Vault cards are not credit cards; they are secured charge cards. This means you must have sufficient funds in your account to make purchases using the card.
These Vault cards are tied to your currency balances (CAD, USD, GBP, EUR), allowing you to spend directly in these currencies without incurring FX fees. You’ll also earn 1% cashback on your spending.
No credit limit: There is no specified credit limit with the cards.
Secured charge card functionality:
You must have funds in your account to spend.
No interest charges apply.
No credit checks or guarantees are required.
Vault Mastercard charge cards are issued by Peoples Trust Company under license from Mastercard International Incorporated. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.