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Section 342(1) of the Criminal Code makes it illegal to possess a credit card that does not belong to you, or a card that you know is not rightfully in your possession, with the intent to use it unlawfully. This includes possessing stolen credit cards and counterfeit credit cards, as well as illegally using credit card data such as passwords and PINs.

The key elements of the offence of credit card possession are:

Possession: The accused person must have physical possession or control over the credit card.

Lack of Consent: The credit card must be in the possession of the accused without the consent of the cardholder or the person to whom the card was issued.

Intent to Use Unlawfully: The accused must possess the credit card with the intent to use it for fraudulent or unlawful purposes.

Penalties for this offence can vary depending on whether the prosecution proceeds by way of indictment or summary conviction. If prosecuted by indictment, the maximum penalty is imprisonment for up to ten years. If prosecuted summarily, the penalties may be less severe.