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New PR: Banking and Credit Cards

noonnabi

Star Member
Jan 3, 2018
62
30
Does anyone have any input on which bank offers the best newcomers package for new permanent residents? I'm also interested in which banks offer the highest limit for (unsecured) credit cards if you don't yet have a job. TD Bank quoted me $1,000? Thanks for any help.
 

mgnlky

Champion Member
Jan 22, 2016
1,558
275
Vancouver
Category........
FSW
Visa Office......
Ottawa
NOC Code......
1122
Pre-Assessed..
Yes
App. Filed.......
22-12-2016
AOR Received.
22-12-2016
Med's Done....
04-11-2016
Passport Req..
22-3-2017
LANDED..........
04-09-2017
RBC gave me a 2,000$ limit with no job offer, as well as the benefits of their newcomers package. That being said, my experience with them can be summed up as, "Good bank to get you started, but not a long term solution."
 
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Miraclejj

Hero Member
Mar 10, 2017
981
373
I totally agreed. I was offered $2,000 limits credit card by RBC as well. But it also came with $120 annual fee, which it is rarely seen in US nowadays.
Comparing with US, there are so many services and business concepts & models are way behind.
RBC gave me a 2,000$ limit with no job offer, as well as the benefits of their newcomers package. That being said, my experience with them can be summed up as, "Good bank to get you started, but not a long term solution."
 

mgnlky

Champion Member
Jan 22, 2016
1,558
275
Vancouver
Category........
FSW
Visa Office......
Ottawa
NOC Code......
1122
Pre-Assessed..
Yes
App. Filed.......
22-12-2016
AOR Received.
22-12-2016
Med's Done....
04-11-2016
Passport Req..
22-3-2017
LANDED..........
04-09-2017
I totally agreed. I was offered $2,000 limits credit card by RBC as well. But it also came with $120 annual fee, which it is rarely seen in US nowadays.
Comparing with US, there are so many services and business concepts & models are way behind.
I was offered a card with an annual fee, but when I stated I preferred one without a fee, I was given this one https://www.rbcroyalbank.com/services/cards/cash-back/cash-back-master-card-s-or.html?gclid=Cj0KCQjwgOzdBRDlARIsAJ6_HNmMUhw5g2lUf0eD-Dd3fyi27EdoUXqOWUkaDn4oyDO3pvIqz55nTKYaAvWhEALw_wcB
 

jonnclk22

Star Member
Oct 20, 2017
179
57
Ghana
Category........
VISIT
Visa Office......
Nairobi
AOR Received.
01-01-2013
Passport Req..
01-01-2014
VISA ISSUED...
01-04-21014
I applied for a CIBC newcomers package. I was able to open an account online at the CIBC website. Then I booked an appointment for the same day for the nearest CIBC branch in Toronto. They were able to set me up right away with a Checking account that's free to use with unlimited free Interact transfers for one year, and free after that if I maintain the minimum balance. They also provided me with an unsecured credit card with $5000 limit - free for the first year and $120/year after that. That card has all sorts of purchase protection, car rental insurance and 4 lounge passes / year. I guess I'll use it for an year and switch to a card without an annual fee after that. According to the banker helping me, the 5000 limit was surprising since mostly he sees people getting approved for much lower credit. All they needed were my Canadian PR card, driver's license and that was it.