For just about anything, you need a good credit history in Canada - and for that you need a Credit Card - to get a Credit Card, you need a credit history. Truly bizarre in my opinion.

I got my SIN today (through the phone - will get actual card sometime later this week).

Now I am told I have the following 2 options :-

1) Go for a secured card from CIBC or TD. The TD guy (where I have my bank account) told me that if I have a 9-series SIN, I won't get a credit card - perhaps not even a secured card.

I haven't tried CIBC yet - but wanted to ask you how good my chances are. I don't wanna put more than 500 CDN in the secured card deposit account - as I don't have a lot of money to waste as dead money. Will CIBC give me a secured card for 500 bucks? I am not an immigrant here. I am on a W1-worker-visa. I'll be here for 3-4 years minimum though.

2) A friend said, I could ask Canadian Tire or Walmart for an un-secured MasterCard. I am not sure why those firms would want to give an un-secured card to a newcomer. Is this true? Should I try this option?

Thanks for any suggestions and tips.

Hi Fonzie,

I work with CIBC and can explain you the reason for this funny situation. I know it's difficult in the beginning, but everybody go thru it. I have been able to get secured credit card for a person who is on work permit (min exp dt should be 180 days).

The other option of C Tire is also OK, but you are not guaranteed to get a card. However it is always advisable to go in for a secured credit card from a major bank. I have heard of some cases where even TD has given secured card to landed person, but beware, they charge apprx $35 lien marking fees. You don't have to spend that kind of money with CIBC. Let me kow if you are interested.

All the best

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Let's help each other to grow & prosper in Canada

This is not the complete truth. I landed in Canada on saturday and opened a account and applied for a secured credit card with TD today. Credit Card application will take 2 weeks. Tomorrow i will go apply for SIN which will take 4 weeks, so all the digits stuff is not valid since you dont have a SIN number.
Get a secured card and use it as much as you can and pay all your bills on time for a year..you need atleast 650 points on your credit report for applying for any sort of mortgage (which i believe is one of the best investment options here)
Am going to OHIP office tomorrow for registration and will get a cellphone account and then will start my job search.

If you have $'s there are a few places as good as canada, i've figured this out in 3 days :-)))

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Live and Let Live

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Orginally posted by chittesh

This is not the complete truth. I landed in Canada on saturday and opened a account and applied for a secured credit card with TD today. Credit Card application will take 2 weeks. Tomorrow i will go apply for SIN which will take 4 weeks, so all the digits stuff is not valid since you dont have a SIN number.
Get a secured card and use it as much as you can and pay all your bills on time for a year..you need atleast 650 points on your credit report for applying for any sort of mortgage (which i believe is one of the best investment options here)
Am going to OHIP office tomorrow for registration and will get a cellphone account and then will start my job search.

If you have $'s there are a few places as good as canada, i've figured this out in 3 days :-)))

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Let's help each other to grow & prosper in Canada

Hello reachash,

The 180 day thing is a problem - my Visa is currently stamped till Feb-1-2006 and I was planning on applying to extend it around November. In this situation, should I extend my Visa earlier? And wait until I have a stamping for a longer period before applying for a secured card?

Also, irrespective of the Visa-end date, if I am prepared to deposit the secured-amount for 180 days+, will there still be a problem?

Will a recommendation letter from my employer help in any way?

Thank you.

I somehow didn' t have a problem regarding credit cards. When i opened the bank account with RBC i asked the customer care rep and she said come back when you get your SIN and we will issue a card to you. Right enough, I went back to the bank, spoke to a different customer care assoc and she took my SIN no and immediately issued me the credit card.

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Orginally posted by amitcr

I somehow didn' t have a problem regarding credit cards. When i opened the bank account with RBC i asked the customer care rep and she said come back when you get your SIN and we will issue a card to you. Right enough, I went back to the bank, spoke to a different customer care assoc and she took my SIN no and immediately issued me the credit card.

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