Best Meridian credit cards
Money.ca / Meridian
Updated: October 03, 2024
Offerings noted in article current as of original publication. Please visit Meridian for updated details and terms.
Meridian is an Ontario-based credit card union that offers a variety of credit cards to citizens across Canada (excluding Quebec). From cash back and travel rewards cards to even a U.S. dollar card, Meridian has a variety of credit card options to suit your needs. Although you may not have heard of Meridian before, their credit cards are comparable to some of the best credit cards in Canada.
What are the best Meridian credit cards?
Meridian Cash Back Credit Cards
Meridian offers three different types of cashback credit cards: the Meridian Visa Cash Back Card, the Meridian Visa Platinum Cash Back Card, and the Meridian Visa Infinite* Cash Back Card. The higher tier cards come with better benefits, but they may also come with an annual fee, which turns some people off. Here’s a rundown of all the cards to help you choose the best option for your needs.
The Meridian Visa Cash Back Card offers basic cash back without an annual fee. It also has insurance benefits which include global customer service, price protection, zero liability, mobile devices, common carrier accident protection, and purchase protection and extended warranty and more.
Some may consider the cash back offered with this card to be low, but you need to look at the whole package you’re getting. The mobile device insurance is quite valuable when you consider that this is a no-fee card.
Apply for the Meridian Visa Cash Back Card
Meridian Visa* Platinum Cash Back Card
Fair
Suggested credit scoreto receive the latest news, tips and offers by email
Eligibility
Fair
Recommended Credit Score
$0
Required Annual Personal Income
Recommended Credit Score
Fair
Required Annual Personal Income
$0
19.5%
Purchase APR
21.99%
Cash Advance APR
$49
Annual Fee
Purchase APR
19.5%
Cash Advance APR
21.99%
Annual Fee
$49
Eligibility
Fair
Recommended Credit Score
$0
Required Annual Personal Income
Recommended Credit Score
Fair
Required Annual Personal Income
$0
19.5%
Purchase APR
21.99%
Cash Advance APR
$49
Annual Fee
Purchase APR
19.5%
Cash Advance APR
21.99%
Annual Fee
$49
When it comes to the Meridian Visa Platinum Cash Back Card, cardholders get enhanced cash back on gas, grocery and utility bill payments. The Meridian Visa Platinum Cash Back Card also comes with a number of insurance benefits and some decent travel insurance benefits. The capped cash back and annual fee will annoy some people, but you would still come out ahead compared to the no fee version once you’ve charged $4,901 to the card so there is a lot of value here.
Apply for the Meridian Visa Platinum Cash Back card
Meridian Visa Infinite Cash Back Card
Excellent
Suggested credit scoreGet 7,000 bonus rewards points upon approval†
Expires
Dec 31, 2024
Pros
-
First-year waiver on $99 annual fee
-
Tiered cash back rates up to 4%
-
Travel insurance, including intergenerational coverage
-
Valuable perks like price protection and mobile device insurance
-
Flexible redemption options beyond statement credit
Cons
-
$25,000 annual spending limit on 4% categories
-
Higher annual fee compared to Meridian Visa Platinum
-
Limited availability, not offered to residents of Quebec
-
Assessing benefits against personal spending habits is crucial
-
Potential overlap in benefits with the more affordable Platinum version
Eligibility
Excellent
Recommended Credit Score
$60,000
Required Annual Personal Income
Recommended Credit Score
Excellent
Required Annual Personal Income
$60,000
4%
The Meridian Visa Infinite* Cash Back Card earns cash back on multiple levels, collecting 4.00% on all grocery and gas purchases;
2%
2.00% cash back on pharmacy purchases and on utility bills.
1.00% elsewhere.
1.00% cash back elsewhere.
The Meridian Visa Infinite* Cash Back Card earns cash back on multiple levels, collecting 4.00% on all grocery and gas purchases;
4%
2.00% cash back on pharmacy purchases and on utility bills.
2%
1.00% cash back elsewhere.
1.00% elsewhere.
19.54%
Purchase APR
21.99%
Cash Advance APR
$99
Annual Fee
Purchase APR
19.54%
Cash Advance APR
21.99%
Annual Fee
$99
Pros
-
First-year waiver on $99 annual fee
-
Tiered cash back rates up to 4%
-
Travel insurance, including intergenerational coverage
-
Valuable perks like price protection and mobile device insurance
-
Flexible redemption options beyond statement credit
Cons
-
$25,000 annual spending limit on 4% categories
-
Higher annual fee compared to Meridian Visa Platinum
-
Limited availability, not offered to residents of Quebec
-
Assessing benefits against personal spending habits is crucial
-
Potential overlap in benefits with the more affordable Platinum version
Eligibility
Excellent
Recommended Credit Score
$60,000
Required Annual Personal Income
Recommended Credit Score
Excellent
Required Annual Personal Income
$60,000
4%
The Meridian Visa Infinite* Cash Back Card earns cash back on multiple levels, collecting 4.00% on all grocery and gas purchases;
2%
2.00% cash back on pharmacy purchases and on utility bills.
