As of 2015, the annual interest rate of a Canadian Tire Bank-issued Canadian Tire Options MasterCard is 19.99 percent. This interest rate does not apply to cash transactions and their related fees. The interest rate for cash transactions and their related fees is 22.99 percent.
For applicants who do not receive approval at these rates, the Canadian Tire Bank may issue the Canadian Tire Options MasterCard with a higher interest rate. In such cases, the annual interest rate is 25.99 percent, and the interest rate for cash transactions and related fees is 27.99 percent.
Cash advances, money transfers and convenience checks are examples of cash transactions, notes the Canadian Tire Bank.