Most credit union credit cards participate in the Flex Rewards Program, a loyalty rewards program operated by Collabria. It's one of the simplest rewards programs to use: Just make purchases with your credit card to earn reward points.
You can redeem your Flex Rewards points whenever you like without having to worry that they'll expire. Although the points offer consistent value, there are a few ways to maximize the value of every point.
This article explains the finer details of the Flex Rewards program, including which are the best redemption options and the top cards to help you earn.
Key Takeaways
- Collabria issues the vast majority of credit cards from Canadian credit unions, and most participate in the Flex Rewards Program.
- The only way to earn Flex Rewards is by using an eligible credit card.
- You can redeem points for flights, hotels, merchandise, entertainment, gift cards, and donations, for an average 0.75 CPP.
- The best value comes from redeeming for gift cards, which provides an average value of 0.9 CPP.
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What are Flex Rewards?
Collabria is the financial institution that issues most credit cards for Canadian credit unions, and Collabria's credit card rewards program is called the Flex Rewards Program.
To participate, just use your eligible credit card to make purchases, pay bills, book travel, etc. You'll earn points at a rate specified by your individual credit card. You can then redeem them for travel, merchandise, gift cards, and more.
Overview
Currency: Points
Redemption options: Flights, hotels, merchandise, gift cards, charitable donations, entertainment, cash rewards
Pros:
- One of the biggest reward programs used by credit unions
- No membership tiers to understand
- Points provide consistent value
- Flexible redemption options
- Program support available 24/7
- Points worth as much as 0.95 cents per point
- Points don't expire
Cons:
- Limited travel redemption options
- Can only earn points with credit cards
- Points cannot be pooled with other members
- Fairly low cent-per-point value compared with similar programs
What are Flex Rewards worth?
Flex Rewards points are worth an average of 0.75 cents per point (CPP). However, some redemption options offer less value, so it's important to pay attention before cashing in your points.
To help you decide if a redemption opportunity is worth it, we analyzed the average value you'll get per point for each option. Here's the formula we used:
Value of reward in CAD / cost of reward in points x 100 = value in cents per point (CPP)
| Redemption Option | Categories | Average Cents-Per-Point Value |
|---|---|---|
| Gift cards | * Restaurants * Home improvement * Fuel * Book stores * Clothing | 0.9 CPP |
| Merchandise | * Electronics * Home appliances * Perfume * Clothing * Sports gear | 0.84 CPP |
| Hotel stays | * Flex Rewards travel platform | 0.7 CPP |
| Flights | * Flex Rewards travel platform | 0.69 CPP |
| Entertainment | * Concerts * Sporting events * Theatre tickets * Amusement parks * Rodeos * Motorsports | 0.64 CPP |
Note: All calculations include taxes and fees. See cash back cards for specific cash rewards details.
Flex Rewards calculator
If you're not sure how to use your points and you want to get the most value from them, play around with our Flex Rewards calculator.
Simply enter the number of points you want to redeem, and you'll instantly see the value of each option, along with our recommendations.
| Redemption Option | Point Value | Total Value |
|---|---|---|
| Gift Cards | 0.9 cents | $90 |
| Merchandise | 0.84 cents | $84 |
| Hotels | 0.7 cents | $70 |
| Flights | 0.69 cents | $69 |
| Entertainment | 0.64 cents | $64 |
How to earn Flex Rewards
Flex Rewards keeps things simple: You can only earn points by using participating Collabria credit cards. Collabria offers many card types through different credit unions, including rewards cards, cash back cards, and more.
These are a few of the top options:
Best credit cards for earning Flex Rewards
| Card Name | Annual Fee | Rewards | Welcome Bonus | Learn More |
|---|---|---|---|---|
| 1st Choice Savings Cash Back World Elite® Mastercard | $120 | * 4 points per $1 spent on groceries and transit * 2 points per $1 spent on recurring bills, streaming, and dining * 1 point per $1 spent on all other purchases | Up to 35,000 bonus points (terms) | Learn more |
| 1st Choice Savings Cash Back Mastercard® | $0 | * 1 point per $1 spent on groceries, gas, transit, select recurring bills, and streaming services, up to $5,000 spent per month on each. * 0.5 points per $1 spent on all other purchases | Learn more | |
| 1st Choice Savings World® Mastercard | $120 | * 3 points per $1 spent on groceries * 2 points per $1 spent on dining and entertainment * 1 point per $1 spent on all other purchases | Up to 35,000 bonus points (terms) | Learn more |
If 1st Choice isn't available in your province, you can get nearly identical credit cards from other Collabria credit card issuers like Alterna Savings, Provincial Credit Union, Mainstreet Credit Union, and more.
1st Choice Savings Cash Back World Elite Mastercard
The 1st Choice Savings Cash Back World Elite Mastercard has one of the highest Flex Rewards earn rates of any participating credit card. You'll earn significant points on groceries and sustainable transit, offering you opportunities to save on some of your biggest recurring expenses and be rewarded for your efforts to protect the planet.
Along with the usual, excellent World Elite Mastercard benefits, this one has a sweet balance transfer promo: 9 months of 0% interest, with a reasonable 3% transfer fee.
Pros:
- 6 types of insurance included
- Balance transfer offer
- Includes mobile device insurance
Cons:
- High income requirements
1st Choice Savings Cash Back Mastercard
If you don't think the previous card is worth its annual fee, consider the 1st Choice Savings Cash Back Mastercard. It doesn't earn quite as many points as its higher-priced counterpart, but still has a decent 0.69% average earn rate, 3 types of insurance – including mobile device coverage – and no annual fee at all.
