Brim Financial Mastercard Review

The Brim Financial Mastercard allows you to earn points for recurring visits to retailers and redeem them for anything you can buy with a Mastercard. You can also take advantage of mobile insurance, detailed budget tracking, zero-interest financing plans and 0% foreign transaction fees. Read on to find out if the Brim Financial Mastercard is right for you.

30-second take

• Get this card if you visit the same shops and stores regularly and you’re interested in a credit card provider that thinks outside of the box.

• Choose something else if you’re looking for a targeted rewards program or you’re looking for more conventional benefits.

• There is no minimum annual income specified on the website.

The basics

The Brim Financial Mastercard is structured differently from many other Canadian credit cards in that it rewards customer loyalty by awarding more points for recurring visits. For example, if you have a favorite coffee shop, you could earn 3 points per dollar spent on your first visit, 5 points on your second, 10 points on your fifth, and so on. Some locations aren’t included in the BRIM marketplace, and so you won’t be able to double or triple your points at these locationsBrim Financial‘s redemption rate is 1 point = $0.01 dollars, so you need to spend $100 to earn one dollar in rewards or cashback. That being said, if you earn 10 points on the dollar at your most visited retailers, you’ll only end up spending $10 to pocket a dollar in savings. It really depends on your purchase history, and how much you’re able to take advantage of “surge” offers.

Brim Financial cards also offer a hybrid mix of cashback, travel and rewards points so you’re not boxed in when it comes time to collect. There are three different cards on offer: Brim Financial, Brim World and Brim World Elite but there’s little difference between them, other than the base rate of points on offer. The Brim World card is fee-free and offers one point per dollar as a baseline. The Brim World and Brim World Elite cards offer a higher return.

The perks

• Zero fees. Maximize your savings with no annual fee on the most basic Brim Mastercard.
• Maximum returns. Get more points for shopping at the places you frequent most.
• Unrestricted redemption. Redeem points on just about anything that you can buy with a Mastercard – whether it be a flight, a new cell phone or winter tires for your car.
• 0% foreign transaction fees. Avoid paying extra fees when you spend money overseas.
• Free global Wi-Fi. Get access to over 1 million Boingo hotspots around the world.
• Insurance coverage. Protect the things that matter most with mobile phone, event ticket and travel insurance.
• Online portal. Track your spending history and be warned of fraudulent activity through the online app and budgeting software.
• Zero-interest installment plan. Finance your next large purchase at zero percent interest.
• Contactless payments. You can integrate your card with mobile wallets including Apple, Google, Samsung, Fitbit and Garmin Pay.

What to watch out for

• Low point value. Points are only worth $0.01 dollars so you have to spend $100 to earn one dollar in return (but there are opportunities to earn accelerated rewards)
• Extras cost more. If you want more points or comprehensive travel insurance, for example, you’ll have to opt for a card with an annual fee.
• Unbanked credit card. Brim Financial is relatively unknown in the credit card world and isn’t affiliated with a bank and can’t be linked to your current bank account, which means you’ll need to log into a separate platform to access your balance and redeem points.

What should I know before I apply

• Eligibility requirements

  To apply for the Brim Financial Mastercard you need to:

  • Be a Canadian citizen or permanent resident who is at least 18 years old.

• Required documents and information

  • Your name, residential status and contact information.
  • Your social insurance number and date of birth.
  • Your email address and phone number.

How to apply

1. Head Brim Financial‘s website and click “Apply Now” to start your Brim Financial Mastercard application.
2. Complete the one minute application with details that include your name, email address, social insurance number and birth date.
3. Review and submit your application.

Bottom line

The Brim Financial Mastercard offers more points from the places you shop the most. Rewards are flexible and can be redeemed for cashback, or to purchase items from Brim Financial‘s online catalogue. You can also take advantage of the wide range of innovative benefits on offer, including free WiFi, zero-interest financing and online budgeting tools.

Just be aware that this card and its online platform are still being tested, so many features aren’t yet being offered and it can take longer for your card to arrive after application.

Frequently asked questions about the Brim FinancialMastercard

• How do I check my points balance?

  Log in to your account with Brim Financial and navigate to the rewards page. You’ll be able to see your points balance once on this page.

• Does Brim Financial offer a welcome bonus offer on this card?

  No. There’s no welcome bonus offer, but they do offer more points on purchases made at the stores you shop at most often.

• Is there a limit on how much you can earn with Brim?

  No. There are no caps on how many points you can earn.