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ATB Gold My Rewards Mastercard Review

ATB Gold My Rewards Mastercard review

3.0

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Welcome Offer

Upon approval, you'll receive 10,000 welcome bonus points ($50 value) when you use your new card for the first time.

19.99% - 19.99% Variable APR

22.99% Balance Transfer Rate

22.99% - 22.99% Cash Advance APR

$0 Annual Fee

2.9% Foreign Transaction Fee 2.9%

Good Recommended Credit Score

3.0

ATB Gold My Rewards Mastercard review

Quick overview

Quick overview of the ATB Gold My Rewards Mastercard®

The ATB Gold My Rewards Mastercard® is a no-annual-fee rewards credit card that offers a modest welcome bonus, an accelerated earn rate on grocery and gasoline purchases, digital streaming, subscriptions and entertainment. Other perks include up to eight types of insurance coverage, including car rental insurance and a flexible rewards program.

Unfortunately, while the card has some travel-related insurance coverage, it doesn’t offer any incentive to redeem points for travel — all rewards have the same redemption rates — and you must be an Alberta resident to qualify for the card. Read on as we cover the key features and pros and cons to help determine if the ATB Gold My Rewards Mastercard® is right for you. 

Who's it for?

Who’s the ATB Gold My Rewards Mastercard® for?

The ATB Gold My Rewards Mastercard® is ideal for Alberta residents who want access to excellent insurance coverage without an annual fee. ATB Financial offers a much better credit card, the ATB World Elite Mastercard, but it charges a yearly fee of $120 and is best suited for frequent travelers who can maximize its benefits. If you live outside Alberta, want an excellent welcome bonus or want to maximize your points earning, this card is not for you.

Pros and cons

Pros and cons

Pros

Pros

  • No annual fee

  • Bonus earn rates on gas, groceries, digital streaming, subscriptions and entertainment

  • Excellent insurance coverage (eight different types)

  • Discounts of up to 25% at Avis and Budget car rental locations

Cons

Cons

  • You must be an Alberta resident to qualify

  • Mediocre welcome offer

  • Rewards points are only worth 0.5 cents when redeemed

Welcome bonus

ATB Gold My Rewards Mastercard® welcome bonus

The ATB Gold My Rewards offers a modest 10,000 welcome bonus points ($50 value) when you use your new card for the first time.

How to earn rewards

How to earn ATB MY Rewards points with the ATB Gold My Rewards Mastercard®

This card offers an accelerated earn rate of 3x points per dollar (1.5%) on up to $10,000 of annual spending on groceries, gas, digital streaming services and/or subscriptions and entertainment. Once the yearly spending cap is exceeded, the earn rate drops to the standard 1.5x points per dollar (0.75%), which is unlimited. 

The bonus earn rate is respectable for a no-annual-fee credit card. However, if you spend a lot of money on groceries and gas, you may get frustrated by the $1$10,000 annual spending cap. In that case, finding a card with a higher limit, or no limit at all, would be worthwhile. 

Remember that you can stack your rewards earnings by pairing your ATB Gold My Rewards card with another loyalty program, such as PC Optimum or Petro Canada (Petro-Points).

How to redeem

How to redeem ATB My Rewards points

ATB Financial offers several ways to redeem rewards, which can be spent on travel, popular merchandise, statement credits, experiences and merchandise unique to Alberta and charitable donations. ATB My Rewards points are worth 0.5 cents each, or $50 for every 10,000 points.  

To redeem points, you’ll need to open an ATB My Rewards account online. Once in, you can link your My Rewards account to your ATB Gold My Rewards Mastercard. You can browse the catalogue for merchandise or redeem points for cash. Travel bookings can also be made online or by telephone, though a $25 handling fee will apply for telephone bookings. ATB My Rewards is not ideal for travel bookings because, unlike some credit card travel rewards programs, it doesn’t offer higher redemption rates for travel. 

Key benefits

ATB Gold My Rewards Mastercard® key benefits

The ATB Gold My Rewards Mastercard® benefits fall short of the premium ATB World Elite card, but it doesn’t charge an annual fee. Here are two of its top features:  

  1. 1.

    Accelerated earn rate on groceries and gas: Cardholders earn 3 points per $1 spent on eligible groceries, gas, digital streaming services and/or subscriptions, and entertainment. It’s a solid rate for a no-fee card; just keep the $$10,000 annual spending cap in mind. 

  2. 2.

    Comprehensive insurance coverage: This card offers six types of insurance coverage, including car rental collision/loss damage waiver, flight delay and delayed luggage, mobile device coverage, purchase assurance and extended warranty protection. Purchases are also protected with Mastercard Zero Liability coverage. 

