A new breed of credit cards are here – Brim Financial Mastercards. Brim has a unique credit card lineup unlike anything else that’s out there.

Super flexible, easy to use rewards? Check.

Packed full of perks, including a few not seen with other credit cards? Check, and check.

So let’s dive into what Brim has to offer, so you can see for yourself.

Brim Financial overview

Before getting into each individual card, here’s an overview of what they offer. All of these cards share many of the same features.

Brim Financial Cards Smart Features Annual Fee Welcome Bonus Apply
Brim Mastercard * 1 point per $1 spent on all purchases
* 5 types of insurance
* No foreign exchange fees
$0 Up to $200 in first time bonuses after your first purchases at participating retailers (terms) Apply Now
Brim World Mastercard * Up to 1.5 points per $1 spent on all purchases
* 13 types of insurance
* No foreign exchange fees
$99 Up to $300 in first time bonuses after your first purchases at participating retailers (terms) Apply Now
Brim World Elite Mastercard * Up to 2 points per $1 spent on all purchases
* 15 types of insurance
* No foreign exchange fees
$199, first year free Up to $500 in first time bonuses after your first purchases at participating retailers (terms) Apply Now

Related: Best Flat Rate Cash Back Credit Card Battle: Brim Financial Vs. Amex SimplyCash

Brim Mastercard rewards

Let’s start with Brim’s rewards system, as rewards are one of the biggest things we’re interested in when getting a new card.

Brim keeps it so simple, it’s basically like getting straight up cash back.

Every point you collect is worth 1 cent and you can use them towards the cost of ANY transaction made on your card.

Plus you don’t need to save up long before you can start redeeming. Once you have $1 worth of points, you can make a redemption.

All redemptions are done through the Brim App (available on iOS and Android phones). Simply select any transaction, swipe it to the left, and you can choose how many points you want to redeem.

Bonus Brim Rewards

There’s also a great way to earn plenty of bonus points, on top of your already good earn rates.

Brim has partnerships with over 150 online retailers. You can earn anywhere from 3% all the way up to 30% back in points.

Here’s a small sample of what’s available, and what percentage back you can earn in points:

Brim Financial online partners and earn rates

One thing to note about earning rewards through Brim’s online partners? You forgo your card’s regular earn rate.

But you’re earning a lot of bonus rewards that you might not otherwise be getting and dwarfing your regular earn rate.

Related: Online Shopping: Best Credit Cards For Earning Cash Back And Saving On Foreign Transaction Fees

Brim Mastercard smart features

Beyond the straightforward rewards program, Brim’s cards have many other features in common.

Here’s the rundown on the features that every Brim card has, whether or not you’re paying an annual fee.

No foreign exchange fees

One of our favourite fees to be waived are foreign exchange fees. Nobody likes paying the standard 2.5% fee most credit cards add simply for making a purchase in a foreign currency.

Luckily, Brim charges no foreign exchange fees on all of their cards, helping you to keep more money in your pocket.

Free Boingo Wi-Fi

For the frequent traveller, getting some free wi-fi can save you on data charges while you’re out and about.

Have any Brim card, and you’ll get free Boingo Wi-Fi when you travel. Boingo has over 1 million hotspots located around the world, which includes airlines, trains, and hotels.

You can learn more about Boingo Wi-Fi and what they have to offer here.

Brim installment plans

If you have some large purchases coming up, Brim can help you spread the cost of them out thanks to their installment plans.

How do they work?

First thing to note is your purchase will need to be at least $500.

After the purchase has been charged to your Brim card, go to their website or the Brim app and select the purchase you want to set up a payment plan for.

Then all you have to do is choose the duration you want to make your payments, either 12, 16, 20 or 24 months.

Related: Category Vs. Flat Rate Cash Back Credit Cards: Which Is Better?

Are there any fees involved?

Yes, there are a few fees involved.

First, you have to pay a one time fee of 7% of the total transaction. This gets added to your next monthly bill.

Then each month you have to pay a monthly processing fee of 0.475% of the original amount for the duration of your plan.

So for example, on a purchase of $900 spread out over 12 months, this is what you would have to pay.

One time fee: $900 x 7% = $63

Monthly fee: 900 / 12 + ($900 x 0.475%) = $79.28

Overall, you would’ve paid $1,014.36 for your item, which works out to an annual rate of 11.3%.

Is it worth it?

Of course, our suggestion would be to simply pay it in full. If you can’t afford it up front, you shouldn’t make the purchase.

That being said, there are times when you may need some financial help, and this can take a bite out of the much larger interest rates credit card companies charge.

Please note that installment plans are not available in Quebec at this time.

Related: How Credit Card Interest Works in Canada

Up to 20 authorized users

Need quite a few authorized users on your account? Brim will let you add up to 20 authorized users.

And to keep your users from spending wildly, you can adjust the spending limits on all of them in real time.

Up to 15 complimentary insurance coverages

Need some insurance coverage? All of Brim’s cards have you covered. The exact details of what each card provides are mentioned further down, but there’s 2 coverages they all provide that are noteworthy.

Rare coverage for your tickets

The first is Event Ticket Protector Insurance. It’s a unique insurance not found on other credit cards.

And it’s quite simple. If you have a ticket to a sporting event, concert, or theatre show, you can get reimbursed the full cost of your ticket if you can’t make the event for any covered reason.

