Credit offered

Financing by Fairstone Financial Inc.

Questions about your financing account with Fairstone, partner of EconoMax? We’ve included answers to commonly asked questions below.

My Fairstone financing account at EconoMax

How do I access my Fairstone account details such as balance and payment due date?

Register or log in to get updates regarding your Fairstone financing account such as monthly electronic statements, account balance, payment due date, minimum payment, and recent transaction history.

What is my Fairstone account number? Where can I find it?

Your account number can be found in the SMS text message you received from Fairstone when you were approved for financing, on your monthly statement, or by logging into online account management.

Will I get a monthly statement?

Yes, monthly statements will be provided for active accounts.

When a monthly electronic statement is available, an email notification will be sent to the email address on file. To access your electronic statement, register or log in to online account management.

How can I get assistance with understanding my monthly statement?

Click here for an outline of the information contained in your monthly statement.

I’m currently receiving my monthly statement in the mail. Can I request monthly electronic statements instead of printed statements?

Yes. To receive monthly electronic statements, you need to register for an online accoun. Once you’ve created an online account, you’ll be automatically switched to receive monthly electronic statements.

I’m currently receiving my monthly statement in the mail. Can I request monthly electronic statements instead of printed statements?

Yes. To change your monthly statement preference, call Fairstone at 844-807-1301.

Will I receive a plastic card in the mail from Fairstone?

No. Fairstone offers entirely digital financing for EconoMax meaning your key account information, such as account number, can be accessed by logging into online account management.

Will I pay an annual fee?

An annual fee* of $35 is applicable if you enroll in an equal payment financing plan with no interest for a term longer than 12 months. This fee is charged at the opening of the account and annually on the anniversary date of the account opening if the balance is higher than $450. 

*Fairstone may change the fee or add other fees upon written notice and as permitted by law.

If I’ve enrolled in the equal payment financing plan with no interest for a term longer than 12 months, when will I be required to pay the annual fee?

If you’ve enrolled in the equal payment financing plan with no interest for a term longer than 12 months, the $35 annual fee will appear on your first monthly statement. 

The minimum monthly payment for the annual fee is $10. If minimum payments are made on the annual fee in the four months after your account is opened, you will accrue no interest.

How do I make payments?

You can make payments in any of the following ways:

  1. Telephone or online banking (enter ‘Fairstone - Credit Cards’ as the payee)
  2. At your financial institution
  3. At a local Fairstone branch
  4. By mailing a cheque payable to Fairstone including the account number and the payment amount on the return portion of your mailed monthly statement addressed to: 

Fairstone Financial Inc.

Attn: Payment Processing

630 René-Levesque Blvd. W. Suite 1400 Montréal, QC H3B 4Z9

Please note, EconoMax stores will not accept payments on Fairstone’s behalf.

When are my payments due?

Register or log in to online account management to see your payment due date. Plan expiration dates are listed in your monthly statement.

If you are not registered for online account management, your payment due date and plan expiration date are listed in your mailed monthly statement.

Are there any penalties for paying off my account balance?

No, there are no penalties for paying off your account balance, if the minimum payment is made when due and/or the account balance is paid in full by the expiration date of the promotional period. If you do not pay off your account balance within the terms of your promotional plan, you may be subject to accrued interest charges.

Will my account be closed after I’ve paid off my balance?

No. Your account will not be closed if you pay off your balance meaning you can use your available credit to finance additional purchases at EconoMax.

How do I close my account?

To close your account, contact Fairstone at 844-807-1301.

How to finance a purchase

How do I finance a purchase at EconoMax?

  1. Apply for financing by completing the online financing application.
  2. Once you’ve been approved for Fairstone financing at EconoMax, you can finance your purchase either in-store or online by following these easy steps:

To finance a purchase in-store:

  1. Log in to Fairstone online account management
  2. Select “Display Barcode”
  3. To finance your purchase, show the barcode to a EconoMax advisor

To finance an online purchase:

  1. Shop online at EconoMax, to find the items you wish to finance
  2. Add your items to the shopping cart
  3. At checkout, select ‘Fairstone Financing’ as payment option
  4. When prompted, enter your Fairstone financing account information

Financing plans

What financing plans are offered at EconoMax?

In partnership with Fairstone, EconoMax offers several financing plan options. Visit the EconoMax website or store to inquire about which of the following financing plans are available:

  • Free Financing with 24 or 36-month terms, plus others. 
  • Same as cash (with payments) with 6 or 12 months.
  • Months no interest, no payment.

To confirm which financing plan you are enrolled in, see your monthly statement.


