Our Favourite Desjardins Credit Cards

Desjardins is well known throughout Canada as the country’s largest credit union. Because it’s actually a federation of over 300 credit unions, branches of Desjardins can be found in many smaller towns which don’t have any other financial institution. Desjardins provides a full range of financial products that include many types of auto, home and travel insurance, various credit cards, and brokerage services. Because Desjardins is a credit union rather than a standard bank, members with lower credit scores are often able to access insurance, credit sources, and other financial products that would otherwise be very expensive or out of their reach.

Desjardins credit cards are notable because they come with very useful insurance – either for your mobile device or travels (or both). Some cards provide access to the Desjardins Bonusdollars rewards program. Bonusdollars are unusual in that they can be redeemed for any travel tickets—not only flights, but also public transportation tickets, train passes, car rentals, and even hotel stays. Bonusdollars are also exchangeable for gift cards, Desjardins financial products, charitable donations, and hundreds of merchandise options.

Best Desjardins Cards at a Glance

Desjardins Cash Back Cards

Desjardins Cashback Visa/Mastercard

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Eligibility Criteria:
– Credit score required: Fair – Good (670-739)
– Min personal income required: N/A
– Annual fees: $0

It’s rare to find a credit card in Canada that’s available as either a Visa or Mastercard, but that’s exactly what Desjardins offers in its Desjardins Cashback Visa/Mastercard. You can choose which type of card you prefer and get the same benefits, rewards, and standard interest rates.

The main perk for Desjardins Cashback Visa/Mastercard holders is its cashback program. Cardholders earn 1% on all contactless payments made with the card and on preauthorized payments from service providers. This includes all recurring household bills, magazine subscriptions, and gym memberships that you set up on this card.

It’s a shame that there’s only 0.5% cash back on all other purchases, which does limit a cardholder’s earning power. There are certainly other credit cards out there that offer a better cashback rate, but this Desjardins Cashback Visa/Mastercard has no minimum income level and requires ‘only’ a Good credit score, making it accessible to more borrowers. It’s worth remembering that there’s also no annual fee, so all earned cash back is essentially entirely free.

Along with cash back, cardholders get the very useful perk of free mobile device insurance—ideal if they happen to lose their cell phone or it gets damaged. There’s also free travel insurance for up to 3 days when travelling outside a home province, which saves cardholders from needing to bother with getting travel insurance for every short trip they take. A 10% discount on Hertz rental cars adds to the travel perks.

On top of this, the Desjardins Cashback Visa/Mastercard offers free additional cards, contactless payment capabilities, and standard extended warranty and purchase protection. Cardholders can also apply for financing for special or unexpected purchases through the Desjardins Accord D financing program. Overall, the Desjardins Cashback Visa/Mastercard is a solid choice for individuals looking for a free credit card that doesn’t have exorbitant income requirements and offers some decent perks to boot.

Click here to apply for the Desjardins Cashback Visa/Mastercard card

Desjardins Low Interest Card

Desjardins Modulo® Visa

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Eligibility Criteria:
    – Credit score required: Fair – Good (670-739)
    – Min personal income required: $0
    – Annual fees: $50

With a combination of a low-interest rate along with cash back, the Desjardins Modulo® Visa is best for users who want a practical, multi-purpose card.

Those that regularly carry a balance on their credit cards probably know that a low interest rate can save a significant amount of money. The Desjardins Modulo® Visa has an interest rate of just 10.9%, almost half that of other Desjardins credit cards and most Canadian credit cards in general, which typically have a rate of around 20%. Alongside this, cardholders will earn a steady 1% back in Bonusdollars on all eligible purchases. While there are credit cards with higher earn rates, this is a useful and highly unusual perk for a low-interest card.

There’s a $50 annual fee for the Desjardins Modulo® Visa, plus a $10 fee for each additional card (though clients of other Desjardins products do get additional cards free of charge). There’s also the reassurance of knowing you can access flexible extended credit lines through the Accord D financing plan, which offers a second line of credit for large purchases or emergencies. Other perks available include up to a 20% discount on Hertz rental cars, free mobile device insurance for smartphones and tablets, and free travel insurance for trips of up to 3 days outside your province of residence.

The Desjardins Modulo® Visa also comes with all of the standard offers that Canadian consumers have come to expect of a modern credit card, including extended warranty and purchase protection, mobile payment capabilities, and zero liability protection if a cardholder should fall victim to fraud.

Click here to apply for the Desjardins Modulo® Visa

Desjardins Premium Travel Card

Desjardins Odyssey® World Elite® Mastercard

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Eligibility Criteria:
– Credit score required: Fair – Good (670-739)
– Min personal income required: $80,000
– Annual fees: $130

Proclaiming itself as ‘the must-have card for frequent flyers,’ this Desjardins credit card is ideal for cardholders who want a comprehensive free travel insurance program along with travel-related perks and rewards.

When compared to free travel insurance programs offered by other premium travel credit cards, the Desjardins Odyssey® World Elite® Mastercard holds its own. Cardholders benefit from travel medical insurance coverage of up to $5,000,000, trip cancellation coverage of $2,500 per person, travel accident coverage up to $1,000,000, and unlimited trip interruption coverage—more than the amounts offered by some Canadian cards with far higher annual fees. The best part of the Desjardins Odyssey® World Elite® Mastercard’s travel insurance program is the length of the trips that it will cover. If you’re under 60 when you travel, you can get coverage for a full 60 days, and those aged 60-65 get 31 days coverage, compared to a standard 15 days from most credit card travel insurance plans. It’s also a great choice for older cardholders, who are excluded entirely from coverage by most credit card plans. With Desjardins Odyssey® World Elite® Mastercard, travellers over 65 still get up to 15 days of free travel insurance at the same terms as everyone else.

Alongside the excellent free travel insurance plans, Odyssey World Elite cardholders can earn Bonusdollars at a rate of 2% on all eligible purchases. They also get access to the Desjardins Odyssey Lounge at Montréal-Trudeau Airport, free identity theft assistance, free concierge services, and the opportunity to access exclusive events and experiences through the Priceless Cities program.

The Desjardins Odyssey® World Elite® Mastercard isn’t a cheap card—there’s an annual fee of $130 and a minimum individual gross annual income requirement of $80,000 or combined household gross annual income of $150,000, and additional cards each cost $40 per year. However, this is pretty standard for a premium card with such a high-level travel insurance plan and luxury perks, and even lower than some comparable cards.

The Desjardins Odyssey® World Elite® Mastercard’s offers are topped off with mobile device insurance of up to $1,000 for smartphones and tablets, and standard extended warranty and purchase protection.

Click here to apply for the Desjardins Odyssey® World Elite® Mastercard