Brim World Mastercard Review (Feb 2023)

December 22, 2022
Reviews
brim financial

The Brim World Mastercard offers excellent rewards and cashback from eligible purchases. Cardholders can redeem these points to pay for their subsequent purchases or use them as a statement credit. If you travel often, you can take advantage of the free membership of Mastercard Travel Pass by DragonPass and complimentary Boingo Wi-Fi access worldwide. 

You can get comprehensive insurance coverage from Brim World Mastercard for an annual fee of $99. It also allows you to pay your purchases in an installment plan if you reach $500 and above. With no foreign transaction fees, you can freely pay and purchase from stores outside Canada without minding the typical 2.5% charge from the total amount. 

What Is The Brim World Mastercard?

The Brim World Mastercard is a premium credit card issued by a Canadian fintech company, Brim Financial. It was founded in 2015 and is headquartered in Toronto. Over time, it became the only fintech licensed to provide credit cards. 

With an annual fee of $99, the Brim World Mastercard offers comprehensive insurance coverages, no foreign transaction fees, and installment plans for purchases worth $500 and above. It also entitles you to access exclusive Mastercard benefit programs and Boingo Wi-Fi hotspots for over a million hotspots worldwide. New cardholders can earn 1.5% cash back with $25,000 spent first year capping. 

Brim World Mastercard Features

The Brim World Mastercard falls in the second tier among the Brim Financial credit cards. The basic version is the Brim Mastercard, and the highest tier is the Brim World Elite Mastercard. You can get all the essential features with a few additionals as a premium card. This credit card is ideal for frequent travelers and individuals who often have transactions outside Canada. 

#1 Annual Fee Waived For The First Year

Equipped with premium benefits, the Brim World Mastercard has an annual fee of $99, completely waived for the first year for new cardholders. Although it doesn’t offer a welcome bonus, this introductory offer is greatly valuable to new cardholders. Additionally, you can get more bonuses for up to $300 if you shop at eligible online stores. 

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A $20 fee for each additional card is reasonable as a premium card. However, its downside is the annual income requirement when you apply for it. You must have $60,000 for personal and $100,000 for the household. 

#2 Comprehensive Insurance Coverages With Flexible Payment Options

Brim World Mastercard’s insurance coverages are undeniably extensive, which you can’t get from other credit cards in the Canadian market. It may offer fewer coverages, but it compliments your purchases, travel, emergency medical, event ticket reimbursement, mobile device, car rentals, hotel burglary, and more. If you’re a frequent traveler, this card is an excellent option for insurance coverage.

Cardholders are also entitled to flexible payment options for purchases $500 and above. You can choose from installment plans for 12, 16, 20, and 24 months. This payment program has a 7% charge for the One-Time Installment fee from the total cost. You will also need to pay the monthly fee of 0.475% of the purchase price.

#3 Earn 1.5 Points For Every Dollar Spent 

New cardholders can earn 1.5 points for every dollar spent using their credit card. However, if you reach the annual capping of $25,000, your earn rate will reduce to 1 point per dollar. Each point earned is equal to one cent. 

You can immediately use your points once you earn $1 cashback. The options you can choose are to redeem it as statement credits or use it to pay for your next purchase. 

#4 Pay With Various Mobile Apps With No Foreign Transaction Fees 

You can access Brim Financial credit cards to various mobile payment apps such as Google Pay, Apple Pay, Samsung Pay, FitBit Pay, and Garmin Pay. It is one of the best features of the Brim World Mastercard that you can’t find on most credit cards. Whether you have an android or iOS device, you can easily use your card through contactless payments. 

Individuals with frequent transactions outside Canada may opt for the Brim World Mastercard. It has no foreign transaction fees, which saves you from the typical 2.5% charges for 

foreign transactions. Moreover, you can use the savings to pay for your monthly billing instead. 

#5 Solid Security Protection Using Brim Financial Mobile App

Brim Financial allows cardholders to access their accounts through its mobile app. One of the features that helps you from unauthorized purchases is the instant card lock. You can also monitor the investments made using your card through real-time purchase notifications. 

