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The Meridian Visa Infinite Cash Back Card is a credit card that rewards your everyday purchases. This card treats you with cashback for every swipe, tap and online transaction.
With this card, you know your rewards are being earned towards the purchases that matter most to you, whether it’s filling up your gas tank, stocking up on groceries or paying your utility bills.
Additionally, you get insurance coverages and travel perks as a cardholder. And the best part? You get a waived annual fee in the first year and a free trial for all features, which means you can try out everything without any upfront cost.
In this post, we’ll delve into what makes the Meridian Visa Infinite Cash Back Card the perfect pick for your wallet and how it rewards you for shopping, no matter what you’re buying.
Meridian Visa Infinite Cash Back Card features
Meridian Visa Infinite Cash Back card features are geared towards travellers and frequent shoppers. Here is a detailed overview of the features this card offers:
- Generous Cash Back Rewards: The Meridian Visa Infinite Cash Back Card runs on a tiered cash back system. With this, you’ll earn:
- 4% cash back on gas and grocery purchases
- 2% cash back on pharmacy purchases and utility bill payments
- 1% cash back on all other eligible purchases
This structure is designed to reward you where you spend the most. For many of us, gas and groceries are significant monthly expenses, so earning 4% back on these categories can lead to substantial savings over time.
- Flexible Redemption Options: Your cash back rewards come in the form of Meridian Rewards Points, which offer flexibility in how you redeem them. You can use your points for: statement credits, gift cards, merchandise, or travel rewards.
This versatility means you can choose to either offset your credit card bill directly or treat yourself to something special with your earnings.
- Comprehensive Insurance Coverage: The Meridian Visa Infinite Cash Back Card provides several insurance perks for travelers:
- Travel accident insurance up to $1,000,000
- Up to $5,000,000 in travel emergency medical insurance
- Trip cancellation and interruption insurance
- Delayed and lost baggage insurance
- Auto rental collision/loss damage insurance
- Mobile device insurance up to $1,000
- Purchase protection and extended warranty
All these coverage benefits will give you reassurance when you are shopping or planning to travel, which could save you hundreds or even thousands of dollars over the long run.
- Visa Infinite Perks: With a Visa Infinite card, you will receive: Visa Infinite Concierge service, Visa Infinite Luxury Hotel Collection access and invitations to culinary events through the Visa Infinite Dining Series.
These perks add a touch of luxury to your card ownership experience, offering services and experiences that go beyond mere cash back.
- Price Protection Service: A unique feature of this card is its price protection service. If you find a lower price on an item you’ve purchased within 60 days, you can be reimbursed the difference up to $100 per item. If you’re a frequent shoppers who enjoy keeping up with deals, this feature alone can save you significant money.
- Welcome Bonus: While welcome bonuses can change, at the time of writing, new cardholders can earn 7,000 bonus rewards points upon approval. This gives you a head start on your rewards journey.
- First-Year Fee Waiver: The $99 annual fee is waived for the first year, allowing you to experience all the benefits of the card without an immediate cost.
With these features, the Meridian Visa Infinite Cash Back Card positions itself as a versatile financial tool for those who want to make the most of their everyday spending.
Pros and cons of Meridian Visa Infinite Cash Back Card
When considering the Meridian Visa Infinite Cash Back Card, it’s important to weigh its advantages and disadvantages. Here’s a balanced look at what this card offers:
Pros of the Meridian Visa Infinite Cash Back Card
- High Cash Back Rates
- Comprehensive Insurance Coverage
- Flexible Redemption Options
- First-Year Fee Waiver
- Price Protection
- Visa Infinite Perks
Cons of the Meridian Visa Infinite Cash Back Card
- Annual Fee After the First Year
- High Income Requirement of $60,000 minimum
- Spending Cap on Bonus Categories
- Limited availability to residents of Quebec
- Potential for Overspending
- Currency Exchange Fees of 2.5% fee on foreign transactions
Therefore, if you frequently spend on gas and groceries and can take advantage of the insurance benefits, the pros may well outweigh the cons. However, if you’re looking for a no-fee card or don’t meet the income requirements, you might want to explore other options.
What is the Meridian Visa Infinite Cash Back Card good for?
Here are a couple of ways you can use the Meridian Visa Infinite Cash Back card:
1. Primary Cardholder Account
As the primary cardholder, you’re the main account holder responsible for all charges and payments. You’ll enjoy all the benefits of the card, including:
- Full cash-back earning potential
- Access to all insurance coverages
- Visa Infinite perks and privileges
- Ability to redeem rewards
2. Supplementary Card Accounts
You can add authorized users to your account by requesting supplementary cards. These are great for family members or trusted individuals you want to extend your card benefits to. Here’s what you need to know:
- Supplementary cards cost $30 annually (waived for the first year)
- Purchases made on supplementary cards earn cash back at the same rate as the primary card
- The primary cardholder is responsible for all charges made on supplementary cards
- Some insurance benefits extend to supplementary cardholders, but coverage may vary
3. Business Use
While the Meridian Visa Infinite Cash Back Card is primarily a personal credit card, some self-employed individuals or small business owners might use it for business expenses. If you’re considering this, be aware that some business-specific protections offered by dedicated business credit cards may not apply.
Meridian Visa Infinite Cash Back Card alternatives
While the Meridian Visa Infinite Cash Back Card offers impressive benefits, here are some comparable cards to consider as alternatives:
Scotia Momentum Visa Infinite Card vs Meridian Visa Infinite Cash Back Card
This card offers a similar tiered cashback structure, which includes 4% on groceries and recurring bills, 2% on gas and daily transit, and 1% on all other purchases.
Pros:
- Broader 4% category, including recurring bills
- Often has a more substantial welcome bonus
- Includes mobile device insurance
Cons:
- Higher annual fee of $120 (often waived for the first year)
- Doesn’t offer price protection
The Scotia Momentum Visa Infinite might be better if you have significant recurring bill payments or use public transit frequently.
CIBC Dividend Visa Infinite Card vs Meridian Visa Infinite Cash Back Card
This is another strong contender in the cash-back space, offering 4% on gas and groceries, 2% on dining, daily transit, and recurring bills, and 1% on all other purchases.
Pros:
- Includes dining in the 2% category
- Often offers a first-year annual fee rebate
- Provides mobile device insurance
Cons:
- $120 annual fee after the first year
- Lacks some of the premium travel insurance benefits of the Meridian card
This card could be preferable if you dine out often and want to earn bonus cash back on those purchases.
BMO CashBack World Elite Mastercard vs Meridian Visa Infinite Cash Back Card
This card offers a different approach to cash back, which includes 5% on groceries, 4% on transit (including rideshares and taxis), 3% on gas and electric vehicle charging, 2% on recurring bills, and 1% on all other purchases.
Pros:
- Higher earn rate on groceries
- Includes complimentary airport lounge access
- Offers travel and mobile device insurance
Cons:
- $120 annual fee
- Caps on bonus category earnings
- Doesn’t offer price protection
The BMO CashBack World Elite could be a better choice if groceries are your highest spending category and you value airport lounge access.
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