Re: will debit mastercard post to cra

Posted by mk_378 (128.173.39.33) on August 04, 2004 at 15:40:26:

In Reply to: Re: will debit mastercard post to cra posted by catb on August 04, 2004 at 14:28:42:

This happens when you pay at the pump. The pump doesn't know how much gas you're going to buy when it approves your card. So it takes out $50 or more and eventually puts it back. If you don't have enough in the account, it may get declined, and/or the bank may use this to screw you with a phony overdraft fee.

To avoid this problem, pump first then take your card to the cashier and pay. Then the charge will only be for the exact amount you bought. If the station requires you to pay first, again go to the cashier and tell them exactly how much to charge.

Getting back to the original question, if you have overdraft protection on a bank account (whether there's a card or not), it may report to CRA's. That is a type of credit. Otherwise savings and checking accounts do not appear on credit reports.

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