FREQUENTLY ASKED QUESTIONS AND ANSWERS
- How do I go about applying for the Canadian
Tire Line of Credit?
- How are my payments structured?
- How do I make payments to my Canadian Tire Line of Credit?
- How do I withdraw funds from the Canadian Tire Line of Credit?
- Can I pay off my entire Line of Credit balance
without incurring hidden charges?
- What is Line Protector®?
- What are the Line Protector coverages?
- How do I make a Line Protector claim?
1. How do I go about applying for the Canadian Tire Line of Credit?
No applications are being taken at this time.
2. How are my payments structured?
You choose the amount of your monthly payments, as long as you make a minimum monthly payment of at least 3% of your outstanding balance or $25 (whichever is the greater).
3. How do I make payments to my Canadian Tire Line of Credit?
- By Cheque, made payable to Canadian Tire Bank, P.O. Box 1200, Station Main, Welland, Ontario, L3B 5F3.
- Pre-Authorized Debit, if you would like your monthly payment to be automatically withdrawn from your bank account. Please call our Customer Service Centre at 1-877-609-4872 to set up this payment function.
- Electronic Bill Payment. Set up Canadian Tire Line of Credit as a bill payee from your bank account and make payments online or by phone. Available at TD CanadaTrust, Royal Bank, Canadian Imperial Bank of Canada, Bank of Montreal, Bank of Nova Scotia, National Bank of Canada, Desjardins, and Credit Unions.
4. How do I withdraw funds from my Canadian Tire Line of Credit?
Writing a cheque is currently the only way to withdraw funds from the account. Please call our Customer Service Centre at 1-877-609-4872 to learn how to obtain cheques.
5. Can I pay off my entire Line of Credit balance without incurring hidden charges?
You can pay off your Line of Credit balance as it suits you — all or in part. There are no penalties for paying the entire amount. When you have no balance, there are no charges. You may reuse the Line of Credit repeatedly without having to reapply!
6. What is Line Protector® †?
Line Protector provides optional
insurance to approved applicants to cover Canadian Tire Line
of Credit balances. So, you can enjoy your purchases worry-free
knowing that Line Protector can cover your balance, up to $50,000, in case of
loss of life or dismemberment. Plus this coverage provides involuntary
unemployment and disability coverage that can pay your required
monthly payments, up to 12 months (BASED ON YOUR BALANCE AT THE
TIME OF LOSS, UP TO A MAXIMUM OF $50,000).
Full details of the coverage, including limitations
and exclusions, are available by calling 1-800-480-1853
and are contained in the Certificate of Insurance you received
upon enrolment. For more information click
here.
7. What are the Line Protector coverages?
Click here to view the Line Protector summary of coverages.
8. How do I make a Line Protector claim?
We hope you are enjoying the peace of mind that comes with having your Canadian Tire Line of Credit protected with Line Protector. Upon enrolment, you should have received a Certificate of Insurance. Please follow the claims process outlined in this document. To get started, call 1-800-480-1853.
†Line Protector is underwritten by American Bankers
Life Assurance Company of Florida and American Bankers Insurance
Company of Florida, Assurant Solutions companies.
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