<p>COVID-19 Pandemic</p>

COVID-19 Pandemic

In these challenging times, we want to provide you with an update regarding Collabria's response to the situation surround the COVID-19 Virus.

COVID-19 Latest Updates

We are committed to supporting your needs during this challenging time. If you are experiencing financial hardship as a result of the COVID-19 pandemic you can apply for the following Temporary Financial Relief measures.


  • Minimum Payment Deferrals & Temporary Interest Rate Reduction for cardholders impacted by the COVID-19 pandemic. Cardholders may defer minimum payments on their credit card and request a temporary reduction of the interest rate on purchases and cash advances to 10.9% monthly, for up to 3 months. The offer may be extended for up to an additional 3 months, depending on cardholder needs and circumstances.  
  • For Canadians stuck outside Canada and trying to get home, we can provide emergency credit limit increases to cover airfare, car rentals, food, shelter, medical supplies, medications, and other expenses. 
  • Increased Contactless Payments to $250 for all merchant purchases (wherever merchants have enabled acceptance of higher contactless transactions). 

For more information on our program please see a list of frequently asked questions below.  If you are in need of financial relief please call our Contact Centre at 1-855-341-4643 and we will work with you to discuss how we may be able to help you.
 


Q. I keep hearing there is an increase in fraudulent emails and phone scams relating to COVID-19. How do I know which ones are legitimate?

A. Do not respond to unsolicited emails, text messages, website or pop-up windows that request personal or confidential information such as your credit card number. Collabria will never send you emails asking for confidential information such as your password, PIN or credit card numbers. For additional information please visit the Canadian Anti-Fraud Centre website.

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Financial Relief FAQ's

Q. What do I do if I want to apply for your Temporary Financial Relief Program?

A. If you are experiencing a financial hardship due to the impacts of the COVID-19 pandemic, please call our Contact Centre at 1-855-341-4643 and we will work with you to discuss how we may be able to help you.


Q. If I defer my minimum payment will I still be charged interest?

A. Yes. All cardholders participating in Collabria’s Financial Relief Program, except for Centra Gold, will continue to accrue interest charges at the temporary interest reduction rate of 10.9% and those charges will be added to your outstanding balance.

We do not charge interest on accrued interest. This interest reduction will be reflected as an interest credit. You’ll receive an interest credit for every month of your deferral period, and you’ll see it on the following month’s statement.

Once your payments resume, your Minimum Payment may be higher as a result of the higher outstanding balance.

During the relief period you always have the option to make one or more payments toward your outstanding balance.


Q. What should I consider before I request participation in the Temporary Financial Relief Program?

A. Given these extraordinary circumstances, it's important to look at all your options, including the support programs put in place by federal, provincial and municipal governments. The link to the Government of Canada’s site is Government of Canada's COVID-19 Economic Response Plan


Q. What interest rate will I be charged if I qualify for the Temporary Financial Relief Program?

A. Cardholders that qualify for a payment deferral will also have their purchases and cash advances interest rate reduced to 10.9% for the duration of their deferral. When the deferral period is completed, your interest rate will revert to your standard interest rate as outlined on your monthly mailed statement or eStatement on MyCardInfo.

To access MyCardInfo or to sign up, please visit www.collabriacreditcards.ca and select your credit union.


Q. Do I have to pay any fees or penalties with the Temporary Financial Relief Program?

A. There are no fees or penalties charged for the Temporary Financial Relief Program.


Q. If I defer my minimum credit card payment, how will this affect my credit score?

A. Deferred payments as part of Collabria’s Temporary Financial Relief Program will not be reported to credit bureaus as late or missed payments so will not affect your credit score.

However, your credit score is based on may factors, including the balance owing on your credit card. If you have any questions about your credit score or how it is calculated you can visit TransUnion at www.transunion.ca or Equifax Canada at www.equifax.ca


Q. How many times can I defer my monthly payment?

A. If you continue to experience financial hardship due to the COVID-19 pandemic, you can call us to defer your Minimum Monthly Payment monthly, for up to 3 months initially and for up to an additional 3 months if required (a total of 6 months.)


Q. What happens if I am not back to work at the end of the 6 months and I can’t continue to defer my payments?

A. Our Temporary Financial Relief Program will continue to evolve as we all live with the impacts of the COVID-19 pandemic. We will assess our program on a regular basis and adjust, as needed.


Q. If I have a monthly pre-authorized payment set up to pay my credit card account, will this payment stop if I qualify for minimum payment deferral?

A. There are several different answers to this question depending on your unique situation. If you currently have:

  • Pre-authorized payments set up through your bank account, you will need to contact your credit union or financial institution to pause these payments.
  • Set up AutoPay on your Collabria credit card to pay your full or partial balance we will automatically cancel this for you when we process your temporary minimum payment deferral.
  • An autopay set up on your Collabria credit card to pay your minimum payment, no change is required as your new minimum payment will be zero.

Q. Can I use my reward points to pay down/reduce my credit card balance?

You can redeem Collabria reward points as a statement credit to lower your outstanding balance. Statement credits are not considered payments so the minimum payment due on your monthly statement must still be made by your payment due date. Please note that it can take up to 45 days for a statement credit to appear on your account.


