Creating a credit record - chicken-egg problem
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Posted on: 25-09-05 00:24:15
As far I know Scotiabank provides you a secure credit card and you can get around 2% return on yr deposit . They return this deposit after 06 months . I tried this 3 years back and it worked well in my case.
Cheers
Ashwani
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Growing Old Is Mandatory ..Growing UP is Optional
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Orginally posted by reachash
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Orginally posted by amitcr
I somehow didn' t have a problem regarding credit cards. When i opened the bank account with RBC i asked the customer care rep and she said come back when you get your SIN and we will issue a card to you. Right enough, I went back to the bank, spoke to a different customer care assoc and she took my SIN no and immediately issued me the credit card.
That was cool. Pl post the name of the the banker and the branch he/she works, so all newcomers can take advantage of that. Theres is nothing as good as getting an unsecured credit card and that too with just your SIN #. Did that person ask you anything abt your employment ?
I would really appreciate your reply.
I know someone who immigrated 2 years. He opened an a/c with CIBC even before he got his SIN, the banker suggested he apply for a VISA card at the same time - he did - and it got approved - Note this was even before he got the SIN.
reachash, this was transit 02632. I can get you the name of the banker is you'd like to know.
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SS
Reiki Grand Master
Quote:
Orginally posted by sudesingh
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Orginally posted by reachash
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Orginally posted by amitcr
I somehow didn' t have a problem regarding credit cards. When i opened the bank account with RBC i asked the customer care rep and she said come back when you get your SIN and we will issue a card to you. Right enough, I went back to the bank, spoke to a different customer care assoc and she took my SIN no and immediately issued me the credit card.
That was cool. Pl post the name of the the banker and the branch he/she works, so all newcomers can take advantage of that. Theres is nothing as good as getting an unsecured credit card and that too with just your SIN #. Did that person ask you anything abt your employment ?
I would really appreciate your reply.
I know someone who immigrated 2 years. He opened an a/c with CIBC even before he got his SIN, the banker suggested he apply for a VISA card at the same time - he did - and it got approved - Note this was even before he got the SIN.
reachash, this was transit 02632. I can get you the name of the banker is you'd like to know.
I don't need the info, I am just asking to post it on this thread so others can use the same.
And in my post I didn't mention that you can't apply for cr card w/out SIN. You can apply for credit card even w/out job, but it's somehow difficult to believe that one can get an unsecured crdit card w/out job, that too at CIBC, very unlikely. I don't know how they used to issue visa before 2 years, but atleast not now.
Please also cfm if that person was working or unemployed. And coz I am asking you these Qs, pl don't feel that I am challanging anybody....we are just trying to give an image of normal procedure for credit card. If there are any odd incidences of someone getting an unsec cr card....w/out job....w/out SIN.....just landed....it's not happening for everybody.....I hope you understand my point of view...
take care
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Let's help each other to grow & prosper in Canada
*Update*
TD guy refused to even apply for me - said my work permit is not long enough :-(
Anyway I went to CIBC and talked to a very helpful guy there. I've started an account in CIBC now. He says if I have a CIBC account for a few months and then I apply through CIBC, I may get a card.
Now I've got a TD as well as a CIBC account and I've asked my Finance Manager to put my salary into the CIBC account.
I may even close my TD account after a few months - TD wasn't very helpful and they just brushed me away each time without trying to even listen to me. I found CIBC service much better - at least they seemed to understand.
From some of the other posts, it looks like other people got luckier than I did. I seem to have struck a patch of bad luck here - hopefully things will change soon.
Worst part is I cannot extend my W1 till 2 months prior to expiry - so I can't apply for the extension now. But the CIBC guy said the W1 expiry date shouldn't be a problem - uhm, different banks, different people, different pieces of info.
I got secured ($1000) credit card for me and my wife without having a job.
We arrived here as work permit holders over 5 weeks ago and we have a account with TD. Though I have a job, I still could only get a secured credit card as my SIN begins with a 9, which is classed as a temporary SIN number.
However, I managed to get a pre-approval for a mortgage from the bank. My suggestion is that build up a good relationship with your bank manager/ or one of the advisors as they can really help you out in the long run.
I also have an AMEX card which I got in UK prior to moving here. With AMEX you can transfer your credit history from one country to the other. I got a $10k limit on my card within 2 weeks of my arrival which was definitely helpful.
Regards,
Scrabble
Hey Scrabble
With just 5 weeks how did you manage a $310/month auto insurance?
I've been here 3.5 months now and I am paying 480/month :-(
