Canadian credit system
Jan 27th 2004, 8:50 pm
#16
Guest
Posts: n/a
Re: Canadian credit system
Yeah, right away, my friend opened a checking acc with Bank of America and
they offered him an unsecured CC,
"WebCrawler" <[email protected]> wrote in message
news:[email protected]...
> "John D" <[email protected]> wrote in message
> news:[email protected]...
> > I was wondering why the Canadian credit system is very slow compared to
> the
> > US credit system? in the US a new immigrant can open a bank acc and
> receive
> > a credit card with $250 or even $500 on it.
> Not right away.
> After about 6 months or so.
> To get a CC right away, you will have to put some kind of deposit.
they offered him an unsecured CC,
"WebCrawler" <[email protected]> wrote in message
news:[email protected]...
> "John D" <[email protected]> wrote in message
> news:[email protected]...
> > I was wondering why the Canadian credit system is very slow compared to
> the
> > US credit system? in the US a new immigrant can open a bank acc and
> receive
> > a credit card with $250 or even $500 on it.
> Not right away.
> After about 6 months or so.
> To get a CC right away, you will have to put some kind of deposit.
Jan 27th 2004, 9:40 pm
#17
Guest
Posts: n/a
Re: Canadian credit system
Your friend's and my experiences are obviously different.
The very same Bank of America insisted that I put down a deposit.
One year later, they had no problems in making the credit card unsecured and
in increasing credit limits tenfold.
Maybe their policies wary from state-to-state or even from time-to-time.
During the times I came to the US, banks were not in doldrums like they are
now and were not begging for customers to give them money.
They didn't hesitate to turn away people from whom they had no chance of
making any interest money.
If that works for your friend, then great !
"John D" <[email protected]> wrote in message
news:[email protected]...
> Yeah, right away, my friend opened a checking acc with Bank of America and
> they offered him an unsecured CC,
> "WebCrawler" <[email protected]> wrote in message
> news:[email protected]...
> > "John D" <[email protected]> wrote in message
> > news:[email protected]...
> > > I was wondering why the Canadian credit system is very slow compared
to
> > the
> > > US credit system? in the US a new immigrant can open a bank acc and
> > receive
> > > a credit card with $250 or even $500 on it.
> >
> > Not right away.
> > After about 6 months or so.
> > To get a CC right away, you will have to put some kind of deposit.
> >
> >
The very same Bank of America insisted that I put down a deposit.
One year later, they had no problems in making the credit card unsecured and
in increasing credit limits tenfold.
Maybe their policies wary from state-to-state or even from time-to-time.
During the times I came to the US, banks were not in doldrums like they are
now and were not begging for customers to give them money.
They didn't hesitate to turn away people from whom they had no chance of
making any interest money.
If that works for your friend, then great !
"John D" <[email protected]> wrote in message
news:[email protected]...
> Yeah, right away, my friend opened a checking acc with Bank of America and
> they offered him an unsecured CC,
> "WebCrawler" <[email protected]> wrote in message
> news:[email protected]...
> > "John D" <[email protected]> wrote in message
> > news:[email protected]...
> > > I was wondering why the Canadian credit system is very slow compared
to
> > the
> > > US credit system? in the US a new immigrant can open a bank acc and
> > receive
> > > a credit card with $250 or even $500 on it.
> >
> > Not right away.
> > After about 6 months or so.
> > To get a CC right away, you will have to put some kind of deposit.
> >
> >
Jan 27th 2004, 9:43 pm
#18
Guest
Posts: n/a
Re: Canadian credit system
"John D" <[email protected]> wrote in message
news:[email protected]...
> But we don't have too many options of prepaid cards in Canada, the banking
> system in Canada is obsolete, in the US you open a regular checking acc
and
> comes with a Check card( debit card with the Visa or MC logo on it)
That is one thing I hope never catches on in Canada (or in any other
country).
I have warned about the potential dangers of such "fake" MC/Visa cards in
the past, and will do so again.
They are best cut-up, or left home for most of the time.
It is simply a way for the banks to make some additional money by taking a
cut off every CC transaction - it does nothing for the customer and puts
them in great financial danger.
news:[email protected]...