Once you detect unusual activity in your account, you can automatically lock it to prevent continuous purchases. You are also protected from charges caused by fraudulent activities with Zero Liability protection. 

#6 Complimentary Mastercard Travel Pass Membership And Boingo Wi-Fi Access

Frequent travelers can take advantage of the complimentary membership for Mastercard Travel Pass. As such, you can access more than 1,000 airport lounges worldwide. Meanwhile, this membership does not offer free passes; you must pay for the $32 cost per visit to the lounge. 

Besides the free airport lounge membership, you are entitled to complimentary Boingo Wi-Fi access. It has hotspots for over a million locations worldwide, making it easier to use an internet connection for communication purposes. It's a good companion for cardholders who constantly travel to various countries. 

Brim World Mastercard Pros And Cons

Pros

  • Earn 1.5 points on eligible purchases on the first year of membership
  • No foreign transaction fees
  • Comprehensive insurance coverages
  • Complimentary membership for Mastercard Travel Pass by Dragonpass
  • Free access to Boingo Wi-Fi to over a million locations worldwide
  • Earn up to $300 introductory bonuses from eligible online shops
  • Solid security with instant lock features and real-time purchase notifications
  • Zero Liability protection to prevent charges caused by fraudulent activities made using your account
  • Pay your purchase in an installment plan

Cons

  • High annual income requirement for card applicants ($60,000 for personal and $100,000 for household)
  • High earning rate has a capping of $25,000 for the first year of membership

Brim World Mastercard Pricing

The Brim World Mastercard is a premium credit card with a tremendous amount of insurance protection issued by Brim Financial. With a $99 annual fee, you can access exclusive benefits and perks. Other than this fee, additional charges and interest are applied when using this card. Before you apply, consider checking some of the essential costs, as shown in the table below. 

Interest and FeesCost
Annual fee$99 (waived on the first year)
Additional Card Fees$20 each
Annual Purchase Rate19.99% 
Cash Advance Rate (APR)21.50%
Foreign Transaction Transaction Fee0%
Balance Transfer Fee19.99% of the amount

Brim World Mastercard has a decent annual fee compared to other premium credit cards in the market. Its extensive features make it a valuable option, especially for frequent travelers. Your eligible purchases are protected with an Extended Warranty which doubles the manufacturer’s warranty by up to one year. 90-day insurance coverage is also provided for your purchases. 

In Summary

Brim World Mastercard is one of the market's competing rewards and cashback credit cards. This card is highly recommended to frequent travelers and people who often have transactions outside Canada. 

With a low annual fee for a premium credit card, you are entitled to get comprehensive insurance coverage, free Boingo Wi-Fi access, Mastercard program benefits, and more. You are also provided with a complimentary membership for Mastercard Travel Pass by DragonPass to over 1,000 airport lounges worldwide. Moreover, you can earn 1.5 points for every dollar spent on the first year of membership with a $25,000 cap. 

Brim World Mastercard FAQs

How much does a Brim World Mastercard cost?

Brim World Mastercard has an annual fee of $99. Its first year is waived, while the additional credit cards are worth $20.

Is the Brim World Mastercard worth it?

Yes, the Brim World Mastercard is worth it. It carries comprehensive insurance coverages, complimentary Mastercard Travel Pass membership, and free Boingo Wi-Fi access, and you earn 1.5 points for every dollar spent on the first year.  

Is the Brim World Mastercard safe?

Yes, Brim World Mastercard is safe to use. It is equipped with Zero Liability protection to prevent you from any liabilities if your credit card is used for fraudulent activity. You can also lock your card instantly and receive real-time purchase notifications to monitor your activity. 

Is the Brim World Mastercard legit?

Yes, the Brim World Mastercard is legit. Many Canadians currently use it, and Brim Financial is licensed to issue credit cards. 

How long has Brim Financial been around?

Brim Financial has been around since 2015. It is a Canadian fintech company that is licensed to issue credit cards. The founder, Rasha Katabi, has 20 years of experience working in the capital markets world and structured finance field. 

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