Brim Mastercard Review

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by Enoch Omololu

Updated

Advertiser Disclosure

The Brim Financial Mastercard is a no-annual fee credit card with perks that are hard to beat for an entry-level card offering.

You earn 1% in points you can redeem for anything and don’t have to pay foreign currency transaction fees when you shop abroad. This card also offers automatic rewards when you shop at the hundreds of retailers featured on Brim eShop, plus $200+ in first-time bonuses.

In addition to the Brim Mastercard, Brim financial has two other Mastercards in its stable, including:

This review of the Brim Mastercard covers its key features, benefits, downsides, and alternative cards that offer similar rewards.

Brim Mastercard

Brim Mastercard At a Glance

  • $0 annual fee
  • Earn 1 point for every $1 spent
  • Accelerated rewards earn rates at select retailers through Brim Open Rewards
  • 0% foreign transaction fees
  • Free Global Wi-Fi via Boingo
  • Access to a budgeting app
  • Free supplementary cards
  • Mobil device Insurance up to $500
  • Common Carrier Accident Insurance up to $100,000 per insured person
  • Event Ticket Protector Insurance
  • Extended warranty and purchase protection
  • Offers installment payments

Brim Financial Mastercard Benefits

While the Brim Financial Mastercard has no annual fees, it does offer a bunch of benefits and perks that make it worth checking out.

Earn 1% Cash Back: Cardholders earn 1 point per dollar spent on all purchases. This earn rate is equivalent to 1% cash back as 1 point = $0.01. There’s no limit to how much cash back you can earn.

In addition to the flat-rate rewards offer, you also earn accelerated points at hundreds of retailers through inCard, eShop and Milestone bonus offers through the Brim marketplace.

InCard offers automatically apply when you pay using your Brim card at select stores. For example, as of this writing in August 2020, you could earn 10% back at Frank and Oak; 10% back at Lululemon; 5% back at Indigo, 4% back at Nike, 15% back at Contiki, and more.

eShop offers are available on the Brim app and offer up to 30% back in points.

When you meet specific milestones e.g total spend or number of purchases, you may also qualify for bonus points.

New Brim Mastercard card members can earn $200+ in first-time bonuses.

Brim Financial Rewards.

No Foreign Transaction Fee: Brim will not charge you the traditional 2.5% foreign currency exchange fee when you use your card to make purchases abroad.

This perk is rare to find on any credit card in Canada. Other cards offering 0% FX fees include Home Trust Preferred Visa and the Scotiabank Passport Visa Infinite Card.

Free Global Wi-Fi: You get access to over 1 million Boingo Wi-Fi hotspots around the world. If you are a frequent traveller, this perk can save you money and normally costs $39 USD per month.

After activating your card, you receive a link you can use to set up your Boingo account. Boingo Wi-Fi is widely available on airlines, trains, airports, hotels, restaurants, and cafes.

Mobile Device Insurance: When you pay your smartphone or tablet using your Brim Mastercard, you enjoy protection against loss, theft or damage up to $500.

Common Carrier Accident: Cardholders get coverage for accidental death or dismemberment resulting from riding as a passenger on a common carrier (land, air, or water transport).

The coverage amount per insured person is up to $100,000 and is limited to $300,000 per accident. To take advantage of this coverage, your full fare must be charged to your Brim card.

Event Ticket Protector Insurance: You may be covered up to $1,000 if you are unable to use an event ticket due to a covered incident.

Purchase Protection Extended Warranty:  The manufacturer’s warranty on a purchased item is doubled up to one extra year. Your purchases are also protected against loss or damage for the first 90 days from the purchase date.

Installment Payments: This card offers installment payments on purchases over $500 with terms ranging from 12-24 months. The interest on installment is $0; however, you pay a fixed installment purchase fee of 7% of the overall purchase price and a monthly processing fee that is 0.475% of the original purchase price.

Installments are not available in Quebec.

If you are looking for competitive loan rates, check out the best personal loans in Canada.

Free Budgeting App: The Brim app is available on the App Store and Google Play Store. It offers budgeting capabilities so you can track your transactions and set spending limits. You can also set monthly spending limits and customise your budget trough the Brim website.

Easy Cash Back Redemption: Brim points can be redeemed at any time starting from $1 (100 points). Simply redeem it to pay off a transaction in any category.

Free Supplementary Cards: You can add family members to your account for free.

Referral Program:  You earn 2,000 points ($20) for every friend that applies for a card using your referral link and activate it.

Downsides of This Card

For a no-fee card, the Brim Mastercard compares well with its competitors.

The only downside we can think of is that the issuer of this card, Brim Financial, is relatively new in the credit card space.

Brim Financial Mastercard credit cards

No-Annual Fee Credit card Alternatives

Alternative no-fee credit cards offering above-average rewards in Canada include:

1. Tangerine Money-Back Credit: This card offers unlimited 2% cash back in up to 3 categories of spending and 0.5% cash back on everything else.

  • Annual fee  $0
  • Rewards earn rate : Up to 2% cash back
  • Income requirement: $12,000
  • Extra perks: Low balance transfer rate for 6 months, extended warranty, and purchase protection insurance
  • Review: Tangerine credit card

Apply for the Tangerine Mastercard.

2. Home Trust Preferred Visa: This card waives the 2.5% foreign currency fee and pays 1% cash back on eligible purchases. It also offers premium perks you won’t get with other no-fee cards.

Apply for this card.

