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Canadian Tire Mastercard COVID-19 Relief?

  • Last Updated:
  • May 14th, 2020 12:19 pm
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[OP]
Newbie
Jan 17, 2010
11 posts
5 upvotes

Canadian Tire Mastercard COVID-19 Relief?

Canadian Tire's website says the following:
As part of our normal businesses practice, we work with our customers to assist when you need financial assistance the most. Our Customers that have needed our assistance in past are aware that we offer a number of options in times of need. These range from skip a payment, interest rate adjustments and, in some instances, sharing the burden with you. In this evolving crisis we will continue to work with our Customers to find a solution to meet your needs.
Has anyone had any success in getting any payment deferrals (or lowered interest rates) from Canadian Tire? Has anyone called in and asked?

With the news that the Canadian banks are lowering credit card interest rates, and with Vancity's generous payment deferral program, I would hope that Canadian Tire comes through for their customers as well.

I am a tradesperson and am facing difficulty, thought I would ask around for other people's experience before calling in myself.

Thanks!
9 replies
Deal Fanatic
Oct 7, 2007
8359 posts
4325 upvotes
I saw the same notice. While I haven't tried to take advantage of this, I am expecting that if they allow you to skip a payment or something equivalent, they will just charge you interest on the amount owing BUT perhaps save your credit rating from blemishes. But that is just me speculating.
[OP]
Newbie
Jan 17, 2010
11 posts
5 upvotes
choclover wrote: I saw the same notice. While I haven't tried to take advantage of this, I am expecting that if they allow you to skip a payment or something equivalent, they will just charge you interest on the amount owing BUT perhaps save your credit rating from blemishes. But that is just me speculating.
Yeah, I called them and it was not an easy process. Asked a bunch of questions about my financial situation, and then offered to skip a payment, with interest continuing to compound. Nothing like what Vancity or even the banks (gasp) have offered. Disappointed in Canadian Tire, one would think with the word 'Canadian' in their name, they would be a bit more accommodating in these times...
Deal Fanatic
Oct 7, 2007
8359 posts
4325 upvotes
Zeeman wrote: Yeah, I called them and it was not an easy process. Asked a bunch of questions about my financial situation, and then offered to skip a payment, with interest continuing to compound. Nothing like what Vancity or even the banks (gasp) have offered. Disappointed in Canadian Tire, one would think with the word 'Canadian' in their name, they would be a bit more accommodating in these times...
Actually, it is sad but the "Canadian" you are seeing from Canadian Tire is actually what Canada is transforming into. More and more, Canada is no longer the (great) place it once was but has taken on an attitude that is very unfriendly and divisive. Taxpayers and consumers alike are often seen us as "slaves" that must work to serve the master. It is a sad, harsh reality because I think empathy is the one emotion that allows us to bond together as a society. Without it, words of how great and caring we are truly meaningless.
Newbie
Jul 29, 2015
43 posts
19 upvotes
Toronto, ON
I called in and they reduced interest 11.9% easy process
Newbie
Apr 14, 2020
1 posts
2 upvotes
Gotheblues

I was wondering the same thing in regards to Canadian tire interest rates. I just called and they lowered it to 11.9%. It is only for three months though. I asked if in three months I’m still not back they said to call them again.
Jr. Member
Nov 13, 2005
142 posts
13 upvotes
Montreal
The rate of 11.9% is only good for the purchases?
My balance transfer promotional rate was expired on April 25 and I can't pay the money back in one shot so I am paying 22.9% right now, I called in and the customer representative refused to lower the rate.
Member
Apr 16, 2020
310 posts
393 upvotes
samsonmq wrote: The rate of 11.9% is only good for the purchases?
My balance transfer promotional rate was expired on April 25 and I can't pay the money back in one shot so I am paying 22.9% right now, I called in and the customer representative refused to lower the rate.
Time for another BT promo! There's plenty of fish in the sea
Jr. Member
Nov 13, 2005
142 posts
13 upvotes
Montreal
Kneader wrote: Time for another BT promo! There's plenty of fish in the sea
The banks are getting strict on BT. TD has been giving BT promotion every month I don't remember since when. But it has been stopped since last month.
Member
Apr 16, 2020
310 posts
393 upvotes
samsonmq wrote: The banks are getting strict on BT. TD has been giving BT promotion every month I don't remember since when. But it has been stopped since last month.
I hadn't noticed, but there are still BT offers with new cards to choose from.

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