Desjardins Cash Back Visa/Mastercard Review

Base Rewards Earning Rate
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Get cash rewards and no fee.

The Desjardins Cash Back Visa or Mastercard is a multi-purpose wallet companion with a variety of benefits for cardholders who appreciate cash back, purchase and travel insurance perks, and no annual fee. Cardholders can choose to get the card as either a Visa or a Mastercard, an unusual option which will be appreciated by those who are loyal to one payment processor or the other.

While Visa and Mastercard are about on par with each other in terms of global acceptance rates, Canadians might opt for a Mastercard if they shop at Costco often, due to the big-box retailer’s exclusive relationship with this issuer.

Desjardins Cashback Card Structure

With either Cash Back card, cardholders can earn up to 1.00% cash back on their purchases. All purchases made using wireless payment tech such as Apple Pay or Google Pay—both compatible with the card—will collect 1.00%. All preauthorized payments by service providers also earn cash back at 1.00%. Everything else earns cash back at 0.50%. Obviously, those who have already set up (or are willing to learn to use) these smartphone applications will earn more cash back, whereas those who are less comfortable with this method of payment are encouraged to seek out other cash back cards without this limitation.

Desjardins makes it easy to redeem cash back, largely because they handle everything for you. When a cardholder collects $25 in cash back, this amount is automatically credited to their latest statement, making for a highly convenient, stress-free way to save.

Feature Breakdown

  • $0 annual fee
  • Earn up to 1.00% cash back
  • Mobile Device Insurance
  • 3-day travel insurance package
  • Comes as either a Visa or Mastercard
  • Purchase protection and extended warranties
  • Discounts at Hertz car rental locations

The Desjardins brand is a favourite among Canadians for its excellent insurance perks, and even Desjardins cards outside the travel rewards category offer travel insurance in some way. For example, the Cash Back cards come with complimentary 3-day insurance for those who travel for shorter periods. If your trip is 3 days or less, you’ll be covered for emergency medical needs, trip cancellations, and theft and damage to your baggage. If you run into a dire situation, like the loss of important travel documents or getting stranded without cash, the travel assistance benefit provides 24/7 help for these kinds of situations. Trips longer than 3 days unfortunately receive no coverage.

Mobile Device Insurance will be appreciated by those in the market for a new smartphone, as Desjardins will cover it for $1,000 against damage and theft—if it was purchased with the Cash Back card. The insurance is valid for two years after the device’s purchase. Other perks that work to protect items bought with the card are purchase protection and extended warranties, which protect new items against damage and theft (up to 90 days after purchase), and can increase the length of a manufacturer’s warranty by up to another year.

For no annual fee, the card packs even more value on top of the previously-mentioned benefits. Cardholders can also save when renting vehicles at Hertz anywhere in the world. If they pay with the Cash Back card from Desjardins, they’ll receive up to 10.00% off.


For no annual fee, we don’t expect a perfect credit card with sky-high, no-strings-attached cashback rates. As we mentioned earlier, cardholders should be wary of the wireless payment stipulation for its 1.00% cash back rate. Those who aren’t interested in Apple or Google Pay will rarely get 1.00%, and instead be relegated to 0.50% for their purchases, which is below par compared to other no annual fee cashback cards.

Who’s the Card For?

Those who want a free cashback card with a strong constellation of benefits beyond mere cash back will enjoy the Desjardins Cash Back Visa/Mastercard. The combination of cash back, 3-day insurance, mobile device insurance, and even more coverage for new items bought with the card make it a great safeguard for unanticipated events.

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