Q. How do I use my points to pay down my credit card balance?

In order to reduce your credit card balance with Collabria reward points, you need to redeem your points for a Statement Credit. You must first register on the rewards website prior to redeeming points. To access the rewards website, login to MyCardInfo and select the 'Browse Rewards' button.


Q: Are business credit cards eligible for the Temporary Financial Relief Program?

A. Yes, all Business Cards are eligible for our Temporary Financial Relief Program.


Q. If I have Power of Attorney for someone who is unable to apply for your Temporary Financial Relief Program, can I request relief on their behalf?

A. Yes, a cardholder representative with Power of Attorney can apply for relief on the cardholder’s behalf.


Q. What else are you doing to support me during this time?

A. In the weeks ahead we will keep you updated about programs we are putting in place to help you through this difficult time.

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Trip Cancellation / Out of Country Medical

Q. What does my credit card travel and out of country medical insurance cover?

A. All Collabria’s credit card travel insurances are provided by Desjardins Financial Security Life Assurance Company (DFS). Please consult your travel insurance contract booklet, also available on line on your Credit Union’s web site or, for general information, the DFS website at desjardinstravelinsurance.ca or call 1-800-463-1623 if you have additional questions about your coverage


Q. Why can’t you tell me what my travel and out of country medical insurance covers?

A. We want to ensure you have the most up to date information that our insurance provider - Desjardins Financial Security Life Assurance Company (DFS) – can provide. For updated information, visit desjardinstravelinsurance.ca or call 1-800-463-1623.


Q. How do I submit an insurance claim online?

A. Visit desjardinstravelinsurance.ca and click on “Claim” to find the right Claim form. Please note, there is an English Language toggle button on the top right corner of the page as well. From there, follow the applicable steps to enter your claim details and send your information directly to the insurer.


Q. What is the impact of the COVID-19 pandemic on rewards redemptions that I made on my account for flights, cruises, hotels or events?

A. Given restricted travel and travel bans, we are making temporary changes to our rewards program policy to provide you with more flexibility in changing or cancelling previously booked travel and event ticket bookings using rewards points as follows:

Airline booking: The Rewards Travel Agent team will work on the behalf of the cardholder to secure a credit with the carrier for future travel. The Rewards Travel Agent team will follow-up directly with the cardholder to further explain the process and next steps.

Cruise booking: The Rewards Travel Agent team will work with the cardholder and the cruise line to cancel or rebook the trip. Any refund will be completed in points.

Hotel booking: The Rewards Travel Agent team will work with the hotel to either amend or cancel the hotel reservation, based on the cardholder wishes and the hotel policies. Any full or partial refund will be completed in points and/or a refund to the credit card.

Event ticket booking: The Rewards team is proactively working with their event ticket supplier to notify cardholders about events that have been cancelled and providing full refunds for concerts or events that have been cancelled. If an event is postponed, the cardholder has the option to accept the new date or request a full refund.

Please note that if a refund is approved, it will take 1 to 2 statement cycles for the refund to appear on your credit card statement.

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General

Q. I keep hearing there is an increase in fraudulent emails and phone scams relating to COVID-19. How do I know which ones are legitimate?

A. Do not respond to unsolicited emails, text messages, website or pop-up windows that request personal or confidential information such as your credit card number. Collabria will never send you emails asking for confidential information such as your password, PIN or credit card numbers. For additional information please visit the Canadian Anti-Fraud Centre website.


Q. My credit card has been declined and I am not able to use cash at some retail locations. How can I get my credit card working again?

A. Please call our contact centre at 1-855-341-4643 and one of our customer service representatives will be able to assist you. We are experiencing higher than usual call volumes due to the COVID-19 pandemic and thank you for your patience as we ensure we support all our cardholders during this difficult time.


Q. Is it safe to touch my credit card after using it at a payment device?

A. We are not medical experts and can’t comment on what is safe or unsafe regarding the COVID-19 pandemic. We strongly encourage all cardholders to stay up to date on the latest public health guidelines regarding important actions like washing your hands and physical distancing. If you have health related questions, a good place to start is this Government of Canada website.

All our credit cards have contactless payment, commonly referred to as “tap and go.” We also offer Apple Pay. To learn more about Apple Pay and to sign up open the app, select the plus sign and follow the on-screen instructions. You can also add your Collabria credit card through your iTunes® account. For additional information on adding your card, please review this Apple Pay website, which includes videos and instructions.

To better meet your needs during this time we have increased contactless payments to $250 at all merchants (wherever merchant terminals allow higher contactless transactions.)


Q. How can I safely pay for food delivery?

A. As we are not medical experts, we cannot advise you regarding safety. There are options to pay for your delivery orders, depending on the food service provider. Some providers can offer contactless payments or “tap and go”, the ability to pay online at the time of order and have your food delivered to your home or to your vehicle for “curbside pick-up.” Please go to your food service provider’s website or call them directly to understand what options are available to you.

All Collabria credit cards have contactless payment, commonly referred to “tap and go”. We also have Apple Pay. To learn more about Apple Pay and to sign up open the app, select the plus sign and follow the on-screen instructions. You can also add your Collabria credit card through your iTunes® account. For additional information on adding your card, please review this Apple Pay website which includes videos and instructions.

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