Overall rating
First year value
$0
Scores by category
Welcome Bonus 3.5
Rewards 2.7
Travel 2.4
At a glance
The Laurentian Bank Visa Infinite* Card is a premium travel rewards credit card offering elevated earn rates on categories such as gas, groceries, travel, transit and recurring payments. Cardholders benefit from a generous welcome bonus and access to comprehensive travel insurance, making it a suitable option for frequent travelers seeking to maximize rewards and enjoy added travel perks.
Highlights
$130
Annual fee
1st year waived; 2nd year rebated
Interest Rates
20.99%
Purchase APR
21.99%
Balance transfer APR
22.99%
Cash advance APR
Eligibility
Good
Recommended credit score
$60,000
Required annual personal income
$100,000
Required annual household income
Quick overview of the Laurentian Bank Visa Infinite*
The Laurentian Bank Visa Infinite* is the premiere reward credit card offered by Laurentian Bank. Of the four other cards in its credit card lineup, this one boasts two additional reward categories and is the only one that offers comprehensive travel and medical insurance coverage.
With the flexibility to redeem points towards statement credit, purchases from partner merchants, or just cold hard cash, this well-rounded credit card has the potential to be your go-to piece of plastic -- that’s if you meet the $60,000 personal income requirement (or $100,000 for households) and are willing to pay $130 a year for the privilege.
Who’s the Laurentian Bank Visa Infinite* for?
The ideal Laurentian Bank Visa Infinite* cardholder is one with plans for major purchases within the first year of opening their card. Once the promotional period has passed, however, this credit card only really makes sense in the long term for someone who will spend at least $6,500 annually between travel, transportation, groceries, and gas. This amount, which breaks down to about $542 a month, is the breakeven point -- the minimum you’d have to spend to earn enough rewards to offset the card’s $130 annual fee.
Pros and Cons
Pros
-
Annual fee waiver: Laurentian Bank waives the annual fee for the first two year
-
Rewards: Earn an unlimited 1x points in base rewards, with 2x on gas, travel and transit plus bills.
-
Redemption flexibility: Flexible point redemption options with no minimum redemption amount
Cons
-
Income: The card requires a pretty large income making it inaccessible to some
-
High APR: APR on purchases is higher than found with some other options
How to earn points with the Laurentian Bank Visa Infinite*
The Laurentian Bank Visa Infinite* earns an unlimited 2X points in four popular purchase categories (Gas, Groceries, Travel, and Transportation) and 1X points for everything else. Unlike the other two rewards credit cards offered by Laurentian Bank, only the Visa Infinite offers rewards for travel and transportation purchases.
The standout feature, however, is its ability to earn 2X points on recurring payments. Recurring payments can include nearly anything -- utilities, cable, internet, phone, home and auto insurance, magazine and newspaper subscriptions, streaming services -- as long as it’s coded under the appropriate category code by the merchant (it may also be referred to as a pre-authorized debit). This rewards category makes the Laurentian Bank Visa Infinite* one of the most versatile rewards credit cards out there.
How to redeem
You’ve got to love a credit card with options, and the Laurentian Bank Visa Infinite* certainly has them. Points can be redeemed for cash that’s applied toward your account balance or specific purchases, or toward merchandise or gift cards via the online portal. Our favorite aspect of the redemption methods for the Laurentian Bank Visa Infinite* is that cardholders can redeem as little as $1 in rewards.
Laurentian Bank Visa Infinite* Insurance coverage
Purchase protection 90 days for theft or accidental damage for 90 days on merchandise paid for with the card.
- Extended warranty: 1 year
- Purchase protection: 90 days
- Travel accident insurance: $500,000
- Trip interruption: Up to $5,000
- Trip cancellation: Up to $2,000
- Baggage delay: Up to $2,500
- Rental car coverage: Up to $65,000
The card also comes with medical care $5 million out-of-province coverage, for you and your family for a maximum of 15 days for clients aged 66 to 75 and 31 days for clients aged 65 and under
What people have to say about the Laurentian Bank Visa Infinite*
People like the generous signup bonuses but aren’t impressed enough to make it their primary card once the annual fee is no longer waived. The primary complaints surrounding this credit card aren’t about the card itself, but frustration at Laurentian Bank’s customer service. Some users have had issues with their application forms, others with getting straight answers about charges that shouldn’t be there.
