Canadian Tire Triangle World Elite Mastercard Review

March 28, 2020

The Canadian Tire Triangle World Elite Mastercard is a no annual fee credit card with tangible benefits such as accelerated earn rates in Canadian Tire, sports supplies stores, groceries and gas, free roadside assistance, free insurance coverage and even concierge service.

However, when taking a closer look at this card and considering its total score, we have determined that it's not the best option out there and that we can't fully recommend it. Instead, we recommend you consider offers like the American Express Cobalt Card, which has a welcome bonus of up to 50,000 MR points, a 5X earn rate on eligible eats & drinks (including spending on groceries, food delivery, cafes, bars and more), and a monthly fee of just $10.

Welcome Bonus0
Rewards Program10
Earning Rates6
Travel Benefits3
Annual Benefits vs. Annual Fee10
Referral Program0
Travel Insurance2
Purchase Coverage10
Foreign Transaction Fees5
Customer Service & Online Experience5

Features & Benefits of the Canadian Tire Triangle World Elite Mastercard

Earn Rate on Canadian Tire, Sport Chek, Atmosphere, Sports Rousseau, Hockey Experts, L’Entrepôt du Hockey, and participating Mark’s/L’Équipeur and Sports Experts stores.4% CTM
Earn Rate on Grocery Stores3% CTM
Earn Rate on all other purchases1% CTM
Earn Rate on premium fuel at Gas+/Essence+ locations and participating Husky stations 7¢ CTM/litre
Earn Rate on all other fuel grades at Gas+/Essence+ locations and participating Husky stations 5¢ CTM/litre
Roadside Assistance
Concierge Service
Foreign Transaction Fee2.5%
Annual Fee0$
Easy Financing
Easy Returns without a receipt at selected Canadian Tire stores

#1 Welcome Bonus

This card doesn't offer a welcome bonus, although it doesn't charge an annual fee either. This softens the blow, but it's a drawback, especially when you consider the fact that other no-fee cards do offer welcome bonuses.

Canadian Tire Triangle World Elite Mastercard Card Welcome Bonus Score: 0/10

#2 Rewards Program

The Triangle World Elite Mastercard is a part of the Triangle Rewards loyalty program. Canadian Tire Money (otherwise known as CTM) is usable at any Canadian Tire, Sport Chek, Atmosphere, Sports Rousseau, Hockey Experts, L’Entrepôt du Hockey and participating Mark’s/L’Équipeur and Sports Experts stores.

As a Canadian Tire Triangle World Elite Mastercard cardholder, you will be automatically enrolled in the Triangle Rewards program so you can earn Canadian Tire Money. The value of CTM depends on the purchase type – the highest earn rate is 4%, which you earn (pre-tax amount) at Canadian Tire and participating stores. This makes this card one of the best Canadian Tire credit cards available in Canada.

Here is a breakdown of how much CTM you earn for your purchase:

Purchase Amount $100
CTM Earned $4
Average Sales Tax in Canada 13%
Total Cost Including Tax $113 
Real % of CTM Earned

If your purchase costs $100, you'll earn $4 in CTM. And with an average sales tax of 13% in Canada, the total purchase comes to $113, which means the $4 in CTM you earn is 3.53% of the total purchase paid. Even though the real earn rate is 3.53%, not 4%, it's still nearly a 10x step up from the 0.4% cashback Canadian Tire used to offer. 

CTM never expires: it stays with you, even if you don't use it, for as long as you like. Your CTM can't be transferred to other rewards programs, and it can only be redeemed at Canadian Tire stores. You can also donate your CTM to charities or community groups if you choose.

Canadian Tire Triangle World Elite Mastercard Card Rewards Program Score: 10/10

#3 Earn Rates

Spending CategoryPoints Earned Per Dollar Spent
Food & Drinks1
Gas & Groceries3

With this card, the basic earn rate will be 1% CTM on eligible purchases, but you'll get accelerated earn rates on great categories.

Groceries shopping is an inevitable purchase in your weekly, if not monthly, spending. With Triangle World Elite Mastercard, you can earn 3% CTM on grocery purchases within the first $12,000 per year. After the $12,000 mark, you will earn 1% CTM on further grocery purchases until the calendar year ends. The accelerated 3% applies to grocery purchases at any outlet, excluding Costco and Walmart.

With the 4% CTM earn rate at Canadian Tire and participating stores (see Features & Benefits table for all the participating stores), there is no cap. That's an unlimited earning potential at the card's best earning rate!

