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Canadian Tire Financial Services credit cards


If you weren’t familiar with the financial products offered by Canadian Tire Financial Services you might think that they merely financed tires and automotive products. However, within the past few decades they have actually branched out into an actual financial institution that provides a number of financial products to consumers in Canada. Their cards carry the MasterCard logo and there are several options depending on the consumer’s creditworthiness and financial needs.

History of CTFS Financial Products

Canadian Tire Financial Services actually came into existence in 1961 as Midland Shoppers Credit Ltd. which, in the beginning, serviced Canadian Tire’s credit line. Eventually Canadian Tire bought out Midland and took the name Canadian Tire Corporation, Ltd, only to be changed to Canadian Tire Financial Services Ltd (CTFS) by which it is still called today. CTFS has a rich history which includes:

• First worldwide non-deposit taking financial institution to offer MasterCard (1995)
• Establishment of Canadian Tire Bank (2003)
• Mediacorp Canada names CTFS one of the Top 100 Employers in Canada (2008)

Options MasterCard

The CTFS Options card was first issued nationally in 1995. It has a reward program for customers who use the card anywhere around the globe. In essence, they earn Tire Money awards, at 1.5% of the amount they charge on it and the card carries an 18.9% interest rate which is lower than the national average for a card of this type. It has a PayPass chip embedded in the card that enables consumers to expedite checking out.

Gas Advantage MasterCard

One of the more recent cards is the Gas Advantage MasterCard that was initiated in 2008. There is a rewards program that provides cardholders with a discount between 2 and 10 cents a litre on any gasoline that is purchased at a Canadian Tire gas bar. Each month the discount is assessed on the purchases from the previous month. This card also carries an interest rate of 18.9%.

Vacation Advantage MasterCard

The card released just the year before the Gas Advantage card was the Vacation Advantage MasterCard. Like the Gas Advantage card, this card also earns rewards that can be redeemed. However, they are not converted to a discount on gas but on any purchase related to vacations.

Cash Advantage MasterCard

Another of the CTFS rewards cards is the Cash Advantage MasterCard. This card has an interest rate of 18.9% like the other cards but provides cash back rewards up to 1.5% of the amount spent on purchases made annually using the card. The pilot program for Cash Advantage began in 2006.

Curve MasterCard

The most recent credit card product issued by CTFS was issued in 2009, the Curve MasterCard. Again, this card has an interest rate of 18.9% but offers up to 3.5% cash back which is much higher than the Cash Advantage card. The cash back is based on card purchases made annually but customers will get double the amount of cash back at all Marks Work Wearhouse stores and Canadian Tire as well. However, this card is appealing to a younger crowd in that it has an innovative curved shape and there is no annual fee.

Because of the broad scope of financial products and the number of rewards customers can earn, Canadian Tire Financial Services credit card products are extremely popular throughout all of Canada. In fact, CTFS customers are actually starting to anticipate the next product that is probably already in the works. To apply for one of their MasterCards, visit the CTFS official website.


Canadian Tire Financial Services credit card reviews and credit card application details.

NameTypeInterest RateAnnual Fee
Canadian Tire Options MasterCardMasterCard18.9%$0
Gas Advantage MasterCardMasterCard18.9%$0
Cash Advantage MasterCardMasterCard18.9%$0