Desjardins Cash Back Mastercard Review: A Card with Affordable Coverage
The Desjardins Cash Back Mastercard is one of the best no-fee cash back cards for impressive insurance coverage.
Sep 23, 2026 3:08 PM
The Bottom Line
While the Desjardins Cash Back Mastercard has valuable coverage for no annual fee, there are other no-fee cash back contenders with better optimization opportunities, depending on your spending habits.
Skip to: Detailed Review
on Desjardins' website
RECOMMENDED CREDIT SCORE
Rewards
- 2% cash back on restaurant & pre-authorized purchases (up to $3,600 spend per category)
- 2% cash back on entertainment and transit purchases
- 0.5% cash back on all other purchases
Insurance
Coverage
Extended Warranty
1 year
Purchase Protection
90 days
Mobile Device Insurance
$1,000
Trip Cancellation
$500
Trip Interruption
$1,000
Travel Medical Insurance (64 & under)
3 daysTravel Medical Insurance (65 to 75)
3 days
Baggage Delay
$500
Lost or Stolen Baggage
$500
Eligibility
Credit Score
GoodAnnual Income
N/A
Card Details
Interest Rates
Purchase APR
20.90%
Cash Advance APR
21.90%
Balance Transfer APR
21.90%
Fees
Annual Fee
$0
Additional Cards
$0
Eligibility
Minimum Individual Income
N/A
Minimum Household Income
N/A
Credit Score Estimate
Good
Type
Card Type
Credit
Reward Type
Cash BackPros & Cons
Pros
- No annual fee
- Solid optimization
- Strong insurance
Cons
- Limited physical branch access
- No benefits
- Low base earn rate
- No welcome bonus
Our Detailed Review
How to Earn Rewards with the Desjardins Cash Back Mastercard
There are a few ways to collect cash back with the Desjardins Cash Back Mastercard.
Expect:
- 2% cash back on restaurant & pre-authorized purchases (up to $3,600 spend per category)
- 2% cash back on entertainment and transit purchases
- 0.5% cash back on all other purchases
How to Redeem Rewards with the Desjardins Cash Back Mastercard
Your account will be credited automatically once you collect $25 in cash back.
Benefits and Perks
3 Benefits of the Desjardins Cash Back Mastercard Review
There are a few benefits that make the Desjardins Cash Back Mastercard one of the best Desjardins credit cards in Canada.
Looking for something budget-friendly? The Desjardins Cash Back Mastercard has you covered with no annual fee.
This card earns you strong everyday cash back for a no-fee card, notably on popular categories like restaurant purchases.
For a no-fee credit card, the Desjardins Cash Back Mastercard also comes with tons of coverage, including protections like trip interruption, trip cancellation, and travel medical insurance for seniors.
Drawbacks and Considerations
2 Downsides to the Desjardins Cash Back Mastercard
Before submitting your application, you'll want to consider these drawbacks.
While the Desjardins Cash Back Mastercard does a good job of optimizing restaurant, pre-authorized, entertainment, and transit purchases, it doesn't have a high reward rate for all other purchases.
Even though the Desjardins Cash Back Mastercard has impressive insurance coverage, it lacks any added benefits.
Compare to Similar Cards
Comparison to Other No Fee Cash Back Credit Cards in Canada
To help you solidify your decision, we've compared the Desjardins Cash Back Mastercard against other no fee cash back credit cards in Canada.
