Desjardins Odyssey Visa Infinite Privilege review

How the Odyssey Visa Infinite Privilege earns

Rewards are paid in Desjardins BONUSDOLLARS, and the rates work as percentages of what you spend. Restaurants, entertainment and alternative transportation earn 4%, groceries and travel earn 3%, and everything else earns 1.5%. Travel earns 3% on the first $25,000 of travel purchases each year, then drops to 1.5%.

Here’s an example: $1,000 a month split between $400 on restaurants and entertainment, $300 on groceries and $300 on everything else. That earns 4% on the first $400, 3% on the next $300 and 1.5% on the rest, for an average return of 2.95% across the budget, nearly double the 1.5% base rate.

Lounge access and travel perks

Travellers who fly out of Montreal get the most from this card. It includes 12 free Desjardins Odyssey Lounge passes a year at Montreal-Trudeau airport, plus a Visa Airport Companion membership with 6 complimentary lounge visits a year, for 18 visits in total.

You also get 24/7 Visa Infinite Privilege Concierge, Luxury Hotel Collection benefits, and car rental discounts of up to 25% at Hertz, along with discounts at Thrifty and Dollar.

Fees, interest and the fine print

The annual fee is $295 for Desjardins members and $395 for non-members, a $100 difference every year. If you’re not already a member, factor that into your decision.

The purchase rate is 11.9% and cash advances are 12.9%, far below the 20.99% to 21.99% charged by premium cards such as the CIBC Aeroplan Visa Infinite Privilege and the American Express Aeroplan Reserve. Foreign currency purchases still carry a 2.5% fee, so $1,000 spent abroad adds about $25, which is worth weighing on a card built for travel.

Insurance coverage

Insurance is the card’s strongest feature. Travel coverage applies to trips of up to 60 consecutive days, though the medical coverage period depends on your age. Read the certificate for limits and exclusions before you travel.

• Travel emergency medical up to $5 million per person, for trips of up to 60 days (age-dependent)
• Trip cancellation up to $2,500 before departure, unlimited after departure
• Baggage insurance up to $2,500 per person, or $1,000 if delayed 4 or more hours
• Auto rental collision and loss damage for rentals of up to 48 days
• Mobile device insurance up to $1,500
• Purchase protection for 180 days and an extended warranty that triples the original, up to 2 extra years

Who it suits, and who should look elsewhere

The card suits Desjardins members who travel several times a year, especially through Montreal-Trudeau, and who spend heavily on dining, entertainment and alternative transportation. The low interest rate is a useful safety net if you occasionally carry a balance.

It’s harder to justify if you’re not a member and would pay $395, if you rarely fly from Montreal, or if you spend often in foreign currencies, where the 2.5% fee chips away at what you earn.

How it compares

The Desjardins Odyssey World Elite Mastercard costs $130 a year and also earns BONUSDOLLARS, topping out at 3% on groceries. It’s a lower-cost way to earn with Desjardins if you don’t need the Privilege card’s premium extras, so compare its perks and insurance before you choose.

The Scotiabank Passport Visa Infinite Privilege Card charges no foreign transaction fee, earns up to 6x through the Scene+ travel portal and costs $599 a year. It’s more expensive, but heavy spenders abroad avoid the 2.5% fee the Desjardins card charges.

Before you apply

The recommended credit score is 760 or higher, and Desjardins makes the final decision based on your full credit profile. Confirm the member and non-member fees, earn rates and insurance terms on the Desjardins website before you apply.