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There are many reasons why people carry credit cards. Generally, though, most people would agree that they provide simple convenience and may have a few bonus features that really add up in the end. The Pharmaprix MasterCard Credit Card offers all of this to financial customers in Canada.
It is very common, these days to find companies of nearly every industry offering credit card affiliate program to help improve customer satisfaction and retain profits. You may be familiar with things like Frequent Flyer programs that allow you to earn air miles on your favorite airline just for making purchases with your credit card. The newest programs offer the same principles but expand the earnings to a more casual outlet.
The Program
Take the Pharmaprix Master Card, for example. This credit card, which is only available in Canada, rewards customer loyalty to Pharmaprix. If you have a Pharmaprix Optimum Card and you are approved for this MasterCard you can earn significantly more rewards points than most credit cards offer.
- Earn 10 points on the dollar that you spend at Pharmaprix when you show them your Pharmaprix Optimum shopping club card at the register
- Earn an additional 15 points (for a total of 25 points on the dollar) when you show your Pharmaprix Optimum shopping at the register and then pay with your Pharmaprix MasterCard Credit Card
- Earn 5 points on the dollar on everything else that you purchase with your Pharmaprix Card
As you can see, these points add up quickly, particularly when you consider how many things you could purchase with your credit card on a daily or even weekly basis!
The Credit Card
While it is always fun to earn points and redeem them for great rewards, the most important aspect of a new credit card is the interest rates. After all, what good are rewards points if you are afraid to charge anything to your card because the rates are so high? Thankfully, the Pharmaprix Credit Card has some of the most competitive rates on the market today, and easily among the simplest.
- There is one standard rate that applies to balance transfers, purchases, and cheques cash advances
- The standard rate is highly competitive across the market
- There is a significantly low introductory rate on balance transfers and cheques advances that you make within the first 120 days of opening your account
- The introductory rate lasts for 6 months.
Although this all sounds very good, you need to remember that the benefit is only applicable if you stay in good standing. Make your payments on time or you could find yourself paying a 5% default rate increase until you restore your good standing.
Additional Benefits and Features
Of course, this Credit Card also offers a few other convenient MasterCard features. As a valued financial customer you will appreciate
- 24-hour fraud protection
- Additional security features and protection from Chip & PIN technology
- Convenient, safe, and efficient purchasing power with PayPass
- Free online account access
- Superior 24-hour customer care
- The choice of a blue, silver, green, red, or lavender-colored card
Penalties and Optional Fees
Despite the convenient features, there are several fees associated with the Pharmaprix MasterCard Credit Card. Most of these are penalties assessed for unwanted behavior including
- Returned payments
- Returned cash advances
- Exceeding your credit limit
- Letting your account go dormant (for at least one full year)
- Requesting additional paper copies of your monthly billing statement
While penalty fees are assessed for things that you try to avoid, there are also fees associated with some of the optional services available with this card. These fees are more like service or convenience charges. This could include things like
- Cash advances (1% or a minimum amount)
- Balance transfers (1% or a minimum amount)
- Cash advances (1% or a minimum amount)
- Wire transfers (1% or a minimum amount)
- Foreign currency exchange (2.5% when you use your card to pay in foreign countries)
Finally, you might appreciate knowing that the Pharmaprix Card has no annual fee!
Conclusion
With a generous rewards program and the absence of annual fee, the Pharmaprix MasterCard Credit Card is a considerably good offer. Because of the low introductory rates and convenient features this card could quickly become very popular in this tough economy.
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