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The Canadian Tire Options® MasterCard® Review

ctfs-options-mastercardAt a Glance:

  • No annual fee
  • 0% APR financing on purchases of $200 or more at Canadian Tire
  • Earn Canadian Tire Money at a flat 2x rate on all purchases
  • Earn Canadian Tire Money at a 10x rate at Canadian Tire and partner stores
  • Redeem Canadian Tire Money at the pump, or in the store
  • 24/7 customer service
  • Optional identity theft deterrence features

For the millions of Canadians who rely on their local Canadian Tire to fill up their vehicles, buy necessities for the family and more, the Canadian Tire Options® MasterCard® has the potential to save hundreds if not thousands of dollars on these types of purchases each year. Cardholders earn Canadian Tire Money everywhere, participating in a valuable rewards points system redeemable directly at the gas pump, or for food, toys, and lifestyle products in Canadian Tire locations across the country.

When purchasing in Canadian Tire locations across Canada, members earn Canadian Tire Money at 10x the normal rate – the equivalent of 4% cash back. There is also a broad network of partner stores that help members earn at the same 10x rate, including Sport Chek, Mark’s, PartSource and more. Everywhere else, these earnings slow to a 2x rate but are not restricted by purchase. This rewards ecosystem helps Canadians simultaneously save and earn on some of their biggest bills.

Other than an advanced rewards rate, a new draw to the Canadian Tire Options MasterCard is a limited time promotion run by the bank, which grants every cardholder the ability to get 0% APR financing on any purchase over $200 from Canadian Tire. With no fees for this financial advantage nor annual membership costs, there are few reasons not to apply for this unique credit card.

Why We Like It:

  1. No Annual Fee: Whereas other rewards cards burden cardholders with fees in the form of an annual membership charge, the Canadian Tire Options MasterCard has the potential to save as much or more than its peer cards, and comes at absolutely no cost. Similar cards charge as much as $60 for just the annual fee, and lack some of the secondary benefits.
  1. Interest-Free Financing: For no fees and a 0% interest rate, cardholders can pay for purchases at Canadian Tire totaling $200 or more in monthly installments, with terms up to two years. For those who are protective of their balance or who need increased cash flow, this limited-time bonus is a great option.
  1. Flexible Canadian Tire Money: Earn with any purchase, anywhere when holding the Canadian Tire Options MasterCard. Aptly named, members with this credit card have many options when it comes to accruing points, but for purchases made at Canadian Tire stores or partner brands, they earn at a significantly increased rate. Ten times the normal pace of accrual equals 4% cash back – a highly competitive offer.
  1. The Value of Rewards: Canadian Tire Money can be spent at the gas pump or at the register in Canadian Tire stores across Canada. A combination of gas and items from the store, such as lifestyle products, food and snacks, could represent a large portion of monthly bills. The Canadian Tire Options MasterCard can help reduce household expenses in a big way.
  1. Customer Service: Canadian Tire representatives are known as some of the most friendly and helpful around, and are all based in the country, so customers know there is a fellow Canadian on the other end of the line. Phone support is available 24/7 for customers with inquiries, comments or concerns.
  1. Protect Your Identity: Cardholders have the choice to pay a bit extra for some identity theft deterrent features, like credit monitoring and added protection when traveling. They can also opt in for life, disability and critical or terminal illness insurance to protect against unforeseen life events that may threaten financial stability.

Is It Worth It?

One of the most relevant factors in determining if the Canadian Tire Options MasterCard is worthwhile for any potential customer, is how often they shop at Canadian Tire. Given the many branches across the country and plethora of products available, there is a good chance that many Canadian citizens may find the card frequently beneficial when it comes to completing day-to-day errands.


For no annual fee, those who incur heavy expenses from Canadian Tire and its partner stores can gain relief in the form of steady savings. For what it is, the card is a strong contender among similar-level rewards cards, and is aimed more towards customers spending heavily on gas. Customers for whom a long commute is a normal occurrence will find a handy companion in the Canadian Tire Options MasterCard.

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