obtaining credit -- advice please

[LuckyJinx]

oh thats great to know. It looks like the secured method is the best and almost sure fire way of getting credit unsecured after a while. thanks for ur input!

[SocialMe]

Hello,

I am Canadian and I've worked at CIBC for 12 years.  I actually do credit card applications in my job.  I submit the application and then Visa Centre determines if it's approved or declined.  "Technically" your supposed to be a PR... however, if they don't know this, it may get approved.  We ask for your income and your household income.  If you are a "homemaker" then we will use spousal income.  If it doesn't approve then you could get a secured card... deposit $500 for a $500 limit.  Once you have a card, within a year, you will be approved for any card you'd want.

My husband is a US citizen with not so good credit history... we got him a card through Capital One... secured with $300 and got a $300 limit.  It hasn't even been a year and that $300 limit is now $1500 and was offered $10000 at CIBC.  So it is possible... and our PR app isn't even submitted yet!!!

BTW, stay away from "store" cards... in Canada they are always close to 30% interest... and they're not considered good credit to have.

Hope this helps.

[LuckyJinx]

oh that is great information. Thank you.
I figure there is no real way for them to know if i am a PR or not, Unless i specify to them and they input it in the system. As long as they know Im just new to the country , have a SIN, and need to build some credit.

Thanks again!