1.00% elsewhere.
1.00% cash back elsewhere.
The Meridian Visa Infinite* Cash Back Card earns cash back on multiple levels, collecting 4.00% on all grocery and gas purchases;
4%
2.00% cash back on pharmacy purchases and on utility bills.
2%
1.00% cash back elsewhere.
1.00% elsewhere.
19.54%
Purchase APR
21.99%
Cash Advance APR
$99
Annual Fee
Purchase APR
19.54%
Cash Advance APR
21.99%
Annual Fee
$99
The Meridian Visa Infinite* Cash Back Card offers the most benefits of all of Meridian’s cash back cards, with the highest annual fee. As with other Meridian cash back cards, the Meridian Visa Infinite* Cash Back Card offers an impressive suite of travel-related insurance benefits.
Many consider other potential options to compete to be the best cash back credit card on the market, but they should compare it to the Meridian Visa Infinite* Cash Back Card. Both cards give similar earn rates, but the Meridian card has better insurance, and deserves more attention accordingly.
Apply for the Meridian Visa Infinite* Cash Back card
Meridian Travel Credit Cards
If you prefer to earn travel rewards over cash back, Meridian has you covered with its Platinum Travel Rewards Card and Infinite Travel Rewards Card. Here’s a breakdown of each travel card and its benefits.
Meridian Visa* Platinum Travel Rewards Card
Good
Suggested credit scoreto receive the latest news, tips and offers by email
Pros
-
Bonus points on foreign purchases
-
Enjoy flexible rewards redemption
-
Valuable insurance benefits
Cons
-
Limited travel partners
-
Okay customer service
-
Moderate rewards rate as compared to other travel cards
-
Comes with a foreign transaction fee
Eligibility
Good
Recommended Credit Score
Recommended Credit Score
Good
2%
Earn 2 reward points for every $1 spent on purchases made outside Canada
1%
Earn 1 reward points for every $1 spent on all purchases
Earn 2 reward points for every $1 spent on purchases made outside Canada
2%
Earn 1 reward points for every $1 spent on all purchases
1%
19.5%
Purchase APR
21.99%
Cash Advance APR
$49
Annual Fee
2.5%
Foreign Transaction Fee 2.5%
Purchase APR
19.5%
Cash Advance APR
21.99%
Annual Fee
$49
Foreign Transaction Fee
2.5%
Pros
-
Bonus points on foreign purchases
-
Enjoy flexible rewards redemption
-
Valuable insurance benefits
Cons
-
Limited travel partners
-
Okay customer service
-
Moderate rewards rate as compared to other travel cards
-
Comes with a foreign transaction fee
Eligibility
Good
Recommended Credit Score
Recommended Credit Score
Good
2%
Earn 2 reward points for every $1 spent on purchases made outside Canada
1%
Earn 1 reward points for every $1 spent on all purchases
Earn 2 reward points for every $1 spent on purchases made outside Canada
2%
Earn 1 reward points for every $1 spent on all purchases
1%
19.5%
Purchase APR
21.99%
Cash Advance APR
$49
Annual Fee
2.5%
Foreign Transaction Fee 2.5%
Purchase APR
19.5%
Cash Advance APR
21.99%
Annual Fee
$49
Foreign Transaction Fee
2.5%
With the Meridian Visa* Platinum Travel Rewards Card, consumers will earn basic points on eligible travel categories. Despite the fact that you earn extra points for purchases made in a foreign currency, you still pay the foreign transaction fee. That being said, you’re still paying significantly less for purchases made in a foreign currency when compared to credit cards that charge the full 2.5% fee.
Insurance benefits that come with the Meridian Visa* Platinum Travel Rewards Card include: global customer service, zero liability, price protection, mobile device insurance, purchase protection, extended warranty and some travel. For full details of the included travel insurance, continue reading below.
Apply for the Meridian Visa* Platinum Travel Rewards card
Meridian Visa Infinite* Travel Rewards Card
Good
Suggested credit scoreGet 7,000 bonus rewards points upon approval†
Expires
Dec 31, 2024
Pros
-
Bonus rewards on foreign currency purchases outside of Canada
-
Lower annual fee than similar competitor cards
-
Great insurance benefits
-
Attractive standard earn rate
-
Includes Visa Infinite benefits
Cons
-
You must be an Ontario resident to apply
-
No welcome offer
-
There is a minimum annual income requirement
-
Must spend in foreign currencies to earn bonus rewards
Eligibility
Good
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Recommended Credit Score
Good
Required Annual Personal Income
$60,000
Required Annual Household Income
$100,000
19.5%
Purchase APR
21.99%
Cash Advance APR
$99
Annual Fee $99
2.5%
Foreign Transaction Fee 2.5%
Purchase APR
19.5%
Cash Advance APR
21.99%
Annual Fee
$99
Foreign Transaction Fee
2.5%
Pros
-
Bonus rewards on foreign currency purchases outside of Canada
-
Lower annual fee than similar competitor cards
-
Great insurance benefits
-
Attractive standard earn rate
-
Includes Visa Infinite benefits
Cons
-
You must be an Ontario resident to apply
-
No welcome offer
-
There is a minimum annual income requirement
-
Must spend in foreign currencies to earn bonus rewards
Eligibility
Good
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Recommended Credit Score
Good
Required Annual Personal Income
$60,000
Required Annual Household Income
$100,000
19.5%
Purchase APR
21.99%
Cash Advance APR
$99
Annual Fee $99
2.5%
Foreign Transaction Fee 2.5%
Purchase APR
19.5%
Cash Advance APR
21.99%
Annual Fee
$99
Foreign Transaction Fee
2.5%
The Meridian Visa Infinite* Travel Rewards card is Meridian’s best travel credit card. Although there is no signup bonus, the amount of points you earn from your everyday purchases is similar to many other travel rewards credit cards.
