Canadian Tire Options Mastercard is collecting incredible high late fees that are way out of proportion.
Late fee payments are stretching over 2 months.
In my example a three days late fee for an amount of 1436$
The first collected interest was an amount of 30.32$. But that is not enough the following month a follow up interest rate (the explanation I got for that is very foamy) was 14.28$.
To sum it an interest of 44.60$ which is around 2.5% was collected for a three days late payment of 1436$.
I just recommend to rethink before signing with Canadian Tire Options Mastercard.
Just a hint. They don't process payments on Saturday and Sunday which can cause such an interest payment.243
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