2 Best Canadian Tire Credit Cards In Canada (Dec 2022)

October 3, 2022
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There are quite a few good Canadian Tire credit cards out there, but some stand out above the rest for their impressive welcome bonuses and excellent rewards. I constantly keep up with the latest promotional rates and policy changes and make my recommendations below based on years of experience.

I recommend the Canadian Tire Triangle Mastercard as the #1 Canadian Tire credit card in Canada due to its low credit score requirement and generous cash back rates. It also offers bonus cash back on your first purchase, plus you can exchange your CT Money points for products at a 1:1 rate with CAD.

What Are Canadian Tire Credit Cards?

Canadian Tire credit cards are a type of store-bound reward credit card that allows you to earn cash back in the form of CT Money when you make purchases at partner stores. CT Money can be used to pay for products (partially or in full) at participating stores like Atmosphere, Avis & Budget, Hockey Experts, and Mark’s & L’Èquipeur

In the last couple of years, there’s been a shift towards no-fee credit cards, and some cash back credit card issuers have been quick to follow it. Canadian Tire doesn’t charge annual fees for any of their credit cards, and on top of CT Money, they offer generous cash back benefits at grocery stores and gas stations. If you shop often at any of their partner stores you should consider one of their cards. Without further ado, here are the best Canadian Tire credit cards Canada has to offer:

The Best Canadian Tire Credit Cards In Canada

  1. Canadian Tire Triangle Mastercard: Best for low credit score requirement
  2. Canadian Tire Triangle World Elite Mastercard: Best for high earn rate on Canadian Tire stores

Canadian Tire Triangle Mastercard

Great for high earn rate on Canadian Tire stores
  • Annual Fee
    $0
  • Interest Rate
    19.99% on purchases, 22.99% on cash advances
  • Welcome Bonus
    N/A
  • Rec. Credit Score
    660+
  • Features & Benefits

    • Earn 15% cash back in CT Money on your first purchase as a welcome bonus
    • Redeem your CT Money at Canadian Tire, Sport Chek, Atmosphere, Sports Rousseau, Hockey Experts, and participating Sports Experts stores
    • No annual fee
  • Pros & Cons

    Why we like it

    Great for high earn rate on Canadian Tire stores

    Pros

    • No annual fee
    • 4% back in CT money on all purchases in Canadian Tire stores
    • Earn 5 cents per litre in CT money at Gas+ service stations
    • Collect 1.5% in CT money on all grocery purchase for up to $12,000 per year
    • Get your financed for purchases over $150 at select stores (no fees and no interests)
    • Customer service available 24/7

    Cons

    • You can only redeem CT points at select partner stores (CT, Sport Chek, Atmosphere and Sports Experts stores, among others)
    • High credit score to qualify (at least 660)
  • More Details

    Bonuses and fees 

    The Canadian Tire Triangle Mastercard is no-fee cash back. One of the downsides of the Canadian Tire credit cards is that rewards are paid in CT Money, and you can only redeem them at select stores like Canadian Tire, Sport Chek, and Atmosphere. However, if you shop often at any of these stores, you will find that the cash back rates are very generous.

    Rewards 

    This card has four main cash back categories. You can earn:

    • 4% cash back when purchasing at Canadian, Tire Sport Chek, L’Équipeur, Atmosphere, and more
    • 1.5% cash back at grocery stores
    • 0.5% cash back on all other purchases

    CT Money points are roughly equivalent to $1, which is more than reasonable. Also, keep in mind that cash back on grocery purchases is capped at $12,000 per year.

    Perks and Benefits 

    • Purchases over $150 at participating stores qualify for no fee, no interest financing
    • 5 cents cash back per litre of gas at partner gas stations Gas+ and Essence+

Canadian Tire Triangle World Elite Mastercard

Great for high earn rate on Canadian Tire stores
  • Annual Fee
    $0
  • Interest Rate
    19.99% on purchases, 22.99% on cash advances
  • Welcome Bonus
    $50
  • Rec. Credit Score
    760+
  • Features & Benefits

    • 4% back at Canadian Tire stores, including Mark's Work Wearhouse, SportChek, and Atmosphere,
    • 3% back at grocery stores (up to $12,000 per year),
    • 7 cents per litre of fuel at Canadian Gas+ and Husky locations
    • 1% back on all other purchases
  • Pros & Cons

    Why we like it

    Great for high earn rate on Canadian Tire stores

    Pros

    • Earn 4% back on Canadian Tire, SportChek, and Atmosphere stores
    • Earn 3% back on groceries, and 1% back on all other purchases
    • Earn 7 cents per litre at Canadian Gas+ and Essence+ gas stations
    • No annual fee
    • Concierge service
    • Complimentary membership to the Roadside Assistance Gold Plan

    Cons

    • Rewards are paid in CT money
    • Requires a minimum yearly income of $80,000
  • More Details

    Bonuses and fees

    The Canadian Tire Triangle World Elite Mastercard doesn’t charge annual fees, but it has an $80,000 annual income or a combined $150,000 household income, and it has an estimated 760 credit score minimum.

    Rewards

    Rewards are paid out in CT Money, which is equivalent to Canadian dollars 1:1 and can be redeemed on qualifying purchases at Canadian Tire, Sport Chek, and Atmosphere, among other partner stores. Earn rates at those partner stores yields 4%, also paid out in CT Money.

    Grocery store purchases earn 3%, capped at $12,000 per year, and all other purchases qualify for 1% back.

