TORONTO - Canadian Tire Corp. and MasterCard International Inc. have teamed up to offer a cobranded credit card.
The card, to be called the "Options MasterCard Card by Canadian Tire," will be issued by Canadian Tire Acceptance Ltd., the financial services unit of Canadian Tire Corp., a major retail chain specializing in automotive, hardware, sports, and home repair products.
The card, which will be accepted at all MasterCard locations, will also allow Canadian Tire customers to collect points in a loyalty-rewards program.
Canadian Tire said it is issuing the card on a test basis at first, to a random sample of qualifying Ontario residents who currently participate in an existing Canadian Tire store loyalty program. If the test is successful, the card will be launched in the rest of Canada within 18 months, it said.