Canadian Tire MasterCard Canada Review



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Often referred to as “Canada’s second currency,” the Canadian Tire MasterCard is a retail credit card that can be used globally at several outlets. You can pay your monthly bills using your Canadian Tire MasterCard, whilst doing this; you can earn Canadian Tire Money rewards on every bill payment you make. All amounts indicated in this article are in Canadian dollars. There are two types of Canadian Tire MasterCard, they are:

  • Canadian Tire MasterCard
  • Canadian Tire World Elite MasterCard

These cards are issued by the Canadian Tire Bank. Some of the perks of these cards include:

  • Cash advances to cardholders
  • Fraud protection
  • You can save on specific Canadian Tire flyer items

Canadian Tire MasterCard

The Canadian Tire MasterCard is an entry-level card, with no annual fee or minimum income required to apply. Though this card has a $0 annual fee, there is a 2.5% foreign transaction fee. Holders of this card get 4% pre-tax in CTM/Triangle Reward at any Triangle Reward outlets, 5% per liter at Gas and Husky Stations, plus 0.8% at any other store. In addition to the mentioned perks, holders also have access to 12/24 –month, no-fee, no-interest financing which applies to any procurement of $200 and above made at any Triangle outlets.

You can return products without receipts at any participating outlet; other benefits of the Canadian  Tire MasterCard include, weekly bonuses, access to members-only events, and personalized offers. Features of this card include:

  • $4 cash advance
  • No annual fee
  • 10.99% – 25.99% balance transfer APR on cash withdrawal
  • 21 days window period
  • $1.1 monthly premium fee for every $100 outstanding balance
  • $300 minimum credit limit
  • 21-26 days payment due date

The greatest perk of the Canadian Tire MasterCard has to be the cashback feature, where you get money known as the Canadian Tire Money (CTM). Canadian Tire Money is the rewards currency for Canadian Tire; your MasterCard gets linked with your CTM e-money account. You automatically get enrolled in the Triangle Rewards program once you’re a cardholder.

The good thing with CTM is they never expire even if you don’t use them awhile. Though they cannot be transferred, you can donate them to charities or community groups. Your CTM can only be redeemed at any Canadian Tire outlets. The only downside of this card is the zero insurance coverage.

Requirement For Canadian Tire MasterCard

  • Canadian Citizen
  • Age 18 and above
  • Good/fair credit score
  • No minimum personal income required
  • No annual fees required

How to Apply 

Applying for your Canadian Tire MasterCard is a seamless process. You can apply via the following process:

  • Online Application

You can commence your application online via the official website.

  • In-Store Application

You can visit any of the Canadian Tire outlets, meet with the customer service representative and fill out an application form.

  • Phone Application

You can commence your application on phone by calling the Canadian Tire MasterCard tool-free number 1-800-459-6415.

  • Canadian Tire Gas Bars

You can fill an application form at any Canadian Tire Gas Bars; meet with a representative to assist you with your application

Canadian Tire MasterCard Payment

The same way the application process is easy, the payment process also is hassle-free. You can make your Canadian Tire MasterCard payment via the following means:

  • Bank Payment

You can make your payment at most financial institutions across Canada.

  • In-Store Payment

You can make In-store payment at any Canadian Tire outlet, you can pay through cash, check or debit card.

  • Mail Payment

You can mail in your check with your monthly statement in an enclosed envelope to:

“Canadian Tire Bank P.O. Box 4653 Station A, Toronto, ON M5W 5G4”

  • Online Payment

You can make your payment online via any online banking service of most financial institutions.

With your online Canadian Tire MasterCard account, you can view all your transactions. You have access to your account 24 hours, get up-to-date details on balances and transactions. You can update your detail like phone number, employment details, etc. For online users, your transactions are protected by MasterCard SecureCode. It is a free card protection service which requires a One-Time-Passcode (OTP) to authorize any transaction.

When you initiate any transaction at a participating outlet, a request screen pops up informing you that an OTP will be sent to you through email or text message. You are required to input the digit sent to your mobile or email to proceed with your transaction. If you do not have a number registered on your file, the OTP will automatically be sent to your email. If you have neither in your file, you’ll have to go through the question and answer the verification process.

OTP authenticates any transaction on your account if you do not receive an OTP after 3 attempts; contact the number in the back of your card for assistance on your transaction. In a case where you input a wrong OTP, you’ll be required to provide your credit card limit and Date of Birth (DOB) to verify your identity.

