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Credit Resources at your fingertips

Online Resources offer more information about credit.

By learning more about credit, you’ll be in the best position possible to make informed choices about the way you manage it. You can always refer back to this site for advice and guidance. Plus, there are many other online resources that can help you learn and stay informed. Just follow these links:


TransUnion

Formed in 1989, TransUnion Canada offers consumer credit related products and services to the Canadian market. Visit the TransUnion website to request a free copy of your TransUnion credit report.

Find out more


Equifax Consumer Services of Canada

In business since 1919, Equifax delivers sophisticated decision-making, data, fraud and e-commerce solutions that allow Canadians to conveniently participate in millions of financial transactions daily. You can request a free copy of your Equifax credit report by mail.

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Credit Canada

Credit Canada is a non-profit credit counseling organization dedicated to helping Canadians overcome serious debt problems. Their aim is to empower consumers with knowledge about debt management and budgeting. On their website, you can access a wealth of information, including a debt calculator and educational credit resources.

Find out more

Financial Consumer Agency of Canada (FCAC)

The FCAC is a government agency that works to protect and educate consumers when it comes to financial services. On their website, you’ll find interactive tools, credit card calculators, tips for using credit cards sensibly and ways to protect yourself and your personal information.

Find out more


IMPORTANT INFORMATION

How the New Federal Credit Regulations Will Affect You

For more than 50 years, American Express has helped millions of customers around the world manage their finances conveniently and securely. We have always been committed to treating our consumers with fairness and respect. Our success depends upon it.
Unfortunately, many people do not associate fair treatment with the credit card industry today. In response, the Canadian government has amended the Cost of Borrowing regulations and introduced ‘Credit Business Practices’ regulations to reform consumer credit card billing practices, pricing, and disclosure requirements.
Some changes are due January 1st 2010, while others are not due until September 1st 2010.


Your Credit Card Limit

Overview: Before January 1st, 2010 under federal law, credit card issuers were able to immediately increase the limit on credit  cards. The new law requires consent to increase credit limits.
For American Express Customers: Your approval (written, electronic or voice) will be required prior to increasing your credit limit, if qualified.


Debt Collection Practices

Overview: Before January 1st, 2010, only collection agencies were regulated through provincial legislation as it related to debt collection practices. The new federal law applies to banks and ensures fair and transparent practices to collect a debt.
For American Express Customers: It has always been our practice to collect debt in a fair and respectful manner, so our customers will not experience any significant change in this area.


Card Terms and Conditions

Overview: The new federal law requires clear communication of card terms and conditions and applicable fees.
For American Express Customers: Our practice has always been to communicate transparent terms and conditions of our card products to consumers. American Express card material will be enhanced to continue to deliver these standards by adopting a new information box summarizing product details.


Upcoming Changes

Our customers will receive notice in 2010 of further changes related to:
-how interest will be calculated
-how payments will be applied to outstanding balances
-how statements will change

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