Let's say you spend $1,000 per month on groceries. That'll add up to $12,000 per annum, giving you the maximum return in this category at the 3% rate. This means that you stand to save up to $360 per year on groceries alone.

The same level of spending at Canadian Tire or the other participating stores would mean saving $480.

Special Earn Rate: Gas Rewards

Another great way to earn CTM with this card is by filling up your tank at Gas+/Essence+ and participating in Husky gas stations. 

If you are a premium fuel user, you would receive 7¢/litre in CTM and for all other types of fuel, you would receive 5¢/litre in CTM. Considering that the average price of premium 95-octane fuel in Canada during the first trimester of 2020 was around $1.25/litre, this earning rate works up to an astounding average of 5.6%. Lower-grade fuel averaged around $0.9/litre, so the 5¢ you get back equals an average of 5.6% as well.

This level of return on fuel is almost unparalleled and is only surpassed by the Amex Cobalt's 10%, so if you use your car frequently or like to travel by road, this card is a Godsend.

Canadian Tire Triangle World Elite Mastercard Card Earn Rates Score: 6/10

#4 Travel Benefits

Even though it's a World Elite Mastercard, this is not a travel card and performs rather poorly regarding travel benefits.

Companion Tickets 
Hotel Status 
Hotel Benefits/Upgrades
Annual Travel Credit
Airport Lounge Access 
Airport VIP 
Other Travel Benefits 

This card doesn't bring in lounge access, airport VIP treatment, hotel of frequent flier status upgrades, hotel room upgrades or anything like that. However, it does include the World Elite Concierge service, which can be an invaluable ace under the sleeve when you're in an unfamiliar city.

Serviced by Assurant Services Canada Inc. (ASCI), you can request assistance from the concierge team on travel, entertainment, business and shopping arrangements. Any cost that is incurred will be charged to your Canadian Tire Triangle World Elite Mastercard.

It is key to note that the World Elite Concierge service is not an insurance benefit. On top of that, you can enjoy Enhanced Customer Service where you get priority queuing with the call centre.

Canadian Tire Triangle World Elite Mastercard Card Travel Benefits Score: 3/10

#5 Annual Benefits vs. Annual Fee

Comparing this card's benefits with the annual fee seems far-fetched, considering that it doesn't have a fee. Consequently, the dollar value of the annual benefits is pure profit, making this card great value.

canadian tire triangle world elite mastercard no annual fee

The only catch here is you will need to have a minimum $80,000 personal annual income or a $150,000 combined household annual income to qualify. The main benefits this card offers year after year, regardless of whether you use it to pay for purchases or not, are the concierge service and the roadside assistance plan.

Did you do the math already? With this card, you're getting world-class concierge service and roadside assistance… FREE!

Since the card doesn't have a welcome bonus, then there is no difference between the benefits during the first year and every year after that. This makes this card highly valuable, not to mention much easier to understand than popular rewards credit cards like the Amex Gold and Platinum cards.

Canadian Tire Triangle World Elite Mastercard Card Annual Benefits vs. Annual Fee Score:10/10

#6 Referral Program

Many credit cards offer bonuses for referring friends and acquaintances to apply for them. For example, the Marriott Bonvoy Amex card will give you 10,000 points for every successful referral. This is usually a great way for both you and the referred person to make extra money. Unfortunately, this is not the case with the Canadian Tire Triangle World Elite Mastercard.

Canadian Tire Triangle World Elite Mastercard Card Referral Program Score: 0/10

#7 Travel Insurance

Emergency Medical Insurance (Out of province/country)N/A
Travel Accident InsuranceN/A
Trip Cancelation InsuranceN/A
Trip Interruption InsuranceN/A
Baggage Delay & Flight Delay InsuranceN/A
Lost or Stolen Baggage InsuranceN/A
Hotel/Motel Burglary InsuranceN/A
Car Rental Theft and Damage Insurance$65,000

The travel insurance coverage for this card is poor as it is not as comprehensive. It does come with Car Rental Theft and Damage Insurance of $65,000. To qualify for this insurance benefit,

  • you have to use your Canadian Tire Triangle World Elite Mastercard to charge the car rental fully and decline the rental agency’s damage waiver.
  • the car rental has to be in your name even if the rental has been charged to your Canadian Tire Triangle World Elite Mastercard
  • the car rental period must not exceed 31 consecutive days.

