made of popular paper notes of low denominations as cash back of 0.4% of purchases made at Canadian Tire stores. These paper notes were then used as cash value at Canadian Tire stores for future purchases. 

CTM is now paperless. It was first replaced with the Triangle Rewards card and is now known as electronic Canadian Tire Money (eCTM). CTM and eCTM are basically the same thing. Once you receive your Triangle Mastercard, your card gets linked with your CTM ‘e-money’ account to allow points to be jointly accumulated. 

If you don’t have the Triangle Rewards card, not to worry – every Triangle Mastercard holder is automatically enrolled in the Triangle Rewards program giving your Triangle Mastercard the feature to store the eCTM collected.

eCTM does not have an expiry date. It stays with you, even if you don’t use it, for as long as you like.

Your eCTM can’t be transferred to other rewards program. It can only be redeemed at Canadian Tire stores and it can also be used as cash in other participating stores. However, you are able to donate your eCTM to charities or community groups. If you’re interested in making a donation, please visit the CTM Program Website for further details.

Triangle Mastercard Perks 

The major plus of the Triangle Mastercard is the cashback you receive in the form of Canadian Tire Money (CTM). 

CTM Perks Details
Earn back CTM 4% at Canadian Tire & participating stores on the pre-tax amount only.  0.8% for purchases everywhere else. 5¢ back per litre on all fuel types at Gas+ and Husky locations.
Equal Payment Plan 12 or 24 month financing with 0% fee/interest on selected stores for purchases above $200 or $500 respectively 
No Receipt Returns Easy returns without a receipt at selected stores
Others Weekly bonuses and personalized offers

The participating stores alongside Canadian Tire stores to earn 4% CTM are:

  • Sport Chek, 
  • Atmosphere, 
  • Sports Rousseau, 
  • Hockey Experts, 
  • L’Entrepôt du Hockey 
  • participating Mark’s/L’Équipeur and Sports Experts stores

You can redeem your CTM at the above participating stores including Canadian Tire stores as well. The range expanding beyond Canadian Tires allows ample opportunities for a Triangle Mastercard holder to earn CTM which improves the purchase value. 

The Triangle Mastercard’s CTM Earning Rate

This credit card has three distinct earning rates: 4% on Canadian Tire store, 5 cents per liter There is a small clarification that needs to be clear on the 4% CTM earned. This earning rate only applies on the pre-tax amount, not the total amount. This means that the cashback you’ll get on the total purchase will be less than 4%.

For example:

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Cost of items XYZ $100
CTM earned $4
Average Sales Tax in Canada13%
Total Cost of items XYZ incl. tax (Cost of items XYZ + 13% of Cost of items XYZ) $113 
Percentage of CTM earned
3.53%

If your purchase cost is $100, you will earn $4 in CTM. Assuming the average sales tax in Canada is 13%, the total purchase is $113. Which means, the $4 earned in CTM is only 3.53% of the total purchase paid. Even so, 3.53% is still pretty decent and its close to 10x of what Canadian Tire offered previously, which was just 0.4%. 

You can earn 0.8% CTM on any other purchases. This includes your mandatory monthly dues such as utility bills. However, the term ‘other purchases’ excludes gas, where you earn 5¢ per liter at any Gas+ and Husky locations. No limit, no catch! What more could you ask for when the card has no annual fee, and when there are no expiry dates for the CTM earned. That just makes it an even better deal. 

Other Ways To Earn CTM

Apart from normal earning rates, there are bonuses as well– e.g. Canadian Tire exclusive e-mail offers, flyer offers, offers available in the app and Triangle Rewards Days. These bonuses can range from 10x-50x the CTM for selected items purchased. These bonuses are in addition to the 4% earned in CTM money at Canadian Tire and participating stores. It doesn’t have to be either/or for all the perks Canadian Tire offers. 

Additional Perks Of The Triangle Mastercard

Two of the distinct features, which are not common with credit cards in general, are the equal payment plan and no receipt policy with the Triangle Mastercard. 

Equal Payment Plan

For purchases between $200-$499, the purchase is deducted from your credit limit and is divided into 12 equal monthly payments. For purchases of $500 onwards, it will be divided into 24 equal monthly payments. 

Provided you meet the payment due dates, you won’t be charged for any additional fees/interests. These plans can be used while purchasing in store or online to your convenience. 

No Receipt Refund

As long as your Triangle Mastercard was used to pay for the purchase, no receipt is required if you need to return an item. The CTM you had earned will automatically be deducted in the same amount.

Triangle Mastercard holders with poor credit report have experienced instant credit limit upgrades to as high as $1000. There are no income-qualification questions asked to qualify for this upgrade. 

Overall… 

The Triangle Mastercard is definitely an easy card to hold on to, especially since there are no additional costs involved to do so. The only way the Triangle Mastercard would pose as an issue would be if your credit dues are not paid on time, considering the interest rate (subject to what interest rate is charged to you). Otherwise, the benefits that comes with the card are worth its while to hold on to. What’s more – the CTM earned has no expiry date, which makes it a no brainer to use this card.

The main rule of thumb to follow as you use this card is to always clear your balance on time and you would have no issues of holding on to this amazing credit card! 

Enjoy the experience while the $0 annual fee lasts. 

This post was not sponsored. The views and opinions expressed in this review are purely my own. We update this information as frequently as possible, but keep in mind that the terms of these cards do change from time to time.

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