Why you need a credit card and how to get one

So, you don’t have a credit card yet, and you want to get one. Makes sense! Credit cards can be a helpful financial tool to build your credit history, pay for things online, and cover emergency expenses. Here’s some info and how to get started.

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Why do I need a credit card?

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Credit cards are extremely handy in today’s day and age. They can help you shop with confidence and earn valuable rewards like cash back, travel rewards, and more.**

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Here are some reasons you may want to consider getting a credit card:

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• ‍Build credit history: Responsible use of your credit card helps establish a positive credit score, which is essential for things like future loans, mortgages, or renting.‍
• Mandatory expenses: Credit cards are sometimes necessary for making reservations (hotels, car rentals) and they provide a convenient way to shop online or manage large purchases.‍
• Security: Credit cards often offer superior fraud protection over debit cards, since fraudulent charges don’t remove funds from your bank account right away.‍
• Emergency financing: Credit cards provide immediate access to funds for covering unexpected, essential expenses, like car repairs or vet bills.
• And bonus, for rewards and perks: Many credit cards offer cash back,¹ travel points,** or insurance coverage, like extended warranty² and travel insurance.³

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Key requirements for a credit card application

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To be eligible for a credit card in Manitoba, you usually need to:

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1. Be 18 years of age or older.
2. Be a legal resident of Canada with a Manitoba address.
3. Have the proper documentation, including your social insurance number, employment information, and personal income.
4. Have proof of annual income, e.g. paystubs.

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Note: There are some exceptions. Speak with an advisor for more information.

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How to get a credit card with Cambrian

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Cambrian offers Collabria Mastercard® credit cards, and applying is easy! You can:

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1. Book a meeting: We can meet you via video, phone, or in person to review our Collabria Mastercard options and complete your application together.
2. Apply online: If you already know which card you want, you can click your card of choice and apply here.

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If you’d like to do some of your own research before applying, try our handy dandy Card Selector Tool. It will ask you questions and suggest a card based on your answers.

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Use our rewards calculator to estimate how many points you can earn annually through each of the cards we offer through Collabria!

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Be sure to check out our Special Offers before you apply! There might be the perfect one for you.

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For more general advice, read this article about the different criteria to consider when selecting a credit card.

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What to expect after you apply

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After you submit your application, you will receive a notification from Collabria.

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• If approved, you will receive an approval email from Collabria.
• If additional information is needed, Collabria will contact you via email.
• If declined, you will receive a letter in the mail within 7-10 business days.

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If you are approved, you will receive your credit card via mail within 7-10 business days.

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You will then need to activate your card by calling Collabria at 1 (866) 498-3840. Once activated, you can set up your PIN by calling 1 (844) 788-2725.

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You can sign up for CardWise for online access to your credit card account, where you can set up recurring bill payments and e-statements as well as request balance transfers.

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What now?

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Start using your card! Click on some of the articles below for ideas and advice on using your credit card and building your credit score.

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1. The base value of one reward point is equal to one cent (a penny per point). The cash equivalent shown for illustration purposes only is based upon the redemption of these points as a statement credit. The valuation is for cash equivalent only; the value of redeeming for merchandise and travel may vary.

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2. Insurance coverage is underwritten by American Bankers Insurance Company of Florida (ABIC). ABIC, its subsidiaries, and affiliates carry on business in Canada under the trade name of Assurant®. ®Assurant is a registered trademark of Assurant, Inc. Details of insurance coverage, including definitions, benefits, limitations and exclusions, are in the Certificate of Insurance. The Certificate of Insurance is available online at collabriacreditcards.ca/insurance. Insurance coverage is subject to change.

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3. Insurance coverage is underwritten by Desjardins Financial Security Life Assurance Company. Details of insurance coverage, including number of days of coverage, definitions, benefits, limitations and exclusions are in the Travel Insurance Contract. Please visit collabriacreditcards.ca/insurance for complete details. Insurance coverage is subject to change.

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**Terms & conditions apply. Visit https://reward-headquarters.com/groupCollabriaNational/home for more details.

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®Mastercard and the circles design are registered trademarks of Mastercard International Incorporated. The Collabria Mastercard is issued by Collabria Financial Services Inc. pursuant to a license from Mastercard International Incorporated.

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Collabria Financial Services Inc. (“Collabria”) is an independent entity from your credit union with no ownership interest in the other. If you choose to obtain Collabria credit card services through a referral from your credit union, it will receive compensation from Collabria.

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