About
Canadian Tire Bank (CTB) is a financial services branch of Canadian Tire Corporation, Ltd. It was established in 2003 and acquired the MasterCard Portfolio from Canadian Tire Financial Services Limited. CTFSL was established in 1961 as a financial service company that provided third-party credit processing for local retailers.
Now CTB is mostly concentrated on the Triangle credit card portfolio and provides it to four million cardholders, but it also offers other financial products and services. Has offices in Welland, St. Catharines, and Oakville, Ontario.
Features
CTB is a financial service company, a subsidiary of Canadian Tire Company, known for its loyalty program, Canadian Tire money (CT Money), launched in 1958. Customers could use it to buy anything at the participating stores. It's a well-organized program replaced by Triangle Rewards that has been operating and evolving in the long run. The paper coupons are still issued and accepted, however, at a lower rate than plastic reward cards have.
The company is focused on a rewards program and credit cards that allow you to earn cashback using a rewards card, credit card, mobile app, or even paper coupons and redeem them mostly for anything you want at the wide range of stores offline and online. But you can't obtain services like loans, mortgages or chequing accounts, RESP, RRSP, investments, and business accounts.
Canadian Tire Bank is a developing company that implements new products such as a mobile application and getting to offer a wider range of options like deposit accounts for existing and new clients. You may use their online and in-store services for your convenience.
Pros and cons
Pros
Effective and favorable rewards program
A long history
Online account to manage your funds
Mobile App to manage your Triangle Rewards and credit card accounts
High-interest rate
No fee products
Cons
A limited choice of products
No business products and services
No USD accounts
No promo offers and benefits
Deposit accounts aren't available in Quebec
Rewards are redeemed in the Canadian Tire chain and partners only
Products
Triangle Mastercard with no annual fee, its requirements are easy to meet, and there is a convenient ability to collect and redeem Triangle rewards.
Triangle World Elite Mastercard allows you to earn rewards faster and provides premium rates, benefits, and services like the Roadside assistance Gold Plan.
Triangle App is made to manage your Triangle Rewards account and Triangle credit card accounts in one single place: view balance and transaction, pay your credit card statement, and activate offers.
Canadian Tire High-Interest Savings Account and Canadian Tire Tax-Free High-Interest Savings Account with a 2.40% annual rate and no minimum balance.
Canadian Tire GICs and Tax-free GIC account with high-interest rates and a minimum deposit of $1,000.
My Online account allows you to manage and review your Canadian Tire credit cards and deposit accounts. You may activate cards, pay bills, view account details, balance, and many more.
Services
Triangle Rewards Program is made to collect and redeem Canadian Tire Money with a credit card, plastic reward card, or mobile app at eligible locations.
Canadian Tire deposit accounts: High-Interest Savings Account, TFSA, GICs with no monthly fees and high-interest rate manageable through an online account.
Canadian Tire credit cards: Triangle Mastercard, Triangle World Elite Mastercard, which allow you to collect and redeem Triangle rewards mostly anywhere for any eligible purchases, Gas Advantage Mastercard with special rewards for drivers, and Cash Advantage Mastercard with higher cashback for all purchases. CT credit card services without an annual fee and without interest financing on qualifying purchases with the additional no-receipt easy return.
An Online account and the mobile app help to manage your credit card and reward card transactions and balance. But there is no mobile app to use for deposit account holders.
