The Meridian Credit Travel Rewards Visa Infinite is geared towards travel benefits for generally more affluent clients. The 3 points/dollar return on foreign purchases more than offsets the 2.5% foreign transaction fee, which is useful if you make a large number of foreign transactions.
Qualification Requirements: Annual income of $60,000 or a household income of $100,000
Annual Fee: $99 – First year free
Interest Rate: 19.50% purchases, 21.99% cash advances (remember, never keep a balance on any credit card – if you need to, you can’t afford it
Earn: 1.5 points per $ spent
- Earn 1.5 points for every $1 of net purchases
- 3 points for every $1 of net purchases in foreign currencies
- Visa infinite Luxury Hotel Collection: worldwide properties, best available rate guarantee, automatic room upgrade, three P.M. check out, complimentary continental breakfast, free in-room Internet, $25 USD food or beverage voucher within the hotel, VIP Guest Status
- Visa infinite Dining Series: available in cities across the country such as Vancouver, Calgary, Toronto, Ottawa or Montreal
- Visa Infinite Wine Country Program: available in Ontario and British Columbia
- Choose from worldwide flight options with over 100 airlines
- Reward yourself with gift cards from top retailers or select from over 1,000 merchandise options
- Visa infinite Concierge 24/7
- Redeem your travel rewards the way you want. Options include: travel (air, cruises), merchandise, event tickets, gift cards
- Insurance coverage includes: Emergency Health Care Coverage (up to age 75), Trip cancellation and Interruption Insurance, Baggage Insurance, Common Carrier Accident Protection, 24/7 Travel Assistance, Auto Rental Collision/Loss Insurance, Intergenerational Insurance Coverage (insurance extends to grandchildren travelling with grandparents), Mobile Device Insurance, Purchase Protection, Extended Warranty, Price Protection Service
- First year free
- 3 points/dollar return on foreign purchases more than offsets the 2.5% foreign transaction fee
- Visa Infinite products are good overall
- Boomer friendly (compared to most other cards): Emergency Health Care Coverage (Maximum number of days of coverage – age 59 or under, 48 days; age 60 to 64, 23 days; age 65 to 75, 15 days; age 76 or over, no coverage)
- Boomer friendly Intergenerational Insurance Coverage (compared to most other cards): Trip cancellation, lost baggage, emergency health care coverage and accident protection insurances extends to grandchildren travelling with grandparents
- In the event of the death of the Primary Cardholder, Points earned in the Points account may be redeemed by the beneficiary (this is not always the case)
- Most of the insurances are provided by Desjardins, a reliable company with a decent record of paying claims
- Just an OK rate of return for travel (1 point = ~1 cent)
- Cons are mostly associated with what the card does not offer, e.g., no sign up bonus or anniversary bonus, no Hotel/Motel Burglary Insurance, no lounge pass… but the haves may outweigh the have nots…
- Baggage coverage (Maximum number of days of coverage: age 59 or under, 48 days; age 60 to 64, 23 days; age 65 or over, 15 days). We guess that Boomers get less coverage than others because statistically they travel more than younger people and have more expensive stuff, so are at a greater risk of baggage issues.
- Some of the perks such as the Visa Infinite Dining Series and Wine Country Program: available in Ontario and British Columbia only.
BoomerTraveller’s reaction to this card:
Always read the fine print before make before you make a financial decision …
If you have experience with this card, please share your observations.
You will find more no-foreign-transaction-fee cards here.