Desjardins
2.6
Rogers Bank
4.5
Simplii Financial™
4.3
Neo Financial
3.4
Annual Fee
$0
$0
$0
$0
$0
Interest Rates
Purchase
20.90%
Cash advance
21.90%
Balance transfer
21.90%
Purchase
20.95%*
Cash advance
22.95%*
Balance transfer
22.95%*
Rate details
Purchase
21.99% - 25.99%*
Cash advance
22.99% - 27.99%*
Balance transfer
22.99% - 27.99%*
Rate details
Purchase
20.99%*
Cash advance
22.99%*
Balance transfer
22.99%*
Rate details
Purchase
19.99% - 29.99%
19.99% - 23.99%
Cash advance
22.99% - 31.99%
Balance transfer
22.99% - 31.99%
Welcome Bonus
—
Get $120 with a Tangerine® Money-Back World Mastercard®* and a limited time promo rate on balance transfers
Welcome Bonus varies
20% cashback† up to $500 in spending
—
Rewards
$262.2
First year rewards
$402.86
First year rewards
$360
First year rewards
$438.18
First year rewards
$252.26
First year rewards
on Desjardins' website
on Tangerine's website
on Rogers Bank's website
on Simplii Financial™'s website
on Neo Financial's website
Welcome Bonus Details
Earn Rates
Insurance Coverage
Extra Benefits
Requirements
Desjardins Cash Back Mastercard vs Tangerine Money-Back World Mastercard
For something more customizable, cardholders can opt for the Tangerine Money-Back World Mastercard, one of the best Tangerine credit cards in Canada. This competitor allows you to pick two categories out of the 13 offered by Tangerine. Categories include entertainment, restaurants, recurring bill payments, transportation, and more. You'll even earn a third category when you deposit your rewards into a Tangerine Savings Account. That said, cardholders receive less coverage. On the other hand, the Tangerine Money-Back World Mastercard comes with perks, including an airport lounge Dragon Pass membership. However, you'll need to meet some high annual income requirements to qualify.
Verdict: The Tangerine Money-Back World Mastercard offers some more flexibility and perks, but fewer optimization opportunities and less insurance coverage.
Desjardins Cash Back Mastercard vs Rogers Red World Elite Mastercard
Applicants may also consider the Rogers Red World Elite Mastercard, one of the best no-fee credit cards in Canada. This contender collects solid cash back on USD and non-USD purchases, especially if you have a qualifying Rogers, Fido, Comwave or Shaw service. Like the Desjardins Cash Back Mastercard, the Rogers Red World Elite Mastercard has some impressive coverage, but not quite as much. Cardholders can also expect perks like a Dragon Pass airport lounge membership. That said, this card comes with high annual income requirements and an annual spending cap.
Verdict: The Rogers Red World Elite Mastercard is the better choice for Rogers customers, perks, and higher earners.
Desjardins Cash Back Mastercard vs Simplii Financial Cash Back Visa Card
For even better cash back rates on dining, check out the Simplii Financial Cash Back Visa Card, one of the best dining credit cards in Canada. This card also optimizes pre-authorized payments at a lower cash back rate, not to mention gas, groceries, and drugstore purchases. The coverage on this competitor is pretty basic, offering only extended warranty and purchase protection insurance. To qualify for this card, you'll need to meet a household annual income requirement.
Verdict: The Simplii Financial Cash Back Visa Card is the best no-fee cash back card for foodies.
Desjardins Cash Back Mastercard vs Neo World Mastercard
For better boosted optimization, look no further than the Neo World Mastercard, one of the best Neo credit cards in Canada. This card earns you cash back on groceries, gas, and recurring purchases. The best part? These categories as well as others (like dining) can be optimized even further when you purchase from Neo Partners. Unfortunately though, this contender lacks extensive coverage and comes with some annual income requirements.
Verdict: The Neo World Mastercard has a unique and valuable cash back program for high earners who don't mind trading added coverage for better reward opportunities.
Frequently Asked Questions
The Desjardins Cash Back Mastercard is a solid no-fee contender, especially when it comes to insurance coverage. Still, there are other no-fee competitors with better overall value.
Unfortunately, the Desjardins Cash Back Mastercard doesn't have any added perks.
About the author
Sara Skodak
Lead Writer
Since graduating from the University of Western Ontario, Sara has built a diverse writing portfolio, covering topics in the travel, business, and wellness sectors. As a self-started freelance content ...
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Kevin Shahnazari
Co-founder
Kevin started FinlyWealth and juggles a bit of everything—digging into data, running our marketing, and keeping the finances on track. Before this, he spent years as a data scientist at tech companies...
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