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Best Laurentian Bank Credit Cards

Best Laurentian Bank credit cards

Cory Santos

By Cory Santos

🗓️

Updated: December 02, 2024

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Unlock a world of impressive welcome bonuses and exciting everyday rewards with a credit card from Laurentian Bank

Laurentian Bank may not be the biggest bank in Canada, but its credit card offerings are punching well above its weight. Beyond big bonuses, Laurentian credit cards provide competitive rates, decent insurance protections and lucrative rewards on the sorts of purchases Canadians make daily.

  • Why you can trust Money.ca’s Laurentian Bank card picks

    +

    Money.ca rates all credit cards on a numeric scale of 1 to 5 stars, with 1 being the lowest and 5 the highest rating, respectively. Money.ca’s proprietary scoring formulas break down the confusing language, complex points, rewards and earn rates to give you the real data that caters to your needs first, not ours.

    Our partnerships have no impact on our ratings, which are solely determined by the merits of each card. To learn more about how we researched and ranked these cards, read our full credit card review methodology.

Best overall

Best Laurentian credit card overall

Laurentian Bank Visa Infinite*

4.0

up to $890

Welcome offer

Good

Suggested credit score

Earn up to $890 worth of points, plus get a first and second year annual fee rebate.

Pros

  • Waived annual fee first year

  • Generous signup bonus worth up to $890

  • Unlimited 1X points on all purchases

  • Flexible point redemption options

  • No minimum value for point redemption

  • Comprehensive insurance protections

  • Promotional 2.99% balance transfer APR with for balances of at least $400 that are transferred within the first 9 months

Cons

  • Limited eligibility: only available to Alberta residents

  • Income requirement

  • Expensive annual fee

  • High purchase APR

  • High spend to earn the signup bonus

Eligibility

Recommended Credit Score

Good

Required Annual Personal Income

$60,000

Required Annual Household Income

$100,000

Pros

  • Waived annual fee first year

  • Generous signup bonus worth up to $890

  • Unlimited 1X points on all purchases

  • Flexible point redemption options

  • No minimum value for point redemption

  • Comprehensive insurance protections

  • Promotional 2.99% balance transfer APR with for balances of at least $400 that are transferred within the first 9 months

Cons

  • Limited eligibility: only available to Alberta residents

  • Income requirement

  • Expensive annual fee

  • High purchase APR

  • High spend to earn the signup bonus

Eligibility

Recommended Credit Score

Good

Required Annual Personal Income

$60,000

Required Annual Household Income

$100,000

points on gas, groceries, travel and transit

2

points on recurring payments

2

point on all other purchases

1

Purchase APR

20.99%

Balance Transfer Rate

21.99%

Cash Advance APR

22.99%

Annual Fee

$130

Foreign Transaction Fee

2.5%

The Laurentian Bank Visa Infinite* Card is the bank’s heavy hitter travel card with a $130 annual fee. And, while that fee isn’t huge when compared to cards like the TD Aeroplan Visa Infinite Privilege or the Platinum Card from American Express, it’s still a $260 expense, should you plan to hold the card for at least two years. Fortunately, Laurentian Bank waives the $130 annual fee for each of your first two years of card membership.

Even better, that annual fee waiver is joined with up to $890 in welcome bonus offers, just for meeting a series of spending and account milestones. While this sounds intimidating, don’t worry — you won’t need to shell out more than $1,000 in spending per month to meet that target. The administrative milestones are more like tasks (adding authorized users, setting up a pre-authorized payment, etc.) that aren’t daunting, meaning these are rewards you can actually earn!

Beyond the bonuses, the Laurentian Visa Infinite* Card earns 2 points on gas, groceries, travel and transit and 2 points on recurring payments. It also offers a flat-rate 1x back on everything else and a decent amount of travel insurance coverage for the modest (waived) annual fee. What’s not to like?

Best cash back

Best Laurentian credit card for cash back

Laurentian Bank Visa* Cashback Card

3.0

Good

Suggested credit score

to receive the latest news, tips and offers by email

Eligibility

Recommended Credit Score

Good

Eligibility

Recommended Credit Score

Good

Variable APR

20.99% - 20.99%

Balance Transfer Rate

21.99%

Cash Advance APR

22.99% - 22.99%

Annual Fee

$65

Foreign Transaction Fee

2.5%

The Laurentian Bank Visa Cashback Card may not be the first card you think of when it comes to lucrative cash back rewards, but it more than holds its own in a crowded marketplace. The card earns an impressive 2% back on gas, grocery and recurring payments and a flat-rate 1% back on everything else. Those rewards are pretty decent for the card’s $65 annual fee, but Laurentian Bank ups the value by waiving the annual fee for not one, but two years – a $130 value right off the bat.

