credit card Brim Mastercard

The BRIM Financial Mastercard arrived on the shortlist for Canadian travellers because it advertised true no foreign transaction fees. For Canadians who spend abroad or plan to live overseas for months or years, foreign transaction fees can quickly add up. This review covers real-world experience using the BRIM Mastercard over several months while living in New Zealand, outlining how the card performs, how rewards work, app usability, alternatives, and whether it still makes sense after recent policy changes.

Why many Canadians need a no-foreign-transaction-fee card

Most Canadian credit cards charge a 2.5 percent foreign transaction fee on top of the exchange rate. A few cards waive that fee only when purchases are made in the United States. For travellers and expats who will spend outside the U.S., those fees become a major pain point. A genuine no-foreign-transaction-fee card can save hundreds or thousands over time, especially when living abroad or travelling long-term.

Alternatives considered

• Home Trust Preferred Visa: No foreign transaction fees, but no points or cash back on foreign purchases. That lack of rewards was a deal-breaker for those who prefer to earn on every transaction.
• Other Canadian cards with foreign transaction fees: Some cards have high enough rewards or sign-up bonuses that they can offset the 2.5 percent fee for certain spending patterns. That option merits a comparison on a case-by-case basis.

BRIM Mastercard: Features and specifications

Key features as experienced in use:

• Reward rate: Originally 1 point per dollar spent, with 1,000 points equaling $10 in cash back (a 1% effective return). Points are redeemable on any purchase.
• Redeeming points: Points can be redeemed directly against individual transactions in the mobile app. In the app, swipe a transaction to the left and tap the redeem button to apply points to that purchase.
• Global Wi-Fi: BRIM includes access to Boingo global Wi-Fi according to its published benefits.
• Travel insurance: BRIM advertises travel-related insurance that can cover short trips for issues like medical emergencies or cancellations; the extent of coverage should be confirmed on BRIM’s insurance documents.
• No foreign transaction fees: This was the primary draw for Canadians spending abroad, making the card the only regularly used payment method in cashless locations while living overseas.

Important update

BRIM announced changes that materially affect its travel value proposition. As of March 17, 2024, BRIM introduced a 1.5 percent foreign transaction fee and altered the earn rate so cardholders now receive 1 point for every two dollars spent instead of 1 point per dollar. This reduces the effective cashback rate and reintroduces a foreign fee, albeit smaller than the typical 2.5 percent. Potential applicants should factor these changes into their decision and verify current terms on BRIM’s website before applying.

Real-world experience: delivery, app, and daily use

Application and delivery: The physical card took about a month to arrive after applying, and there was no consistent communication during the approval and mailing process. Applicants should allow ample time for delivery and not expect instant confirmation.

Mobile app: The mobile app is generally well laid out and makes daily banking easy. It allows direct redemption of rewards against purchases. However, some issues were reported: occasional app crashes and a period when logging in required a VPN for approximately a week. Overall usability was rated positively despite those glitches.

Daily usage abroad: The card worked reliably as the primary payment method in a largely cashless environment. Getting points on every purchase and the ability to apply them back to transactions made it convenient for ongoing travel expenses.

Fees, interest, and other fine print

• Foreign transaction fee: Originally advertised as none, but changed to 1.5 percent as of March 17, 2024. Check current BRIM terms for the latest fee schedule.
• Rewards value: With the old rate, 1,000 points equaled $10, so 1 point per dollar was roughly a 1 percent return. The new earn rate alters that math significantly.
• Interest rate: Interest depends on your account and whether balances are carried. Paying the statement balance in full avoids interest entirely. Prospective cardholders should review BRIM’s published interest rates before applying.

Perks worth noting

• Points redeemable on any transaction: Unique flexibility to apply rewards directly to purchases rather than limiting redemptions to travel partners or specific categories.
• Boingo global Wi-Fi access: Useful for travellers who frequently need Wi-Fi in airports and public places (verify Boingo access and terms).
• Travel insurance: Available coverage for short trips, though applicants should read policy details to confirm limits and exclusions.

Pros and cons

Pros

• Originally true no foreign transaction fee, making it very attractive for international spending.
• Rewards earned on all purchases and redeemable against any transaction through the app.
• Clean, usable mobile app and daily convenience while living abroad.
• Includes travel perks like global Wi-Fi access and basic travel insurance.

Cons

• Policy change reducing rewards and adding a 1.5 percent foreign transaction fee reduces value for travellers.
• Physical card delivery took about a month and lacked communication during the process.
• App instability reported at times, including crashes and login issues without a VPN.
• Earn rate and effective cashback are modest compared with premium travel cards that still may charge foreign fees.

Recommendation

The BRIM Mastercard was highly recommended when it offered true no foreign transaction fees and a 1 point per dollar earn rate. That combination made it one of the only practical Canadian options for travellers and expats needing frequent international purchases.

After the March 17, 2024 changes that introduce a 1.5 percent foreign transaction fee and reduce the earn rate to 1 point per two dollars, prospective applicants should re-evaluate their travel spend and compare alternatives. For some, BRIM may still be a good option especially if the remaining perks and flexibility to redeem points on any purchase align with their needs. For others, cards with strong sign-up bonuses or category-specific rewards might now offer a better net return even with a foreign fee.