Desjardins offers a low interest credit card that can hold its own against a lot of offers from the big banks with the Desjardins Flexi Visa. With interest rates as low as 10.9%, you can pay around half of the interest rates you can expect on a standard credit card.

Let's take a more detailed look at the interest rates you'll be facing, as well as a comparison to one of the better low interest credit cards in Canada.

Pros of the Desjardins Flexi Visa

The Desjardins Flexi Visa is a very basic credit card with one thing it specializes in, but there is a little more to love about it than that.

1. Low interest rates across the board

When you think about the average interest rates on credit cards in Canada, you're probably thinking of a number that hovers around the 20% mark. But with this card, you'll see low interest rates in every category. For purchases, it's nearly half of the average at 10.9%. And for both cash advances and balance transfers, you'll see a rate of 12.9%.

Of course, we don't recommend carrying a balance or using cash advances other than in emergencies, but having this card can save you a fair bit on interest rates until you're back on track financially.

2. Includes mobile device insurance

Though the insurance coverage for this card is sparse compared to some of the big hitters out there, the one bonus insurance type is a good one. The Desjardins Flexi Visa offers mobile device insurance, meaning you'll have up to $1,000 in coverage for loss, theft, accidental damage, or mechanical failure for any mobile device you buy using this card.

3. No annual fee

Since this card doesn't earn any rewards and is mainly useful as a low interest option, one would assume there'd be no annual fee. And in this case, there are no k-drama level plot twists – the annual fee is a whopping $0.

4. Discounts on car rentals

Planning a trip to LA? Don't do what the writer of this page did and try to cheap out by taking their horrible transit system. Rent a car, and be sure to have a card like this in your wallet when you do.

With up to 15% off at Hertz, Thrifty, and Dollar, getting a discount on a rental car will save you money and sanity by keeping you away from the slow trains, late buses, and less-than-appealing stenches you'd encounter on transit.

Cons of the Desjardins Flexi Visa

Now that you know you can save some money on interest charges, here are some things you can't do with the card.

1. No rewards

Here's the big glaring problem with this card. As much as you can save money on interest, you won't really be able to make any. Lots of no fee credit cards in Canada have some sort of rewards points you can earn or a sliver of cash back that you can slowly start to collect.

But in the case of the Desjardins Flexi Visa, you won't get zilch.

2. No promos or welcome bonuses

We won't dive into detail when we say there's no welcome bonus points or an increased cash back earn rate on this card that…well, doesn't have any earn rates.

But in terms of balance transfers, some cards have a promotional rate that knocks down the amount you have to pay in terms of interest even further. Take the MBNA True Line Mastercard. It has a promotional balance transfer rate of 0% for the first 12 months.

If the Desjardins Flexi Visa had that, it'd definitely be in contention for the best balance transfer credit card in Canada.

3. No physical branches outside of Quebec and Ontario

If you're the type of person who likes to go in person to solve any issues, this may be a point of friction if you don't live in Ontario or Quebec. There are no physical branches outside of those 2 provinces, so that may be a minor inconvenience.

Comparison to the MBNA True Line Mastercard

Want to see how this stacks up to one of the better low interest credit cards in Canada? Here's a side-by-side chart for an easy comparison:

	Desjardins Flexi Visa	MBNA True Line Mastercard
Purchase interest rate	10.9%	12.99%
Balance transfer rate	12.9%	17.99%
Cash advance rate	12.9%	24.99%
Balance transfer promo	N/A	0% for the first 12 months
Special features not had by other card	* Insurance, including mobile device insurance * Save up to 25% off rentals at participating Hertz, Thrifty, and Dollar car rental locations	* Best balance transfer offer in Canada * $135 GeniusCash

Cash advances easily goes to the Desjardins Flexi Visa, and purchase interest does as well, but not by such a wide margin. But speaking of winning by a wide margin, no other card in Canada can compare with the MBNA True Line Mastercard when it comes to balance transfers.

So in terms of interest alone, it's 2 - 1 for Desjardins, but the balance transfer category is such a massive difference and more likely to be used by consumers than cash advances.

Desjardins wins in terms of other perks as well, sneaking in a small smattering of insurance and car rental discounts.

But in terms of an immediate bonus (other than the balance transfer offer), we've got a little add-on for the MBNA option – we're offering $135 in GeniusCash on approval. In such a tight race, it may make the decision process easier.

FAQ

What perks are included with the Desjardins Cash Back World Elite Mastercard?

This card comes with discounts for some rental car companies, including Hertz, Thrifty, and Dollar. It also comes with mobile device insurance.

Does the Desjardins Cash Back World Elite Mastercard earn rewards?

No, it's a low interest credit card, and because of its focus in this area, there are no rewards to be earned in terms of points or cash back.

Is there a promotional welcome offer for balance transfers with the Desjardins Cash Back World Elite Mastercard?

No, there are no welcome bonuses with the Desjardins Cash Back World Elite Mastercard at this time.