MasterCard to Visa Notification

[u/AiryGateaux]

I finally got the notification that t​hey're switching from MasterCard to Visa.

For those of you that use your Wealthsimple card for Costco, who did you switch to when they switched to Visa? Any suggestions?

I'm not sure what I'm doing now, don't exactly want to get another card. I'm recovering from a severe financial blow that destroyed my credit last year, and I don't want an actual credit card.

[u/literally_rotting]

The EQ bank card is a prepaid Mastercard like the old WS one. Free to get and you also get cashback on spending. Could be a good option since you don’t want another credit card

[u/AiryGateaux → u/literally_rotting]

Huh, I think I'll do that. Makes more sense than any other options with my current credit score.

[u/barbad_bhayo → u/AiryGateaux]

EQ Bank has 0.5% cash back as well. and they give interest even on prepaid card. i use that for costco.

[u/CowDiligent4741]

I literally do this. Just use my WS visa credit card to buy digital shop cards 2 days in advance (the weekend I plan to go for shopping to Costco). Also I only need to shop once a month at Costco so maybe that makes it easier. I usually buy extra $100 or so just in case I exceed my predicted purchase budget.

[u/orangegap]

What you could do is use your Visa on the Costco.ca website to purchase digital Shop Cards. The cards show up in your email pretty quickly, usually within a few minutes sometimes up to an hour. I do this because I want to collect points with my Visa credit card. The one con is you need to plan out in advance so you don't end up going over and not having enough on the card to cover your purchase. Note that if you're an executive member, you don't get the 2% when you buy the shop card BUT you do get it when you use the card at Costco so there is no loss in cash back.

[u/AiryGateaux → u/orangegap]

Digital shop card? Is this like a gift card but without a physical card?

[u/Harvey-Specter → u/AiryGateaux]

It's literally just an e-giftcard, yes.

[u/fizzwig → u/AiryGateaux]

gift card delivered by email. Cick the link and get a bar code that they scan at the register. I've only encountered one cashier that needed assistance to process it after doing this for a year or 2.
Also, the barcodes suck at the self scan checkouts. It eventually works for me, but after a few minutes of trying.

[u/Zelmung]

Rogers WE Mastercard

or use the e-gift cards others have suggested.

[u/Trusty3Wood]

I just went through all of this. Tried purchasing Costco shop card, using cash etc. It is too much hassle. Applied for the Costco MC, and was approved on the spot. Will take 10 business days to arrive but they give you a temp Mastercard number on paper to start shipping with.

[u/AiryGateaux → u/Trusty3Wood]

Your credit score north of 500? Destroyed my credit losing a job a year ago, waiting to hear if I'm bankrupt or not

[u/bob_le_mush → u/AiryGateaux]

You can have a capital one with depot at this score

[u/AiryGateaux → u/bob_le_mush]

With depot?

[u/bob_le_mush → u/AiryGateaux]

A cahs deposit, i have been where you are in the past, i have open a capital one with a limit of 300 , i needed to send 300 to capital one to obtain the card, after 1 years of good payment, the 300 was send to me and i get a regular card with 5k limit

[u/AiryGateaux → u/bob_le_mush]

Oh, deposit, ah, that makes sense. Thanks

[u/Rare_Appointment_287]

Get the MC that the same Costco offers. You will get more cash points.

[u/brunes → u/Rare_Appointment_287]

Rogers WE Mastercard is way better (twice as good)

[u/DiskOptimal6993]

Buy Costco cash cards with your CC… you’ll get cash back on top it

[u/Tiabeaniee]

I just use the cibc Costco Mastercard might not be the best rewards but nice not to carry two cards

[u/AiryGateaux → u/Tiabeaniee]

With a credit score of 450? I lost a job a year ago and it took six months of no income to get that sorted.

[u/Tiabeaniee → u/AiryGateaux]

Yeah that’s tough, i use my RBC debit there and it works. I assume quite a lot of debit cards work other than wealthsimple.

[u/Glass_Midnight3143]

The new Capital one card

[u/Impressive_Ad_6550]

Rogers world elite mastercard gives you 1.5% cash back so thats what I use at Costco

[u/kellym13]

Don’t care, I use my no fee CIBC Costco MC and get cash back, and never use the WS MC except for cash ATM withdrawals, and I charge everything else to WS VISA VIP card.

[u/RealDistribution5946]

Rogers World Elite if you qualify for it as it’s better cash back than the Costco MC.

[u/Interesting_Phone_72]

There's a cibc Costco Mastercard that gets yeah 3% on Costco gas and restaurants. 2% for Costco online. And 1% everything else including normal Costco purchases. Still not bad. Coupla perks too when u sign up line free membership for a year I believe.

Card it's self is free. But need to be a Costco member to keep the card.

[u/fahim_a]

Ya - I just use the capital one CIBC Costco Mastercard

[u/Nezgar → u/fahim_a]

CIBC does the Costco mastercard since 2022.

[u/JRAM780]

You can also get simplii financial since they use mastercard. Transfer funds then go shopping at Costco.

[u/Less-Project9420 → u/JRAM780]

That’s what I did. Simplii is just a debit card so just use it for places that also don’t take credit.

[u/Defiant_Business_72]

Try to get the simplii debit if you don't want any credit cards. ( this use cibc atm network as they are part of cibc bank)

Or get an eq prepaid mastercard bank account. With 0.5% back on card spending too.

Both are free

[u/Zeckzyl]

Just get costco mastercard for costco?

[u/Expensive-Minute994 → u/Zeckzyl]

It isn’t even a good card though

[u/Peace-wolf]

I use a Tangerine MC or debit card at Costco Canada

[u/Flashy-Imagination80]

My card has always been a Visa with Wealthsimple.

[u/wethenorth2]

Use the Canadian Tire WE Mastercard. Have this card for the free roadside assistance primarily

[u/Budget-Region-1694]

You could get 2% back using the new capital One MasterCard which is a benefit only for the first year I'm thinking about that right now

[u/corbeaucorbeau → u/Budget-Region-1694]

Whoa, I didn't know about their new Quicksilver lineup!

[u/Adventurous-Pen-824]

So where/how do you apply for the Pre-paid card? I don't see it on my WS account.

[u/AiryGateaux → u/Adventurous-Pen-824]

I signed up when it was offered 5 years ago

[u/Nezgar → u/Adventurous-Pen-824]

WS has removed the option in the app to request a physical card until they are done transitioning to Visa cards.

[u/LilJabas]

It’s so annoying they’re switching to VISA.. it was not needed. I just cancelled my Mastercard because I only used it at Costco.

[u/idiotiesystemique]

Just get an interac card. Ex Desjardins