Credit Card Usage

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Snowfall
Member since: Apr 05

Posts: 41
Location: Toronto.
Post ID: #PID

Posted on: 24-09-05 22:51:30

Hello everybody:

I am a new immigrant landed in Toronto from India. I have got my secured credit
card from a bank with 1000$ credit limit. My intention is to build a good credit history from now on. I have 2 queries.

1.Now can I use the VISA card for all of my bill payments like grocery, walmart shopping, and other all routine expenses? Or should I use the card for limited number of bill payments in a month? Is there any limitation on number of usage?

2.The primary card is in the name of my wife and myself as an add-on card, it 's a joint card a/c.
So is the credit history for only primary card holder or for both of us?

Looking for tips from everybody.

Snowfall.

sudesingh
Member since: Jul 04

Posts: 2085
Location: Toronto
Post ID: #PID

Posted on: 25-09-05 00:32:55

Quote:
Orginally posted by Snowfall

Hello everybody:

I am a new immigrant landed in Toronto from India. I have got my secured credit
card from a bank with 1000$ credit limit. My intention is to build a good credit history from now on. I have 2 queries.

1.Now can I use the VISA card for all of my bill payments like grocery, walmart shopping, and other all routine expenses? Or should I use the card for limited number of bill payments in a month? Is there any limitation on number of usage?

2.The primary card is in the name of my wife and myself as an add-on card, it 's a joint card a/c.
So is the credit history for only primary card holder or for both of us?

Looking for tips from everybody.

Snowfall.

Use it in any possible way, wherever they accept VISA cards. There is no limit on the number of transactions. However there is a charge if you exceed your credit limit (funny, they allow you to exceed the limit)

The credit history is for the primary cardholder only. So ineffect, you'll make your wife's history.... I mean credit history....

-----------------------------------------------------------------
SS
Reiki Grand Master

despremi
Member since: Apr 05

Posts: 130
Location: Toronto
Post ID: #PID

Posted on: 25-09-05 07:56:19

Quote:
Orginally posted by sudesingh

......... So ineffect, you'll make your wife's history.... I mean credit history....

candyfloss
Member since: Sep 05

Posts: 18
Location:
Post ID: #PID

Posted on: 18-10-05 13:37:55

I am landing on 24th October in TO, could you advise me which bank offers credit cards for newcomers?

Fonzie
Member since: Aug 05

Posts: 65
Location:
Post ID: #PID

Posted on: 18-10-05 13:40:32

I recommend CIBC (their service is much better than TD's in my experience).

Also CIBC has secured cards starting at 500 - TD's minimum is 1000.

Quote:
Orginally posted by candyfloss

I am landing on 24th October in TO, could you advise me which bank offers credit cards for newcomers?

sunanda
Member since: Nov 03

Posts: 40
Location: Windsor,ON
Post ID: #PID

Posted on: 30-11-05 22:56:28

Where do you apply for secured credit card? I have TD checking account but they said they do not have such secured credit card !! CIBC rejected my bank account application as I do not have much Canadian credit history.
Can anyone let me know where to apply for this secured credit cards ?

peacock1
Member since: Jul 04

Posts: 1040
Location: Woodbridge
Post ID: #PID

Posted on: 01-12-05 16:55:13

HI,
TD bank does have secured TD Visa card, just ask your bank to double check and do it for you, sometimes the ignorance of the person attending your querry has misunderstood your requirement and has therby given you incomplete or wrong info.
I too had my first card in canada from TD secured GM visa
I had seperate credit card for me & my wife, you built independent credit of each individual that is more important.
Within 6 months , try & obtain free unsecured credit card from PC financial, their chequing account is free too.

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mor

Whenever you experience joy, peace, security, equanimity or purity, it is only because you are aligned with ALMIGHTY.

Contributors: Canadian Dream(2) Mercury(2) rajcanada(2) sudesingh(1) despremi(1) Janmeja(1) candyfloss(1) Pramod Chopra(1) Fonzie(1) sajiddc(1) sunanda(1) peacock1(1) Snowfall(1) dop(1)

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