Cardholders also get benefits and discounts at Hertz, Thrifty, and Dollar car rental agencies, from 1–15% off the base rental rate. These features make for a solid no-fee, no-income-requirement card.
Pros:
- Mobile device insurance
- No income requirements
- Supplemental cards are free
Cons:
- Low base earn rate
1st Choice Savings World Mastercard
If you're interested in high earn rates but don't meet the income requirements of the 1st Choice Savings Cash Back World Elite Mastercard, check out the 1st Choice Savings World Mastercard. At 3 points per $1 spent, cardholders get decent value on their grocery purchases.
Surprisingly, this card has a better insurance package than the 1st Choice Savings Cash Back World Elite Mastercard – it includes 9 types of coverage. This includes mobile device insurance, emergency medical, additional emergency medical for ages 65+, and rental car coverage – and valuable peace of mind for travellers.
Pros:
- Excellent insurance package
- 10 days of emergency medical coverage (age 65+)
- Rental car perks and discounts
Cons:
- High annual fee
How to redeem Flex Rewards
Once you've accumulated some Flex Rewards points, decide how you'd like to redeem them out of these options:
As you saw above, the value of a Flex Point doesn't vary a lot, but if you're redeeming thousands of points, that little difference can really add up.
Redeem for gift cards
Average value: 0.9 CPP
Redeeming your rewards for gift cards offers the best value for your money. Log in to your Flex Rewards account and choose a gift card from almost 40 merchants. Then, decide whether you'd like a $25, $50, or $100 gift card.
Keep in mind that choosing the $100 denomination gives you the maximum value for your points – 0.95 CPP.
Redeem for merchandise
Average value: 0.84 CPP
To redeem your points from the comfort of your home, pop onto the Flex Rewards shopping platform. Unlike most cash back shopping sites whose products vary considerably in value, Flex Rewards gives a flat 0.84 CPP fixed rate for every merchandise redemption option.
So, whether you're buying a mini-drone or a Dyson cordless vacuum, rest assured that you're not losing out on the value of your points.
Redeem for hotel stays
Average value: 0.7 CPP
Head to the Flex Rewards travel platform to search for hotels around the world. Although point value varies by destination, dates of stay, and the type of hotel room you book, our research showed consistent value across nearly every stay we chose.
Our lowest redemption option, for a 1-night stay at The Lord Nelson Hotel & Suites in a classic King room, was only worth 0.6 CPP, but the best we found, 1 night at the Fairmont Chateau Laurier, was worth 0.75 CPP.
Redeem for flights
Average value: 0.69 CPP
You'll also access the Flex Rewards Travel platform if you want to book flights with your points. Just enter your travel details and select flights from dozens of airlines. You'll see how many points are required for each available fare, but you can pay with a combination of points and cash.
Again, the flights offered pretty consistent value, but if you're getting significantly under 0.69 CPP, try adjusting your search.
Redeem for entertainment
Average value: 0.64 CPP
You don't have to travel far to enjoy your Flex Rewards points. Check out the local experiences you can book, like concerts, rodeos, amusement park tickets, theatre performances, motorsports, and much more. Some events have lower value than others, but some are worth as much as 0.76 CPP.
Of course, bigger cities have more entertainment options than less-populated areas, but the platform is worth checking out.
Redeem for cash rewards
Average value: Varies
If you have a Collabria cash back credit card, you likely have the option of using your points for a statement credit, or getting the value of the points deposited into your chequing or savings account.
Since the value of your points depends on your exact credit card (and card issuer), we weren't able to determine the rewards value with this option.
Redeem for charitable donations
Average value: Varies
As long as you have at least 2,500 Flex Rewards points, you can donate them to CanadaHelps.org through the Flex Rewards website.
Once you submit your donation, you'll get an electronic gift card that you can then use to donate directly to one of 86,000 charities across Canada.
Is Flex Rewards worth it?
As far as credit card reward programs go, Flex Rewards is one of the easiest to use, partly because it has no complicated earning structure or elite membership tiers to track.
If you bank exclusively with a credit union, Flex Rewards might be the only rewards program available to you. However, if you want to participate in a high-value reward program, check out these options, all of which have points worth 2 cents or more:
FAQ
What is Flex Rewards?
Flex Rewards is the credit card reward program operated by Collabria, the nation's largest issuer of credit union credit cards. With participating cards, you earn points for all your purchases that you can redeem for rewards like flights, hotel stays, and merchandise.
How does the Collabria Flex Rewards Program work?
The program is pretty straightforward: eligible Collabria credit cardholders earn points at different rates each time they use their card. You can later redeem these points for travel, merchandise, experiences, gift cards, and charitable donations – visit the Flex Rewards home page to see all your options.
Which credit cards earn Flex Rewards from Collabria?
Collabria issues many rewards credit cards through various Canadian credit unions, and they earn Flex Rewards. If you have a rewards or cash back card issued by Collabria, it's all but guaranteed that you'll earn Flex Rewards. Some of the best Collabria cards come from 1st Choice Savings Credit Union and Steinbach Credit Union.
How do I redeem my Collabria points?
To redeem points collected with your Collabria-issued credit card, head to the Flex Rewards website and log in to your account. From there, you can select event tickets, travel, gift cards, cash rewards, merchandise, and charitable donation opportunities. Scroll through and decide what you'd like to redeem your points for.
How much are Flex points worth?
Flex Rewards points are worth an average of 0.75 cents per point, but the best redemption option (a $100 gift card) boosts your point value to 0.95 cents per point. It might not seem like much, but if you're cashing in thousands of points, it adds up fast.
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