> But we don't have too many options of prepaid cards in Canada, the banking
> system in Canada is obsolete, in the US you open a regular checking acc
and
> comes with a Check card( debit card with the Visa or MC logo on it)
That is one thing I hope never catches on in Canada (or in any other
country).
I have warned about the potential dangers of such "fake" MC/Visa cards in
the past, and will do so again.
They are best cut-up, or left home for most of the time.
It is simply a way for the banks to make some additional money by taking a
cut off every CC transaction - it does nothing for the customer and puts
them in great financial danger.
Jan 28th 2004, 12:02 am
#19
Guest
Posts: n/a
Re: Canadian credit system
If you use credit to buy it and pay on time, yes.
"Peter Wu" <[email protected]> wrote in message
news:[email protected]...
> On Mon, 26 Jan 2004 21:48:26 -0500, Nick B wrote:
> > Establishing good credit history is essential for many things - even, in
> > some cases, for renting a home never mind obtaining a mortgage to buy
one.
> > With a secured credit card, a lender will not increase your limit unless
you
> > put up more security - they certainly will not consider six months'
history
> > to be a sign of stablilty. I have seen security released on credit
cards
> > after one year, but this is even rare, it usually takes at least 18
months
> > to two years' time before you look really good.
> > A short credit history is better than nil credit history, so long as
it's
> > good history. When combined with other factors in the credit granting
> > process, it is vital to being able to do things like financing cars or
> > homes.
> Somebody tells me that buying a car will score positively to my credit
> history? Is it true?
> --
> ,,,
> (o o) Peter Wu
> ---ooO-(_)-Ooo--- Powered by GNU/Linux 2.4.22
"Peter Wu" <[email protected]> wrote in message
news:[email protected]...
> On Mon, 26 Jan 2004 21:48:26 -0500, Nick B wrote:
> > Establishing good credit history is essential for many things - even, in
> > some cases, for renting a home never mind obtaining a mortgage to buy
one.
> > With a secured credit card, a lender will not increase your limit unless
you
> > put up more security - they certainly will not consider six months'
history
> > to be a sign of stablilty. I have seen security released on credit
cards
> > after one year, but this is even rare, it usually takes at least 18
months
> > to two years' time before you look really good.
> > A short credit history is better than nil credit history, so long as
it's
> > good history. When combined with other factors in the credit granting
> > process, it is vital to being able to do things like financing cars or
> > homes.
> Somebody tells me that buying a car will score positively to my credit
> history? Is it true?
> --
> ,,,
> (o o) Peter Wu
> ---ooO-(_)-Ooo--- Powered by GNU/Linux 2.4.22
Jan 28th 2004, 12:03 am
#20
Guest
Posts: n/a
Re: Canadian credit system
It might be taken into consideration, but not likely. If a lender is
willing to use information from a US source credit report, they'll obtain it
directly rather than get it from you. It's very rarely done, though.
"Ivy Tanith" <[email protected]> wrote in message
news:[email protected]...
> "Nick B." <[email protected]> wrote:
> > What sort of information are you looking for? I can probably answer a
lot
> > of your questions.
> I'm curious...as I understand it, Canadian creditors cannot/will not query
> American credit reporting bureaus. Would it be reasonable/helpful, or
> pointless, to bring a credit report and/or score from such (Equifax,
> Experian, TransUnion) along with me when applying for credit in Canada?
> --
> Ivy Tanith
> * enchanted be! * oh smeg! * mstie #31731 * hail the horned one *
> Life is like a speedbump - sometimes there are yellow lines.
willing to use information from a US source credit report, they'll obtain it
directly rather than get it from you. It's very rarely done, though.
"Ivy Tanith" <[email protected]> wrote in message
news:[email protected]...
> "Nick B." <[email protected]> wrote:
> > What sort of information are you looking for? I can probably answer a
lot
> > of your questions.
> I'm curious...as I understand it, Canadian creditors cannot/will not query
> American credit reporting bureaus. Would it be reasonable/helpful, or
> pointless, to bring a credit report and/or score from such (Equifax,
> Experian, TransUnion) along with me when applying for credit in Canada?
