Needs to check credit to open new account with PC bank.....??


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RBO   
Member since: Aug 06
Posts: 1761
Location: Mississauaga

Post ID: #PID Posted on: 24-09-08 15:01:55

I am planning for mortgage within next six months, so i was worried.

Thanks all of you again for reply..........



chittesh   
Member since: May 05
Posts: 448
Location: Here and There

Post ID: #PID Posted on: 25-09-08 12:41:56

Most big banks need 5000 before giving u a no charge account (TD example)
TD opened my account without credit check

You are lucky, when i was new to Canada and couldn't put 5K away and was being charged transaction fees i applied for a PC account. In a couple of weeks i get a letter indicating it was rejected due to lack of credit history.
No one told me anything about credit being checked and i was too new to know the credit rating based system..





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RBO   
Member since: Aug 06
Posts: 1761
Location: Mississauaga

Post ID: #PID Posted on: 25-09-08 17:45:17

Quote:
Originally posted by chittesh

Most big banks need 5000 before giving u a no charge account (TD example)
TD opened my account without credit check

You are lucky, when i was new to Canada and couldn't put 5K away and was being charged transaction fees i applied for a PC account. In a couple of weeks i get a letter indicating it was rejected due to lack of credit history.
No one told me anything about credit being checked and i was too new to know the credit rating based system..







You are right chittesh, when i was new that time TD refused to give me a credit card. that time i remember i applied credit card with security deposit.

One of my relative aware me a lot how credit will effect ones will go bad credit in your history.

regards



905Desi   
Member since: Feb 08
Posts: 279
Location: Greater Toronto Arena

Post ID: #PID Posted on: 27-09-08 14:26:40

Quote:
Originally posted by RBO

Hi all,

Today i went to open new account with PC with my wife. Black lady who was looking after us she told us that if i am going to open new Chaquing and Saving account with PC than they will check my credit by Credit deptt.

We both didn't agreed to check our credit than she argued and told us each and every bank checking credits when you are going to open new account with bank.

I wondered and i told that lady if i am NOT agreed to check my and my wife credit than still i am able to open account or Not? She replied me yes you can but you can withdraw only $200 per day and if you deposit chaque than that money you can use after 7 business days. If you are agreed to check your credit that you can do unlimited acess means you can withdraw whatever amount you want.

Is it really needs to check credit to open a new account?

IF they will check our credit......our score will go down with how much percentage?

Some of my friends told me is not require to check credit to open new account.

please advice me as i confused on this stage. right now i told that lady let me clear my concept and i will come again to open an account.

Your feedback regarding this will help me a lot to take a decision..

Thanks in advance..

that same black lady gave me troubles to open my account too!!!!


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Contributors: RBO(3) pratickm(1) viggy(1) 905Desi(1) chittesh(1) AshwaniG(1) Aashu(1) regar(1) Ash20(1)



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