lee1001

My situation.

I recently moved here with my Canadian Girlfriend and have started an inland sponsorship application.

I have read many posts on here about people struggling to get credit because effectively unless you have thousands of dollars to put down you have to start building credit all over again.

Well i am one of those people and i would like to know the easiest methods of obtaining a credit card so i can start to build my credit score.

I managed to open a joint account with my girlfriend with Scotia bank. Im yet to talk to them regarding a credit card though.

The best solution on here i have seen seems to be to applying for a card 'on recourse' where you put money in a restricted account and that becomes your credit limit on a credit card.

Is that the best way or will the fact i haven't got PR yet mean the chances getting ANY credit card is zero?

Thanx in advance.

windward

From what I've seen here the only ways people get credit cards quickly over there is when they've had an Amex in the UK - they'll happily provide you with a Canadian one it seems - or, as you say, put a wedge down as security.

iaink

Explain what you want to do to your scotia branch. You might need to leave money in a GIC or whatever as a deposit. Tell them you will close the account and look elsewhere if they cant help you with a simple credit card.

Other than that, try for store cards. One of the first I got was from Leons, they didnt seem too fussed about my temp status. Zellers were also fairly ammeanable to a store card too. That help build credit rating. The first "proper " card I got was a canadian tire mastercard if that helps.

I think the fact that I was leasing a vehicle (with a whopping security deposit) helped with my rating too, to get the ball rolling with store cars, and the motor trade is well known for generating credit for "bad risks", though god knows what rate you would get.

Good Luck.

taradem

Hi,
We moved here 6 weeks ago and openned up a bank account with TD Canada Trust. They gave us a 'secured' credit card straight away. Basically our limit is whatever we give them as security so not really credit at all! Anyway, we just put $500 down and use it for fuel. They advised that as long as we keep using it and paying it off every month we should be able to get the security taken off in about 1 year although it could take up to 2!!

As for other credit rating schemes I have tried to get store cards at Sears and The Bay with no luck. Rogers have given me a mobile which I pay monthly with no issue at all and TD Canada Trust have given us a great rate on a mortgage.

I wish you luck!
Tara

lee1001

Will the fact i haven't got PR yet be a problem?

I read somewhere in this forum that VISA and Mastercard policy won't allow me to have a credit card in my current situation.

iaink

Only one way to find out.

I got lots of credit before my PR, but if I recall not a real card (MC or Visa). But I never went for a secured card, and I'm pretty sure others have gone that path with sucess.

If you have a UK amex, that can be transfered over here.

Stuarty

Hi Iaink, I was going to do just that, is it just a matter of phoning Amex when we get to Alberta?

dbd33

I found that they wouldn't give me visa or mastercard but would give me a green Amex so I took the Amex. Now that I have a platinum Amex, visa and mc bombard me with flyers but they can whistle. I'd give Amex a try regardless of what cards you had or didn't have in the UK.

sbays

Listen up, We moved from UK to Canada 7 months ago, but before we moved I got an AMEX card in the UK with my UK credit rating. Then wen we got to Canada I phoned AMEX in Canada and Applyied for a Canadian AMEX card on the strength of my UK card because they are the same company. This worked a treat and now we have credit with $5000.00 limit, which has already started a credit file and reports to Canadian agencies.....

Amex were very pleased to do this for me,,,,,,, its working as we get loads of junk mail offering another credit card,

Oh and lots of air miles .........

Stuarty

Most Excellent..
Thanks guys

iaink

Oh, that means nothing Im afraid. It used to piss me off no end. I would get lots of junk saying I was preauthorised for this or that card. I would get my hopes up, and then off course get rejected at the first hurdle as I was on a work permit back then and the 9xx SIN number was an automatic red flag.

TD were the worst. Had me jumping through hoops sending pay stubs etc etc then a month later, "sorry, cant do it as you are on a work permit". Never mind that that first thing I told the manager. "Oh , thats OK" she said That was the one and only time I sent a pissed off letter to customer service. Did I hear anything back, anything at all?. Course not. They have never had any of my business since then.

Steve_P

I used to get those too, then I started sending them back stating that if I was preauthorised just send me the card. Why did I have fill in the form they sent me?

Never heard back and pretty soon they stopped coming.

taradem

We only have my husbands work permit and got a Visa from TD Canada Trust. We won't get out PR for a long time yet ....

sbays

We DO-NOT have PR just Temp as I am a student, but that never stopped us. Its gonna be 4 years before PR is through......

celine_uk

students are different, friends of mine here as a student for 6 years before pr and got a mastercard from mbna within 2 weeks of moving here, if ur a student they'll throw money at you doesnt even matter if u have a sin starting with a 9