The Laurentian Bank Visa Infinite is a rewards credit card offered by Laurentian Bank, best known for its strong returns and different ways to earn big bonuses, including a snappy referral program.

Here's our review of this challenger bank's big offering and how it compares to some big bank offers.

Pros of the Laurentian Bank Visa Infinite

1. Big welcome bonus

Smaller banks don't usually offer welcome bonuses on their credit cards, but Laurentian bucks the trend here with up to 60,000 points when you spend $6,000 in the first 6 months. With each point worth 1 cent each, this adds up to $600.

2. Referral program for more bonus points

Another rarity for challenger bank cards, the Laurentian Bank Visa Infinite offers a referral bonus of 2,000 points for each friend or family member you refer. This works out to $20 per person, which isn't life-changing, but it's nice to nab a few extra bucks if someone you know was planning to get a card like this anyway.

3. Good rewards earn rate

The Laurentian Bank Visa Infinite earns rewards at a strong pace, matching a lot of other big bank rewards cards in terms of what you'll earn. Here are the details:

• 2 points per $1 spent on gas, groceries, recurring bills, travel, and transportation
• 1 point per $1 spent on everything else

You'll always be getting at least 1% back on your purchases, which is doubled on 5 common or useful categories.

4. Very good insurance

The insurance coverage for this card is a big selling point due to the high number of categories it covers (8). Plus, it includes a rare feature – 15 days of travel insurance for those over 65.

5. Installment plan available

The Laurentian Bank Visa Infinite comes with a buy now pay later plan that can break up purchases totalling over $100 into manageable chunks. This will charge a lower 5.99% interest rate with no credit checks required, allowing you to access larger purchases more easily.

Cons of the Laurentian Bank Visa Infinite

Here are some places where the Laurentian Bank Visa Infinite is lacking compared to its competition.

1. High income requirements

As this is a Visa Infinite card, it has the standard (and higher) income requirements of:

• $60,000 personal
• $100,000 household

This makes it less accessible for some people.

2. High annual fee

If you want all the benefits of this card, you'll have to pay $130 to use it. There is no fee waiver for the first year, either, so be sure that the rewards you earn and perks you take advantage of exceed it.

Comparison to a popular Visa Infinite rewards card

Let's see how this compares to one of the best rewards credit cards in Canada, the MBNA Rewards World Elite Mastercard.

	Laurentian Bank Visa Infinite	MBNA Rewards World Elite Mastercard
Earn rates	* 2 points per $1 spent on gas, groceries, recurring bills, travel, and transportation * 1 point per $1 spent on everything else	* 5 points for every $1 spent on restaurants, groceries, and select recurring bills (up to $50,000 spent annually per category) * 1 point per $1 spent on all other purchases
Welcome bonus	Up to 60,000 points	$100 GeniusCash + 30,000 bonus points (terms)
Number of insurance coverage types	8	12
Other perks	* Referral program that earns 2,000 points per person referred * Installment plans available	* Annual birthday bonus of 10% of your points earned in the past year
Annual fee	$130	$120
Income requirements	$60,000 personal or $100,000 household	$80,000 personal or $150,000 household

When looking strictly in terms of rewards, the MBNA card wins hands down because of the higher rate in which it earns points. The maximum value of each point is also the same as what you'd see with Laurentian, so you'd effectively be getting up to 2.5x the return if you maximize your redemptions.

Insurance is a tougher call since you get better travel accident coverage and more insurance coverage types in general with MBNA, but most of the other insurance coverage categories are more valuable with Laurentian.

In terms of accessibility, MBNA has a slightly lower annual fee but the income requirements to get the card are much higher.

MBNA also has the advantage of GeniusCash, netting you $100 on us if you get approved.

Would you spring for Laurentian's premium credit card option?

Overall, Laurentian offers a decent credit card in the Laurentian Bank Visa Infinite, especially because it has a nice welcome bonus and a few other perks that aren't always available with some of the smaller banks.

If you have this card, let us know what you think of it by leaving a review.

FAQ

Does the Laurentian Bank Visa Infinite come with a welcome bonus?

Yes, you'll earn up to 60,000 Laurentian points after spending $6,000 in the first 6 months.

What perks does the Laurentian Bank Visa Infinite include?

Other than some high-value insurance, the Laurentian Bank Visa Infinite comes with a referral program that earns you points for each friend or family member you refer, plus an installment plan that can break up large purchases.

Does the Laurentian Bank Visa Infinite have an annual fee?

Yes, there is a $130 annual fee that comes with the Laurentian Bank Visa Infinite.