Desjardins Credit Cards

Desjardins Credit Card Benefits and Perks

While Desjardins credit cards don’t stand out in any one category in the top best Canadian credit cards, they do offer the following benefits:

• Insurance value: Perhaps because Desjardins is better known for its insurance than its banking services, you’ll find they offer some very enticing insurance perks. For example, the Desjardins Odyssey World Elite Mastercard offers outstanding insurance value at over $540.
• Good low interest cards: You’ll also find they offer several low interest credit cards that offer lower interest rates than the average card. This makes them a perfect choice if you always carry a balance.
• Income requirements are low to no: When applying for most Desjardins credit cards you are looking at either low or no income requirements. This makes it easier to get a credit card, while other banks might not be as generous. You will still have to have a respectable credit score however to be eligible.
• Low annual fees: Comparatively speaking, most Desjardins credit cards are on the low side when it comes to annual fees. On the flip side, they only offer one no-fee card.

Their top cards include:

Desjardins Cash Back Mastercard

This no annual fee card offers 3-day travel insurance and insurance for your mobile phone or tablet. Perks include:

• 1% cashback when using contactless payment technology, or preauthorized service providers
• 5% cashback on all other purchases
• Estimated insurance value of $248 with nine categories of coverage

Desjardins Odyssey World Elite Mastercard

This flexible rewards card offers additional perks for Desjardins Credit Union Members. General perks include:

• 5% BONUSDOLLARS on the first $20,000 spent annually
• 2% BONUSDOLLARS on purchases after $20,000
• Estimated insurance value of $541 in 11 categories
• 20% bonus BONUSDOLLARS for Desjardin Credit Union members
• Desjardins Odyssey Lounge in Montreal
• Discounts at participating Hertz locations

Desjardins Modulo Visa

• Purchase, balance transfer and cash advance interest rate 10.9%
• 1% BONUSDOLLARs on all purchases
• Estimated insurance value of $248 in nine categories
• Up to 15% off at participating Hertz locations

Desjardins Student Cash Back Visa

This is a solid card for students although there are competitors with better perks. This card offers:

• 1% cashback when using contactless payment technology, or preauthorized service providers
• 5% cashback on all other purchases
• Estimated insurance value of $248 in nine categories
• Up to 15% discount at participating Hertz locations

Desjardins Credit Card Drawbacks

Desjardins credit cards have their fair share of drawbacks including:

• Poor rewards and cashback returns: Your Desjardins credit cards won’t be earning you any rewards or cashback any time soon. They are at the very low end of the average card with most not even reaching 1%. Your best bet is the Desjardins Odyssey Visa Infinite Privilege which averages about 2% but then you lose some of that because of their very high annual fee of $395. To make that up, you’d need to spend at least $20,000 annually.
• Very few perks: Reading above, you already know they offer very few perks. These cards miss the mark completely in this category as well, coming in at below $78 compared to a card such as American Express that averages over $570. Their only true value is found in the Desjardins Odyssey Visa Infinite, but don’t forget that crazy high annual fee!
• No welcome bonuses: With so many other cards offering extremely generous welcome bonuses, there really is no incentive to apply for a Desjardins credit card that literally offers none. Not even waiving the first year’s annual fees. More than half of the credit cards available offer some sort of welcome bonus, with many offering enough value to really make it worth your while. With nothing to speak of, it really makes it difficult to justify applying at Desjardins at all.

They tend to keep up with the standard high-interest rates of most other cards, at about 19.99% depending on the card you choose.

How do Desjardins credit cards compare to other banks?

How to choose the right Desjardins credit card for your need?

Unless you are a member of Desjardins credit union, you are sure to find a credit card offering better welcome bonuses, better rewards, and better special features. However, if you are looking at Desjardins, your choices really depend on your income, your financial goals, and your spending habits. We have provided an overview of their top-rated cards to help make your decision a little easier.