> --
> Ivy Tanith
> * enchanted be! * oh smeg! * mstie #31731 * hail the horned one *
> Life is like a speedbump - sometimes there are yellow lines.
Jan 28th 2004, 12:04 am
#21
Guest
Posts: n/a
Re: Canadian credit system
Canadian banks are generally more risk-averse than American banks are, and
there are not a plethora of sub-prime lenders in Canada (yet).
"John D" <[email protected]> wrote in message
news:[email protected]...
> I was wondering why the Canadian credit system is very slow compared to
the
> US credit system? in the US a new immigrant can open a bank acc and
receive
> a credit card with $250 or even $500 on it.
> "Peter Wu" <[email protected]> wrote in message
> news:[email protected]...
> > Is there any place where I can consult some questions regarding the
> > Canadian credit system? Different people tell me different stories...
> >
> > --
> > ,,,
> > (o o) Peter Wu
> > ---ooO-(_)-Ooo--- Powered by GNU/Linux 2.4.22
there are not a plethora of sub-prime lenders in Canada (yet).
"John D" <[email protected]> wrote in message
news:[email protected]...
> I was wondering why the Canadian credit system is very slow compared to
the
> US credit system? in the US a new immigrant can open a bank acc and
receive
> a credit card with $250 or even $500 on it.
> "Peter Wu" <[email protected]> wrote in message
> news:[email protected]...
> > Is there any place where I can consult some questions regarding the
> > Canadian credit system? Different people tell me different stories...
> >
> > --
> > ,,,
> > (o o) Peter Wu
> > ---ooO-(_)-Ooo--- Powered by GNU/Linux 2.4.22
Jan 28th 2004, 12:05 am
#22
Guest
Posts: n/a
Re: Canadian credit system
Actually, I would argue on many points that our banking system is more
advanced. Check cards have not caught on in Canada because the Interac
payment network has the market basically cornered... and we've had such
systems in place much longer than the U.S. has.
"John D" <[email protected]> wrote in message
news:[email protected]...
> But we don't have too many options of prepaid cards in Canada, the banking
> system in Canada is obsolete, in the US you open a regular checking acc
and
> comes with a Check card( debit card with the Visa or MC logo on it)
> "observer" <[email protected]> wrote in message
> news:%[email protected]...
> > You can get prepaid credit card very much like phone card.
> >
> >
> > "John D" <[email protected]> wrote in message
> > news:[email protected]...
> > > I was wondering why the Canadian credit system is very slow compared
to
> > the
> > > US credit system? in the US a new immigrant can open a bank acc and
> > receive
> > > a credit card with $250 or even $500 on it.
> > >
> > >
> > >
> > >
> > > "Peter Wu" <[email protected]> wrote in message
> > > news:[email protected]...
> > > > Is there any place where I can consult some questions regarding the
> > > > Canadian credit system? Different people tell me different
stories...
> > > >
> > > > --
> > > > ,,,
> > > > (o o) Peter Wu
> > > > ---ooO-(_)-Ooo--- Powered by GNU/Linux 2.4.22
> > >
> > >
> >
> >
advanced. Check cards have not caught on in Canada because the Interac
payment network has the market basically cornered... and we've had such
systems in place much longer than the U.S. has.
"John D" <[email protected]> wrote in message
news:[email protected]...
> But we don't have too many options of prepaid cards in Canada, the banking
> system in Canada is obsolete, in the US you open a regular checking acc
and
> comes with a Check card( debit card with the Visa or MC logo on it)
> "observer" <[email protected]> wrote in message
> news:%[email protected]...
> > You can get prepaid credit card very much like phone card.
> >
> >
> > "John D" <[email protected]> wrote in message
> > news:[email protected]...
> > > I was wondering why the Canadian credit system is very slow compared
to
> > the
> > > US credit system? in the US a new immigrant can open a bank acc and
> > receive
> > > a credit card with $250 or even $500 on it.
> > >
> > >
> > >
> > >
> > > "Peter Wu" <[email protected]> wrote in message
> > > news:[email protected]...
