Canadians have an abundance of retail credit cards to choose from to finance purchases with major brands. But how does the Indigo Card compare when pitted against cards from other well-known stores?
This detailed guide will compare and contrast the Indigo Card with similar retail cards to analyze the pros, cons, fees and reward rates.
We’ll look at key competitors in the categories of books, fashion, groceries, and electronics so you can determine which card best suits your spending habits and offers the most value.
Indigo Card Overview
First, let’s examine the basics of the Indigo Card itself. Issued by TD Bank, it comes in a free basic Plum version and a paid Plum Plus premium version. Both offer:
- Accelerated earn rates at Indigo stores
- Plum Rewards points redeemable for discounts
- 1-year extended warranty on purchases
- Purchase protection and price matching
The Plum Plus Card adds benefits like:
- Higher earn rates
- Airport lounge access
- Free supplementary cards
- Concierge service
There are no foreign transaction fees. Both cards have 19.99% interest on purchases and $29 late payment fees.
Indigo vs. Amazon Credit Card
The Amazon Rewards Visa from MBNA is a top competitor for book and online shopping purchases. Here’s how the pros and cons shake out:
Indigo Card Pros
- No annual fee on basic card
- 5x rewards on books from Indigo
- Points have no expiry
Amazon Card Pros
- 5% back on all Amazon purchases
- 2% back at restaurants, gas stations, drugstores
- No FX fees on USD transactions
Indigo Card Cons
- 1x only on non-Indigo purchases
- No rewards for foreign currency purchases
Amazon Card Cons
- $79 annual fee after year 1
- Redemptions only as Amazon credit
The Amazon Card is better for heavy Amazon users, including cross-border shopping. But the Indigo Card is ideal if you focus spending mainly with Indigo.
Read More: How to Earn and Redeem Indigo Plum Rewards
Indigo vs. Triangle Mastercard
For Canadian Tire fans, the Triangle Mastercard is a fierce competitor:
Indigo Card Pros
- Can redeem points for monetary discounts
- 5x points bonus on books
- $0 basic card annual fee
Triangle Card Pros
- 4% back in CT Money at Canadian Tire
- 2% back at Mark’s, SportChek, gas, groceries
- 21 day satisfaction returns
Indigo Card Cons
- No bonuses beyond Indigo
- 19.99% interest rate
Triangle Card Cons
- $99 annual fee
- CT Money expires
The Triangle Mastercard is the better card for broad spending, while heavy Canadian Tire shoppers who want instant discounts will favor the Indigo Card.
Indigo vs. Costco Capital One Mastercard
For warehouse shopping, the Costco Capital One card is a major player:
Indigo Card Pros
- Rich perks like airport lounge, concierge
- Indigo-exclusive discounts and bonuses
- No membership fee required
Costco Card Pros
- 3% back on restaurants, gas, Costco Travel
- 2% back at Costco and Costco.ca
- Extended warranty on electronics
Indigo Card Cons
- Requires Indigo shopping to maximize value
- No bonus earn on gas, groceries, etc
Costco Card Cons
- Requires paid Costco membership
- No bonuses beyond Costco
The Costco card narrowly wins for general spending, while avid Costco members will gain more overall value from its robust rewards.
Read More: Insider Strategies to Maximize Every Swipe of Your
Indigo vs. Scene+ Visa Card
For entertainment lovers, the Scene+ Visa from Scotia Bank makes for an exciting comparison:
Indigo Card Pros
- No fee basic card available
- 5x points on Indigo bookstore purchases
- Points don’t expire while card is open
Scene+ Card Pros
- Earn Scene+ points on entertainment purchases
- Extra points for Cineplex movies
- Points can be converted to other programs
Indigo Card Cons
- Few extras beyond Indigo shopping
- No bonuses on entertainment or dining
Scene+ Card Cons
- $120 annual fee
- Scene+ points expire after 1 year
Avid movie fans and entertainment buffs get more value with the Scene+ card, while voracious Indigo shoppers benefit more from the Indigo Card.
The Bottom Line
There’s no one-size-fits-all answer to the best retail credit card. The Indigo Card shines when your spending concentrates heavily on Indigo stores. The accelerated earn rates and flexible Plum Rewards redeemable for instant discounts provide robust value.
For broader spending across categories, competitors like the Amazon, Costco, and Scene+ cards offer advantages.
But their annual fees and restrictive rewards compared to Indigo Plum Rewards make it less universally valuable. Analyze your unique spending profile and brand loyalty to decide which suits you best.