EQ Bank Prepaid is a digital credit card alternative offering 0.5% cash back, international Mastercard acceptance and no added foreign exchange markup.
EQ Bank Prepaid: best credit card alternative for travel
For travellers comparing credit cards, EQ Bank Prepaid stands out because EQ Bank adds no foreign exchange fee or markup to foreign currency transactions.
Moreover, this digital credit card alternative earns 0.5% cash back while offering international Mastercard acceptance and mobile wallet compatibility for contactless purchases.
Should I get a credit card alternative from EQ Bank?
EQ Bank offers a completely digital banking experience, so this credit card alternative may suit Canadians who prefer managing their money without traditional branch banking.
Unlike credit cards to build credit, EQ Bank Prepaid does not affect your credit score, since it uses loaded funds instead of borrowed money.
How to get a card from EQ Bank?
To get the EQ Bank Prepaid, you need to:
- Open an EQ Bank Personal Account.
- Fund your Personal Account.
- Order the free EQ Bank Card through EQ Bank.
- Add money to the card before spending.
Apply for the card
- Open an EQ Bank Personal Account online.
- Add funds to your Personal Account.
- Order your EQ Bank Prepaid card.
- Load money onto the card.
- Start spending and earning eligible cash back.
FAQ
How does EQ Bank Prepaid interest work?
Unlike a traditional credit card, EQ Bank Prepaid does not charge credit card interest because purchases use money you have already loaded onto it.
How do I increase my EQ Bank Prepaid limit?
EQ Bank Prepaid is not a conventional credit card with a revolving credit limit, so standard credit limit increase requests do not apply.
How do I pay off EQ Bank Prepaid?
Since this digital credit card alternative is prepaid, there is no borrowed credit card balance to repay after making your purchases.
How do I cancel a card from EQ Bank?
If you want to cancel this credit card alternative, check EQ Bank’s current card agreement or contact its Customer Care for the applicable cancellation process.