Insurance

ATB Gold My Rewards Mastercard® insurance coverage

Insurance type
Coverage limits
Car rental collision/ damage waiver insurance
Up to actual cash value of the damaged or stolen rental vehicle and other eligible expenses
Common carrier/accidental death and dismemberment
Up to $300,000
Car rental/accidental death and dismemberment
$65,000
Flight delay insurance 
$500
Delayed luggage insurance
$500
Mobile device insurance 
Up to $11,500
Purchase assurance 
$10,000 per item/$50,000 per account lifetime
Extended warranty
The cost of repair or replacement or the original purchase price, whichever is less
Extra benefits

Extra benefits of the ATB Gold My Rewards Mastercard®

The ATB Gold My Rewards doesn’t offer much beyond the welcome bonus, rewards and insurance coverage. This is not surprising, given that it’s a no-fee credit card. Here are the additional benefits: 

  • Up to 25% off car rentals at Avis and Budget  
  • 24/7 travel assistance services
  • Purchases protected with Mastercard Zero Liability
  • Customize your card from over 30 MyPic images 
What users say

What people have to say about the ATB Gold My Rewards Mastercard®

I couldn’t locate any current online commentary regarding the ATB Gold My Rewards Mastercard®. This is hardly surprising, given that ATB is an Alberta-only financial institution, and the Gold My Rewards is not its flagship card. Most online mentions of ATB credit cards pertain to its World Elite Mastercard®, which has excellent benefits, including a generous welcome bonus and complimentary airport lounge access. 

Other ATB Gold My Rewards comments online highlight the card’s insurance coverage but point out its low-value rewards program and Alberta-resident requirements as drawbacks.  

How it compares

How the ATB Gold My Rewards Mastercard® compares

Here’s a closer look at how the ATB Gold My Rewards stacks up against two popular no-annual-fee credit cards. 

ATB Gold My Rewards Mastercard® vs. MBNA Rewards Platinum Plus Mastercard

MBNA Rewards Platinum Plus® Mastercard®

Apply now

4.0

up to 10K pts

Welcome offer

Good

Suggested credit score

Earn 4 points per $1 spent on eligible restaurant, grocery, digital media, membership, and household utility purchases until $10,000 is spent annually. You could also receive up to 10,000 bonus points.

Apply now

Pros

  • No annual fee

  • Accelerated rewards on groceries, restaurants, and more

  • Simple point structure with flexible redemption options

  • Generous introductory bonus of up to 10,000 points

  • No cap on total points earned

Cons

  • Lower cash back redemption rate compared to designated cash back cards

  • Limited benefits beyond rewards

  • Points system may not appeal to cash back enthusiasts

  • Higher earning categories have a spending cap of $10,000 annually

  • Better suited for travel rewards than cash back

Eligibility

Recommended Credit Score

Good

Pros

  • No annual fee

  • Accelerated rewards on groceries, restaurants, and more

  • Simple point structure with flexible redemption options

  • Generous introductory bonus of up to 10,000 points

  • No cap on total points earned

Cons

  • Lower cash back redemption rate compared to designated cash back cards

  • Limited benefits beyond rewards

  • Points system may not appeal to cash back enthusiasts

  • Higher earning categories have a spending cap of $10,000 annually

  • Better suited for travel rewards than cash back

Eligibility

Recommended Credit Score

Good

Get up to 10,000 MBNA Rewards points†† as an introductory bonus (see details below)

10,000

Purchase APR

19.99%

Balance Transfer Rate

22.99%

Cash Advance APR

24.99%

Annual Fee

$0

Foreign Transaction Fee

2.5%

The MBNA Rewards Platinum Plus Mastercard is similar to the ATB Gold My Rewards in that it’s a no-annual-fee credit card that allows you to earn rewards that can be redeemed in various ways. However, its rewards program offers more potential value. 

First, the card comes with a decent welcome bonus for new accounts:

  • New cardholders can get up to 10,000 MBNA Rewards points †† when they sign up for paperless e-statements (5K points ††) and make $500 or more in purchases within the first 90 days (another 5K points ††).

In addition to that welcome bonus , you’ll earn 2 MBNA Rewards points on groceries, dining, streaming, memberships and recurring bills and 1 MBNA Rewards point on all other purchases. And MBNA rewards have a higher value when you redeem your points for travel (10,000 points is worth up to $100 in travel, instead of the standard $50).

The ATB Gold My Rewards offers more comprehensive insurance coverage — the MBNA Rewards card only offers extended warranty, purchase assurance and mobile device insurance coverage. 

If maximizing rewards is your priority, MBNA is your best bet. For added peace of mind, consider the ATB Gold My Rewards for better insurance coverage.  

Disclosures:

  • ‡, ††, ✪, ***, Terms and Conditions apply.

    This offer is not available for residents of Quebec. For residents of Quebec, please click here.

    Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the “Apply Now” button.

    The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank. ®MBNA and other-trademarks are the property of The Toronto-Dominion Bank.

