So I've recently received a few "pre-approved" credit card applications in the mail, the latest being from MBNA. Looks like a great deal, no fee, 0% balance transfers etc (not seen any deals close to this good in Canada yet) - BUT, as we are not yet PRs (still waiting COPR, PPR, etc) I'm dubious whether we can class ourselves as Canadian residents (part of the T&Cs) - I don't want to apply if I don't stand a chance of being approved/accepted as this would obviously affect my credit rating. Do any of you wise sages out there know whether I would get away with classing myself as a Canadian resident even though I'm currently here on a TWP? We've been here for almost 2 years btw.....

Thank-you!!

We got a credit card whilst still on TWP.
If you live in Canada, you're a resident (not to be confused with PR).
Personally, I would check your credit score to see what it looks like. If it's anything below 650 ish, I think you'll get rejected.

Did you have to prove you have collateral equal to the allowable credit though? I know we could get one from the bank if we show we have the same amount in savings, but defeats the object to me....if I have the dosh, why would I need credit?

Nope, just applied, and was accepted.
I think it was $5,000 at first, then they bumped it up to $7,500.

Ah ok, interesting.....! Guess I have to pay to see my current credit score though, right??

I would just go speak with your bank. Ours told us there and then.

I will! Thank-you!!

I got lots of junk mail saying I was pre approved when on a TWP, and none of it led to a credit card.

I dont think applying a couple of times will hurt your credit rating, but you are better of arranging it via your own bank with a guaranteed card (leave money in a GIC). Preapproved by junk mail does not mean preapproved to receive a card Im afraid.

Equifax will give you a free 30 days, and then it's something like $15 a month... but you can cancel after the free trial if you want. You do need a credit card to register though.

Banks wont usually tell you what your credit score is.

If you've been with your bank since you arrived, have some credit (eg/ car loan, etc), and no missed payments, you should be OK.

The TWP thing is only really a hindrance in the beginning. Once you start to build a credit score, it gets easier... but it's the usual chicken and egg story. You cannot get credit without a credit score... but you cannot get a credit score without having credit.

I know Ian mentioned a guaranteed credit card... each to their own, but personally I find them a bit insulting. If your bank doesnt trust you with $1000 (or whatever), close down your account and go elsewhere.

Good luck.

I tried the "I'm taking my business elsewhere" line.

I now bank elsewhere.

and I didnt get a credit card there either on a TWP with a 9xx sin. Didnt know about guaranteed cards then , but as you say, its insulting anyway.

Maybe things are better now, but I know Im not the only one to struggle as a temp resident, and its not like I didnt have other credit (car lease, furniture on credit etc) and a steady income. Really I only wanted the convenience. Im still bitter towards TD as a result, they lost a customer for life.

I did too, but after 6 months or so, it wasnt a problem.
That was with RBC in 2009, just after the credit nonsense, so definitely not an easy time to get credit.

Do you have a link ? I just had a look at the equifax site as was interested just to get my score online but looks like you have to sign up straight away with no free trial. The offer may have finished.

Sorry - bit of googling and I found it !

https://www.econsumer.equifax.ca/trial_en.html

I got a Visa with CIBC while on TWP ($1,000 dollar limit, but they've raised it since) - but then they rejected me when I applied for a different variety of card. Turns out in the meantime I'd opened a TFSA and so had to give them my SIN.

Luckily, the SIN box on most card applications is optional, so just don't give it to them...

I found it surprisingly annoying to live without a credit card - no online shopping, can't rent a car, often can't book a hotel room.

My bank (SB) have let me have a CC my credit limit is $500. They have also told it will never increase as i am on a TWP.
I was advised by my Senior Banking Advisor, never borrow more than 50% of my limit. (I've ended up using my debit card more often.)