Canadian Tire Money

Canadian Tire "money" (CTM) is a Loyalty Program by Canadian Tire . It consists of coupons, issued by the company, which resemble real Currency (although the coupons are considerably smaller than Bank Of Canada notes), and can be used as Scrip in Canadian Tire stores. The notes are printed on paper similar to real Canadian currency, by the same private companies. In fact, some privately-owned businesses (in Canada) accept CTM as payment, since the owners of many such businesses shop at Canadian Tire.

HISTORY AND DYNAMICS

CTM was first introduced in 1958 , as a response to the promotional giveaways that many gas companies offered at the time. It was only available at Canadian Tire gas bars, but was so successful that in 1961 it was extended to the retail stores as well, and has become the most successful Loyalty Program in Canadian retail history.

Canadian Tire money is given out for purchases paid for by cash or debit, usually at a rate of 1.5% of the pre-tax total. This is much less than in years past, when the pay-out rate was 3, 4 or 5%, depending on the market size of the store. Customers can use Canadian Tire money to buy anything in the store. (Older CTM coupons state that they are redeemable at Canadian Tire stores and Gas Station s, however CTM coupons produced during at least the last 15 years lack this wording and are therefore redeemable in the stores only.) The "money" can also be used to cover the Sales Tax on the purchases, since it is accepted as cash after the taxes are calculated. Also, even if a purchase was made entirely in CTM, it is also considered as a cash purchase and more CTM will be calculated and paid out.

DENOMINATIONS

CTM coupons are currently produced in 5-cent, 10-cent, 25-cent, 50-cent, one-dollar, and two-dollar denominations. In addition, Canadian Tire money can now be earned electronically on Canadian Tire Credit Card s and the Canadian Tire Options MasterCard . The latter can be used wherever MasterCard is accepted and earns Canadian Tire money no matter where it is used to make a purchase (and at a preferential rate when used to make a purchase at Canadian Tire). Many customers find this to be a more convenient means of storing Canadian Tire money.

TRIVIA

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Canadian Tire Money