Credit Card - No Credit History
#1
Banned
Thread Starter
Joined: Oct 2005
Location: Calgary, South by Java Head
Posts: 504
Credit Card - No Credit History
am sure this has been asked before - but no luck in doing a search
been rejected by Presidents Choice & another main player - Capital One i think
our Bank ; ScotiaBank want to me to do one of those credit arrangements where you give them $1200 for a year for the privilege of a $1000 credit limit
(i bank; personal/business & mortgage with them but still required to jump thru hoops)
any ideas where a PR with 3mths Cdn history can get such a beast without the big cash outlay
am using UK credit card in meantime, but am keen to get on the Credit ladder here
i got a good Experian Credit report from UK for the Imiigrant mortgage - any suggestions on who would use this, over and above the generic application forms
Tx
BQ
been rejected by Presidents Choice & another main player - Capital One i think
our Bank ; ScotiaBank want to me to do one of those credit arrangements where you give them $1200 for a year for the privilege of a $1000 credit limit
(i bank; personal/business & mortgage with them but still required to jump thru hoops)
any ideas where a PR with 3mths Cdn history can get such a beast without the big cash outlay
am using UK credit card in meantime, but am keen to get on the Credit ladder here
i got a good Experian Credit report from UK for the Imiigrant mortgage - any suggestions on who would use this, over and above the generic application forms
Tx
BQ
#2
Account Closed
Joined: Jul 2005
Posts: 15,019
Re: Credit Card - No Credit History
Originally Posted by Beaverquest
am sure this has been asked before - but no luck in doing a search
been rejected by Presidents Choice & another main player - Capital One i think
our Bank ; ScotiaBank want to me to do one of those credit arrangements where you give them $1200 for a year for the privilege of a $1000 credit limit
(i bank; personal/business & mortgage with them but still required to jump thru hoops)
any ideas where a PR with 3mths Cdn history can get such a beast without the big cash outlay
am using UK credit card in meantime, but am keen to get on the Credit ladder here
i got a good Experian Credit report from UK for the Imiigrant mortgage - any suggestions on who would use this, over and above the generic application forms
Tx
BQ
been rejected by Presidents Choice & another main player - Capital One i think
our Bank ; ScotiaBank want to me to do one of those credit arrangements where you give them $1200 for a year for the privilege of a $1000 credit limit
(i bank; personal/business & mortgage with them but still required to jump thru hoops)
any ideas where a PR with 3mths Cdn history can get such a beast without the big cash outlay
am using UK credit card in meantime, but am keen to get on the Credit ladder here
i got a good Experian Credit report from UK for the Imiigrant mortgage - any suggestions on who would use this, over and above the generic application forms
Tx
BQ
#3
Re: Credit Card - No Credit History
Originally Posted by Beaverquest
our Bank ; ScotiaBank want to me to do one of those credit arrangements where you give them $1200 for a year for the privilege of a $1000 credit limit
(i bank; personal/business & mortgage with them but still required to jump thru hoops)
(i bank; personal/business & mortgage with them but still required to jump thru hoops)
Failing that, perhaps you have to resign yourself to the fact that folk are just so much easier to get along with on the East Coast!
#4
Re: Credit Card - No Credit History
Originally Posted by Beaverquest
i got a good Experian Credit report from UK for the Imiigrant mortgage - any suggestions on who would use this, over and above the generic application forms
Rich.
#5
Banned
Thread Starter
Joined: Oct 2005
Location: Calgary, South by Java Head
Posts: 504
Re: Credit Card - No Credit History
Originally Posted by Atlantic Xpat
That's interesting. I bank with Scotiabank and after some rumination and consultation with the greater powers they gave me a visa with a $3k limit. At that time I had a job (and a letter from my employer/wage slips etc) and proof of net worth (at that time equity in a house in the UK). Seems strange that if you have mortgage with them that they won't oblige. Perhaps you could consider their 'Total Equity Plan' where credit card/line of credit & mortgage are all secured on the house.
Failing that, perhaps you have to resign yourself to the fact that folk are just so much easier to get along with on the East Coast!
Failing that, perhaps you have to resign yourself to the fact that folk are just so much easier to get along with on the East Coast!
thanks for the reply
jeez this feels a bit like kicking the footy around between the trenches
must be that time of year
#6
Re: Credit Card - No Credit History
Originally Posted by Beaverquest
thanks for the reply
jeez this feels a bit like kicking the footy around between the trenches
must be that time of year
jeez this feels a bit like kicking the footy around between the trenches
must be that time of year
Well I could have suggested you try for a Home Depot store card...........
#7
Forum Regular
Joined: Dec 2005
Posts: 288
Re: Credit Card - No Credit History
We had to put 5000 dollars down in a savings account just to get a 2500 limit, but it seems to be the only option if you're new. It's a bit humiliating but there aren't many other options.
#8
Re: Credit Card - No Credit History
We had a mortgage from day 1 arriving here, but didn't apply for any other credit until after about 10mths (kept using our UK cards).
Applied for an RBC c/card (who we bank with) and got a $10k limit, also had no problem getting 0% finance on a car. We just assumed that making a chunk of mortgage payments for a while and building up some credit history would make applying for a card or loan straighforward at some point in the future, and so it seemed.
