The Meridian Visa Infinite is a great card for the average person that drives around and buys groceries. The card provides a 4% cashback rate on gas and groceries, making it very valuable for the average individual. It also provides a 2% cashback on pharmaceutical purchases and utility bills. As long as you don’t go over your spending limit with it – which is $25,000- you’ll get a great value for your buck. This card costs $99 a year, but the first year is free.
Below is a breakdown of what the card offers, what it lacks, and our opinion about it’s overall benefits.
Meet The Meridian Visa Infinite
In a world filled with overhyped and disappointing credit cards, the Meridian Visa Infinite* gives some hope. It’s a card that does exactly what it’s meant to do and has a clear target audience. It also gives a great value for its costs depending on your spending habits and requirements. That’s more than enough to get this card in our good books. The Meridian Visa Infinite isn’t perfect, of course, but its pros far outweigh its cons.
One thing to take note of is that you’re going to need a membership in the Meridian Credit Union to get this card.
The Meridian Visa Infinite In A Nutshell
$0 for the first year
|Card Fee (One-time payment)||$30|
|Cashback||Gas and groceries: 4%|
Pharmacy purchases and utility bills: 2%
|Annual Interest Rate||19.50%|
|Minimum Income||Personal: $60,000/year|
A Breakdown Of The Cashback System
Yes, the 4% cashback on perhaps the most in-demand purchase items is great. However, there’s a catch. While you’ll get 2% on purchases from the pharmacy or utility bill payments, and 4% on gas and grocery purchases, there’s a limit to them. These numbers will only hold true as long as your yearly spending is below $25,000. After that, your cashback will be reduced to 1% for all purchases. However, $25,000 is a pretty good amount to draw the cap at.
The Benefits Of Having A Meridian Visa Infinite
#1 Travel Benefits
You’ll never be left stranded if you’ve got the Meridian Visa Infinite at your side. It offers some of the best travel insurance we’ve seen yet.
- Rental Insurance: Feel free to rent any car you want while you’re off on your holiday. You’ll be completely covered against damages or theft for up to 48 days since you started renting the car. That’ll save you a lot of hassle and maybe even a lot of money. Better safe than sorry.
- Baggage Insurance: If your baggage has been delayed, the Meridian Visa Infinite will reimburse you with up to $500 in damages, while you stand to get up to $1,000 if your baggage has been stolen, lost, or damaged. Pretty generous, if you ask us.
- Travel Health Insurance: This is where the Meridian Visa Infinite really takes the cake. During 48 days, it covers you for up to $5 million for medical emergencies while traveling. This far exceeds most credit card coverage. However, you’ll have to be under the age of 75 to avail of this. Also, you’ll be insured for up to $1 million if you have an accident while traveling in a common carrier. This insurance will also cover your spouse and children!
#2 Shopping Benefits
- Phone Protection: Here’s some rare insurance coming from a credit card. We don’t normally see credit cards having your back if your phone is lost, but the Meridian Visa Infinite covers you for up to $1,000 if your phone or tablet is lost, damaged, stolen, or starts to malfunction. Dear Meridian … thank you!
- More Warranty: You’ll get an extra year of warranty on all your purchases.
- Purchase Protection: You’ll be covered for up to $10,000 per item or $50,000 per account with this feature. Your purchases will be protected for a maximum of 90 days. If they’re damaged or stolen, you’ll be reimbursed.
- Price Protection: If any item happens to get a reduced price within 60 days of purchasing it, you’ll be paid the difference by Meridian. Sweet!
Related: If you shop at Amazon.ca, you might want to check out their credit card.
#3 High Cashback
Sure, it doesn’t have the highest cashback out of all the cards, but the Meridian Visa Infinite is still among the top on our list. This card offers 4% on all grocery and gas purchases, that’s incredibly useful!
