Titanium MasterCard Canada Review

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There are tons of MasterCards available for users; these cards are designed to meet your financial needs and aid your finance. The Titanium Mastercard, also known as the Mastercard Titanium, is one of them.

This article will be reviewing the Titanium master card in Canada, its features, ideal users, pros, and cons.

The Titanium MasterCard

The Titanium Mastercard is a rewards credit card issued by Barclays Bank. It features a stylish design made of stainless steel and carbon. This card comes with travel and protection benefits suitable for people who travel a lot and seek a wide range of services and credits, all in one card. 

The Titanium Mastercard offers 1 point per CAD spent on all purchases. It comes with a relatively high annual fee of CA$195 and redeemable rewards at a value of 2 cents per airfare point. This card is designed for travelers with excellent credit scores, usually between 800 and 850.

Is the Titanium MasterCard right for you?

The Titanium MasterCard is ideal for travelers looking to maximize points or miles earning across spending categories. Below are some set of people who can leverage this card:

  • Reward strategist
  • Frequent diner
  • Head of household
  • Drivers/commuters

Features the Titanium MasterCard

The Titanium MasterCard has some uniques features, some of which include:

  • Fees

The Titanium MasterCard charges an annual fee of CA$195 right from the moment you get it. There is also a regular APR (annual percentage rate) of 14.99% that varies.

It also has a balance transfer rate of 3% of the amount transferred or CA$5 (whichever is greater). However, there is a zero rate for foreign transactions. 

  • Introductory offer

There is an introductory offer of interest-free APR on balance transfers in the first 45 days for the first 15 billing cycles from the transfer date.

  • Points Reward

The Titanium MasterCard offers you 1 point on every CAD you spend on purchases. Users can redeem these points at a value of 2 cents per point for airfare.

You can also redeem cashback as direct deposit or statement credit, car rentals, hotels, gift cards, and merchandise at the value of 1 cent per point.

There is no limit to the number of points you can earn, and you can be rest assured that your points won’t expire provided that your account remains open, active, and is in good standing. 

  • Benefits

One of Titanium MasterCard’s most unique benefits is its 24/Luxury Card Concierge that assists you with travel bookings and more.

It also includes insurance benefits like trip cancellations and interruption, cell phone protection, and airport meet-and-assist. Other standard perks include travel accident insurance, auto-rental collision waivers, amongst others.

  • Security

The Titanium MasterCard security features are up to standard. It offers Mastercard ID Theft Protection benefits. This will help you easily replace your card and notify the credit agencies if you become a victim of identity theft.

It also has the chip-and-PIN capability, allowing you to make purchases at unattended terminals abroad that may only accept such transactions. You can use the card anywhere in the world.

  • Support

Barclays Bank, which is the card issuer, offers customer support services 24/7. You can reach them via phone calls or through your account on the Luxury card app.

  • Cellphone coverage

In the case of theft or damage to your cellphone, you will receive extra coverage.

  • Point Redemption

When you want to redeem your points, you can call customer service through the number at the back of your card or visit your luxury card account.

To redeem points for airfare, you need to have at least 50 points. For other alternatives, except for gift cards and merchandise, redemption starts at 100 points.

The minimum points required for gift cards and merchandise depends on the item you want to redeem points for.

We advise that you use your airfare points instead of other redemption options to leverage your redemption value. By doing this, you will realize a 2 cents per point value, which is double the point value for all other options.

  • Application fee reimbursement

You’ll receive an automatic CA$100 statement credit for the cost of your Global Entry or TSA Precheck application fee.

  • Insurance coverage for lost or delayed luggage

If your baggage is delayed by more than four hours, Mastercard will reimburse you for up to CA$100 worth of emergency essentials, such as food or toiletries. The CA$100 per day coverage is valid for a maximum of three days.

  • Insurance coverage for trip cancellation or delay

You may be eligible for up to CA$5,000 worth of reimbursed expenses if your trip is canceled or delayed through no fault of your own.

  • Travel accident insurance

You get up to CA$250,000 insurance coverage for common carrier accidental death and dismemberment.

Pros of the Titanium MasterCard

The Mastercard Titanium card has the following advantages;

  • Introductory Offer

The introductory offer is arguably one of the best for balance transfers, although it does not have introductory APR offers for purchases.

  • Outstanding Reward Points

The points reward, especially from the airfare angle, is outstanding and quite rare.

  • Luxurious Offers

The benefits are premium and luxurious. It has quite a lot of benefits that are hard to find in just one single card.

  • Safe and secured

It has standard security measures against identity theft.

  • Global acceptance

It can be used anywhere in the world, even at unattended terminals.

Cons of the Titanium MasterCard

The Mastercard Titanium card has the following disadvantages;

  • The annual fee is quite expensive compared to its rewards. Also, you start to pay from the moment you get it.
  • It doesn’t offer welcome bonuses for the first-year waiver, as some cards do.
  • There are no one-time offers that encourage its customers after their first purchase.

Conclusion

Although other cards offer better rewards and benefits and don’t cost as much as the Titanium Mastercard card does, if you intend to use the card’s benefits and maximize your rewards regularly, it might be a good choice for you.

To maximize your rewards, redeem your points for airfare rather than the alternative redemption options to get double the reward. 

Before you get a Mastercard Titanium card, ensure that you compare the fees, benefits, bonuses, and other features with other cards. This will help you to make the right decision.

If you eventually decide to go for the Titanium Mastercard card, ensure you have a good credit score before applying.

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Avid researcher, freelance writer, and personal finance enthusiast passionate about financial education and literacy.

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Kareena Maya

Personal Finance and Travel Rewards Expert Contributor

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Kareena Maya is a freelance writer focused on the personal finance and travel spaces. He frequently writes about credit cards, banking, student loans, insurance, travel rewards and more. His work has been featured in publications such as Forbes Advisor, Bankrate, Credit Karma, Finance Buzz, The Ascent and Student Loan Planner.

Kareena Maya is a freelance writer focused on the personal finance and travel spaces. He frequently writes about credit cards, banking, student loans, insurance, travel rewards and more. His work has been featured in publications such as Forbes Advisor, Bankrate, Credit Karma, Finance Buzz, The Ascent and Student Loan Planner.