Credit cards on work permit?
Apr 20th 2012, 9:10 am
#16
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Re: Credit cards on work permit?
Welcome to the forum btw.
Apr 20th 2012, 12:38 pm
#17
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Joined: Nov 2011
Location: Somewhere between Vancouver & St Johns
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Re: Credit cards on work permit?
•if you want to work in Canada while your application is being processed, you must apply for a regular work permit
Apr 20th 2012, 12:39 pm
#18
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Joined: Oct 2007
Location: In a darkened room somewhere.............
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Re: Credit cards on work permit?
Possible, but seeing as it would normally be quicker to get PR then to get a job offer/LMO/TWP, it still seems an odd choice and I'm intrigued!
Apr 20th 2012, 5:34 pm
#19
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Joined: May 2009
Location: Langley, BC
Posts: 1,954
Re: Credit cards on work permit?
I gave up trying to get a Credit Card with Credit on my Work Permit a while ago.
Instead I applied for the BMO Travel Mastercard. It's a prepay card and only costs $6.95 every year (previously $9.95 every 3 years). There's no special charges outside of regular credit card fees and you can top it up using Bill Payments from your bank account. The only downside is you can't get the money off once it's on (without paying a $3 fee anyway).
Another alternative is a CIBC Visa Debit card, since to most online merchants they process just like regular Visa. Useful for trips to the US too.
Instead I applied for the BMO Travel Mastercard. It's a prepay card and only costs $6.95 every year (previously $9.95 every 3 years). There's no special charges outside of regular credit card fees and you can top it up using Bill Payments from your bank account. The only downside is you can't get the money off once it's on (without paying a $3 fee anyway).
Another alternative is a CIBC Visa Debit card, since to most online merchants they process just like regular Visa. Useful for trips to the US too.
Apr 21st 2012, 5:03 am
#20
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Joined: Sep 2010
Posts: 415
Re: Credit cards on work permit?
I got a Visa through Scotiabank after my first 3 months on an IEC visa.
Drawback: limit was $500 (required $500 to be kept 'on hold' in my savings account'. But got it extended to 5k 3 months later (deposit returned), after paying all balances monthly. Have now had another card with NBC approved to 3k.
Another few thousand and its almost worth me running up the bill and ditching the missus with it lol
Drawback: limit was $500 (required $500 to be kept 'on hold' in my savings account'. But got it extended to 5k 3 months later (deposit returned), after paying all balances monthly. Have now had another card with NBC approved to 3k.
Another few thousand and its almost worth me running up the bill and ditching the missus with it lol
Apr 22nd 2012, 2:23 am
#21
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Joined: May 2011
Location: Winnipeg, Manitoba, Canada
Posts: 228
Re: Credit cards on work permit?
hi, We got two credit cards from CIBC within a couple of months of arrival. Incidentally my OH only got a 1,000 limit and I got 2,000 and he is the one with the LMO and work permit. im on an open permit. We had no problem whatsoever. We also just went in to speak to them about our chances of getting a mortgage this year and they told us once we have minimum 5% down payment we qualify so very satisfied with our bank right now. Good luck.
