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Financing

How do I finance a purchase made at Canadian Tire?

Present your Canadian Tire Bank issued credit card at any Canadian Tire store at the time of purchase and advise the cashier that you would like to take advantage of the financing offer available on the merchandise you are purchasing. Please note that equal payment plans are not available on the Low Rate Options^® MasterCard^®.

When will I bear interest on my purchase?

Equal Payments Plan:

To avoid being billed for interest on an Equal Payments Plan, you must do each of the following:

(i) pay in full your minimum monthly payment within 59 days of the statement date for all months for the term of your Equal Payments Plan and ensure that your account does not otherwise go into default;

(ii) pay in full your monthly instalment on the Equal Payments Plan by the due date for that statement.

If you fail to satisfy the first requirement above, the equal payments plan will end and interest will start to be charged on that plan balance. If you fail to satisfy the second requirement above, we will start to charge interest on the portion of the monthly instalment of the Equal Payments Plan that is unpaid.

Deferred Purchase Plan:

If the only purchase on your Canadian Tire Bank issued credit card is a Deferred Purchase you will not be required to make minimum monthly payments until the statement after your Deferred Plan expires.

If you are carrying a balance on your account for other purchases, you are required to make the minimum payment by the due date each month. This minimum payment does not include the portion of your balance that is on a Deferred Payment Plan. However, if you fail to make the minimum payment within 59 days of the statement date, or another default under your cardmember agreement occurs, the deferred payment plan will end and interest will start to be charged on that plan balance.

Upon expiry, your Deferred Purchase will become interest bearing. To avoid being billed interest on this purchase you must pay the purchase amount by the due date of the next statement after its expiry. If interest is charged, it will be calculated as of the expiry date of the Deferred Purchase, not the purchase date.

If I do not pay off the financed purchase before the expiry date, will I be charged interest back to the original purchase date?

Equal Payments Plan: You must pay your monthly equal payments plan instalment in full by the statement due date to avoid paying interest. If you do not pay this amount in full, you will be charged interest on that portion of the equal payments plan instalment that is unpaid starting from the day after the monthly payment is due.

Deferred Purchase Plan: No. Canadian Tire Bank will not charge you interest from the original purchase date. Interest will only be calculated on the outstanding balance once your deferral period has ended.

I have a Deferred Purchase or Equal Payments Plan in addition to other purchases on my account. When I make a payment how is it applied?

Payments are applied to your account in accordance with the cardmember agreement.

How will I know when my Deferred Purchase Plan will expire?

Your Deferred Purchase Plan expiry date and payment due date are outlined on your monthly statement as indicated in the example below.

Will a Deferred Purchase Plan or an Equal Payments Plan affect the available credit on my Canadian Tire Credit Card?

Yes. Your available credit will be reduced by the total amount of the transaction that you are financing.

I do not have a Canadian Tire Bank issued credit card but I want to finance a purchase at the Canadian Tire store, how can I do this?

A Canadian Tire Bank issued branded credit card is required to qualify for financing at Canadian Tire. To apply, visit any Canadian Tire store and apply for instant approval at the Customer Service Desk, apply online at https://www.ctfs.com/ApplyNow.

Is there a fee to finance under the Deferred Purchase or Equal Payments Plan?

There is no administration fee charged for entering into a special payment plan. Other fees can be charged in connection with the use of your credit card account such as an overlimit fee if you exceed your credit limit.

Contact Information

Whom do I contact for assistance with my Canadian Tire Bank issued credit card account?
Via email: Click here to contact us using our email form.
By phone: Simply call toll-free 1-800-459-6415.
Out of country: Simply call collect 1-905-735-7256.

MasterCard^® Securecode^TM - Assistance

What is MasterCard SecureCode and how does it work?

MasterCard SecureCode is a free card protection service we provide in association with MasterCard Worldwide. Through the use of a one-time code (OTP) additional protection is provided against unauthorized use of your Canadian Tire Bank issued credit card when making online purchases at participating merchants. When you make an online purchase, at a participating merchant, a request screen will automatically appear informing you that a One-Time Code will be sent to you via email or text message to your mobile phone. Once you receive the One-Time Code, you will need to enter it into the request screen in order to proceed with your transaction. When you correctly enter this information, Canadian Tire Bank will confirm that you are the authorized cardholder and the transaction will proceed through the payment process.

For more information, please read FAQs (Frequently Asked Questions) below or contact Canadian Tire Bank at the number on the back of your card.

FAQs (Frequently Asked Questions)

What are the benefits of Secure Code?

Secure Code provides an additional layer of security, outside the traditional transaction authorization process, and helps prevent unauthorized use of cardholder accounts by a third party.

How does it work?

Transactions originating with a SecureCode merchant pass through a risk-assessment process set up by Canadian Tire Bank. If the authorization is considered higher risk or out of the norm for you, as a cardholder, you will be prompted to input a One-time Code which will further validate the authenticity of the transaction.

How will I receive the One-Time Code?

One-time Codes are sent via SMS to your registered mobile phone number on file with Canadian Tire Bank. If you do not have a mobile number on file, the One-time Code will default to your registered email address. If you do not have either, you will be allowed to proceed through the process via question and answer verification.

What if I don’t receive the One-time Code?

The one-time Code can be re-sent to your registered mobile number or email address up to 3 times per transaction. After the third attempt, if you still have not received the Code, please call the number on the back of your card for assistance.

What happens if I enter in an incorrect One Time Code?

You will be prompted to provide your Credit Limit and Date of Birth in order to verify your identity.

What if I don’t have a mobile phone or email address on file with Canadian Tire Bank?

Please call the number on the back of your card for assistance.

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