> > > > Is there any place where I can consult some questions regarding the
> > > > Canadian credit system? Different people tell me different
stories...
> > > >
> > > > --
> > > > ,,,
> > > > (o o) Peter Wu
> > > > ---ooO-(_)-Ooo--- Powered by GNU/Linux 2.4.22
> > >
> > >
> >
> >
Jan 28th 2004, 12:14 am
#23
Guest
Posts: n/a
Re: Canadian credit system
"John D" <[email protected]> wrote in message
news:[email protected]
> But we don't have too many options of prepaid cards in Canada, the banking
> system in Canada is obsolete, in the US you open a regular checking acc
> and comes with a Check card( debit card with the Visa or MC logo on it)
What do you mean by pre-paid card? If you mean secured credit card, then
most bank will issue secured credit card. You have very wrong idea about
banking system in Canada. Banking system in Canada is way more advanced in
technology implementation than most banking system in USA. Banking system in
USA is very fragmented, localized and does not have nationwide unified
network like in Canada.
Debit card is not credit card. This is just like any other bank card with
added advantage of using it with Visa/MC network (like Interac, PLUS, Cirrus
etc.). With huge disadvantage of being less secured. If anybody can get hold
of your debit card he can use it anywhere with a forged signature. The money
is deducted from your bank account right away and unlike credit card, the
issuing company will not stand behind you to recover back the money.
Moreover using a debit card will not help you build credit history.
--
news:[email protected]
> But we don't have too many options of prepaid cards in Canada, the banking
> system in Canada is obsolete, in the US you open a regular checking acc
> and comes with a Check card( debit card with the Visa or MC logo on it)
What do you mean by pre-paid card? If you mean secured credit card, then
most bank will issue secured credit card. You have very wrong idea about
banking system in Canada. Banking system in Canada is way more advanced in
technology implementation than most banking system in USA. Banking system in
USA is very fragmented, localized and does not have nationwide unified
network like in Canada.
Debit card is not credit card. This is just like any other bank card with
added advantage of using it with Visa/MC network (like Interac, PLUS, Cirrus
etc.). With huge disadvantage of being less secured. If anybody can get hold
of your debit card he can use it anywhere with a forged signature. The money
is deducted from your bank account right away and unlike credit card, the
issuing company will not stand behind you to recover back the money.
Moreover using a debit card will not help you build credit history.
--
Jan 28th 2004, 1:57 am
#24
Guest
Posts: n/a
Re: Canadian credit system
Ivy Tanith wrote:
> Would it be reasonable/helpful, or pointless, to bring a
> credit report and/or score from such (Equifax, Experian,
> TransUnion) along with me when applying for credit in Canada?
I tried to do this very thing in 1993, but the bank manager refused
to even look at the credit report because (he said) he had no way
to verify its authenticity.
Rich Wales [email protected] http://www.richw.org
*NOTE: I've lived in both Canada and the US and have dual citizenship.
*DISCLAIMER: I am not a lawyer, professional immigration consultant,
or consular officer. My comments are for discussion purposes only and
are not intended to be relied upon as legal or professional advice.
> Would it be reasonable/helpful, or pointless, to bring a
> credit report and/or score from such (Equifax, Experian,
> TransUnion) along with me when applying for credit in Canada?
I tried to do this very thing in 1993, but the bank manager refused
to even look at the credit report because (he said) he had no way
to verify its authenticity.
Rich Wales [email protected] http://www.richw.org
*NOTE: I've lived in both Canada and the US and have dual citizenship.
*DISCLAIMER: I am not a lawyer, professional immigration consultant,
or consular officer. My comments are for discussion purposes only and
are not intended to be relied upon as legal or professional advice.
Jan 28th 2004, 4:59 am
#25
Forum Regular
Joined: Oct 2003
Posts: 55
Re: Canadian credit system
Originally posted by Nick B.
... lots of useful advice ...
... lots of useful advice ...
1) If I pay off the credit card balance in full each month will that improve credit history more or less (or the same) as if I leave something outstanding.
2) Assuming I pay off in full each month does the absolute amount being charged/paid off make a difference to my credit rating or is it just doing it for n months thats important?
