How to Maximize the Vancity Rewards Program

If you live in British Columbia, chances are you're familiar with Vancity, the province's largest credit union. You might even be a member of its loyalty rewards program, Vancity Rewards.

This free program stands out for its simplicity: You can only earn points by using a Vancity credit card and all redemption options give the same value.

Still, it helps to understand the program's ins and outs. We'll explore the best credit cards, explain how to redeem your points, and compare Vancity Rewards to rewards programs that are available across the country, not just to BC residents.

What is Vancity Rewards?

Vancity, the most popular credit union in British Columbia, operates the Vancity Rewards program. The only way to participate in this free loyalty program is by using a Vancity credit card, but all purchases you make earn you Vancity Rewards points.

You can redeem your points at any time (no waiting for your card's anniversary), and you can put them toward financial products with Vancity, travel, gift cards, and charitable donations. Don't know how you'd like to redeem your points? Don't worry – your points won't expire as long as you keep your credit card account in good standing.

Overview

Currency: Vancity Rewards points

Redemption options: Cash back, travel, gift cards, charitable donations

Pros:

• All Vancity credit cards earn points
• No cap on earning rewards
• No blackout dates or redemption fees for travel redemptions
• Simple program with no complicated redemption requirements
• Supports local environmental and social efforts
• Friendly customer service at local branches

Cons:

• Can't transfer points between rewards programs
• Not as many redemption options as other programs
• Few opportunities for earning bonus points
• Program is only available to BC residents
• No Visa or Amex credit cards participate in the program

What are Vancity Rewards worth?

With Vancity, there are no complicated formulas or hoops to jump through to get the most Vancity Rewards points value. Rest easy, knowing whichever redemption option you choose gives you the same 1 cent per point value.

Cost of reward in $CAD/cost of reward in points x 100 = value in cents per point (CPP).

How to earn Vancity Rewards

Vancity doesn't make it tricky to earn points; all you have to do is use your Vancity Visa credit card to make purchases. The rate of rewards you earn depends on your exact card and what you're buying.

If you're disappointed that there aren't more ways to earn points, keep in mind some Vancity cards have bonus opportunities. For instance, the Vancity business card awards you a 1,000-point bonus if you charge at least $1,000 during a statement period.

Note that some Vancity cards give you a small anniversary bonus each year, and the enviro Vancity Visa Business card gives cardholders 1,000 bonus points when at least $1,000 is charged to the card within one statement cycle.

Although welcome bonuses are rare, Vancity often waives the annual fee for the first year that you have one of their cards.

Best credit cards to use for Choice Privileges hotel stays

How to redeem Vancity Rewards

Vancity gives you the opportunity to redeem points for cash back, travel, charity, and gift cards. You can redeem your points whenever you like. Just call 1-866-661-3377 or log in to the Manage My Visa Card website. Once you're logged in, select "Explore your rewards" to see your Vancity card redemption options.

Cash back

You can choose to get a statement credit if you'd like to receive cash back, but you can also pay for purchases with your points. Here's how it works: log in to My Vancity Rewards and look at your recent transactions. Then, check 1 to 3 transactions you want to pay off with your points and submit the request.

Vancity also allows you to put points toward your mortgage or personal loan. If you don't have debt, the credit union lets you deposit the value of the points into a chequing, savings, investment, or retirement account. Regardless of what you choose, every 100 points equals $1.

Travel

Check out the sleek Vancity Reward travel platform before you book your next flight, hotel, rental car, or vacation package. You can use your points for your trip, and you won't have to worry about blackout dates or booking fees.

If you don't have enough points to cover the entire cost of your trip, you can pay with a combination of cash and points. If you use your Vancity credit card to book the travel, you'll earn double the points!

Charitable contributions

If you're feeling philanthropic, you can give your Vancity Rewards points to a good cause. Log in to your Vancity Rewards account to see the current charities you can support. For instance, you can donate points to the Vancity Humanitarian & Climate Fund or the Vancity Community Foundation.

Gift cards

Gift cards are a handy way to essentially give someone your rewards. You can redeem as few as 2,500 points for a $25 gift card, but you can also redeem 10,000 points for a $100 card (depending on the retailer).

Here are a few of the gift cards you can select:

• Tim Horton's
• Indigo
• Esso
• The Keg
• Canadian Tire
• Roots
• Home Sense

Is the Vancity Rewards program worth it?

If you're already a Vancity credit union member and you have one of their credit cards, there's definitely no harm in cashing in points for your spending. We like the fact that the program is easy to navigate – when you feel like cashing in your points, just decide how you want to redeem them. There's no worrying about choosing a high-value redemption option since they're all worth the same.

That said, if you don't already have a Vancity credit card, you might want to explore other loyalty programs that are available nationwide. These usually have more earning opportunities and bonuses. Plus, the points are worth more, and you often get more redemption options.

Compare with other programs

Although loyalty rewards programs are usually free to join, you probably don't want to juggle multiple programs. Plus, by focusing your spending power on one program, you'll maximize the rewards you can earn.

If you're on the fence about signing up for Vancity Rewards, see how it compares to 2 similar programs: American Express Membership Rewards and Avion Rewards.

FAQ

What is Vancity Rewards?

Vancity Rewards is the rewards program operated by the credit union, Vancity. By making purchases with a Vancity credit card, you earn points that you can redeem for a handful of reward types. Points don't expire if your account stays in good standing.

How do I redeem my Vancity points?

In addition to gift cards and charitable donations, you can book flights, hotels, rental cars, and vacation packages. If you're interested in financial products instead, you can put your points towards your credit card balance, mortgage, or personal loan, or get a deposit into your chequing, savings, or investment account.

How much are Vancity points worth?

Unlike some flexible rewards programs that have variable point values, each Vancity point you earn is worth a flat 1 cent per point, regardless of whether you redeem them for travel, cash back, charitable donations, or gift cards.

Do Vancity points expire?

Vancity reserves the right to cancel your points if your account is not in good standing for more than 180 days. To keep your account in good standing, make your minimum monthly payment along with any past due payments.

What's the best credit card for earning Vancity Rewards?

The Vancity card with the best rewards earn rate is the Vancity enviro Visa Infinite Card, which gives you an average of 1.91% – about 4x higher than that of the no-fee Vancity credit card option.