ONTAB Credit financing solution is for customers with a credit card balance that offer a loan with lower interest payments and improve your credit score. You can apply for a loan from $500.00 – $25,000.00 and can pay in monthly installments up to 24 months.
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Anyone with a valid Canadian Credit card (except resident of NB, SK and QC) can apply. Visit our website and complete the information requested through ‘Apply Now’ application process. We will assess your application based on the details you provide us to determine if you are approve for ONTAB Credit. See FAQ for credit check and credit rating for further information on credit bureau hits.
Ready to apply? Click here.
It depends on your Loan amount. For loans under $10,000, we will do a soft credit check. This soft check will not impact your credit score. For loans over $10,000, we may do a hard credit check. This will show as an inquiry on the applicant’s credit score.
Similar to other forms of credit, failing to meet your repayment obligations as set out in the ONTAB Terms & Conditions (T&Cs) could affect your credit rating and affect your ability to be approved for future loans where the application involves a credit check.
We are sorry to hear you did not get approved for the amount you applied for. When assessing financing applications, each case is unique and we need to take a number of things into consideration, which can affect whether you get approved for an account and for the amount you requested. When you apply, it gives us an opportunity to understand your income and spending habits. ONTAB want to make sure that you can comfortably meet ONTAB Credit’s repayment requirements. An example of something that may affect your application is your repayment history, such as your on your credit card, existing loans, or utility bills. Please try for a smaller amount, otherwise we hope you will consider ONTAB again in the future.
We may ask for documents to assist us in verifying your identity or assessing your application for a ONTAB Credit loan. If we do require documents we will email you with our specific request. For more information on how we process your documents please see our Privacy Policy.
No, unfortunately we only allow one loan per person, per credit card.
ONTAB Credit is available to all Canadians except those with mailing or billing addresses in Saskatchewan, Quebec, and New Brunswick.
To check your account balance, or how much you owe on your loan with ONTAB, log into your ONTAB account. You will see the outstanding balance and credit you have available on your dashboard.
You can change your address by going to Settings > Personal Details on the app or on the website. To change other details, complete this form and we will be in touch.
To change the registration email or mobile number on your account, please contact us here and a customer support team member will be in touch to help complete this request.
You can change the name on your ONTAB account if your name has been legally changed. Just complete this form. We may ask you for a copy of an official document that shows your new legal name. You cannot transfer an ONTAB Loan account to another person.
You can change your address by going to Settings > Personal Details on the app or on the website. To change other details, complete this form and we will be in touch.
Once you’ve repaid your loan in full, if you would like to close your account, please complete this form and include ‘I would like to close my account’ in the message, and we will be in touch.
At this time, the only fee we charge is the NSF Fee at $25. Please ensure you have funds available on your account at the time of your payment due date to avoid this fee.
We do not plan to add more fees, but if we do, we will make sure to update the website at least 60 days in advance and notify you by email at least 30 days in advance. Please ensure we have the correct email on file at all times.
With ONTAB Credit, repayments are spread over time – over monthly repayments up to 24 months for loan between $100 – $25,000. When you apply for ONTAB Credit, we will ask you to connect a funding source for repayments. This funding source can be a bank account (through a Pre-Authorized Debit or PAD) . Repayments are then automatically deducted from the connected funding source when they are due. You can see your repayment schedule under your ONTAB profile.
Payments are processed according to the agreed repayment schedule. Payments are processed regardless of the day of the week or whether it is a public holiday or not. If your payment schedule is set for monthly payments and the date falls on a Saturday; the monthly payment will be processed on the Saturday. It is your responsibility to ensure that funds are available for the payment due date.
We suggest checking with your financial institution first to make sure the payment has not gone through and that there are no issues with the account you provided. You can then check your account and attempt the payment again. If this fails, please contact us by completing this form.
If you are experiencing financial difficulties or expect to have problems making your payments on time, please contact us as soon as you can. We are here to help and will work with you to find the right solution that fits your circumstances. You can reach our friendly support team by completing this form.
If a payment is unsuccessful on the due date we will send you an email to let you know. We will automatically retry the repayment method the next day. We will also send you reminders by email.
Please note that in addition to our $25 NSF fee, your financial institution may charge you an NSF fee as well for each missed payment.
To avoid NSF charges, please contact us using this form at least 5 business days before your payment due date to make an alternate arrangement.
It may take up to 24 hours for a card payment to reflect in your outstanding balance in your app or online account. Automatic withdrawals from your bank account may show as “pending” while your bank confirms the payment. If the payment does not appear after 24 hours please get in contact with our team by completing this form and we will be in contact.
No, there are no additional fees or charges when making repayments.
Yes, you can pay off your ONTAB Loan early without any additional fees or charges. You will only pay the balance owed on the date you make the payment. You can do this by logging into your ONTAB app or online account and make a payment for the amount of your outstanding balance.
Please report vulnerabilities or any security concerns as soon as possible so that we can review and improve the safety and reliability of our systems. To report a vulnerability, use this form or email us at security@ontab.com.
Please use this form to report any privacy issues or concerns, or address your questions to Director, Risk and Compliance by email at privacy@ontab.com.
If you don’t recognize the sender or you’re uncertain about the authenticity of any emails, do not open it and do not click on any links or open any attachments. Contact us through this form.
Please message us using this form or email us at credit@ontab.com for any ONTAB Credit related questions. You can call us at 1-844-MY ONTAB (1-844-696-6822)