Applied for an RBC c/card (who we bank with) and got a $10k limit, also had no problem getting 0% finance on a car. We just assumed that making a chunk of mortgage payments for a while and building up some credit history would make applying for a card or loan straighforward at some point in the future, and so it seemed.
#9
Re: Credit Card - No Credit History
A friend over here mentioned getting a card from Crappy Tire but I believe their interest rates are frightening? Not a problem if you pay it off at the end of each month though.
However, I'm sure someone on this board tried to do this and couldn't get the card?
Like everyone else, we had to put down security to get a card: A $1000 each for a $1000 limit. Must see when we'll get that back, probably after a year. It does go into a high interest account however so we get something back.
Funnily enough, the Hydro didn't ask for a deposit but the gas utility did (or was it the other way round?). Oh, and Rogers did too.
The credit wasteland of a new immigrant I'm afraid: welcome to Canada.
However, I'm sure someone on this board tried to do this and couldn't get the card?
Like everyone else, we had to put down security to get a card: A $1000 each for a $1000 limit. Must see when we'll get that back, probably after a year. It does go into a high interest account however so we get something back.
Funnily enough, the Hydro didn't ask for a deposit but the gas utility did (or was it the other way round?). Oh, and Rogers did too.
The credit wasteland of a new immigrant I'm afraid: welcome to Canada.
#10
Re: Credit Card - No Credit History
I started with a car lease with a large security deposit, and store cards (Leons etc), then HBC (Zellers), then Canadian Tire (before it was a mastercard), and built up history that way
I dont know that there is a shortcut other than the secured card and the Amex card transfer. I know people here have managed it though, but I suspect its based on the attitude of the manager more than anything.
Threaten to take you business elsewhere if they dont see reason...might not help but you will probably feel better if you do. I know I felt liberated when I told TD where they could stick it. Other than that keep trying different places and see who values your future custom enough to cut you a deal.
If you are on a work permit rather than PR its even harder to get credit.
I dont know that there is a shortcut other than the secured card and the Amex card transfer. I know people here have managed it though, but I suspect its based on the attitude of the manager more than anything.
Threaten to take you business elsewhere if they dont see reason...might not help but you will probably feel better if you do. I know I felt liberated when I told TD where they could stick it. Other than that keep trying different places and see who values your future custom enough to cut you a deal.
If you are on a work permit rather than PR its even harder to get credit.
#11
Re: Credit Card - No Credit History
Originally Posted by Madmac
A friend over here mentioned getting a card from Crappy Tire but I believe their interest rates are frightening? Not a problem if you pay it off at the end of each month though.
However, I'm sure someone on this board tried to do this and couldn't get the card?
However, I'm sure someone on this board tried to do this and couldn't get the card?
#12
Re: Credit Card - No Credit History
Originally Posted by iaink
....I suspect its based on the attitude of the manager more than anything.....If you are on a work permit rather than PR its even harder to get credit.
#13
Re: Credit Card - No Credit History
Originally Posted by iaink
I did that, but that was when it was still just a "store card", rather than a mastercard as it ihas been for a few years now. I suspect its harder for a newcomer to do now.
I'm not aware of any shortcuts to this dilemma: it's one that every immigrant (apart from the super-rich and totally illegal - is their a difference? ) comes across.
Now that we're working and bringing in wages and payslips I assume that the deluge of credit crap will start and we'll be beating them back with a stick. I may ask them to put down a deposit to secure my patronage and business.
#14
Forum Regular
Joined: Jan 2006
Location: NW Calgary,Alberta
Posts: 106
Re: Credit Card - No Credit History
Hi there,
We have been here 6 months and Capital One have just given me a credit card - $75 secured for a $500 limit. Not much I know but it helps build up your rating.
I applied online under secured credit cards on their website. I think after a year they will let you convert/increase limits.
We have been here 6 months and Capital One have just given me a credit card - $75 secured for a $500 limit. Not much I know but it helps build up your rating.
I applied online under secured credit cards on their website. I think after a year they will let you convert/increase limits.
Originally Posted by Beaverquest
am sure this has been asked before - but no luck in doing a search
been rejected by Presidents Choice & another main player - Capital One i think
our Bank ; ScotiaBank want to me to do one of those credit arrangements where you give them $1200 for a year for the privilege of a $1000 credit limit
(i bank; personal/business & mortgage with them but still required to jump thru hoops)
any ideas where a PR with 3mths Cdn history can get such a beast without the big cash outlay
am using UK credit card in meantime, but am keen to get on the Credit ladder here
i got a good Experian Credit report from UK for the Imiigrant mortgage - any suggestions on who would use this, over and above the generic application forms
Tx
BQ
been rejected by Presidents Choice & another main player - Capital One i think
our Bank ; ScotiaBank want to me to do one of those credit arrangements where you give them $1200 for a year for the privilege of a $1000 credit limit
(i bank; personal/business & mortgage with them but still required to jump thru hoops)
any ideas where a PR with 3mths Cdn history can get such a beast without the big cash outlay
am using UK credit card in meantime, but am keen to get on the Credit ladder here
i got a good Experian Credit report from UK for the Imiigrant mortgage - any suggestions on who would use this, over and above the generic application forms
Tx
BQ
#15
Re: Credit Card - No Credit History
Originally Posted by Madmac
Like everyone else, we had to put down security to get a card: A $1000 each for a $1000 limit. Must see when we'll get that back, probably after a year. It does go into a high interest account however so we get something back.
Rich.