Besides the comprehensive travel insurance that’s included, cardholders also get insurance benefits such as global customer service, zero liability, price protection, mobile device insurance, purchase protection and extended warranty. That’s a lot of value for a card that waives the annual fee for the first year.
Apply for the Meridian Visa Infinite* Travel Rewards card
Meridian U.S. Dollar Card
Frequent travellers to the United States may also be interested in the Meridian Visa US Dollar Card. It’s an ideal credit card choice for consumers who make a number of purchases in U.S. dollars. Here’s what you need to know about the Meridian Visa US Dollar Card.
Meridian Visa* US Dollar Card
4.0
Good
Suggested credit scoreGet 7,000 bonus rewards points upon approval†
Expires
Dec 31, 2024
Eligibility
Good
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
Recommended Credit Score
Good
Required Annual Personal Income
$0
Required Annual Household Income
$0
19.5%
Purchase APR
21.99%
Cash Advance APR
$65
Annual Fee
Purchase APR
19.5%
Cash Advance APR
21.99%
Annual Fee
$65
Eligibility
Good
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
Recommended Credit Score
Good
Required Annual Personal Income
$0
Required Annual Household Income
$0
19.5%
Purchase APR
21.99%
Cash Advance APR
$65
Annual Fee
Purchase APR
19.5%
Cash Advance APR
21.99%
Annual Fee
$65
The Meridian Visa US Dollar Card allows cardholders to earn rewards on USD purchases. Since this is a U.S. dollar card, you don’t incur any foreign transaction fees when you make a purchase in U.S. dollars which saves you 2.5% in fees every time. That fee does apply if you make purchases in a currency besides USD. Keep in mind that you need to pay your bill in U.S. dollars for you to completely avoid any exchange fees.
Apply for the Meridian Visa US Dollar Card
How Meridian Travel Rewards work?
The idea of being able to use points toward travel is an attractive prospect, but just how does it work? Nancy Donohue, Senior Manager of Payments at Meridian helps break it down for us:
“Meridian Members can redeem their travel points on our rewards site or by phone. In addition to travel, redemption options include various categories: Merchandise, Event Tickets, Activities and Gift Cards. When visiting the site, Members can browse the categories, refine their searches within the categories and view options within and beyond their points value. Our online banking allows for single sign-on to this site which is also mobile-enabled.”
Meridian’s travel redemption rate for both travel cards is 100 points=$1 when redeemed for travel. Redemptions for travel are shown only as points on the Meridian travel portal, but the points required for a redemption are equivalent to the current price of the travel you’re trying to book.
It’s important to note that points cannot be used to pay for airline taxes or surcharges. Furthermore, Meridian does not use a full-service travel agency, however, members that need assistance can contact a customer service representative.
Finally, consumers should also know that using your points toward merchandise or gift cards does not offer as much value compared to using your points for travel.
Meridian Travel insurance coverage
As indicated earlier in this article, both the Meridian Visa* Platinum Travel Rewards Card and Meridian Visa Infinite* Travel Rewards Card have additional travel benefits. These benefits depend on the tier (Platinum or Infinite) and are applicable to both the cash back and travel rewards cards. The information below will help break down the differences between the two options to help you better decide which is a better fit for your travel insurance needs.
Meridian Visa Platinum travel insurance
Though the travel insurance under the Meridian Visa Platinum cards does not include emergency travel medical insurance, cardholders still get quite a bit of insurance which includes the following: auto rental collision/loss damage insurance (up to 48 days); lost or delayed baggage which covers up to $1,000 for theft or damage and up to $500 for late delivery; common carrier accident protection of $500,000; and 24/7 travel assistance.
Whether you are looking for a basic cash back credit card, a travel rewards credit card, or a U.S. dollar credit card, Meridian has some great options to suit your needs and lifestyle.
Recommended read: Best credit cards with mobile device insurance
Hannah Logan is a Canadian freelancer writer and blogger who specializes in personal finance and travel. You can follow her adventures on her travel blog EatSleepBreatheTravel.com or find her on Instagram @hannahlogan21.
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