You might think you can just pay with your credit card, but that’s not always the case.
Here are the main credit card fees in Canada.1.
$9 for a one-time credit card statement2.
$10 for a two-week credit card or card payment plan3.
$20 for a six-month credit card payment or card account4.
$25 for a year of monthly credit card payments5.
$35 for a credit or debit card statement.
(Note: not applicable to cash, check, money order, and credit cards)6.
$50 for a 12-month prepaid credit card plan7.
$100 for a three-year prepaid credit or credit card account.8.
$250 for a 15-month extended credit card program.9.
$300 for a 16-month extension credit card.10.
$400 for a 21-month line of credit.11.
$500 for a 24-month direct debit card account (no credit or banking requirements)12.
$1,000 for a $1-million line of business credit or bank account.13.
$2,000 (not including taxes) for a new line of direct deposit.14.
$3,000 or more for a direct debit or ATM account.
(note: not a new bank account)15.
$5,000, plus any applicable taxes, on a $100,000 home equity line of investment.16.
$6,000 on a single, separate mortgage, with the option to increase the loan size.17.
$15,000 per year on a home equity loan or mortgage extension.18.
$30,000 plus taxes on a condo, apartment, or condo-style house.19.
$60,000 in a loan, loan extension, or home equity credit card purchase.20.
$75,000 combined in the first five years of a home purchase.21.
$150,000 over the life of the home, including on any of the following:a) an interest-only loan, home equity installment loan, or mortgage loan for less than five years.b) a mortgage loan with a term that ends in the last year of the loan term.c) a home loan with credit default protection (CDP).d) a residential mortgage with credit enhancement.e) a commercial mortgage with a homebuyer’s insurance (HIB) guarantee.f) a loan with the term of the mortgage or homebuyers insurance.g) a credit line, or credit extension, for the first time.h) a short-term loan or credit line for more than five days.22.
$200,000 of the proceeds of a $500,000 loan or a $2 million home equity purchase, plus taxes.23.
$450,000 if you purchase a home with an insurance policy.24.
$750,000 upon the closing of a commercial loan.25.
$4,000 a year for six years from the date you purchase your first home.26.
$7,000 annually on your mortgage for 10 years, plus $300,000 when you purchase additional homes.27.
$18,000 at the end of the first year on your loan, plus up to $200 per month for 20 years.28.
$24,000 from the sale of a condo.29.
$8,000 each year on an apartment.30.
$19,000 and $50,000 after 10 years of paying off a home insurance policy, and up to 50% on an auto loan.31.
$32,000 with a $200 annual mortgage loan.32.
$36,000 monthly on an annuity.33.
$48,000 to $90,000 an annual lump sum payment on your property tax bill.34.
$80,000 yearly on a retirement plan.35.
$128,000 by the end