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Canadian Tire Credit Card Review

    Canadian Tire is a chain of retail stores that primarily offer automotive, sports and leisure, and home products. Their core operation includes automotive repair garages at their retail locations, and the company also produces and/or markets products from clothing to auto parts to financial services (through Canadian Tire Financial Services). It’s said that 90% of Canadians live within 15 minutes of one of Canadian Tire’s 500+ locations.

    Canadian Tire Products

    Canada’s largest retailer offers scores of different products to their customers. From housewares to clothing to food, Canadian Tire runs the whole gamut of retail. Several store brands exist under the CT banner, including Mastercraft, BluePlanet, and MotoMaster.

    Canadian Tire credit cards, offered by their financial services department, are a great way to manage your budget in an easy way while earning rewards that you can use. The options presented by Canadian Tire work with your current lifestyle to maximize the points you earn based on the purchases you already make.

    There are three primary lines of credit offered by this lender – let’s take a look at them below!

    Canadian Tire Options® MasterCard®: With this card, you’ll earn Canadian Tire money rewards everywhere you shop. You’ll earn bonus rewards for every purchase you make at Canadian Tire stores as well! As an added benefit, you’ll be able to get exclusive bonuses every week in the flyer that is sent your way. You’ll also get to enjoy the PayPass feature that is on this card for faster checkouts and chip technology helps to provide enhanced security.

    When you earn rewards with the Options card, you won’t have to worry about having an online account setup or dealing with an automated toll-free number. You can even redeem your rewards right at the register of any Canadian Tire location! Residents of Nova Scotia have a different rewards program.

    Canadian Tire Gas Advantage® MasterCard®: With the gas advantage card, you’ll begin saving on your fuel purchases immediately! During the first month of holding their card, you’ll save ten cents for every  litre of fuel you purchase at all Canadian Tire locations. You just use this credit card to pay for the fuel and the savings are immediately realized!

    Once the thirty day membership period has expired, you’ll still save a at least two cents per litre at each purchase and be able to earn points to save up to ten cents for every litre of fuel purchased throughout the lifetime of the card! You’ll also be able to pay your bill online, through the mail, or conveniently at your local Canadian Tire location.

    Canadian Tire Cash Advantage® MasterCard®: With the Cash Advantage card from Canadian Tire, you’ll get a minimum of 1.5% cash back on every purchase if you meet certain qualifications. If you make purchases at a Canadian Tire location or at or certain other stores, you can get up to 3% cash back if you meet certain qualifications!

    There are no limits to the amount of cash back that you can earn and best of all, there is no annual fee associated with the account. Your earnings are automatically applied to your account every year. With worldwide acceptance you’ll be able to spend and save wherever you go. A pre-authorized payment plan is also available for this card for your convenience.

    Which Credit Card Is Right For You?

    The right credit card for you from Canadian Tire depends on what your unique needs happen to be. Each reward program focuses on one specific area of life where you could save extra! From extra savings on fuel to cash back on every purchase, there is a program that could benefit your finances! Canadian Tire offers three Mastercards which each have a reward incentive.


    The Options Mastercard allows the holder to earn Canadian Tire money on all purchases, with bonuses for purchases at Canadian Tire stores, including member special offers.  Money can be used to purchase anything at Canadian Tire stores at the till.

    The Gas Advantage Mastercard saves the holder 10 cents a litre for the first 30 days and 2 cents per litre thereafter.  This discount is applied automatically at the pump after the card has been swiped.

    The Cash Advantage Mastercard offers up to 1.5% cashback on all purchases using a tiered threshold system with a higher rate the more is spent – 0.25% is earned on the first $1,500 in purchases, 0.5% on purchases above $1,500 and up to $3,000, a full 1% on purchases above $3,000 and 1.5% on purchases above $24,000.

    A 100% bonus of up to 1.5% is added for purchases at Canadian Tire stores, Canadian Tire gas bars and Mark’s Work Warehouses.  There is no limit to the cashback earned and the cash is applied automatically to the credit card every year.

    Annual Fee

    None of the cards have an annual fee.  However there are no additional benefits, such as travel and medical insurance which are commonly offered with credit cards that have a fee attached.

    Interest Rate

    All three cards have the same interest rate of 19.99%.  Should an applicant fail the credit test, they may be offered a card with an interest rate of 25.99%. There is an interest free grace period of 21 days for all cards, assuming balances are paid in full prior to the due date.

    View more information about the Canadian Tire MasterCard.


    Christopher - BSc, MBA

    With over two decades of combined Big 5 Banking and Agency experience, Christopher launched Underbanked® to cut through the noise and complexity of financial information. Christopher has an MBA degree from McMaster University and BSc. from Western University in Canada.

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