Canadian Tire World Elite MasterCard

The Canadian Tire World Elite MasterCard is a superior card with bigger perks. The Canadian Tire card you get depends on your income, hence when you apply you’ll be given the one most suitable for you. This card is one of the few World Elite MasterCard in Canada that has no annual fees attached to it. The perks of this card include:

  • 4% at any Triangle outlets
  • 3% at grocery stores, which is about $12,000 yearly
  • 5 cents per liter at Gas+ and Husky stations on regular/mid-grade fuel
  • 7 cents per liter on premium fuel
  • 1% at all other outlets
  • $99.95 tax inclusive yearly Gold Plan Road assistance
  • Access to 12 months no-fees, no-interest financing on purchases of $200 and above
  • Car rental insurance
  • Fraud protection
  • Extended warranty protection
  • 24/7 concierge service
  • Priority queuing on request

The perks of this card seem to outweigh the downside, the few downsides of this card include:

  • $80,000 and above household personal income required for this card
  • $1,000 monthly limit on the number of rewards earned on groceries
  • Walmart supercenters and Costo stores do not qualify for the 3% cashback on grocery

Canadian Tire MasterCard Participating Outlets

Your rewards cannot be redeemed at any store; it is a store loyalty program and can only be redeemed at any participating store. They include:

  • All Canadian Tire outletsSportChek
  • Mark’s Work Wearhouse
  • Atmosphere
  • Sports Rousseau
  • Hockey Experts
  • L’Equipeur
  • L’Entrepot du Hockey

Canadian Tire MasterCard Credit Limit

To qualify for any of the Canadian Tire MasterCard, you must possess a fair-good credit score, which can be increased over time. To increase your Canadian Tire MasterCard credit limit by calling the toll-free number on 1-800-459-6415.

Stolen/Lost Card

In the case of a stolen or lost card, you can contact Canadian Tire customer service instantly on 1-800-459-6415 if you are in Canada. If you are outside Canada or the U.S, you can contact customer service on 1-905-735-7256. Once you contact customer service you’ll be provided with a replacement card and/or cash advance up to $1,000 if you are traveling. Note that, there is a service fee applied to the cash advance.

Additional Cardholder

There are two ways to add an extra cardholder, they include:

  • Online

Log in to your online account, navigate and click on the “Manage My Profile” tab, and select “Request an Additional Card”.

  • On Phone

Simply contact the toll-free on 1-800-459-6415 to add another cardholder.

Financing a Purchase at Canadian Tire

To finance your purchase, present your Canadian Tire credit card at any Canadian Tire outlet. There are two different payment plans involved in financing your purchase using any of the Canadian cards. They include:

  • Equal Payment Plan

Ensure to make the full minimum payment within 59 days of the statement due date to avoid being charged for interest on this plan. If you fail to make a full installment payment, interest will be charged on your balance, as the equal payment plan on your account will be stopped. Or you can make timely full payment, if you fail to do this, interest will be charged on the part of the monthly payment of the Equal Payments Plan that is unpaid.

  • Deferred Purchase Plan

You’ll not be required to make any minimum monthly payment on your card if the purchase on your Canadian Tire credit card is deferred. You can only make payment when your deferred plan expires. Note that you are required to make the timely minimum payment if there is a balance on your account for other purchases.

This payment does not include the part of your balance that is on the Deferred Payment Plan. Your deferred payment will be stopped and interest will be charged on your plan if you fail to make the minimum payment due within 59 days of the statement due date.

When your plan expires, your deferred purchase will start bearing interest. To avoid this, make timely payment of the purchase amount due to the next statement after its expiry. Note that if interest is charged on your plan, it will be calculated as of the expiry date of the deferred purchase, not the purchase date.

Payment Due Date

To know your Canadian Tire MasterCard payment due date, check your monthly statement. It is advisable to make timely payment of your balance to avoid high-interest rates. On new purchases, you will enjoy a free-interest window period of a minimum of 21 days and 26 days if you are a resident of Quebec if you make timely payment of your full balance.

Note that it takes time for your payment to reflect on your account; this depends on the method of payment used. Generally, the Canadian Tire MasterCard payment takes up to 2 business days to reflect on your account. The online channel takes about 3 business days while mailed payment takes about 2 weeks from the daily mail your cheque.

Disputed Canadian Tire Transaction

You can dispute any transaction you did not authorize on your Canadian Tire MasterCard. A disputed transaction can be in the form of the following:

  • Charges carried out for the wrong amount
  • Duplicate charges
  • Charges for good returned where credit has not been processed by the vendor
  • Unauthorized transactions
  • Charges for good/services not received

You can dispute ay of the above-mentioned by calling the Canadian Tire MasterCard toll-free on 1-800-459-6415.

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Avid researcher, freelance writer, and personal finance enthusiast passionate about financial education and literacy.

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Kareena Maya

Personal Finance and Travel Rewards Expert Contributor



Kareena Maya is a freelance writer focused on the personal finance and travel spaces. He frequently writes about credit cards, banking, student loans, insurance, travel rewards and more. His work has been featured in publications such as Forbes Advisor, Bankrate, Credit Karma, Finance Buzz, The Ascent and Student Loan Planner.

Kareena Maya is a freelance writer focused on the personal finance and travel spaces. He frequently writes about credit cards, banking, student loans, insurance, travel rewards and more. His work has been featured in publications such as Forbes Advisor, Bankrate, Credit Karma, Finance Buzz, The Ascent and Student Loan Planner.