I had been looking for an inexpensive travel card or rather a no-fee foreign exchange card. I came across this offering from a quite unknown company to Canadians. Brim Financial is offering a Mastercard.
Brim credit cards are unrivalled in their originality, with special perks and insurance packages not frequently offered by other credit card providers.
It comes in 3 different flavors, basic. world. and world elite. I am focused on the basic version here.
While there are no annual fees with the Brim Financial Mastercard, it does come with a slew of features and perks that make it worthwhile to investigate.
The most interesting one is likely the basic card, which earns 1% cash back for pretty much anything purchased with the card.
In addition to the flat-rate rewards program, you can earn accelerated points at hundreds of stores through the Brim marketplace’s inCard, eShop, and Milestone bonus offers. When you pay with your Brim card at specific stores, InCard offers are automatically applied. For example, as of February 2022, you might get 3% back at Apple, 9% at Just gold stuff, 8% at lululemon, 10% at Decathlon and more. On the Brim app, you may find eShop specials that give you up to 30% back in points.
Most importantly it comes with 0% Foreign Exchange which I’m sure a lot of us are looking for now that Chase is discontinuing its Amazon and Marriott credit card offerings. When you shop abroad, you will not be charged any foreign currency transaction fees, saving you the traditional 2.5 percent foreign currency exchange fee charged by other banks.
It also includes a Boingo Global membership. The utility of this depends entirely on your personal circumstances, but based on my preliminary research, it could come in handy in a pinch at some airports that charge for Wi-Fi. I’ve heard that boingo also gets you free in-flight wi-fi on select flights. Please chime in if you have more experience with Boingo.
At a Glance: Brim Mastercard
- $0 annual fee
- Earn 1 point for every $1 spent
- Accelerated rewards earn rates at select retailers through Brim Open Rewards
- 0% foreign transaction fees
- Free Global Wi-Fi via Boingo
- Access to a budgeting app
- Free supplementary cards
- Mobile device Insurance up to $500
- Common Carrier Accident Insurance up to $100,000 per insured person
- Event Ticket Protector Insurance
- Extended warranty and purchase protection
- Offers installment payments
Brim Mastercard Vs Brim World Elite Mastercard
| Features | Brim Mastercard | Brim World Mastercard | Brim World Elite Mastercard |
|---|---|---|---|
| Annual Fee | $0 | $99 | $199; waived in first year |
| Base Rewards Earn Rate | 1 point per dollar (1% cash back) | 1.5 points per dollar (on up to $25,000); 1 point per dollar after | 2 points per dollar (on up to $25,000); 1 point per dollar after |
| FX Fees | $0% | $0% | $0% |
| Free Global Wi-Fi | Yes | Yes | Yes |
| Complimentary Loungekey Membership | No | Yes | Yes |
| Common Carrier Accident Insurance | $100,000/insured; $300,00/accident | $150,000/insured; $500,000/accident | $150,000/insured; $500,000/accident |
| Mobile Device Insurance | Up to $500 for loss, damage, or theft of tablet or smartphone | Up to $1,000 for loss, theft or damage of tablet or smartphone | Up to $1,000 for loss, theft or damage of tablet or smartphone |
| Event Ticket Protector Insurance | Coverage up to $1,000 | Coverage up to $1,000 | Coverage up to $1,000 |
| Extended Warranty | Up to 1 extra year; $25,000 maximum | Up to 1 extra year; $25,000 maximum | Up to 1 extra year; $25,000 maximum |
| Purchase Security Insurance | Coverage up to 90 days following purchase | Coverage up to 90 days following purchase | Coverage up to 90 days following purchase |
| Out of Province Emergency Travel Medical Insurance | No | 8 days; up to $5 million if under 65 years | 15 days and up to $5 million if under 65 years; 3 days if 65+ |
| Flight Delay Insurance | No | $500/day; $1,000 maximum | $1,000/day; $1,000 maximum |
| Baggage Delay Insurance | No | $1,000/insured; maximum of $2,000 | $1,000/insured; maximum of $2,000 |
| Lost or Stolen Baggage Insurance | No | $1,000/insured; maximum of $2,000 | $1,000/insured; maximum of $2,000 |
| Hotel/Motel Burglary Insurance | No | $500/occurrence | $1,000/occurrence |
| Car Rental Collision/Loss Damage Insurance | No | Up to 48 days; $65,000 MSRP | Up to 48 days; $85,000 MSRP |
| Car Rental Accident and Dismemberment Insurance | No | Up to $100,000/insured; maximum of $300,000 | Up to $100,000/insured; maximum of $300,000 |
| Car Rental Personal Effects Insurance | No | $1,000/insured; $2,000 maximum | $1,000/insured; $2,000 maximum |
| Travel Assistance | No | Yes | Yes |
| Trip Cancellation Insurance | No | No | $2,000/insured; maximum of $5,000/trip |
| Trip Interruption Insurance | No | No | $5,000/insured; maximum of $25,000/trip |