this post was submitted on 07 Apr 2025
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For example is the Canadian Tire card just a Visa or MasterCard in disguise?

I'm switching to interact for as many transactions as I can but I would like to be able to cancel my visa if there's an alternate.

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[–] Amaranth@lemmy.ca 6 points 6 days ago (1 children)

I recently asked this as well. I have a line of credit/Visa through my bank and an AMEX card. No balance on AMEX, small balance on Visa.

At this moment, there doesn't seem to be a true 100% Canadian credit card to compare/compete with the big US cards (ie Visa, MC, AMEX). Think of the HUGE amount of $$$ the US collects from us in interest/annual fees. Is this $$$ even considered in the "trade imbalance" between 🇨🇦 and 🇺🇲?

It's pretty difficult for most of us to get by in the modern world without having access to a CC. I don't know if you can even book a hotel room or rent a car without one. For online shopping, usually the only options for payment I've seen are CC or PAYPAL. There used to be an option for Interac but it doesn't seem to be as common antmore. We could opt for no-fee cards and pay the balance off every month, but I know not everyone can afford to do that. Some are living hand to mouth and buying groceries with their CC.

It would be amazing if we 🇨🇦 had our own CC. I'd switch in a heartbeat.

[–] masterspace@lemmy.ca 6 points 5 days ago* (last edited 5 days ago)

I believe when calculating tariffs they are explicitly calculating based on goods, not services, which just so happens to leave all American tech and financial companies out of the calculations.