Establishing a credit history in canada !!!
Jul 30th 2004, 4:14 pm
#16
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Joined: Sep 2003
Location: Upstate South Carolina
Posts: 30,768
Originally posted by Ed_and_Karen
PC wouldn't even offer me a bank account - even though I have one with HSBC! They looked at the 9 on the front of my SIN and showed me the door! I'll be sticking with HSBC. Even though they don't have many branches here, they are being very helpful.
PC wouldn't even offer me a bank account - even though I have one with HSBC! They looked at the 9 on the front of my SIN and showed me the door! I'll be sticking with HSBC. Even though they don't have many branches here, they are being very helpful.
Jul 30th 2004, 4:20 pm
#17
Forum Regular
Joined: Jul 2004
Posts: 64
what does the 9 infront of sin number mean
is it like a temporary sin number ?
is it like a temporary sin number ?
Jul 30th 2004, 4:23 pm
#18
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Joined: Feb 2004
Location: Edmonton, Canada
Posts: 149
Originally posted by iaink
Try again without your SIN, or else keep paying rip off fees.
Try again without your SIN, or else keep paying rip off fees.
Much more helpful than the response I received at PC but, I suspect as always, you get what you pay for!
Aug 2nd 2004, 2:12 am
#20
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Joined: Oct 2002
Location: Cornwall, UK
Posts: 244
Banks applications are full of crap in Canada. You fill out the form, then it says SIN is optional.
Most people tell you not to put your SIN on application forms if you do not have to. Only tax, cp and for employment purposes.
Ok, so you don`t put your SIN on the form and they turn you away. They always insist you put down your SIN details.
Why do they say it`s optional when really it is not? It is basically a requirment so they can check your credit rating.
Most people tell you not to put your SIN on application forms if you do not have to. Only tax, cp and for employment purposes.
Ok, so you don`t put your SIN on the form and they turn you away. They always insist you put down your SIN details.
Why do they say it`s optional when really it is not? It is basically a requirment so they can check your credit rating.
Aug 9th 2004, 11:04 am
#21
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Posts: n/a
Re: Establishing a credit history in canada !!!
Most banks will want your SIN when you are applying for a credit card, its just a way of covering their own bacon and tracking you, must you do a runner.
Good Karma helps !
Good Karma helps !
Originally Posted by BritBob
Banks applications are full of crap in Canada. You fill out the form, then it says SIN is optional.
Most people tell you not to put your SIN on application forms if you do not have to. Only tax, cp and for employment purposes.
Ok, so you don`t put your SIN on the form and they turn you away. They always insist you put down your SIN details.
Why do they say it`s optional when really it is not? It is basically a requirment so they can check your credit rating.
Most people tell you not to put your SIN on application forms if you do not have to. Only tax, cp and for employment purposes.
Ok, so you don`t put your SIN on the form and they turn you away. They always insist you put down your SIN details.
Why do they say it`s optional when really it is not? It is basically a requirment so they can check your credit rating.
Sep 17th 2004, 10:58 pm
#22
Guest
Posts: n/a
Re: Establishing a credit history in canada !!!
The SIN thing is for them to cover their own BACON, in the UK, you are not asked for you national insurance number, and that is why people get to move around easily 
Originally Posted by BritBob
Banks applications are full of crap in Canada. You fill out the form, then it says SIN is optional.
Most people tell you not to put your SIN on application forms if you do not have to. Only tax, cp and for employment purposes.
Ok, so you don`t put your SIN on the form and they turn you away. They always insist you put down your SIN details.
Why do they say it`s optional when really it is not? It is basically a requirment so they can check your credit rating.
Most people tell you not to put your SIN on application forms if you do not have to. Only tax, cp and for employment purposes.
Ok, so you don`t put your SIN on the form and they turn you away. They always insist you put down your SIN details.
Why do they say it`s optional when really it is not? It is basically a requirment so they can check your credit rating.
Sep 18th 2004, 10:44 am
#23
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Joined: Jan 2004
Location: JAFAland, NZ
Posts: 747
Re: Establishing a credit history in canada !!!
does anyone know of a way to start building history while still in the uk? i have an address i can use in calgary. can i apply for a store card? or open a bank account without pr yet?
Sep 18th 2004, 11:42 am
#24
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Posts: n/a
Re: Establishing a credit history in canada !!!
The answer to that dude, is no you can't start building a credit history yet without being a PR and have a valid SIN card. You will have to be here physical to apply for one, and if you are not working and having been there for a while, your chance of getting a card IS SLIM.
If you sieve thru' this thread, you might have seen SECURED CARDS being mentioned, that is your only chance of building a credit history when you get here, and start working. Stay away from store cards, they might be able to get, but you will be paying 25. something % interest, not really worth it to be honest.
I have heard people opening accounts in the UK with HSBC, and then transfering it over here, but they do not have branches everywhere.
http://www.ukpersonal.hsbc.co.uk/
If you sieve thru' this thread, you might have seen SECURED CARDS being mentioned, that is your only chance of building a credit history when you get here, and start working. Stay away from store cards, they might be able to get, but you will be paying 25. something % interest, not really worth it to be honest.
