The Servus Gold Mastercard is a rewards credit card that also comes with a strong insurance package for a reasonable annual fee.

Here's a breakdown of the card, its pros and cons, and a comparison with another similar card.

Pros of the Servus Gold Mastercard

Though the most fruitful feature is its insurance coverage, there are a few other nice perks.

1. Wide variety of insurance coverage

You'll get 10 types of insurance coverage with the Servus Gold Mastercard. This is significantly more than other mid-tier credit cards and rivals some credit cards with higher annual fees.

Other than some basic travel coverage, a couple of rarer highlights include:

• Double the extended warranty coverage compared to nearly all other credit cards (2 years total)
• 15 days of emergency medical coverage for those over 65

It’s fairly uncommon to find a credit card with good travel insurance for seniors – especially one with 2 weeks or more of coverage. But the 2 years of extended warranty (vs. the standard 1 year) is typically reserved for the highest-end credit cards with annual fees that are more than triple what this card has.

2. Earns basic rewards

In terms of rewards, the Servus Gold Mastercard earns 1 point per $1 spent on all purchases. Not game-changing, but not bad either as each point is worth up to 1 cent.

You'll also get a sign-up bonus of 5,000 points if you're approved, which is an easy way to make $50.

Your points won't expire so there’s no rush to cash them out right away. You can redeem them for cash, investments, travel, or merchandise.

3. Profit sharing

Even though there is a $75 annual fee, you'll get 25% of it returned to you through Servus's profit sharing program. This brings it down to $56.25.

Cons of the Servus Gold Mastercard

There are a few areas where this card may not be ideal for you.

1. Only available in Alberta

Servus is one of the largest credit unions in Canada – but you can only apply for this card if you're a resident of Alberta. This puts it out of reach for the majority of Canadians.

2. Must apply in person

You can inquire about the card online but to actually apply for one, you'll need to go into a Servus branch. Bring your ID and employment information or proof of enrollment (for students).

3. $75 annual fee

Even though the return maxes out at 1%, some credit cards with no annual fee match the earn rate of this card. Here, you're really paying for the extras, like the strong insurance package.

Comparison to another insurance-heavy credit card

We'll compare the Servus Gold Mastercard to one of the best travel insurance credit cards in Canada, the BMO AIR MILES World Elite Mastercard, which has 14 types of insurance.

	Servus Gold Mastercard	BMO AIR MILES World Elite Mastercard
Welcome bonus	5,000 points	$150 GeniusCash + Up to 9,000 bonus miles, first year free (terms)
Annual fee	$75	$120
Insurance coverage types	10	14
Other perks	* Profit sharing program knocks 25% off the annual fee	* Annual 25% discount on 1 AIR MILES reward flight booking * Automatic AIR MILES Onyx status * Save up to 7 cents per litre at Shell

Compared to the BMO AIR MILES World Elite Mastercard, the Servus Gold Mastercard is a little lighter on the insurance variety but has a lower annual fee. The coverage amounts it offers, however, are significantly higher. This card doubles the extended warranty, you'll get at least $500 to $1,000 more coverage in different travel coverage types, and you’ll get emergency medical coverage for seniors over 65.

Do you have the Servus Gold Mastercard?

With the Servus Gold Mastercard, you'll get a nice insurance package and some decent rewards for a manageable annual fee.

Do you have this card? Let us know what you think of it by leaving a review below.

FAQ

Does the Servus Gold Mastercard have an annual fee?

Yes, there is an annual fee of $75 per year, but you'll get 25% off the fee through the profit sharing program. This reduces it to $56.25.

Does the Servus Gold Mastercard earn rewards on purchases?

Yes, this card earns 1 point per $1 spent on all purchases. These points are flexible and you can redeem them for cash, investments, travel, or merchandise and don't expire.

Are there any eligibility requirements for the Servus Gold Mastercard?

Though there are no income requirements for the Servus Gold Mastercard, you need to be a resident of Alberta to qualify for this card.