But there’s even more up-front value to love, namely up to $590 in bonus cash back based on modest spending targets and a host of basic account setup tasks (with those tasks worth a whopping $170 on their own!).

Best low APR

Best Laurentian credit card for low APR

Laurentian Bank Visa* Reduced Rate

3.5

up to $210 in value†

Welcome offer

Good

Suggested credit score

Earn up to $210 worth of points, plus 0.99% interest for 6 months on a balance transfer.

Pros

  • Low, manageable annual fee

  • Welcome bonus offers up to 18,000 points in the first year plus a second-year annual fee waiver

  • 0.99% interest for 6 months on balance transfers

Cons

  • No ongoing rewards outside of the welcome offer

  • No insurance coverage

Eligibility

Recommended Credit Score

Good

Pros

  • Low, manageable annual fee

  • Welcome bonus offers up to 18,000 points in the first year plus a second-year annual fee waiver

  • 0.99% interest for 6 months on balance transfers

Cons

  • No ongoing rewards outside of the welcome offer

  • No insurance coverage

Eligibility

Recommended Credit Score

Good

back in points on special merchant offers

up to 15%

Balance Transfer Rate

12.49%

Cash Advance APR

13.99%

Annual Fee

$30

Foreign Transaction Fee

2.5%

The Laurentian Bank Visa* Reduced Rate Card is an intriguing low rate card with a modest $30 annual fee. What makes the card so unique isn’t the great low APR on purchases (12.49%) or cash advances (13.99%), but rather the opportunity to earn reward points while still getting those great interest rates.

The Reduced Rate Visa comes with a welcome bonus worth up to 8,000 points:

  • No annual fee for the second year when you spend $8,000 within the first year after activating the card.

With regular use, cardholders can earn additional Laurentian Bank rewards points when shopping with inCard offers.

And Laurentian Bank waives the $30 annual fee for your second year. Sure, it’s not the first and second year like some other cards, but it’s still a $30 savings if you plan to keep the card for the long term.

Best no annual fee

Best no annual fee Laurentian credit card

Laurentian Bank Visa* Reward Me

3.0

Good

Suggested credit score

to receive the latest news, tips and offers by email

Eligibility

Recommended Credit Score

Good

Eligibility

Recommended Credit Score

Good

Variable APR

20.99% - 20.99%

Balance Transfer Rate

21.99%

Cash Advance APR

22.99% - 22.99%

Annual Fee

$0

Foreign Transaction Fee

2.5%

The Laurentian Bank Visa* Reward Me Card is the bank’s no fee option, offering basic rewards and a generous welcome bonus for a $0 annual fee. The rewards are pretty straightforward:

  • Earn 1x on gas and groceries
  • Earn 1x on recurring payments
  • Earn 0.5x on all other purchases

But what makes the no fee rewards so great is Laurentian’s generous welcome offers. With the Rewards Me Visa, that welcome bonus is valued at up to $200. Plus, there’s even a modest $20 points bonus for making a first purchase.

Best business

Best Laurentian credit card for businesses

Laurentian offers two business credit cards: The Laurentian Bank Visa* Business Cashback and the Laurentian Bank Visa* Business Rewards cards, but for our money, the cash back option is your best bet. Sure, the card has a higher annual fee ($110 vs. $20 for the Business Rewards Card), but it provides much more lucrative rewards for a company that plans to put some spending on that card.

The Laurentian Bank Visa* Business Cashback Card earns 0.75% on the first $3,000 in eligible purchases, with that cash back rate dipping to 0.50% on any amount above $3,000 in eligible purchases. That may not sound like a lot, but considering that the Intuit data shows that the average Canadian small business places around $32,000 per year on a business card, that could total over $2,000 in annual savings.

What is Laurentian Bank?

What is Laurentian Bank?

Laurentian Bank of Canada is a Quebec-based bank with services available in Ontario, Alberta, British Columbia and Nova Scotia, thanks to its merger with Eaton Trust. This ensures more and more Canadians can access its generous credit cards and versatile banking products. Laurentian Bank is part of the Desjardins family. 

