Desjardins Cash Back Mastercard® Review

Updated October 14, 20265 min read

I'd look at the Desjardins Cash Back Mastercard as a no-fee card for the spending other cards skip: restaurants, entertainment, transit and taxis, and pre-authorized bills, all at 2%. Everything else earns 0.5%, and there are no grocery or gas categories, so it works best next to a grocery card rather than as your only card.

What surprised me is the insurance. For $0, it includes 3-day travel insurance with up to $5,000,000 of emergency care, trip cancellation and baggage cover, plus $1,000 mobile device insurance. If your trips are short weekends or cross-border drives, that coverage is worth more than the cash back.

The bonus

Welcome offer

There is no welcome bonus on the Desjardins Cash Back Mastercard as of October 13, 2026. The product page leads with the earn rates and the insurance instead.

Without a sign-up offer, the card has to win on its ongoing value: the 2% categories, the $0 fee and the insurance that comes with it.

Insider tip

Move your recurring bills (phone, internet, streaming) onto it early in the year. Pre-authorized payments earn 2% on the first $3,600 each calendar year, so steady monthly bills of about $300 use the full amount by December.

What it costs

Fees & eligibility

There is no annual fee, and additional cards are free as well. Purchases in a foreign currency carry a 2.5% conversion fee, so this is not a card for spending abroad.

The interest rate is 20.9% on purchases and 21.9% on cash advances, and balance transfers are treated as cash advances. You have a 21-day grace period from the statement date to pay in full without interest. The product page states no minimum income, though the application asks for your gross income.

Annual fee$0

Supplementary card$0

Points per dollar

Earning rewards

Four categories earn 2%: restaurants (including fast food), entertainment (concerts, theatre, movies, attractions, amusement parks, zoos), alternative transportation (local transit, taxis, limousines, buses and public EV charging stations) and pre-authorized payments billed at regular intervals. Everything else earns 0.5%.

Restaurants and pre-authorized payments are capped: the 2% rate applies to the first $3,600 of purchases in each of those categories per calendar year, then drops to 0.5% until January. Entertainment and transportation have no cap. Categories follow the merchant category code the network assigns, so a restaurant inside another store may not count.

RestaurantsRestaurants and fast food; first $3,600 a year, then 0.5%2%

Pre-authorized paymentsRecurring bills charged by a service provider; first $3,600 a year, then 0.5%2%

Alternative transportationLocal transit, taxis, limousines, buses and public EV charging; no cap2%

EntertainmentConcerts, theatre, movies, attractions, amusement parks, zoos; no cap2%

Everything elseAll other eligible purchases0.5%

The $3,600 limits reset every January 1. Cash advances, money orders, buying foreign currency, interest and casino purchases earn nothing, and returns reduce your cash back balance.

Getting value out

Redeeming rewards

There is nothing to redeem by hand. Each time your balance reaches $25, Desjardins applies it as a credit to your card account automatically.

If you would rather have a cheque, you can ask for one within 60 days of an automatic credit. If you close the account, you have 90 days to move the cash back to another Desjardins cash back card or convert it to BONUSDOLLARS at 1:1, so don't close it with a balance you can't use.

Automatic account creditApplied every time your cash back reaches $25.

Cheque on requestAsk within 60 days of an automatic credit to receive it as a cheque instead.

Switching cardsCash back moves 1:1 to BONUSDOLLARS if you change to a Desjardins rewards card.

Beyond the points

Perks & benefits

The everyday perk is car rental discounts: up to 15% off the base rate at Hertz and up to 10% at Thrifty and Dollar, with no young-driver or additional-driver fee at participating locations. Hertz also offers a reduced-rate loss damage waiver in Canada and the US.

There is no lounge access, credit or status. Additional cards are free, and the card includes text security alerts and Desjardins Identity Protection.

Hertz discountUp to 15% off the base rental rate, plus no young-driver or additional-driver fee at participating locations.

Thrifty and Dollar discountUp to 10% off the base rental rate.

Free additional cardsNo annual fee for additional cardholders.

