Re: Credit Score
 

Very helpful :)

Re: Credit Score
 

Thanks for all this information peeps it saves a lot to be in the know beforehand. Can we open a scotia bank account before we move to Canada, has anyone achieved this, we have another recce trip planned, but wanted to know if we could have a bank account open beforehand. thanks :)

Re: Credit Score
 

Sorry, but this is simply not true. There is no correlation between you credit rating and CRA records.

Re: Credit Score
 

Excellent link. Information from the horse's mouth. There are two reasons why a credit reference agency wants your SIN:

1) It makes life easier for them. If there are 14 John Smiths in your town they don't have to work out which one is you.

2) The first digit of your SIN indicates your status in Canada. Whether you are a non-resident, temporary resident, or permanent resident/citizen. It makes a difference to the amount and kind of credit that will be made available to you.

You are not required to give a phone company or a credit reference agency your SIN. They cannot demand to know it. However, if they choose not to do business with you if you don't give them your SIN then you will just have to make a choice.

Re: Credit Score
 

That's super handy to know about the Amex, as it turns out they have an offer on their cashback platinum card where there is no annual fee and I get money through top cashback for getting the card so a win win. So grabbed myself an Amex to hopefully make the move a little easier :)

Thanks so much for the tip joinerboy :)

Re: Credit Score
 

We needed to have an Amex card in the UK for a year before we were able to do a switch to an overseas card (US.) We have a card in the US for 2 years now so we should be OK to switch again.

Re: Credit Score
 

Thanks for the heads up and suppose depends on how long it takes me and my OH to get over. But as there was no fee and cash back I didn't think it could do any harm.

Re: Credit Score
 

I am a retired property manager & have seen this problem many times in various configurations. Fight the system if you want a hobby or just enjoy complaining, otherwise get yourself a credit history. Gas cards (Esso, Chevron etc) can usually be obtained with litle fuss. Store cards (HBC, Sears likewise). Best thing is to get a personal loan ($5 to 10 thousand) from the bank, or much preferably Credit Union, where you deposit your paycheques. Tell them why you are doing it & pay the loan off in a few months. Voila! You may have to leave money to cover the loan in the bank or some other conditions they come up with. Just do it.

If you are renting housing, try to rent from a property manager. Get him to submit a credit cheque & to follow-up with Equifax to say the property was rented to you. Bob's your uncle, you have a credit item. I did this for reasonable & solvent immigrant tenants as a matter of course. The lack of a SIN is pretty much a show stopper for this route tho'. They can't require you to provide the SIN # by law. However, it just much more difficult to establish identity & pull credit records without it. Funny thing that!

If you are buying a car, get a loan even if you don't need one. Pay off loan in orderly manner, preferably ahead of time.

Get hydro & natural gas bills in your name. You may have to give a security deposit. Just do it. You'll get it back.

There - A few tips that spring to mind.

Re: Credit Score
 

I don't think Scotiabank do it, but RBC do: http://www.rbc.com/canada/before-you...mmigrants.html

as do Bank of Montreal: http://www.bmo.com/home/personal/ban...-account/steps (though it seems complicated!)

Scotia are very good though, so it may be worth waiting til you get here.

:)

Re: Credit Score
 

Hi
When I landed I opened a Startright Account with Scotia Bank, the account gave you free banking for the first year think it allowed 12 transactions a month plus it offered a 'unsecured' Visa card with a $1000 limit ($1000 each on joint accounts) plus a few other benefits.
Think you'll need landed status to open this type of account. They may offer you a basic saving account before landing.
Try this link for more info
http://www.scotiabank.com/ca/en/0,,4285,00.html
Hope it helps

Re: Credit Score
 

Thanks for the info @joinerboy :)

Re: Credit Score
 

Yes we have achieved this.

In Jan this year (almost a year back) we walked into Scotiabank in Victoria. Showed them evidence of our FSW application. Not COPR or PR as we were nowhere near that stage at that point. Actually still not! I think, at the time, I had CIC Londons letter showing AOR dated August 2010.

The first person (all smiles) at the branch we dealt with, us told us that it couldn't be done and that we would need to be residents I immediately advised that their website said it can be done prior to us becoming residents and asked to speak with someone further up the food chain. The junior manager came out... listened, went away to check and came back... yes sir, we can do that :)

The account was opened in branch shortly after. Take passports, proof of current residential address... utility bills etc.

At this point in time the account is nothing other than a current (checking) account with a debit card. They agreed that as soon as we have PR, drop in and let them know, they will convert the account to the full startright package.

Re: Credit Score
 

Good to know, thanks for the info James :)