Why so little store accept interac debit online?

[laststar]

I got denied for my first credit card. The reason? I don't know, they never specify. So, I try to use my debit card for shopping online, but found out that 99% of the time they don't accept interac, why is that? My only option for shopping online right now is to buy pre-paid credit card or use my dad's credit card, both of which are quite a hassle.

[No Frills]

I got denied for my first credit card.

What credit card did you apply for? If you tried to get a visa and youre a student, try for a $500 limit student one. You might be able to get a low limit pc mastercard for your first card as well.

You should still try and get a CC...even if you plan on living with your parents until you can buy a house in cash you still need to establish a credit rating for hotel reservations etc.

I know what I said is beyond the scope of your question but I think establishing credit is more important than online shopping.

[chriskov]

Hello, Take a look on capital one, they work with people who have no credit. Also you could look at prepaid credit cards or a secured credit cards. There is always a way to get a credit card if you really need it.
But you could just use Paypal, many places accept it.

[hitman_24]

I got denied for my first credit card. The reason? I don't know, they never specify. So, I try to use my debit card for shopping online, but found out that 99% of the time they don't accept interac, why is that? My only option for shopping online right now is to buy pre-paid credit card or use my dad's credit card, both of which are quite a hassle.

Security


You should apply for a cibc classic card, I applied when I was 18 and only worked 1 day a week and they approved me for 1k

[Piro21]

Debit is horrendously insecure. If you really can't get a credit card by any other means, put up $500 and get a secured card. You'll be able to buy whatever you'd like.

[Jimboski]

I hope your first credit card Isn't something that requires high income + credit score..
Go for some easy that you can get approved easily, Probably those secured cards..

[death_hawk]

I just did some research into this recently and Capital One seems to be the best out of the secured card category.
You send in $X and they give you a credit limit of $X, where $X is $1500>=$X>=$300

If you don't want to tie up $X, you could also get a reloadable prepaid card from BMO. It's $7/year and doesn't cost anything to load/unload.
It doesn't build any credit though. It also doesn't seem to have a limit that I've discovered.

[laststar]

I wasn't the one that apply for the credit card. The guy that reopen my RBC bank account did it for me. He applied for a Student RBC Rewards Visa Gold. Like I said I'm not sure why I got denied they didn't give a specific reason. And if I keep trying to apply wouldn't it be bad for my credit report? But, I guess for now I'll just look into getting a secured card. Thanks.

[hitman_24]

I wasn't the one that apply for the credit card. The guy that reopen my RBC bank account did it for me. He applied for a Student RBC Rewards Visa Gold. Like I said I'm not sure why I got denied they didn't give a specific reason. And if I keep trying to apply wouldn't it be bad for my credit report? But, I guess for now I'll just look into getting a secured card. Thanks.

I'm assuming that you currently have a student account with RBC, and had proof of being a student upon application

[Jimboski]

I wasn't the one that apply for the credit card. The guy that reopen my RBC bank account did it for me. He applied for a Student RBC Rewards Visa Gold. Like I said I'm not sure why I got denied they didn't give a specific reason. And if I keep trying to apply wouldn't it be bad for my credit report? But, I guess for now I'll just look into getting a secured card. Thanks.

Hmm usually when the bank offers you a credit card you most likely won't be rejected.. What a bad advisor! LOL.

[zod]

Banks are also starting to rollout Visa Debit card which are supposed to be able to be used at quite a few online retailers. They have a similar number to a credit card, but they draw from your bank account (its pretty common in the US and Europe where the Interac system never took off).

TD has integrated Visa Debit into their regular debit card now. RBC is issuing a 2nd card for their accounts that is visa debit only. I'm not sure what the other banks are doing....

[TheDonkey]

Just a quick comment on the Visa debit cards (my experiences):

For me, it has worked everywhere I have tried it Online (Amazon.ca, Paypal, Steam, and a couple smaller retailers). Generally it won't work in stores in Canada though, I have only tried swiping it through the new Vending machines with credit card readers and that didn't work.

[gman]

I wasn't the one that apply for the credit card. The guy that reopen my RBC bank account did it for me. He applied for a Student RBC Rewards Visa Gold. Like I said I'm not sure why I got denied they didn't give a specific reason. And if I keep trying to apply wouldn't it be bad for my credit report? But, I guess for now I'll just look into getting a secured card. Thanks.

You should apply for credit card in the University (when they have promotion in the start of the school year) instead of in the bank.

[appleb]

No matter how secure interac would be if it were offered on the internet, I would never use it. Never give your main banking info online, if it gets compromised you are totally screwed bigtime, and imagine the headache having to change your bank account with all the other tied accounts. Whereas a compromised credit card is basically cutting up your old card and getting a new number.

[Dolfan-Neil]

No matter how secure interac would be if it were offered on the internet, I would never use it. Never give your main banking info online, if it gets compromised you are totally screwed bigtime, and imagine the headache having to change your bank account with all the other tied accounts. Whereas a compromised credit card is basically cutting up your old card and getting a new number.

Do you know anything about Interac Online?

The merchant never gets your banking information. When you are making your purchase and want to pay through Interac Online, you get directed to the Interac site to choose your financial institution and then approve your purchase at your bank's online banking site. The information that is sent back to the merchant in the transaction flow is the approval and a one time use reference to the payment so that when the transaction comes through the back end Interac system it can be confirmed and reconciled.

To sum it up, from the standpoint of what the merchant sees in the transaction flow the merchant does NOT see your banking information.