How the Laurentian Bank Visa Infinite* compares
Focus on how this card stacks up against the competitors in 2 paragraphs knowing the reader already knows about the main card. Think about why someone would want one over the other
Laurentian Bank Visa Infinite* vs. CIBC Dividend® Visa Infinite* Card
10% cash backâ€
Welcome Bonus
$758
First Year Value
$558
Annual Value
Welcome Bonus: Earn 10% cash back for the first 4 statements on net purchases of up to $2,000.†Plus, get a first-year annual fee rebate for you and up to three Authorized Users.â€
Get this card if you...
-
want high cash back rates on groceries, gas and recurring bills
-
value comprehensive insurance benefits
-
value a great welcome offer
Annual Fee & Annual Interest Rates
$120
Annual Fee
20.99%â€
Purchase
22.99%â€
Cash Advance
22.99%â€
Balance Transfer
Our Take
The CIBC Dividend® Visa Infinite* Card is a cash back credit card offering elevated earn rates on categories such as groceries, gas, transportation, dining, and recurring payments. Cardholders benefit from features like purchase security, extended protection, and optional insurance coverages. It's a good option for those seeking to maximize cash back on everyday spending.
Eligibility
Good (620 - 670)
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Pros
-
First-year annual fee rebateâ€
-
10% cash back welcome bonus up to $2,000†spend
-
4% cash back on gas, electric vehicle charging and grocery stores
-
2% cash back on transportation, dining and recurring payments
-
High annual spending cap on benefits ($20,000 in bonus categories or $80,000 total)
Cons
-
High income requirement
-
Sparse travel insurance offering
Annual Interest Rates
20.99%â€
Purchase
22.99%â€
Cash Advance
22.99%â€
Balance Transfer
25.99%â€
Penalty
Fees
$120
Annual Fee
$2.5
Foreign Transaction
$29
Over The Limit Penalty
$42.5
Return Penalty
Rewards cash back
4%
cash back on eligible gas, EV charging, and grocery purchases.â€
2%
cash back on eligible transportation, dining purchases and recurring paymentsâ€
1%
cash back on all other purchasesâ€
10 cents
save up to 10 cents per litre†at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.â€
Insurance Benefits
$1,000
Mobile device insurance amount
$5,000,000
Emergency medical insurance amount
$500,000
Travel accident insurance amount
$65,000
Rental car insurance amount
Get a first-year annual fee rebate for you and up to three Authorized Users†and earn 10% cash back for the first 4 statements on net purchases of up to $2,000†.
Our Take
The CIBC Dividend® Visa Infinite* Card is a cash back credit card offering elevated earn rates on categories such as groceries, gas, transportation, dining, and recurring payments. Cardholders benefit from features like purchase security, extended protection, and optional insurance coverages. It's a good option for those seeking to maximize cash back on everyday spending.
Eligibility
Good (620 - 670)
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Pros
-
First-year annual fee rebateâ€
-
10% cash back welcome bonus up to $2,000†spend
-
4% cash back on gas, electric vehicle charging and grocery stores
-
2% cash back on transportation, dining and recurring payments
-
High annual spending cap on benefits ($20,000 in bonus categories or $80,000 total)
Cons
-
High income requirement
-
Sparse travel insurance offering
Annual Interest Rates
20.99%â€
Purchase
22.99%â€
Cash Advance
22.99%â€
Balance Transfer
25.99%â€
Penalty
Fees
$120
Annual Fee
$2.5
Foreign Transaction
$29
Over The Limit Penalty
$42.5
Return Penalty
Rewards cash back
4%
cash back on eligible gas, EV charging, and grocery purchases.â€
2%
cash back on eligible transportation, dining purchases and recurring paymentsâ€
1%
cash back on all other purchasesâ€
10 cents
save up to 10 cents per litre†at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.â€
Insurance Benefits
$1,000
Mobile device insurance amount
$5,000,000
Emergency medical insurance amount
$500,000
Travel accident insurance amount
$65,000
Rental car insurance amount
Get a first-year annual fee rebate for you and up to three Authorized Users†and earn 10% cash back for the first 4 statements on net purchases of up to $2,000†.
Both cards have similar annual fees and rewards in similar purchase categories, but the Laurentian Bank Visa Infinite* is better suited for flyers while the CIBC Dividend® Visa Infinite* Card is stronger for road trippers who would more frequently need to fill up the car with either gas or electric charge. The 4% grocery bonus makes it a compelling everyday card, but the signup bonus can’t compare to the value offered by Laurentian Bank.
Disclosures:
- †Terms and Conditions Apply. This offer is not available for the residents of Quebec.
- The information for the CIBC Dividend® Visa Infinite* Card has been collected independently by Money.ca. The card details on this page have not been reviewed or provided by the card issuer.
