MrP77

Is it possible to get credit card on work permit???

R I C H

Yes, though depending on the bank possibly not immediately after you arrive, nor with much of a credit limit. You may have to put a security deposit down against it, ie $5,000 deposit gains you $5,000 credit limit.

It'll depend on the bank's attitude to risk, and your own standing with the bank. I moved here and took out a commercial mortgage, was offered a credit line and took out leases on equipment, but couldn't get a credit card for the first 18 months of my TWP. Sometimes banking isn't very logical.

MrP77

Thanks for that, we have only been here 2 months and haven't tried for one yet.....will apply and see.

Mynsey

hi Mr77,

My husband and me have been here for nearly 3years on TWP's (we just got PR on Sunday) and we got an American Express card pretty much as soon as we got here, without a deposit. Provided you had an AMEX in UK you can switch and get a Canadian one without that nonsense of paying the bank the credit limit!

The only problem is they don't take AMEX everywhere, but it's certainly a lot better than rubbish interac!

sharkus

Have a look at Capital One, they do a few security deposit credit cards, with low security deposits. I wanted to get some credit history and thus wanted a credit card. TD was happy to give me a secure CC, provided I put down $1000 as a deposit, which of course everyone has just laying around to be tied up as a security deposit!
Capital one had a $100 or $200 security deposit CC, which I felt was much more reasonable.
I basically used it instead of my debit card, and paid it off in full every month, and it seemed to get my credit rating sorted out nicely.

iaink

I gave up trying to be honest. Not much point in tying up $5000 to have a $5000 limit that I could see. After PR came through they were falling over themselves to give me credit.

I did manage to get store credit cards though, although the fact that Citi financial still bug me with mailed offers every 2 months 13 years later makes me wonder if it was worth it.

Most of the store cards like Sears, Zellers and Cdn Tire that used to be independent now seem to be tied to Mastercard anyway, so are probably off limits to those with 9xx Sin numbers nowadays

scrubbedexpat133

I am with Scotiabank and I had to wait 6 months before they would give me an unsecured card.

Could have taken the secured one right away but did not see the point.

They wanted to see steady pay cheques and my spending habits first. They also advised me to get a cell phone / TV internet home phone etc as this will help your credit.

Former Lancastrian

Do you currently have one? My credit cards seem to work fine in most countries. If you already have one speak to your bank to see if they can help you or suggest options.
I will refrain from stating that if you lay the work permit on a flat surface you can actually fit several credit cards on it not so much though when stapled in your passport.

Miss Clinique

We got one with TD as soon as we opened the account with them, which was on a reccie trip a month before we came over for good, they gave us $1000 without security to start with, I used it for everything, then when I got home from shopping I would go on line and pay it off. I did that for a year and then they increased it to 5K. Now we have PR its at a silly limit that no sane person would consider using.

Plus you always have your UK ones to fall back on.

R I C H

I regularly bump up against my credit limit, then pay it off. Free credit costs nothing and brings the perks of free flights.

Former Lancastrian

Well the actual seat ticket might be free but those surcharge taxes certainly arent Unless your credit card includes these charges.
Have you seen the charges/taxes on a return flight to the UK well over $600 now and not getting any cheaper.
I agree with the perks but not all cards are equal.
We had a $60 dollar credit on our Sears card. They sent us a bill saying that they had removed $25 from this credit as a service charge as we hadnt used the card in over a year and to maintain the credit we should use our card to avoid further charges.
WTF is all that about

phat-dave

I got a $1000 unsecured card upon arrival from TD. It was a pain in the arse because $1k gets you nothing lol - i tried to up the limit but they said no because i gave them a SIN with a 9... moral of the story.. don't give them your SIN

Miss Clinique

No problem if you are paying it off, I always pay ours, and like you said free credit and air miles I get 2 trips a year home on ours. My concern was with a credit limit of over 20K if you dont pay it off, you are can get into trouble quiet quickly.

lmartin999

Yes its $261 using Aeroplan points.

Mist05

My husband is on a TWP and depending on your salary we found RBC very good and gave him a card without a security deposit, funny he got a credit card before I did and I'm the Canadian, and he's the Brit!