3. No-Fee Scotiabank Value Visa: This low-interest credit card offers a 3.99% rate on balance transfers for the first 6 months, and 16-99% after that. If you carry a balance from month to month, this can save you money in interest fees.

  • Annual fee: $0
  • Rewards earn rate: N/A
  • Income requirement: $15,000
  • Extra perks: Car rental, discount at participating AVIS and Budget car rental locations
  • Review: No-Fee Scotia Value Visa

Apply for this card.

4. BMO Cash Back Mastercard: Earn 3% cash back on groceries, 1% on recurring bill payments, and 0.5% on everything else. There is a $500 monthly limit for the 3% and 1% cash back categories

  • Annual fee : $0
  • Reward earn rate: 0.5-3% with spending limits
  • Income requirement: $15,000
  • Extra perks: Car rental and Alamo Rent A Car locations; purchase protection and extended warranty
  • Learn more: BMO Cash Back Mastercard Review

Apply for this card.

Brim Mastercard Vs Brim World Elite Mastercard

FeaturesBrim MastercardBrim World MastercardBrim World Elite Mastercard
Annual Fee$0$99$199; waived in first year
Base Rewards Earn Rate1 point per dollar (1% cash back)1.5 points per dollar (on up to $25,000); 1 point per dollar after2 points per dollar  (on up to $25,000); 1 point per dollar after
FX Fees$0%$0%$0%
Free Global Wi-FiYesYesYes
Complimentary Loungekey MembershipNoYesYes
Common Carrier Accident Insurance$100,000/insured; $300,00/accident$150,000/insured; $500,000/accident$150,000/insured; $500,000/accident
Mobile Device InsuranceUp to $500 for loss, damage or theft of tablet or smartphoneUp to $1,000 for loss, theft or damage of tablet or smartphoneUp to $1,000 for loss, theft or damage of tablet or smartphone
Event Ticket Protector InsuranceCoverage up to $1,000Coverage up to $1,000Coverage up to $1,000
Extended WarrantyUp to 1 extra year; $25,000 maximumUp to 1 extra year; $25,000 maximumUp to 1 extra year; $25,000 maximum
Purchase Security InsuranceCoverage up to 90 days following purchaseCoverage up to 90 days following purchaseCoverage up to 90 days following purchase
Out of Province Emergency Travel Medical InsuranceNo8 days; up to $5 million if under 65 years15 days and up to $5 million if under 65 years; 3 days if 65+
Flight Delay InsuranceNo$500/day; $1,000 maximum$1,000/day; $1,000 maximum
Baggage Delay InsuranceNo$1,000/insured; maximum of $2,000$1,000/insured; maximum of $2,000
Lost or Stolen Baggage InsuranceNo$1,000/insured; maximum of $2,000$1,000/insured; maximum of $2,000
Hotel/Motel Burglary InsuranceNo$500/occurrence$1,000/occurrence
Car Rental Collision/Loss Damage InsuranceNoUp to 48 days; $65,000 MSRPUp to 48 days; $85,000 MSRP
Car Rental Accident and Dismemberment InsuranceNoUp to $100,000/insured; maximum of $300,000Up to $100,000/insured; maximum of $300,000
Car Rental Personal Effects InsuranceNo$1,000/insured; $2,000 maximum$1,000/insured; $2,000 maximum
Travel AssistanceNoYesYes
Trip Cancellation InsuranceNoNo$2,000/insured; maximum of $5,000/trip
Trip Interruption InsuranceNoNo$5,000/insured; maximum of $25,000/trip

Brim Financial FAQ

How do I pay my Brim Mastercard balance?

You can pay your balance through the Brim app or portal using Interac e-Transfer, online banking, a cheque via mail, or using your points. Bill payments through Online Banking may take 2-3 days to clear, and cheques may take between 5 and 10 business days before it is reflected on your balance.

What can I use my Brim points for?

Points can be redeemed to pay for any purchase or transaction starting at 100 points ($1). You can also use your points against your statement balance. Your points do not expire as long as your account is in good standing.

Is Brim Financial Safe?

Brim uses 2048 bit SSL encryption to protect your data. Two-factor authentication is also available to prevent your identity from being stolen. The Brim app can be used to lock your card if you misplace it. There is also a feature to block your card from being used to make foreign purchases. Lastly, Brim notifies you by email and SMS if suspicious activity is observed on your account.

Do you have a Brim Mastercard? Let us know about your experiences in the comments.

Brim Financial Mastercard Review
4.5

Summary

Brim Financial Mastercard is a top no-annual fee credit card in Canada. This Brim Mastercard review covers what you need to know.

Best Credit Offers this month

One of the best no-fee credit cards in Canada.

Get 2% unlimited cash back on up to 3 purchase categories.

Get 0.5% unlimited cash back on all other purchases.

1.95% balance transfer offer for 6 months.

Free prepaid reloadable Visa card.

Access to a portion of your paycheque 3 days early.

Free budgeting app with automatic savings features.

Credit building available with a subscription.

1.20% savings interest on every dollar balance.*

Get the best rates from multiple lenders.

Borrow up to $50,000 regardless of your credit score.

Pre-approvals offered in as fast as 5 minutes.

Low interest rates starting at 9.9% (or 1.90% for auto loans).

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Author

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Enoch Omololu

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. His writing has been featured or quoted in the Toronto Star, The Globe and Mail, MSN Money, Financial Post, Winnipeg Free Press, CPA Canada, Credit Canada, Wealthsimple, and many other personal finance publications.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

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