Laurentian Bank Visa Infinite* vs.BMO CashBack® World Elite®* Mastercard®
up to 10% cash back
Welcome Bonus
$950
First Year Value
$690
Annual Value
Welcome Bonus: Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first year.†Expires Jun 01, 2025
Get this card if you...
-
are a high-earner looking to earn cash back
-
want great perks like travel insurance and concierge services
-
value a great welcome offer
Annual Fee & Annual Interest Rates
$120
Annual Fee
21.99%
Purchase
23.99%
Cash Advance
23.99%
Balance Transfer
Our Take
The BMO CashBack® World Elite®* Mastercard®* is a premium credit card offering elevated cash back rates on categories such as groceries, transit, gas, and recurring bill payments. Cardholders benefit from complimentary roadside assistance, comprehensive insurance coverage, and flexible cash back redemption options, so you can maximize your rewards on everyday spending.
Eligibility
Excellent (740+)
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Pros
-
Valuable sign-up bonus
-
High 5% cash back rate on groceries
-
Free roadside assistance
-
Excellent extended warranty and purchase protection terms
Cons
-
Restrictive spending limits for most cash back categories
-
Sign-up bonus structure is head-scratchingly complicated
-
High minimum income requirements
Annual Interest Rates
21.99%
Purchase
23.99%
Cash Advance
23.99%
Balance Transfer
Fees
$120
Annual Fee
$2.5
Foreign Transaction
Rewards cash back
5%
Groceries: 5% cash back up to $500 spent per month ($25 in cash back)*
4%
Transit: 4% cash back up to $300 spent per month ($12 in cash back)*
3%
Gas: 3% cash back up to $300 spent per month ($9 in cash back)*
2%
Recurring Bills: 2% cash back up to $500 spent per month ($10 in cash back)*
1%
Everything Else: 1% cash back, unlimited*
Insurance Benefits
$2,000,000
Emergency medical insurance amount
$500,000
Travel accident insurance amount
$65,000
Rental car insurance amount
Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first year.â€
†Terms and Conditions apply,
Our Take
The BMO CashBack® World Elite®* Mastercard®* is a premium credit card offering elevated cash back rates on categories such as groceries, transit, gas, and recurring bill payments. Cardholders benefit from complimentary roadside assistance, comprehensive insurance coverage, and flexible cash back redemption options, so you can maximize your rewards on everyday spending.
Eligibility
Excellent (740+)
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Pros
-
Valuable sign-up bonus
-
High 5% cash back rate on groceries
-
Free roadside assistance
-
Excellent extended warranty and purchase protection terms
Cons
-
Restrictive spending limits for most cash back categories
-
Sign-up bonus structure is head-scratchingly complicated
-
High minimum income requirements
Annual Interest Rates
21.99%
Purchase
23.99%
Cash Advance
23.99%
Balance Transfer
Fees
$120
Annual Fee
$2.5
Foreign Transaction
Rewards cash back
5%
Groceries: 5% cash back up to $500 spent per month ($25 in cash back)*
4%
Transit: 4% cash back up to $300 spent per month ($12 in cash back)*
3%
Gas: 3% cash back up to $300 spent per month ($9 in cash back)*
2%
Recurring Bills: 2% cash back up to $500 spent per month ($10 in cash back)*
1%
Everything Else: 1% cash back, unlimited*
Insurance Benefits
$2,000,000
Emergency medical insurance amount
$500,000
Travel accident insurance amount
$65,000
Rental car insurance amount
Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first year.â€
†Terms and Conditions apply,
The BMO CashBack® World Elite®* Mastercard®* has impressive bonuses for groceries and travel that make it highly practical but also a fairly narrow scope of rewards. The Laurentian Bank Visa Infinite* is much more well-rounded (even if the reward tiers aren’t as high) and has a similar annual fee.
Disclosures:
- *Terms and conditions apply.
- BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.
Is the Laurentian Bank Visa Infinite* worth it?
The Laurentian Bank Visa Infinite* is a well-rounded credit card that offers rewards for coveted purchase categories and is the best in Laurentian Bank’s lineup. However, the relatively low reward rates and a high annual fee make this a tricky sell once that annual fee is no longer waived. If you meet this card’s income and credit score requirements, you’ll find more compelling rewards card options out there.
Laurentian Bank Visa Infinite eligibility requirements
As noted, the Laurentian Bank Visa Infinite Card has slightly higher income requirements versus some other cards from the bank. You'll need to meet the following requirements when applying to get approved for the card:
- 1.
Canadian resident of the age of majority in your province or territory
- 2.
Excellent credit score
- 3.
$60,000 personal income or $100,000 household income
FAQs
Tyler Fordham is a finance writer and credit card expert who loves all things rewards.
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