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CANEX’s No Interest Credit Plan and CANEX.ca 

 

The CANEX No Interest Credit Plan can be used to purchase products on CANEX.ca.  There are some key differences between using the CANEX No Interest Credit Plan in-store versus online at CANEX.ca:

  • To use the CANEX No Interest Credit Plan on CANEX.ca, you must possess a valid CFOne Card. The 10-digit CFOne number on your CFOne Card will be the required number you use to apply for the CANEX No Interest Credit Plan on CANEX.ca.
  • Use of the CANEX No Interest Credit Plan on CANEX.ca is only available to the following eligible patrons On Approved Credit (OAC):
    • Members of the Regular Force
    • Members of the Reserve Force
    • Foreign military personnel on exchange duties filling established positions provided their service period at that location is six months or more, and the repayment period on the Conditional Sales Contract (CSC) does not exceed the end of their tour of duty.
    • CF Veterans
    • Permanent full-time and part-time DND public servants (including DRDC, and DCC).
    • Permanent full-time and part-time NPF employees.
    • Permanent full-time and part-time MFRC employees.
    • Members of the RCMP (includes serving uniformed and civilian RCMP members).
    • Former Staff of the NPF in receipt of a pension
    • Former DND Public Servants in receipt of a pension
    • Former RCMP in receipt of a pension
  • The CANEX No Interest Credit Plan is not eligible for:
    • Cadets & Junior Rangers or
    • Anyone under the age of 18

 

Limits

  • There is no limit to the number of credit plans that an eligible member can hold, but the minimum purchase for each plan must be $499.99 ($1,000 for the 24 and 36 month payment plans) to a maximum financed total of $6,500 (larger purchases may still be made – however, excess must be paid at time of purchase). The maximum length of time over which a credit plan can be financed is 36 months.
  • Customers can choose either the 12, 24 or 36 month payment plans.
  • On Approved Credit (OAC)*

 

On approved credit (OAC)*

Eligibility is always subject to “On Approved Credit” (OAC), which is determined by the combination of their credit score and their credit availability, as detailed on the NPF Accounting credit availability report (CA). The credit score utilized is provided by a third party company (currently TransUnion). Based on the customer’s TransUnion credit score (TU), the following grid is used to determine the maximum potential credit:
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.

Credit scores of 0, with no credit history will qualify for up to $4,500.

For the new category of Pensioners and Veterans, the following grid is to be utilized:
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.)

 

Down Payment

  • 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.
  • A customer 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 hidden handling or administration fees. When choosing our 24 or 36 month payment plans, while there is no interest applicable, an administration fee of 2% for the 24 month plan and 3% for the 36 month plan will be added to the purchase and be incorporated into your monthly payments.

 

Payment

  • There are three methods of payment available for the CANEX Credit Plan;
    a) 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.
    b) 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.
    c) 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.

Welcome to CANEX.ca, Canada’s Military Store!

As a proud division of the Canadian Forces Morale and Welfare Services, CANEX has developed this exclusive shopping website to better serve the retail needs of the Canadian Armed Forces (CAF) Community.

By clicking here, you confirm that you are a member of the Canadian Armed Forces or part of the extended CAF community.