While the travel insurance may not be as comprehensive, the car rental theft and damage insurance are pretty handy especially when this insurance type usually costs $20 / day of the car rental. However, the coverage sum is not as extensive as other cards such as Amex Cobalt which has car rental insurance which covers up to $85,000 for 48 consecutive days

Canadian Tire Triangle World Elite Mastercard Card Travel Insurance Score: 2/10

#8 Purchase Coverage

For the keen shopper, the great news about Canadian Tire World Elite Mastercard is it has good purchase coverage. It has both Purchase Security and Extended Warranty coverage.

If you pay for your purchases fully with your card, your purchase will be protected for ninety (90) days from the date of purchase against loss, damage or theft anywhere in the world. In terms of the extended warranty coverage, you can receive double the period of repair services otherwise provided by the Original Manufacturer’s Warranty to a maximum of one (1) full year. This is valid without any registration required as long as the original warranty is 5 years or less and valid in Canada or the United States.

Canadian Tire Triangle World Elite Mastercard Card Purchase Coverage Score: 10/10

#9 Foreign Transaction Fees

This card charges a pretty standard Foreign Transaction fee, but the Foreign Cash Advance fee is somewhat lower than its nearest competitors. The 2.5% charged on all foreign transactions is almost an industry standard, with very few cards charging more, and very few charging less. Most credit cards charge a $5 fee on cash advances in foreign currency, but this one only charges $4, making it only second to the Desjardins Classic Visa, which doesn't charge a fee on cash advances.

Canadian Tire Triangle World Elite Mastercard Card Foreign Transaction Fees Score: 5/10

#10 Customer Service & Online Experience

Canadian Tire has customer service accessibility via phone and email contact only. This credit card customer service is available 24 hours for 7 days a week.

Canadian Tire Triangle World Elite Mastercard Card Customer Service & Online Experience Score: 5/10

Additional Benefit: Canadian Tire Triangle World Elite Mastercard Roadside Assistance

Now, this is a rare perk to receive for a $0 annual fee card. As an inclusive benefit of your Triangle World Elite Mastercard, you will have the Triangle™ World Elite Mastercard® Roadside Assistance® Gold Plan for free.

The Triangle™ World Elite Mastercard® Roadside Assistance® Gold Plan comes with the benefits below:

  • You can make 5 service calls per 12 month period with one tow per service call.
  • An unlimited number of tows to any Canadian Tire Auto Service Centre to the destination of your choice (within Canada or the United States) as long as it's within the distance limit of the plan which is 250km. The tow is not counted against the limit of service calls established in this plan.

For detailed terms and conditions on the plan, click on the link above. 

Alternatives To The Canadian Tire Triangle World Elite Mastercard

If you feel this card is not for you, we recommend you check out this offer instead:

Canadian Tire Triangle Mastercard

The Canadian Tire Triangle Mastercard is a basic, no-fee credit card that offers 4% cash back at Canadian Tire and 5¢ per litre savings on gas at Canadian Tire gas stations. However, the card falls short in several key areas and lacks the large bonuses and rewards available from other Canadian cards, but it's much easier to get than the World Elite card version.

American Express Cobalt Card

The American Express Cobalt Card has been receiving a lot of attention since its fall 2017 launch, and with good reason: it’s an extremely compelling offer. $12.99/month for a card that gets you 5X the points on food and drink purchases in Canada and 2X the points on travel purchases anywhere in the world is an excellent deal.

This credit card is marketed at millennials and near-millennials, so if you fit either of these, you’ll definitely want to give the Cobalt Card a closer look.

Marriott Bonvoy American Express Card

The Marriott Bonvoy is a low-fee travel card filled with perks. It's one of the best travel cards in Canada, hands down. It comes with an exceptional welcome bonus of 50,000 points (required spend: $1,500, conditions apply), an additional free hotel night every year after the first year, and an impressive travel insurance policy to keep you and your belongings safe and secure.

Who should get the Canadian Tire Triangle World Elite Mastercard?

All in all, the World Elite Mastercard (similar to its sister card, the Canadian Tire Triangle Mastercard) is a good card to own primarily due to the $0 annual fee and the free concierge service. For such a card with no annual fee, the accelerated earn rate on grocery purchases (assuming you can purchase them at stores aside from Costco and Walmart) offers great value for most Canadians. This card is highly recommended if you regularly shop for groceries and own a personal vehicle.

As with all credit card choices, it all comes down to your lifestyle and spending habits.

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