3) If I have a credit limit of say $1000 and pay say $5000 upfront to the card - so its now got $6000 on it to spend will this have any effect on the credit history.
4) One last thing - I've been told that having a Canadian mortgage doesn't help with establishing a credit history but a secured line of credit on the house does, Do you know if thats true?
Thanks for any help you can give.
Dave
Jan 28th 2004, 5:38 am
#26
Guest
Posts: n/a
Re: Canadian credit system
"Rich Wales" <[email protected]> wrote:
> I tried to do this very thing in 1993, but the bank manager refused
> to even look at the credit report because (he said) he had no way
> to verify its authenticity.
I figured that might be the case. Thanks for the replies, folks.
> I tried to do this very thing in 1993, but the bank manager refused
> to even look at the credit report because (he said) he had no way
> to verify its authenticity.
I figured that might be the case. Thanks for the replies, folks.
Jan 28th 2004, 6:02 am
#27
Guest
Posts: n/a
Re: Canadian credit system
I think they're great, what about for new Immigrants to Canada that doesn't
have credit? their only way to get a " credit card" would be a " check card"
, new immigrants don't have access to online buying or anything like that.
This also would work very good for people with bad credit, they will be able
to buy online because those cards use the VISA or MC logo.
"WebCrawler" <[email protected]> wrote in message
news:[email protected]...
> "John D" <[email protected]> wrote in message
> news:[email protected]...
> >
> > But we don't have too many options of prepaid cards in Canada, the
banking
> > system in Canada is obsolete, in the US you open a regular checking acc
> and
> > comes with a Check card( debit card with the Visa or MC logo on it)
> That is one thing I hope never catches on in Canada (or in any other
> country).
> I have warned about the potential dangers of such "fake" MC/Visa cards in
> the past, and will do so again.
> They are best cut-up, or left home for most of the time.
> It is simply a way for the banks to make some additional money by taking a
> cut off every CC transaction - it does nothing for the customer and puts
> them in great financial danger.
have credit? their only way to get a " credit card" would be a " check card"
, new immigrants don't have access to online buying or anything like that.
This also would work very good for people with bad credit, they will be able
to buy online because those cards use the VISA or MC logo.
"WebCrawler" <[email protected]> wrote in message
news:[email protected]...
> "John D" <[email protected]> wrote in message
> news:[email protected]...
> >
> > But we don't have too many options of prepaid cards in Canada, the
banking
> > system in Canada is obsolete, in the US you open a regular checking acc
> and
> > comes with a Check card( debit card with the Visa or MC logo on it)
> That is one thing I hope never catches on in Canada (or in any other
> country).
> I have warned about the potential dangers of such "fake" MC/Visa cards in
> the past, and will do so again.
> They are best cut-up, or left home for most of the time.
> It is simply a way for the banks to make some additional money by taking a
> cut off every CC transaction - it does nothing for the customer and puts
> them in great financial danger.
Jan 28th 2004, 6:03 am
#28
Guest
Posts: n/a
Re: Canadian credit system
Interac has a "Monopoly " in Canada, Interac is useless to buy online.
"Nick B." <[email protected]> wrote in message
news
[email protected]...
> Actually, I would argue on many points that our banking system is more
> advanced. Check cards have not caught on in Canada because the Interac
> payment network has the market basically cornered... and we've had such
> systems in place much longer than the U.S. has.
> "John D" <[email protected]> wrote in message
> news:[email protected]...
> >
> > But we don't have too many options of prepaid cards in Canada, the
banking
> > system in Canada is obsolete, in the US you open a regular checking acc
> and
> > comes with a Check card( debit card with the Visa or MC logo on it)
> >
> >
> >
> > "observer" <[email protected]> wrote in message
> > news:%[email protected]...
> > > You can get prepaid credit card very much like phone card.
> > >
> > >
> > > "John D" <[email protected]> wrote in message
> > > news:[email protected]...
> > > > I was wondering why the Canadian credit system is very slow compared
> to
> > > the
> > > > US credit system? in the US a new immigrant can open a bank acc and
> > > receive
> > > > a credit card with $250 or even $500 on it.
