Pros & cons
Pros
- 2% cash back on groceries.
- No annual fee.
Cons
- Only earns 0.5% cash back on other purchases.
- Cannot apply for this card online.
- Limited insurance included.
Your rewards
How you earn rewards
Each card earns rewards differently. Part of choosing your card is deciding what type of rewards you want to get. With ManulifeMONEY+ Visa Platinum, here's how you earn rewards:
- 2% cash back on groceries
- 0.5% cash back on all other purchases
For all reward details click here.
How much your rewards are worth
The dollar value of your rewards depends on the specific rewards program ‒ and what you choose to redeem your points for. For ManulifeMONEY+ Visa Platinum in particular, if you spend $2,000 per month, here's our estimated annual rewards earned depending on which reward you choose:
| Statement credits | $183 |
Calculating your annual rewards
$24,000 annual spending x 0.76% return on spending = $183 annual rewards
$183 annual rewards − $0.00 annual fee = $183 net annual rewards
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1x Award Winner
Details and eligibility
- Estimated Credit Score
- 760 - 900
- Personal Income
- N/A
- Household Income
- N/A
- Annual Fee
- $0.00
- Extra Card Fee
- $0
- Card type
- Credit
- Purchase
- 19.99%
- Cash Advance
- 22.99%
- Balance Transfer
- 22.99%
- Balance Transfer
- 1.99%
- Transfer Term
- 6 months
Insurance coverage
- Extended Warranty
- 1 year
- Purchase Protection
- 90 days
- Travel Accident
- $500,000
Please review your insurance certificate for details, exclusions and limitations of your coverage, terms and conditions apply.
Learn more about the value of credit card insurance coverage.
Genius Rating
ManulifeMONEY+ Visa Platinum's 2.1 Genius Rating is based on the weighted average of the following scores:
Methodology
All scores are produced by our math-based rating algorithm that takes into account over 126 credit card features.
Top cards from Visa
GC: $150
ManulifeMONEY+ Visa Platinum review
The ManulifeMONEY+ Visa Platinum is a mid-tier cash back credit card offered by Manulife. It offers up to 2% on purchases and some basic insurance for no annual fee.
Here's a breakdown of where this card excels, some areas where it could be improved, and a comparison with another no fee cash back credit card in Canada.
Pros of the ManulifeMONEY+ Visa Platinum
Here are some areas where the ManulifeMONEY+ Visa Platinum shines.
1. Boosted earn rates at grocery stores
The ManulifeMONEY+ Visa Platinum will earn you 2% when buying groceries, which is a major benefit for a no fee credit card. And since just about everyone grocery shops regularly, it’s something that most cardholders will find attractive.
2. Excellent balance transfer offer
A balance transfer is when you can move an existing balance from a credit card with a high interest rate (often around 20% in Canada) to one with a special lower interest rate. In the case of the ManulifeMONEY+ Visa Platinum, you'll get an outstanding rate of 1.99% for the first 6 months. This can save you a ton of money on interest while you work to pay off that debt.
3. Basic insurance included
Because this card is from Manulife, most people would expect some level of credit card insurance. And of course, it offers a bit more than average.
Aside from the standard purchase protection and extended warranty, this card includes $500,000 in travel accident coverage for extra peace of mind when you’re abroad.
4. No annual fee
Extra benefits are great, but it’s always nice when you don’t have to worry about spending enough to justify the annual fee. This card has no fee, so even if you don't use it often, you won't lose any sleep over having it sitting in your wallet.
Cons of the ManulifeMONEY+ Visa Platinum
Now, let's get to some areas where the ManulifeMONEY+ Visa Platinum is lacking.
1. Low everyday earn rate
The boosted 2% earn rate on groceries is definitely a big plus, but your earnings on everything else is limited to 0.5%. Some other no fee cash back cards will at least get you 1% back.
2. No welcome bonus
A lot of the big bank credit cards have a welcome bonus of some kind but the ManulifeMONEY+ Visa Platinum doesn't. It's not the end of the world, but having a boosted earn rate for your cash back for a little while is never a bad thing.
3. Cannot apply online
You can only apply for a credit card from Manulife by calling their application line at 1-844-859-4516.
Comparison to the best no fee cash back cards
Let's put this card head to head with 2 popular no fee cash back credit cards, the BMO CashBack Mastercard and the Tangerine Money-Back Credit Card.
| ManulifeMONEY+ Visa Platinum | BMO CashBack Mastercard | Tangerine Money-Back Credit Card | |
|---|---|---|---|
| Earn rates | * 2% cash back on groceries * 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 | * 2% cash back on purchases in up to 3 Money-Back Categories * 0.5% cash back on all other purchases |
| Welcome bonus | None |  $20 GeniusCash + 5% cash back for the first 3 months (terms) | $125 GeniusCash + 10% extra cash back for the first 2 months (terms) |
| Number of insurance coverage types | 3 | 2 | 2 |
| Other perks | * Balance transfer promo of 1.99% for the first 6 months | * Balance transfer promo of 0.99% for the first 9 months * 25% off at National Car Rental and Alamo Rent A Car | * Balance transfer promo of 1.95% for the first 6 months * Choose up to 3 boosted cash back categories |
These cards actually stack up against each other pretty evenly. All 3 have comparable balance transfer offers (though the BMO CashBack Mastercard comes out on top here), while the cash back earn rates depend on what you're looking for.
BMO has the best, with up to 3% back – but you could be limited by the spending caps, which will bump every penny above that to 0.5%, the base earn rate for all 3 of these cards.
The best offer from Tangerine is better overall as you can choose up to 3 categories of boosted spending with no major caps to worry about. Manulife only has an edge in that you get travel accident coverage. No other card here offers anything more than the basic purchase protection and extended warranty.
Would you get Manulife's cash back credit card?
Do you have Manulife’s cash back credit card? We want to hear what you think of it. Leave a review below!
FAQ
What sets the ManulifeMONEY+ Visa Platinum apart from other no fee cash back cards?
Compared to other no fee cash back cards, the ManulifeMONEY+ Visa Platinum comes with additional travel accident insurance coverage for no annual fee. Most other cards only include purchase protection and extended warranty on purchases.
What perks does the ManulifeMONEY+ Visa Platinum come with?
Aside from the extra insurance, this card also comes with a balance transfer offer of 1.99% for the first 6 months (with a 3% transfer fee).
Does the ManulifeMONEY+ Visa Platinum have an annual fee?
No, there is no annual fee with this card.
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User review
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Zero customer service. I stopped using the card over a year ago and have requested statements on multiple occasions but never received any. When I call in the 1-800 number the customer service person was rude and tired. Absolutely brutal.