Identity protectionDesjardins Identity Protection and text alerts for unusual activity.

Coverage included

Insurance

The travel insurance only covers trips of 3 days or less, but within that window it is real coverage. Emergency health care pays up to $5,000,000 per person for trips outside your home province, for the cardholder, spouse and children travelling with them, up to age 75. Trip cancellation pays $500 per person before departure and $1,000 for changes during the trip when you paid with the card, and baggage cover pays up to $500 per person, including delays over 6 hours.

On the purchase side, mobile device insurance pays up to $1,000 for loss, theft, damage or mechanical failure, after a $25 to $100 deductible, if the device is bought on the card or financed through a wireless plan with the monthly bills on the card. Purchase protection (90 days) and extended warranty (up to 1 extra year) cover up to $10,000 per item, with a $50,000 lifetime account limit. For longer trips you have to buy an extension from Desjardins Insurance, and the 3 included days are discounted.

Emergency health careUp to $5,000,000 per person for trips of 3 days or less outside your home province; ages 75 and under. Conditions must be stable 90 days before departure (182 days at 55 and over).

Trip cancellation$500 per person before departure, $1,000 for changes during the trip; trip costs paid with the card.

BaggageUp to $500 per person per trip for loss, theft or damage, or for essentials when bags are delayed over 6 hours.

AccidentUp to $10,000 during a covered trip, such as aboard a plane when the full ticket is on the card.

Mobile deviceUp to $1,000 per claim; $25 to $100 deductible, 2% monthly depreciation, 1 claim per 12 months.

Purchase protection and extended warranty90 days of loss, theft and damage cover and up to 1 extra year of warranty; $10,000 per item, $50,000 lifetime.

Opinion

My take

JasonRated 5.2 / 10

I'd get the Desjardins Cash Back Mastercard as a no-fee second card if you eat out, take taxis or transit, and want short-trip travel insurance without paying for it; I'd skip it as a main card, since groceries and gas earn only 0.5%.

The insurance is the part I'd value most. A $0 card with emergency medical, trip cancellation and $1,000 phone cover is rare, and for weekend trips to the US it can stand in for a separate policy. Just remember the 3-day limit: a four-day trip is not covered unless you extend it.

As an earner it is narrower. The restaurant and bill categories top out at $72 a year each in 2% cash back, and the uncapped categories, entertainment and transportation, are not big spending lines for most people. I'd pair it with a grocery card and keep this one for dining, bills and short trips.

The good

$0 annual fee with 3-day travel insurance, including $5,000,000 emergency care
2% on restaurants, entertainment, transit, taxis and pre-authorized payments
Mobile device insurance up to $1,000

The catch

Only 0.5% on groceries, gas and everything else
2% on restaurants and bills stops after $3,600 a year each
2.5% foreign currency conversion fee

— Jason

Questions

Frequently asked

Is there an annual fee?

No. The Desjardins Cash Back Mastercard has no annual fee, and additional cards are free.

Which purchases earn 2%?

Restaurants, entertainment, alternative transportation (local transit, taxis, limousines, buses and public EV charging) and pre-authorized payments. Restaurants and pre-authorized payments earn 2% on the first $3,600 each per calendar year; everything else earns 0.5%.

How do I get my cash back?

It is credited to your card account automatically every time you reach $25. You can ask for a cheque instead within 60 days of a credit.

Does a no-fee card really include travel medical insurance?

Yes, for trips of 3 days or less. Emergency health care covers up to $5,000,000 per person for the cardholder, spouse and children travelling together, up to age 75. Longer trips need extended coverage bought from Desjardins Insurance.

Is my phone covered?

Yes. Mobile device insurance pays up to $1,000 for loss, theft, accidental damage or mechanical failure when the device is bought on the card or financed through a wireless plan, and the monthly wireless bills are charged to the card. A $25 to $100 deductible applies.

Is there a foreign transaction fee?

Yes, 2.5% of the converted amount on purchases in a foreign currency.

Is there a minimum income?

The product page does not list one. The application asks for your gross income, employment status and monthly housing costs.