> > > >
> > > >
> > > >
> > > >
> > > > "Peter Wu" <[email protected]> wrote in message
> > > > news:[email protected]...
> > > > > Is there any place where I can consult some questions regarding
the
> > > > > Canadian credit system? Different people tell me different
> stories...
> > > > >
> > > > > --
> > > > > ,,,
> > > > > (o o) Peter Wu
> > > > > ---ooO-(_)-Ooo--- Powered by GNU/Linux 2.4.22
> > > >
> > > >
> > >
> > >
> >
> >
"Nick B." <[email protected]> wrote in message
news
[email protected]...> Actually, I would argue on many points that our banking system is more
> advanced. Check cards have not caught on in Canada because the Interac
> payment network has the market basically cornered... and we've had such
> systems in place much longer than the U.S. has.
> "John D" <[email protected]> wrote in message
> news:[email protected]...
> >
> > But we don't have too many options of prepaid cards in Canada, the
banking
> > system in Canada is obsolete, in the US you open a regular checking acc
> and
> > comes with a Check card( debit card with the Visa or MC logo on it)
> >
> >
> >
> > "observer" <[email protected]> wrote in message
> > news:%[email protected]...
> > > You can get prepaid credit card very much like phone card.
> > >
> > >
> > > "John D" <[email protected]> wrote in message
> > > news:[email protected]...
> > > > I was wondering why the Canadian credit system is very slow compared
> to
> > > the
> > > > US credit system? in the US a new immigrant can open a bank acc and
> > > receive
> > > > a credit card with $250 or even $500 on it.
> > > >
> > > >
> > > >
> > > >
> > > > "Peter Wu" <[email protected]> wrote in message
> > > > news:[email protected]...
> > > > > Is there any place where I can consult some questions regarding
the
> > > > > Canadian credit system? Different people tell me different
> stories...
> > > > >
> > > > > --
> > > > > ,,,
> > > > > (o o) Peter Wu
> > > > > ---ooO-(_)-Ooo--- Powered by GNU/Linux 2.4.22
> > > >
> > > >
> > >
> > >
> >
> >
Jan 28th 2004, 6:05 am
#29
Guest
Posts: n/a
Re: Canadian credit system
Yeah but that would be great for people with bad credit or no credit at all,
Interac is useless because you can't buy online with Interac, with the U.S
debit cards anyone can buy online.
"Elmar" <[email protected]> wrote in message
news:[email protected]...
> "John D" <[email protected]> wrote in message
> news:[email protected]
> > But we don't have too many options of prepaid cards in Canada, the
banking
> > system in Canada is obsolete, in the US you open a regular checking acc
> > and comes with a Check card( debit card with the Visa or MC logo on it)
> What do you mean by pre-paid card? If you mean secured credit card, then
> most bank will issue secured credit card. You have very wrong idea about
> banking system in Canada. Banking system in Canada is way more advanced in
> technology implementation than most banking system in USA. Banking system
in
> USA is very fragmented, localized and does not have nationwide unified
> network like in Canada.
> Debit card is not credit card. This is just like any other bank card with
> added advantage of using it with Visa/MC network (like Interac, PLUS,
Cirrus
> etc.). With huge disadvantage of being less secured. If anybody can get
hold
> of your debit card he can use it anywhere with a forged signature. The
money
> is deducted from your bank account right away and unlike credit card, the
> issuing company will not stand behind you to recover back the money.
> Moreover using a debit card will not help you build credit history.
> --
Interac is useless because you can't buy online with Interac, with the U.S
debit cards anyone can buy online.
"Elmar" <[email protected]> wrote in message
news:[email protected]...
> "John D" <[email protected]> wrote in message
> news:[email protected]
> > But we don't have too many options of prepaid cards in Canada, the
banking
> > system in Canada is obsolete, in the US you open a regular checking acc
> > and comes with a Check card( debit card with the Visa or MC logo on it)
> What do you mean by pre-paid card? If you mean secured credit card, then
> most bank will issue secured credit card. You have very wrong idea about
> banking system in Canada. Banking system in Canada is way more advanced in
> technology implementation than most banking system in USA. Banking system
in
> USA is very fragmented, localized and does not have nationwide unified
> network like in Canada.
