Cash back is one of the easiest ways to earn rewards, and with the Desjardins Cash Back Visa, it’s easier than ever. Its earn rates max out at 2%, all on a credit card with no annual fee.

This makes earning rewards very simple, and as long as you use this card, you’ll knock off a small portion off the price.

Here is an overview of the card, as well as how it compares to other similar cards on the market.

Pros of the Desjardins Cash Back Visa

It’s a basic card, but don’t worry – basic can still be good. Here are 4 things that this card has going for it.

1. Rewarding cash back rates for a no fee card

Of course, we’ll start with what everyone cares for the most – earn rates:

• 2% cash back on restaurants, entertainment, transit, and pre-authorized payments
• 0.5% cash back on all other purchases

With no caps, you’ll see boosted earn rates in 4 popular categories. 2% isn’t anything to sneeze at as well, as some basic cards don’t even have boosted earn rates.

2. A few types of insurance for travel, with mobile device insurance as well

Some basic credit cards don’t even have insurance or are limited to basic purchase protection and extended warranty. Desjardins takes this a little further by offering a simple insurance package. Though it’s only good for 3 days, it’s better than nothing, and a short trip across the border for shopping or touring around can have coverage.

Mobile device insurance used to be rare, but is becoming more common. Whether most people have it or not doesn’t matter – it’s always nice to know that if your phone slots itself in a sewer grate like a piece of bread into a toaster, you will at least have up to $1,000 in coverage for it.

3. Discounts on car rentals

This card also comes with a small discount at rental car services. You’ll be eligible to get up to 15% off at popular rental car services, including:

• Hertz,
• Thrifty, and
• Dollar.

4. No annual fee

It’s always nice to avoid having to pay an annual fee. This card doesn’t have one, meaning that you’ll be able to save money if you don’t use credit cards often or have them as complementary cards for shopping at Costco, for example.

Cons of the Desjardins Cash Back Visa

Nothing is ever perfect in credit card land, and of course, this card can’t be perfect either. Here are some downsides to having this card that you may want to consider.

1. No welcome bonus

Other than being a basic no fee card, there are no sweeteners with this card. Some cards have welcome bonuses to give you a nice boost to get started, but this card is lacking.

A lot of credit cards come with some sort of nice welcome bonus. In the case of cash back credit cards, this is often a boosted earn rate of up to 10%. This card unfortunately doesn’t come with anything, which is a shame.

2. No physical branches outside of Quebec and Ontario

Since this credit union is based out of Quebec, you'll be hard pressed to find a branch outside of La Belle Province. Other than Ontario, there are no physical branches anywhere in Canada.

If you've got a problem and live outside of those provinces, you'll need to rely entirely on online or phone support.

Some people prefer to go with banks or credit unions with physical branches. While Desjardins does have physical branches, they’re only located in the provinces of Quebec and Ontario.

If you require in-person support, you won’t be able to get any if you don’t live in one of the aforementioned provinces.

Comparison to the BMO CashBack Mastercard

Let's compare this card to a well-known and popular no fee cash back card, the BMO CashBack Mastercard.

One popular no fee cash back credit card is the BMO CashBack Mastercard. Here’s how they stack up when put head to head.

	Desjardins Cash Back Visa	BMO CashBack Mastercard
Normal earn rate	* 2% cash back on restaurants, entertainment, transit, and pre-authorized payments * 0.5% cash back on all other purchases	* 3% cash back on groceries (up to $500 per month) * 1% cash back on recurring bill payments (up to $500 per month) * 0.5% cash back on all other purchases
Welcome bonus	No bonus at this time	$20 GeniusCash + 5% cash back for the first 3 months (terms)
Number of insurance types	8	2

Our first point of comparison is the difference between the earn rates. BMO’s contender is ahead purely based on numbers alone, but its spending caps on its boosted earn rates weigh it down like a boat anchor. Especially if you buy groceries on the regular, having to keep your spending under such a small limit can be frustrating.

That said, having a welcome bonus is always a nice thing, and the current bonus offered by the BMO CashBack Mastercard is 5% cash back for the first 3 months, up to $2,500 in spend, which amounts to $175 in total value if you max it out.

FAQ

Does the Desjardins Cash Back Visa have a welcome bonus?

No, there is currently no welcome bonus for this card at the moment.

What kind of insurance coverage does the Desjardins Cash Back Visa have?

This card has 9 types of travel insurance that cover you for up to 3 days out of the country, as well as basic extended warranty and purchase insurance.

What other perks are included with the Desjardins Cash Back Visa?

If you travel, you’ll be happy to know that this card includes rental car discounts of up to 15% at 3 popular providers.