1. Equal Monthly Payments With Interest Financing (Reduced rate)

On approved credit. Financing is provided by Fairstone Financial Inc. and is subject to all the terms and conditions in your Retail Credit Agreement and Disclosure Statement (collectively the “Account Agreement”). Under this plan, a reduced rate credit charge of 13.99% will be charged on the purchase. The amount of the purchase, plus credit charges as calculated, is divided by the term to arrive at equal monthly payments which will be due each billing cycle on the due date, and constitute the minimum payment due each month. Interest is pre-calculated and included in each monthly payment. If the minimum payment is not made when due or if a balance remains after the promotional period expires, credit charges will be assessed at the standard annual credit rate of 31.99% as provided for as shown in your Retail Credit Agreement and Disclosure Statement. The grace period to make the minimum payment or pay the new balance is 21 days. The minimum payment due includes (i) the minimum payment under the applicable credit plan and, if applicable (ii) past due amounts, minimum payments on all other charges, minimum payments on credit insurance premiums and any credit limit overage amounts. Each Account Statement covers a billing period of approximately 30 days. No adhesion fee. See the Account Agreement for more information.

 Purchase

 Interest rate

 Monthly payments

  12 months   24 months
 $1000   13,99%  $89,78

 $48,01

 $2000  13,99%

 $179,56

 $96,02

 $3000

 13,99%

 $269,35

 $144,02


EXAMPLE OF CREDIT CHARGES

Purchase amount

Annual interest rate

Cost for 30-day
billing cycle

Annual cost

$100   31.99% $2.63 

 $31.99

 $500

31.99%

$13.15

$159.95

 $1000

31.99%

$26.29

$319.90 


2. Equal monthly payments without interest financing (Free Financing)

On approved credit. An annual adhesion fee of $35, as set out in your Account Agreement, will be charged to your Account for all plan with a 12-month term or more. Financing is provided by Fairstone Financial Inc. and is subject to all the terms and conditions in your Retail Credit Agreement and Disclosure Statement and the promotional plan disclosure statement (collectively the “Account Agreement”). Under this plan, credit charges will not accrue on the purchase during the promotional period if the required minimum payment is made each billing cycle during the promotional period when due. The purchase price is divided by the number of months in the promotional period to determine equal monthly payments to be made during the promotional period. If the minimum payment is not made when due or if a balance remains after the promotional period expires, credit charges will be assessed at the standard annual interest rate of 31.99%, as set out in your Account Agreement. The terms of this credit promotional plan will terminate if you default under your Account Agreement. On termination or expiry of the promotional plan (or for purchases that are not part of the credit promotional plan), the annual standard credit rate of 31.99%, as set out in your Account Agreement, and the terms of the regular credit plan will apply to all outstanding balances owing. The grace period to make the minimum payment or pay the new balance is 21 days. The minimum payment due includes (i) the minimum payment under the applicable credit plan and, if applicable (ii) past due amounts, minimum payments on all other charges, minimum payments on credit insurance premiums and any credit limit overage amounts. Each Account Statement covers a billing period of approximately 30 days. See the Account Agreement for more information.

EXAMPLE OF CREDIT CHARGES

Purchase amount

Annual interest rate

Cost for 30-day
billing cycle

Annual cost

$100   31.99% $2.63 

 $31.99

 $500

31.99%

$13.15

$159.95

 $1000

31.99%

$26.29

$319.90 


3. Payable in 3 months (No interest – No payment)

On approved credit. Financing is provided by Fairstone Financial Inc. and is subject to all the terms and conditions in your Retail Credit Agreement and Disclosure Statement and the promotional plan disclosure statement (collectively the “Account Agreement”). Under this plan, no credit charges will accrue, and no minimum payment will be due on the purchase during the promotional plan period. After the end of the promotional period, a minimum payment of 5% of the balance, or $10 (whichever amount is the highest), will be due each billing cycle on the due date. If the minimum payment is not made when due or if a balance remains after the promotional period expires, credit charges will be accounted for at the standard annual interest rate of 31.99%, as set out in your Account Agreement. The terms of this promotional plan will terminate if you default under your Account Agreement. On termination or expiry of the credit promotional plan (or for purchases that are not part of the credit promotional plan), the standard credit rate of 31.99% as set out in your Account Agreement and the terms of the Regular Credit Plan will apply to all outstanding balances owing. The grace period to make the minimum payment or pay the new balance is 21 days. The minimum payment due includes (i) the minimum payment under the applicable credit plan and, if applicable (ii) past due amounts, minimum payments on all other charges, minimum payments on credit insurance premiums and any credit limit overage amounts. Each Account Statement covers a billing period of approximately 30 days. No adhesion fee. See the Account Agreement for more information.

EXAMPLE OF CREDIT CHARGES

Purchase amount

Annual interest rate

Cost for 30-day
billing cycle

Annual cost

$100   31.99% $2.63 

 $31.99

 $500

31.99%

$13.15

$159.95

 $1000

31.99%

$26.29

$319.90 

Need further assistance?

Click here to register or log in to get updates regarding your Fairstone financing account such as monthly electronic statements, account balance, payment due date, minimum payment, and recent transaction history.

To speak with a Fairstone agent, call 844-807-1301, Monday-Friday from 8 a.m.- 8 p.m. EST, or use Interactive Voice Response (IVR) 24 hours a day, 7 days a week.