> Debit card is not credit card. This is just like any other bank card with
> added advantage of using it with Visa/MC network (like Interac, PLUS,
Cirrus
> etc.). With huge disadvantage of being less secured. If anybody can get
hold
> of your debit card he can use it anywhere with a forged signature. The
money
> is deducted from your bank account right away and unlike credit card, the
> issuing company will not stand behind you to recover back the money.
> Moreover using a debit card will not help you build credit history.
> --
Jan 28th 2004, 6:08 am
#30
Guest
Posts: n/a
Re: Canadian credit system
If check cards are introduced in Canada Interac will go bankrupt, nobody
would want to use Interac again, it's just useless when you can use your
debit card as a credit card also, if you say "debit" you will enter your PIN
number, if you say "credit" you will sign the receipt and go!
"Nick B." <[email protected]> wrote in message
news[email protected]...
> Actually, I would argue on many points that our banking system is more
> advanced. Check cards have not caught on in Canada because the Interac
> payment network has the market basically cornered... and we've had such
> systems in place much longer than the U.S. has.
> "John D" <[email protected]> wrote in message
> news:[email protected]...
> >
> > But we don't have too many options of prepaid cards in Canada, the
banking
> > system in Canada is obsolete, in the US you open a regular checking acc
> and
> > comes with a Check card( debit card with the Visa or MC logo on it)
> >
> >
> >
> > "observer" <[email protected]> wrote in message
> > news:%[email protected]...
> > > You can get prepaid credit card very much like phone card.
> > >
> > >
> > > "John D" <[email protected]> wrote in message
> > > news:[email protected]...
> > > > I was wondering why the Canadian credit system is very slow compared
> to
> > > the
> > > > US credit system? in the US a new immigrant can open a bank acc and
> > > receive
> > > > a credit card with $250 or even $500 on it.
> > > >
> > > >
> > > >
> > > >
> > > > "Peter Wu" <[email protected]> wrote in message
> > > > news:[email protected]...
> > > > > Is there any place where I can consult some questions regarding
the
> > > > > Canadian credit system? Different people tell me different
> stories...
> > > > >
> > > > > --
> > > > > ,,,
> > > > > (o o) Peter Wu
> > > > > ---ooO-(_)-Ooo--- Powered by GNU/Linux 2.4.22
> > > >
> > > >
> > >
> > >
> >
> >
would want to use Interac again, it's just useless when you can use your
debit card as a credit card also, if you say "debit" you will enter your PIN
number, if you say "credit" you will sign the receipt and go!
"Nick B." <[email protected]> wrote in message
news
[email protected]...> Actually, I would argue on many points that our banking system is more
> advanced. Check cards have not caught on in Canada because the Interac
> payment network has the market basically cornered... and we've had such
> systems in place much longer than the U.S. has.
> "John D" <[email protected]> wrote in message
> news:[email protected]...
> >
> > But we don't have too many options of prepaid cards in Canada, the
banking
> > system in Canada is obsolete, in the US you open a regular checking acc
> and
> > comes with a Check card( debit card with the Visa or MC logo on it)
> >
> >
> >
> > "observer" <[email protected]> wrote in message
> > news:%[email protected]...
> > > You can get prepaid credit card very much like phone card.
> > >
> > >
> > > "John D" <[email protected]> wrote in message
> > > news:[email protected]...
> > > > I was wondering why the Canadian credit system is very slow compared
> to
> > > the
> > > > US credit system? in the US a new immigrant can open a bank acc and
> > > receive
> > > > a credit card with $250 or even $500 on it.
> > > >
> > > >
> > > >
> > > >
> > > > "Peter Wu" <[email protected]> wrote in message
> > > > news:[email protected]...
> > > > > Is there any place where I can consult some questions regarding
the
> > > > > Canadian credit system? Different people tell me different
> stories...
> > > > >
> > > > > --
> > > > > ,,,
> > > > > (o o) Peter Wu
> > > > > ---ooO-(_)-Ooo--- Powered by GNU/Linux 2.4.22
> > > >
> > > >
> > >
> > >
> >
> >