Types of Laurentian Bank credit cards
At Laurentian Bank, you can choose a credit card that suits your needs best.
Premium. Premium credit cards involve a 19.99% interest rate on purchases and a 21.99% interest rate on balance transfers, cash advances, and Visa cheques. With such a card, you can earn rewards on eligible purchases and redeem them further. The annual fee for premium credit cards is $130. You can also issue an additional card for $50.
Cashback. Cash back cards feature a 19.99% interest rate on purchases and a 21.99% interest rate on balance transfers, cash advances, and Visa cheques. These cards allow you to earn cash back points on eligible purchases and redeem them anytime when your DOLLAR credits balance is $25 or higher. The annual fee for cash-back credit cards is $65, and issuing an additional card is free of charge.
Rewards. Rewards credit cards involve a 19.99% interest rate on purchases and a 21.99% interest rate on balance transfers, cash advances, and Visa cheques. You can redeem the rewards earned on the purchases made with a rewards card for gift cards, Laurentian Bank financial products, or merchandise. If your monthly purchases exceed $350, you can waive annual fees. Otherwise, your annual fee will be $3.50. Issuing an additional card is free of charge.
Reduced rate. Reduced rate credit cards from Laurentian Bank feature a 12.49% interest rate all year long for an annual fee of $30. In addition, you can issue an additional car for free if needed.
How to open a Laurentian Bank credit card
To apply for a Laurentian Bank credit card, you need to either visit a branch near you or contact the bank by phone at 1 855 255-5445.
Requirements
You must be a Canadian resident at the age of majority in the province where you live to apply for a Laurentian Bank credit card.
When reviewing your application, Laurentian Bank’s financial advisors will verify your income and credit score. When applying, have the following documents at hand:
A valid government-issued photo ID (a passport or driver’s license)
Social Insurance Number
Proof of income or employment (pay stubs or bank statements)
Information about your income, expenses, assets you own, and financial liabilities
To be eligible for Laurentian Bank Visa Infinite credit card (premium type of card), you must have a $60,000 personal or $100,000 annual household income.
For Visa Black Reward Me, there are no such strict eligibility requirements, and even students are welcome to apply.
For other types of credit cards, Laurentian Bank doesn’t share the eligibility requirements on the website.
Pros and cons
Credit cards from Laurentian Banks have the following advantages:
No limits on the amount of cashback and the number of reward points accumulated
The rewards don’t expire
A variety of options to redeem your rewards, including gift cards, Laurentian Bank financial products, and merchandise
Visa Black Reward Me cards are available for students
The potential drawbacks are:
Online application isn’t available for credit cards
Cash back and rewards cards like Visa DOLLARS and VISA BLACK Reward Me cards involve processing fees for balance transfers and Visa cheques in the amount of 2% of the transferred sum
How to make a payment
You can pay your Laurentian Bank credit card balance in any of the following ways:
Through your LBCDirect online banking account
Through the Laurentian Bank mobile app
At a Laurentian Bank ATM
At your local Laurentian Bank branch
By phone