Let’s face it, a big chunk of our purchases are groceries and car fuel. If you’re living the average lifestyle, you’re really going to save a lot of money with this feature. In fact, if you happen to max out the cashback spending limit of $25,000 of groceries and gas, you stand to save $1,000 per year. That’s much more than the $99 annual fee that you’ll have to pay to carry this card around.
With that being said, we’re not ruling out the 2% cashback on utility bills and pharmaceutical purchases. It’s quite a saver on expensive monthly spending which everyone can use.
#4 No Annual Fee For The First Year
Meridian sure knows how to greet its customers, and they clearly demonstrate it with this welcome offer. Not having to pay anything for the first year will allow you to maximize your early savings with this card.
#5 You Can Choose How You Get Your Cashback
Not many cards will allow you to have so much sway over how and when you want your cashback. You can choose to get the money directly in your account, through merchandise, gift cards, or event tickets.
Where The Meridian Visa Infinite Falls Short
#1 The $25,000 Spending Limit
We can’t possibly expect this credit card to have no caps on their cashback. There are cards that do that, however, but we’ll get to that later. For now, we’d have been pleased with anything around the $50,000 mark. That would have made this card a stellar choice.
Once your spending limit runs out, you’re going to receive a flat 1% cashback on every purchase, which is only average at best.
#2 A Rather High Annual Fee
Spending $99 on a credit card every year might not be everyone’s cup of tea. It really matters how much you’re going to use this card throughout the year because if the cashback you receive doesn’t square up with this yearly fee, you’re going to get a net loss.
$2500 x 4% = $100
You’ll need at least $2,500 in gas and grocery spending every year if you want to break even by earning $100 in cashback.
#3 No Big Welcome Offer
A simple lack of an annual fee for the first year is not enough for some people to go head-over-heels. There aren’t any shiny deals that we can really mention either. It’s not a deal-breaker, of course, but it really would help the Meridian Visa Infinite if it had some little extra incentives.
#4 Not Available in Quebec
Residents of Quebec will have to turn to another option as this card simply isn’t available there.
Alternatives To The Meridian Visa Infinite That You Might Like
#1 Capital One Costco Mastercard
The Capital One Costco Mastercard allows you to earn limitless cashback on your purchases. If the spending limit on the Meridian Visa is putting you off, you might want to consider Costco’s card instead. However, the Capital One Costco Mastercard focuses its cashback offers on restaurants, so it might not be for everyone.
#2 Amex AIR MILES® Platinum Card
If you’re after a credit card that might help you travel around, you could consider the Amex AIR MILES Platinum. It does its job well and is great as both a main spending card or support that waits its turn at the back of your wallet. Either way, it’s a better option than the Meridian Visa Infinite for those looking for travel rewards.
So, Should You Get The Meridian Visa Infinite?
Is the Meridian Visa Infinite worth purchasing?
The short answer is: yes.
You should definitely go for it since it offers a high cashback on items that the average person purchases constantly. Let’s put it this way:
- Do you drive a lot?
- Do you spend tons on groceries?
If the answer to both these questions is a resounding ‘yes’, then you should go ahead and purchase this card because it’ll help you save tons of money in the long run. If you’ve got a family to raise and children to drop to school, it’ll be pretty handy to have the Meridian Visa Infinite in your wallet. Even if you max out your yearly spending limit, you could also get another card to help out with your grocery shopping. Remember, even if you max out your spending limit, you’re still saving $900 via cashback every year.
However, if you think you’re not going to drive much or prefer take-out rather than groceries, then this card is simply not for you.
Lastly, we know this card offers some great travel insurance. However, that’s just an added bonus, it’s not really the main reason to get it. That’s because there are simply much better credit cards out there that focus on travel. The Meridian Visa Infinite doesn’t reward you if you purchase flight tickets or stay at hotels. Therefore, if travel insurance is important for you, you should stick to a card focused on travel so that you can get more value out of your experiences.
With that being said, you can get your Meridian Visa Infinite here: