New citizen credit
Hi guys,
EDIT: Should I sign up online first? Would a mailbox address help for proof of address. Following my citizenship (which was supposed to be at birth, meaning it could cause some issues) being given to me, I flew out to Alberta and as Calgarys employment rate is low atm, I've opted for Edmonton. I hope to start up a psychology/psychotherapy/hypnotherapy room to build income but meanwhile, as I've become disabled at age 33, I've used up my savings the past 7 years- to live on. Would anyone have any ideas or tried and tested stories of New immigrant programmes and unsecured cards to build credit? Kindest thanks Darwin |
Re: New citizen credit
A friend of mine was in the same boat as you, ie- no credit history in Canada. He went to the bank (TD) and applied for a credit card to build up his credit. They made him deposit $2,000 and gave him a measley $500 credit limit. So he had $2,500 in total. He did this for 1 year and then they gave him $4,000 credit.
This combined with a mobile phone, cable TV, electricity and gas bills helped him establish a credit rating in Canada. |
Re: New citizen credit
Thanks for the reply. Great stuff.
I'm wondering if anyone has also had experience of new comers bank packages and getting a mail address rather than just PO Box. Thank you again |
Re: New citizen credit
Originally Posted by DarwinCharles
(Post 12764010)
Thanks for the reply. Great stuff.
I'm wondering if anyone has also had experience of new comers bank packages and getting a mail address rather than just PO Box. Thank you again I don't know how the bank would react to giving a newcomer to Canada a line of credit with only a PO box as a mailing address. |
Re: New citizen credit
I'm a new comer but a citizen by way of my father. I see there are bank packages designed for new comers and wondered if anyone had gained experience of them.
I'm back in the UK, with 4 lessons to complete to put towards the business I want to start up, I hope to move to Alberta in April. Thank you |
Re: New citizen credit
https://startright.scotiabank.com/newcomers.html
You will need a physical address, but you can set up your initial account online and complete it once you have arrived. You may be able to get a secured credit card - I paid $1000 into a GIS with the bank when I opened the account and was given a $1000 credit limit. To get a line of credit without a job or any provable income may be difficult, unless it's secured against property (never a good idea). If you are talking about getting the funding to start your own business, you might be able to qualify for that as a Canadian Citizen https://canadabusiness.ca/starting/f...-new-business/ https://canadabusiness.ca/programs/n...epreneur-loan/ Do be aware that you won't be able to work in psychology/psychotherapy/hypnotherapy unless you have the required certifications from Alberta.https://www.ccpa-accp.ca/membership/certification https://www.ccpa-accp.ca/profession/associations https://www.acta-alberta.ca/ |
Re: New citizen credit
Setting up with a disability is hard. I was super fit and on my way to work in FL following my Psychologist degree. A tick bite ended that and put me in a wheelchair. I can now work around my health if I do limited hours, on days that I can cope. A real trash hand dealt but I'm doing what I can with it.
Hypnotherapy in Alberta is unregulated, though my current addition studies cover UK and also a couple of USA states. In the UK, it is currently also unregulated. I will continue in psychotherapy as I build a client base in hypnotherapy. Counselling is different fortunately, not something I'm interested in but I did check those websites out before so thanm you for providing the links again :) very grateful to you. I don't think as a 'settler' I'll be allowed to submit to disability for a short time. As soon as I could walk a few paces again, I've wanted to be off of it, you cannot live properly on it at all. I'm trying to work out the best ways to navigate all this. Systems are designed not to help the disabled much. Thank you :) |
Re: New citizen credit
TBH ........... Canada is not the best place to live with a disability.
It's better than some other countries, but not anywhere close to the UK. I have a couple of friends who had that tick bite. One is still suffering, another took years to get back to work properly but that was work he had been doing before he became ill (university professor), only he went to a warmer climate. |
Re: New citizen credit
It's certainly a struggle for sure but the constant UK rain and darkness piles depression on top. I wanted to move to Canada at 22 but the Gov took until I was 39 to issue my citizenship. My sister is moving to Alberta so I'll have someone nearby. Tick bites are vicious for sure, who knew it could almost kill a person.
I can work from home probably 30 hrs a week, I just need to set up and then get clients :) |
Re: New citizen credit
Scotiabank and BMO both informed me that Canadian citizens are ineligible for their newcomer bank account packages. I am a citizen but have not resided in Canada since I was three years old, but was still told I was ineligible. I suppose this is because it is impossible for a Canadian citizen to prove that they have never lived in Canada before.
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Re: New citizen credit
I obtained a President's Choice Financial Mastercard however, despite having just arrived in Canada with no job or credit history in Canada. This was after one of their sales representatives approached me while I was shopping in a Shoppers Drug Mart. I showed her my Canadian passport and she typed my application into her ipad. Initially my application did not go through because I did not input a Canadian phone number. She may have asked for my Social Insurance Number (SIN) but I cannot remember. She certainly asked what my salary was in my last job in the UK and she input the value after I converted it to Canadian dollars. If I remember correctly she did not ask for proof of address.
A few days later I received a phone call from President's Choice and they just asked me to confirm verbally the information in my application. Then I received an email from them that my application had been accepted and that my credit card would arrive in the mail in 7 - 10 working days. When it arrived the credit limit was $1000. When I opened my bank account with BMO they accepted the address on the letter from Service Canada with my SIN as proof of address. This is in contrast with Scotiabank who demanded a letter from my landlord. |
Re: New citizen credit
Capital One is pretty lax on who they give cards to, they basically have no real hurdles for their secured card, they require minimum of $200 and I can't remember what their maximum is, but the credit limit is whatever you deposit, so deposit $1,000 you get a $1,000 limit.
Canadian tire is more lax as well for their credit card. Wal-Mart used to have fairly low credit requirements as well for their card. They don't offer the best rates and may have annual fees but Capital One is how I got started originally, they were the only ones willing to give me credit with no history. And being disabled in Canada can be rough, there is fairly limited supports, and some provinces are better than others. |
Re: New citizen credit
Hi again guys,
My updates are as follows: BMO have informed me that I would in fact be eligible for a New Comers pack. The info I told them was that I have proof that I was UK born but law quirks left my Dad unable to register his kids as Canadians. I explained we got given 5.4 grants as special cases but not retroactively dated. I have IRCC proof from the then senior and head that I was a Lost Canadian- part of their group. I was unable to be registered as a citizen when Dad went back to Canada and had to wait until age 39 to be deemed 'Canadian'. This is rife in Canada abd very few understand it. Let's see if the bank hold up their end of the deal. Hypno-Psychotherapist in Canada have a registered board like the UK do but like most of the world, it is unregulated or licensed. Hopefully, I can run a small business in Edmonton or Calagary. Update complete for now. Thanks guys. |
Re: New citizen credit
Further update:
I re-contacted BMO with the details again and explained my citizenship is a 5.4 grant from the date it was given, that despite being born to Canadians I wasn't given citizenship. I explained how, again told them I have confirmed from IRCC that this was their doing and proof of approving my citizenship as a special case. They replied again saying the info I gave in both emails - does qualify me for the newcomers package. I will apply. If anyone sees this, how soon in advance does anyone think is best? I hope to be in Edmonton by the summertime but would like to use my transferwise acc to transfer funds to a BMO acc if they aporove me Thank you in advance |
Re: New citizen credit
Normally you may be able to semi-open (i.e. start the process) for an account online (not all banks offer this) but in order to complete the process and open the account fully you have to attend one of their branches and show various documentation, sign papers etc. You may be able to transfer money 'in' but won't be able to do anything with it until you complete the process.
https://britishexpats.com/wiki/Banking-Canada
Originally Posted by DarwinCharles
(Post 12799811)
Further update:
I re-contacted BMO with the details again and explained my citizenship is a 5.4 grant from the date it was given, that despite being born to Canadians I wasn't given citizenship. I explained how, again told them I have confirmed from IRCC that this was their doing and proof of approving my citizenship as a special case. They replied again saying the info I gave in both emails - does qualify me for the newcomers package. I will apply. If anyone sees this, how soon in advance does anyone think is best? I hope to be in Edmonton by the summertime but would like to use my transferwise acc to transfer funds to a BMO acc if they aporove me Thank you in advance |
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