Rare coverage for your cell phone

The other is mobile device insurance. You can get reimbursed for either a repair or replacement cost for either a mobile phone or tablet. All you need to do is charge the cost of your new phone to your card, or if it’s included as part of a plan, charge the plan to your phone.

So what do you actually get paid? There are several factors involved:

  • a maximum amount, which is either the original cost of the device or your total coverage amount (whichever is less),
  • depreciation that takes away from your payout, and
  • a deductible you have to pay.

Here’s an example calculation, taken from the insurance certificate from the :

Brim mobile device calculation example

Even though the phone’s cost was $500, after owning it for 10 months, your net reimbursement is only $360.

It’s still a good insurance to have, but keep in mind you’ll almost never get the full value of your phone back as reimbursement.

Pay through 5 mobile wallets

For the on-the-go person who doesn’t like to carry their card, Brim can be used on 5 different mobile wallets.

They are:

  • Google Pay,
  • Apple Pay,
  • Samsung Pay,
  • FitBit Pay, and
  • Garmin Pay.

Related: 5 Digital Wallets Compared: Why They’re Safer Than Your Physical Wallet

Free budgeting app

Finally, Brim’s app includes free budgeting tools.

You can track your monthly spend, what types of stores you’re spending in, and set budgets for yourself.

3 things to keep tabs on

Brim is a relatively new product in the marketplace, and there are a couple of things to look out for.

New and relatively unproven

First, they are new and relatively unproven. Brim had a particularly rough launch. There were long waits to get cards issued, and no customer service to speak of. But things appear to be smoothed out now.

This is something to keep in mind if you have a hard time reaching customer service or a few things don’t work quite right. They may still be trying to iron out all the kinks and learning the best way to help their customers.

Brim can set their own exchange rates

While Brim cards have no foreign exchange fees, they do have the ability to set the rates themselves if they so choose.

For now however, Brim is using Mastercard’s exchange rates. Just keep in mind they can set their own, which could potentially vary from what Mastercard offers.

Welcome bonuses are hard to earn

Though having welcome bonuses up to $500 sounds enticing, it’s important to keep in mind that you’ll have to make a lot of purchases in order to earn the full bonus.

How it works is some of Brim’s partner stores will have bonus rewards when you make your first purchase with them. These will be higher depending on what card you have and add up to either $200, $300, or $500 – but you’d have to take advantage of every single offer to get the full value.

Though possible, this is harder than simply completing a certain amount of purchases in a limited amount of time – the standard welcome bonus practice.

Brim Mastercard

So now, let’s dive into the cards themselves, which generally only vary in:

  • annual fee,
  • earn rates, and
  • insurance coverages.

Let’s start with Brim’s no annual fee offering, the .

You’ll earn a straightforward 1 point for every $1 spent. Plus, for a limited time you can earn up to $200 worth of rewards in first-time bonuses after your first purchases with participating partners.

And you’ll get 5 types of insurance coverages, including the super rare Event Ticket Protector Insurance.

Here’s the details on what it offers:

Pros

  • Get all the great Brim benefits for no annual fee.
  • One of our top no annual fee cards.

Cons

  • Lowest rewards of all Brim cards.
  • Smallest list of insurance.

Eligibility requirements

You need an income requirement of $15,000 personal to qualify for the card.

Related: Top No Fee Credit Cards with 1% Cash Back (or More) On All Purchases

Brim World Mastercard

Next up is the , Brim’s mid-level offering.

You’ll earn 1.5 points for every $1 spent on the first $25,000 in annual spend, and 1 point per $1 on purchases after that.

It’s also got a great welcome bonus – earn up to $300 worth of rewards in one-time bonuses after your first purchases with participating retailers.

As for insurance, it comes with 13 types:

And this card is for an annual fee of $99.

Pros

  • 13 types of insurance for a low annual fee of $99.
  • World Mastercard benefits.

Cons

  • Tiered rewards structure.

Eligibility requirements

You’ll need standard World Mastercard income requirements of either $60,000 personal or $100,000 household.

Brim World Elite Mastercard

Finally, we have Brim’s premium offering – the .

You’ll earn 2 points for every $1 spent with the card on your first $25,000 in annual spend, and earn 1 point per $1 spent after that.

The welcome bonus is hard to beat – earn up to $500 worth of rewards as first-time bonuses after your first purchases with participating retailers.

As for insurance? It’s one of the best packages you can get in Canada, with 15 types of included insurance:

The card does have a high annual fee of $199, but that’s currently waived for the first year.

Pros

  • Brim’s best available regular earn rate.
  • One of the best insurance packages of any credit card.

Cons

  • High annual fee of $199.
  • Tiered rewards structure.

Eligibility requirements

Standard World Elite Mastercard income requirements of either $80,000 personal or $150,000 household are required.

In summary

There’s a lot to love about Brim credit cards. From the easy-to-use rewards and unique perks, it’s not hard to see their appeal.

So what’s our favourite card? Our Genius Rating loves the , which has top level rewards, terrific insurance, and is currently first year free.

But if that annual fee is too much to handle, the is no slouch either. You’ll get access to all the great Brim perks for no annual fee.

What are your thoughts on Brim cards?

Are you interested in applying for one?

Let us know in the comments below.