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 $1 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).
- 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.