Types of credit cards

Types of Laurentian Bank credit cards

Laurentian Bank offers a fairly comprehensive range of credit cards for Canadians and Canadian businesses:

  •  No annual fee: The Laurentian Bank Reward Me Visa combines everyday rewards with no annual fee in a single package
  •  Low APR: The Reduced Rate Visa from Laurentian offers a very competitive 12.49% APR on purchases and transfers plus a generous welcome bonus for a $30 annual fee
  • Rewards: The bank offers several rewards cards designed to match your spending and lifestyle (businesses included)
  • Cash back: The Cashback Visa offers up to 2% back on everyday purchases, plus a huge welcome bonus
  • Travel: The Laurentian Bank Visa Infinite is the bank’s premium travel card which more than pays for itself with its two-year annual fee waiver
  • Business: Laurentian offers a rewards and cash back option for businesses
Laurentian rewards guide

Guide to Laurentian Bank rewards

How to earn Laurentian Bank rewards

Welcome bonuses

Laurentian Bank may not be the biggest bank in Canada, but it’s no slouch when it comes to welcome bonuses. The bank’s welcome bonuses are often valued at hundreds of dollars and typically include a combination of annual fee waivers, spending bonuses and bonuses for unlocking account milestones such as:

  •  Adding authorized users
  • Setting up a recurring bill payment
  •  Making a purchase using an installment plan
  • Referring friends and family

Rewards or cash back

Laurentian Bank credit cards also earn bonus rewards (points or cash back) on select categories, which usually include gas and EV charging, groceries, recurring bill payments and travel and transportation purchases. But just how many rewards and which categories depends on the card you pick:

Card
Categories
Earn rate
Laurentian Bank Visa Infinite
Gas, groceries, bills, travel, transit
2x
Laurentian Bank Visa Cashback
Gas, groceries, bills
2%
Laurentian Bank Reward Me
Gas, groceries, bills
1x

First purchase bonus points at select merchants

You can also earn bonus points by making the first purchase with select Laurentian Bank partners. When shopping with these brands, you may be awarded additional points the first time you use your Laurentian Bank credit card.

inCard offers

You can earn bonus rewards automatically when you pay with your credit card. Simply pay online or in store to earn bonus rewards.

What are Laurentian Bank rewards points worth?

Laurentian Bank rewards points are worth one cent per point. Redeeming 100 Laurentian Bank points will net you $1 in cash back, giving the points a value of $0.01 cents/point – pretty average (but not worryingly so).

Do Laurentian Bank rewards expire?

No, Laurentian Bank rewards points do not expire and there’s no limit to the number of points that you can earn.

How to redeem Laurentian Bank points

Redeeming Laurentian Bank rewards is simple and straightforward. The easiest way to redeem is online by logging in to your account at laurentianbank.ca/rewardzone and accessing your points through your account dashboard. Additionally, you can easily redeem points by calling 888-642-8171.

Cash back or points earned within your statement cycle will automatically be redeemed and applied against your account balance on a monthly basis. However, if you have a rewards credit card, you can opt to redeem for travel.

You can redeem points for travel credits starting at 10,000 points, with the option to pay partially with points and then pay the remaining balance with your card. To book a trip using points, simply call the Laurentian Bank Reward Zone customer service at 888-642-8171.

FAQs

FAQs

  • How can I contact Laurentian Bank customer service agents?

    +

    You can contact Laurentian Bank customer support reps at 514-284-7570 or toll free at 1-800-263-8980, any time of day, seven days a week.

  • How much are Laurentian Bank points worth?

    +

    Laurentian Bank rewards points have a value of one cent per point, or 100 points is equal to $1.

  • What happened to the Laurentian Bank Visa* EXPLORE?

    +

    The Laurentian Bank Visa* EXPLORE is no longer available to new applicants but existing account holders can continue to enjoy the card and earn rewards.

Sources

Sources:

Cory Santos Finance editor

Cory Santos is a finance writer, editor and credit card expert with nearly a decade of experience in personal finance. Cory joined Wise Publishing from BestCards, with bylines in numerous print and digital publications across North America, including the Miami Herald, St. Louis Post-Dispatch, Debt.ca, AOL, MSN and Medium as well as financial podcasts like KOFE Talk.

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