CANEX’s No Interest Credit Plan and CANEX.ca
Updated October 1st, 2020
The CANEX No Interest Credit Plan can be used to purchase a selected product on CANEX.ca or at any of our CANEX locations. A valid CFOne Card is required to use the CANEX No Interest Credit Plan.
To use the CANEX No Interest Credit Plan on CANEX.ca, you must sign in to CANEX.ca as a member and select the E-Credit Plan as the payment method at checkout.
The CANEX No Interest Credit Plan is only available to the following members On Approved Credit (OAC):
- Members of the Regular Force
- Members of the Reserve Force (Class A/B/C)
- Veterans (Former Members of the CF) – in receipt or not in receipt of a pension
- Extended Security & Defence Team, including:
- DND – Department of National Defence Public Servants
- CSE – Communications Security Establishment
- DCC – Defence Construction Canada
- DRDC - Defence Research and Development Canada
- MFRC's – staff of Military Family Resource Centres
- NPF – Staff of the Non-Public Funds (CFMWS Employees)
- Members of the Coast Guard
- Members of the RCMP (includes serving uniformed and civilian RCMP members).
- Members of Foreign Military currently serving with the CF
- Former Staff of the NPF in receipt of a pension
- Former DND, DRDC, DCC, CSE Public Servants in receipt of a pension
- Former RCMP in receipt of a pension
- Former members of the Canadian Coast Guard in receipt of a pension
- Canadian Rangers
- Cadet Organization Administration and Training Service (COATS)
The CANEX No Interest Credit Plan is not available to:
- Cadets & Junior Rangers or
- Anyone under the age of 18
Eligible products (non-consumable products only):
Stationery, books, military, womenswear, menswear, jewelry/accessories/giftware, sports and recreation, Health and Beauty Aids (HABA), toys, lawn and garden, audio/TV, housewares, linens, furniture, photography, extended warranty, major appliances, local vendors & meat (Petawawa & Valcartier only)
- Gift Cards
- There is no limit to the number of CANEX NO INTEREST credit plans that an eligible member can hold. The minimum purchase after tax for any credit plan must be:
- at least $500 for 12-month payment plans
- 1,500 for the 24-month payment plans and
- $2,500 and up for 36-month payment plans.
- The maximum term for a credit plan is 36 months and the maximum amount that can be financed is $6,500.
- CFOne Members can choose either the 12, 24 or 36-month payment plans.
On Approved Credit (OAC)*
Eligibility is always subject to "On Approved Credit" (OAC), which is determined by the combination of your credit score and your credit availability, as detailed on the NPF Accounting credit availability report (CA).
A third party company (TransUnion) provides the credit score utilized. Based on the customer's TransUnion credit score (TU), the following grid is used to determine the maximum potential credit:
For Canadian Forces Members:
- Credit scores of 500 and above qualify for up to $6,500.
- Credit scores of 450-499 qualify for up to $4,500.
- Credit scores of 400-449 qualify for up to $2,500 (essential goods).
- Credit scores of 399 or less will not qualify for credit.
- Null Credit scores or those with no credit history will qualify for up to $4,500.
For all other eligible members, the following grid is to determine the maximum potential credit
- Credit scores of 600 and above qualify for up to $6,500.
- Credit scores of 550-599 qualify for up to $4,500.
- Credit scores of 500-549 qualify for up to $2,500.
- Credit scores of 499 or less will not qualify for credit.
- Null Credit scores or those with no credit history will not qualify for credit with the exception of the Extended Security & Defence Team. Extended Security & Defence Team members with null credit scores or those with no credit history will qualify for up to $2,500.
- For Members of Foreign Military currently serving with the CF, please contact the local NPF accounting office
- No down payment is required, not even the taxes unless the value of the credit plan, including all outstanding credit plans, exceeds the maximum allowable amount.
- A member making a higher down payment may still finance the balance over the same number of months, only in smaller installments.
- In the case of our 12-month payment plan, there are no administration fees. When choosing our 24 or 36-month payment plans, while there is no interest applicable, an administration fee of 3% for the 24-month plan and 4% for the 36-month plan will be added to the purchase and be incorporated into your monthly payments.
There are three methods of payment available for the CANEX No Interest Credit Plan:
1) Pre-Authorized Debit (PAD): The first payment is due one month after the date of purchase; a customer can choose either the 15th or 30th of each month for the term of the plan.
2) Military Pay Deduction (MPD): Payment will commence and appear on the Military pay record on the 15th of the second month following the purchase. MPD is available to Canadian Forces members only.
3) NPF Employee Pay Deduction: The first deduction will be the first pay period of the second calendar month following purchase. NPF Employee Pay Deduction is available to full-time NPF employees.
Outstanding amounts become due when eligibility ceases.