Canadian Tire Financial Services
From Wikipedia, the free encyclopedia
Canadian Tire Financial Services is the credit arm of Canadian Tire. They are primarily around to issue the Canadian Tire Options MasterCard, although they also offer insurance, personal loans and lines of credit.
The MasterCard offers cash back on purchases made to the equivalent of a 1% discount on purchases on the card, returned as "Canadian Tire money on-the-card".
In October 2006, Canadian Tire Financial Services began a pilot project in two Canadian municipalities to offer more traditional banking services to the public. In Kitchener-Waterloo, Ontario and Calgary, Alberta, customers can visit Canadian Tire stores and obtain information on opening up a savings account, a GIC account or obtaining mortages directly from Canadian Tire Financial Services.
[edit] History
CTFS began in 1961 as Midland Shoppers Credit Limited, a small company offering third-party credit services. During this time, many Canadian Tire stores in Ontario signed on to their program. In 1968, the company was bought out by Canadian Tire and re-named to Canadian Tire Acceptance Limited. In 1995, it began issuing a MasterCard, becoming a non-deposit taking, financial institution.
In 2002, Canadian Tire Acceptance Limited became a bank and therefore changed its name to Canadian Tire Financial Services.
Now CTFS provides a number of services no longer just dealing with credit cards but also has expanded to house several different departements including CCR (corporate customer relations) and Canadian Tire's roadside assistance devision, it is also home to CTFS most recent addition Canadian tire online Canadian Tire.
[edit] External links
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