    Perks and Benefits

    • Purchases over $150 at participating stores qualify for no fee, no interest financing
    • 5-7 cents back in CT Money when refilling at Gas+ or Essence+ gas stations

    Insurance

    The Canadian Tire Triangle World Elite Mastercard has very basic insurance coverage that includes warranty and purchase protection and very basic rental car damage coverage.

How Do Canadian Tire Credit Cards Work?

When you make a purchase at a partner store using your Canadian Tire credit card you automatically earn Canadian Tire Money, also known as CT Money. CT Money can be used to pay for products (partially or in full) at participating stores. 

Some participating stores include Atmosphere, Avis & Budget, Hockey Experts, L’Èntrepôt du Hockey, Mark’s & L’Èquipeur, among others.

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When you use CT Money to make purchases, the equivalence is 1:1 (1 CTM = 1 CAD). There’s also a paper Canadian Tire Money version which can be used in combination with electronic-CTM to make payments.

CT credit cards can be more limiting than regular rewards cards like cash back or travel credit cards if you don’t frequently shop at CT partner stores. Depending on your goals, make sure you pick the credit card that better fits your spending habits so you can make the most out of it.

What Is Canadian Tire Money?

Canadian Tire money, officially Canadian Tire ‘money' or CTM, is a loyalty program operated by the Canadian retail chain Canadian Tire. It consists of coupons, issued by the company, which resemble real banknotes. It can be used as scrip in Canadian Tire stores but is not considered a private currency.

Pros & Cons Of A Canadian Credit Card

Pros: Why a Canadian Tire credit card may be worth it

  • Canadian Tire credit cards don’t charge any annual fees
  • CT Money can be used to make purchases at partner stores at a 1:1 rate with CAD
  • You can earn generous cash back at partner stores and gas stations
  • Quick sign-up process (completely online)
  • Excellent option to build your credit score

Cons: Why a Canadian Tire credit card may not be worth it

  • You can only redeem CT Money at select partner stores
  • High credit score requirement (660+)

How To Choose A Canadian Tire Credit Card In Canada

Interest Rates

Canadian Tire credit cards’ interest rates are in line with the industry average for reward credit cards, sitting at 19.99% for purchases and 22.99% for cash advances. If you fall behind on payments often, it’s very likely that the additional interests will eat away at your potential returns. Make sure you account for interests when picking one of CT’s credit cards.

Welcome Bonus And Promotional Rates

Some CT cards in Canada come with a welcome bonus or promotional rates. Welcome bonuses are one-time rewards for new cardholders, which can take the form of higher earn rates for fixed periods. For CT cards, the Canadian Tire Triangle World Elite Mastercard has the best welcome bonus.

Categories

All Canadian Tire cards offer different categories to earn CT Money. When you pick a card, make sure you choose one that fits your spending habits. For reference, here are some of the most common categories that will earn you CT Money:

  • Groceries
  • Gas stations (participating Canadian Gas+, Husky, and Essense+ locations)
  • Partner stores (Canadian Tire, SportChek, Atmosphere, among others)

How To Redeem Your Canadian Tire Rewards?

To redeem your Canadian Tire Money you have to just show your Triangle Rewards Card when you purchase at any of the partner stores. Some stores allow you to simply provide your phone number or scan your Program App. Here’s the list of the partner stores where you can redeem your CT Money:

  • Atmosphere
  • Avis & Budget
  • Hockey Experts
  • L’Èntrepôt du Hockey
  • Mark’s & L’Èquipeur
  • Party City
  • Sport Chek
  • Sports Experts
  • Sports Rousseau
  • Pro Hockey Life

How To Apply For A Canadian Tire Credit Card In Canada

To apply for any Canadian Tire credit card – and start earning Canadian Tire Money – you need to first become a member. The registration process is completely online and won’t take more than a couple of minutes. Here are the steps:

  • Visit Canadian Tire’s website
  • Download the Program App (available on Android and iOS devices)
  • Fill in some of your basic information
  • Wait for approval

Keep in mind that even if you are not approved for a credit card, you will still be a CT member and will be able to earn CT Money.

Canadian Tire Credit Cards FAQs

Are Canadian Tire Credit Cards Worth It?

When Canadian Tire credit cards might be worth it for you:

  • If you find yourself making a lot of purchases and spending a lot of money every year at Canadian Tire stores and partner stores
  • If you have no trouble keeping up with your monthly credit card payments and are very unlikely to fall behind on payments
  • If you don’t want to pay an annual fee but still want to earn cash back rewards
  • If you have a good-to-excellent credit score

When Canadian Tire credit cards might not be worth it for you

  • If you don’t shop at Canadian Tire or their partner stores
  • If you can’t justify earning CT Money because you don’t shop at their partner stores

What Is The Best Free Canadian Tire Credit Card In Canada?

The best free Canadian Tire credit card in Canada is the Canadian Tire Triangle Mastercard. It offers 15% bonus cash back on your first purchase and 4% CT money on all purchases in Canadian Tire stores.

What Is A Good Credit Score In Canada?

A good credit score is anything between 660-724. Credit score numbers in Canada range from 300 to 900; the higher the number the more trustworthy you are to financial institutions, and the better the perks and benefits you will be able to access. In fact, some credit cards have specific credit score requirements to apply. Here’s a breakdown so you can see how you stack up:

  • Excellent credit score: Between 760-900
  • Very Good credit score: Between 725-759
  • Good credit score: Between 660-724
  • Fair credit score: Between 560-659
  • Bad credit score: Between 300-559

How Long Does It Take To Build Credit In Canada?

It can take from three to six months to see an improvement in your credit score. Ultimately it will depend on your starting score and the credit score you’re aiming for; it can take years of paying your bills and credit on time.

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