October 10, 2017
March 30, 2017
They had it for the longest time around 1.5-1.7% last few years before covid even when CU and others beat them hands down with 2-3% rate. So my theory is CT target a staple funding rate in the 1.5-2% range ? If that is true, their rates are probably more sticky and wont move much. Last thing they want is to drop rates and then see a substantial deposit withdrawal. If they can fund it at 2% and then charge 20% on the CC balance, why not...
January 9, 2011
February 17, 2013
That would be in contradiction to their current policy as found by Norman1, above #35.
Quote is Canadian Tire "Money"...as in the CT bills they give you at checkout. Would be impossible to use those on line. Could be wrong as I don't use CT M/C, but I believe "Points" are digital CT money, which CAN be used online. Can you convert?
October 27, 2013
My theory is people aren't making their MasterCard payments, and they need this source to help fund the higher outstanding balances.
That would be my amateur theory too. The only reason CT really "needs" a bank in the first place is to provide an alternate mechanism to source funds to manage the gap between payments to vendors and credit card customers paying their bills.