ATB Gold My Rewards Mastercard® vs. PC® World Elite Mastercard®

PC® World Elite Mastercard®

Apply now

4.0

Fair

Suggested credit score

to receive the latest news, tips and offers by email

Apply now

Pros

  • No annual fee

  • High earn rates in certain stores

  • Easy, straightforward redemptions

  • Points don’t expire provided your account stays active and in good standing

  • Special events allow you to earn extra points

Cons

  • High income requirement to qualify

  • Accelerated earn rates are limited to certain partner stores, and points can be redeemed only for purchases within Loblaw banner stores

  • Points can’t be transferred to other loyalty programs

  • The included travel insurance is very limited

Eligibility

Recommended Credit Score

Fair

Required Annual Personal Income

$80,000

Pros

  • No annual fee

  • High earn rates in certain stores

  • Easy, straightforward redemptions

  • Points don’t expire provided your account stays active and in good standing

  • Special events allow you to earn extra points

Cons

  • High income requirement to qualify

  • Accelerated earn rates are limited to certain partner stores, and points can be redeemed only for purchases within Loblaw banner stores

  • Points can’t be transferred to other loyalty programs

  • The included travel insurance is very limited

Eligibility

Recommended Credit Score

Fair

Required Annual Personal Income

$80,000

* 45 points per $1 spent at Shoppers Drug Mart/Pharmaprix

45 points

Earn 30 points per litre for gas purchased at Esso™ or Mobil™ stations

30 points

Earn 30 points per $1 spent on PC Travel services

30 points

Earn 30 points per $1 spent at Loblaw Banner Grocery Stores (includes Loblaws, No Frills, Valu-Mart, Independent Grocers, Zehrs, Real Canadian Superstore, Fortinos, etc.)

30 points

Earn 10 points per $1 spent everywhere else

10 points

Purchase APR

21.99%

Balance Transfer Rate

5%

Cash Advance APR

22.97%

Annual Fee

$0

The PC World Elite Mastercard is uncommon because it’s a no-fee credit card offering World Elite benefits. It also has a higher bonus earn rate than the ATB Gold My Rewards. You can earn up to 45 PC Optimum points per dollar, which is a rate of 4.5%. 

But there’s a catch. That rate is only available when shopping at Shoppers Drug Mart, though you can earn 30 points per dollar (3%) at Loblaws and its partner stores and Esso or Mobil gas stations. If you’re a PC Optimum member and shop frequently at its PC-affiliated retailers, this is the card to get. If not, you’ll likely find earning points with the ATB Gold My Rewards easier.  

The other catch with the PC World Elite is that its redemptions are less flexible. You can only use your points towards purchases at the Loblaws family of stores. Lastly, the PC World Elite has a high minimum annual income threshold of $80,000 per individual. 

Disclosures:

  • Sponsored advertising. President’s Choice Financial® Mastercard® is provided by President’s Choice Bank. The PC Optimum™ program is provided by President's Choice Services Inc. President’s Choice Bank is not responsible for the contents of this site, including any editorials or reviews that may appear on this site. For complete information regarding the PC® Mastercard®, PC® World Mastercard®, or PC® World Elite Mastercard®, please click on the “Apply Now” or other applicable button.
Is it worth it?

Is the ATB Gold My Rewards Mastercard® worth it?

If you’re a resident of Alberta and/or an ATB Financial client looking for a credit card with comprehensive insurance coverage without an annual fee, then the ATM Gold My Rewards Mastercard® is worth considering. You’ll also earn some rewards, but there are other no-annual-fee cards with higher earn rates, so if maximizing rewards is your top priority, we recommend you shop around. 

Eligibility

ATB Gold My Rewards Mastercard® eligibility criteria

You are eligible to apply for an ATB Gold My Rewards Mastercard® if you’re a resident of Alberta, are at least 18 years of age, have not declared bankruptcy within five years and intend to use the card only for personal use. 

FAQs

FAQs

  • How much is one ATB My Rewards point worth?

    +

    A single ATM My Rewards point is worth 0.5 cents regardless of how you redeem your points. So, 1,000 points would be worth $5, 10,000 points $50, and so on.

  • How can I use my ATB My Rewards balance?

    +

    You can redeem ATM My Rewards in various ways, including for travel or merchandise, to pay your Mastercard bill, make an investment contribution, make a bank account deposit, make payment on a loan or make a charitable donation. You can also transfer your points to another ATB My Rewards account.

  • How do I contact ATB My Rewards support?

    +

    You can reach ATB My Rewards customer support by calling 1-844-949-0820 or via an online contact form.

Colin Graves Freelance Writer

Colin Graves is a Winnipeg-based financial writer and editor whose work has been featured in publications such as Time, MoneySense, MapleMoney, Retire Happy, The College Investor, and more. Before becoming a full-time writer, Colin was a bank manager for over 15 years.

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