I have heard people opening accounts in the UK with HSBC, and then transfering it over here, but they do not have branches everywhere.
http://www.ukpersonal.hsbc.co.uk/
Originally Posted by owen
does anyone know of a way to start building history while still in the uk? i have an address i can use in calgary. can i apply for a store card? or open a bank account without pr yet?
Last edited by squarepants; Sep 18th 2004 at 12:24 pm.
Sep 18th 2004, 11:22 pm
#25
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Joined: Mar 2004
Location: Hamilton, Ontario ex Loughton, Essex
Posts: 412
Re: Establishing a credit history in canada !!!
ScotiaBank gave me a $2000 credit limit based on the fact that I keep at least $2400 in their MoneyMaster (Savings Account). You are only allowed 20 per cent over the limit hence the $2400. This with a sister who works at that particular bank and is friends with the manager who opened my account.
Sep 18th 2004, 11:38 pm
#26
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Posts: n/a
Re: Establishing a credit history in canada !!!
Is this a secured or unsecured credit card? TD bank will give you the same thing if you leave a deposit of $500 ( that you can't touch ). A secured credit card, and after a year, you get your money back, it takes 6 months to build a credit history anyway.
Originally Posted by CDNReturner
ScotiaBank gave me a $2000 credit limit based on the fact that I keep at least $2400 in their MoneyMaster (Savings Account). You are only allowed 20 per cent over the limit hence the $2400. This with a sister who works at that particular bank and is friends with the manager who opened my account.
Sep 18th 2004, 11:50 pm
#27
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Posts: n/a
Re: Establishing a credit history in canada !!!
Originally Posted by squarepants
Is this a secured or unsecured credit card? TD bank will give you the same thing if you leave a deposit of $500 ( that you can't touch ). A secured credit card, and after a year, you get your money back, it takes 6 months to build a credit history anyway.
I got a motgage through Scotiabank six weeks after arriving in Canada.
I put down 50% on the house, a mortgage was no problem.
A history, by definition takes time.
Sep 18th 2004, 11:55 pm
#28
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Posts: n/a
Re: Establishing a credit history in canada !!!
Listen.....what exactly is your problem, if you are trying to be a smart-ass or on an ego trip, take it somewhere else, am not interested YES ....we know if you leave a big deposit, you will get a mortgage, but how many have the capital to do that?
The link and info here, are for the average joe, not moneybags like yourself I see you just joined, you might want to take time to read the whole thread, before jumping in like a nincompoop !
YES ....we know if you leave a big deposit, you will get a mortgage, but how many have the capital to do that?The link and info here, are for the average joe, not moneybags like yourself
I see you just joined, you might want to take time to read the whole thread, before jumping in like a nincompoop !
Originally Posted by Friar.Tuck
A credit rating can be build in one day if you have a big enough deposit for whatever you want to buy.
I got a motgage through Scotiabank six weeks after arriving in Canada.
I put down 50% on the house, a mortgage was no problem.
A history, by definition takes time.
I got a motgage through Scotiabank six weeks after arriving in Canada.
I put down 50% on the house, a mortgage was no problem.
A history, by definition takes time.
Sep 19th 2004, 12:06 am
#29
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Posts: n/a
Re: Establishing a credit history in canada !!!
Originally Posted by squarepants
Listen.....what exactly is your problem, if you are trying to be a smart-ass or on an ego trip, take it somewhere else, am not interested YES ....we know if you leave a big deposit, you will get a mortgage, but how many have the capital to do that?
The link and info here, are for the average joe, not moneybags like yourself I see you just joined, you might want to take time to read the whole thread, before jumping in like a nincompoop !
YES ....we know if you leave a big deposit, you will get a mortgage, but how many have the capital to do that?The link and info here, are for the average joe, not moneybags like yourself
I see you just joined, you might want to take time to read the whole thread, before jumping in like a nincompoop !You may be Mr Average, but not everyone is!
Sep 19th 2004, 12:12 am
#30
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Posts: n/a
Re: Establishing a credit history in canada !!!
You know this how? Listen....once again the links and advice there is for people that want to know how to go about things here. If you think am MR average fine, you seem to know my financial situation for some reason
Even if people have money with them when they come over, the last thing you want to do, is jump right into the housing market, especially if you haven't got a job lined up.
Once again....spend time read the forum and the thread before you open your mouth. Am drawing the mods attention to your silly posts, because its people like you that start flaming, and when it gets to you, you start trying to make people feel sorry for you
Even if people have money with them when they come over, the last thing you want to do, is jump right into the housing market, especially if you haven't got a job lined up.
Once again....spend time read the forum and the thread before you open your mouth. Am drawing the mods attention to your silly posts, because its people like you that start flaming, and when it gets to you, you start trying to make people feel sorry for you
Originally Posted by Friar.Tuck
The thing is squarepanties, that a lot of the people coming in from Britain WILL have a large cash deposit available to them.
You may be Mr Average, but not everyone is!
You may be Mr Average, but not everyone is!