Credit history

[Parneet5d]

Hello everyone
Its been 6 months I am here as a student in Canada and how do I make a good credit history, how long would it take? Because I have been denied cellphone contract here saying your credit history is not strong.
Thanks

 

[aman singh]

Pay your credit card bills on time.

 

[heartbeat]

Hello everyone
Its been 6 months I am here as a student in Canada and how do I make a good credit history, how long would it take? Because I have been denied cellphone contract here saying your credit history is not strong.
Thanks

credit history will be good with passage of time and the time you spend in Canada, if you pay your utility by direct debit it will be a advantage, also register for electric vote..........

 

[just_do_it]

Get a secured credit card.... It's basically you pay a deposit equal to the limit of the card, put charges on it and and never be late.

You can also get a cellphone contract by putting a deposit down.

It takes time to build credit history, but smaller things are definitely the way to go. Just make sure you never miss a payment or you are screwed.

 

[heartbeat]

Get a secured credit card.... It's basically you pay a deposit equal to the limit of the card, put charges on it and and never be late.

You can also get a cellphone contract by putting a deposit down.

It takes time to build credit history, but smaller things are definitely the way to go. Just make sure you never miss a payment or you are screwed.

to get a credit card need a good history, if he qualifies for a credit card then getting a contract cell phone is not a big problem............well i suggest to get a sim only contract and you may eligible to a upgrade after 3 months

 

[Josh21]

to get a credit card need a good history, if he qualifies for a credit card then getting a contract cell phone is not a big problem............well i suggest to get a sim only contract and you may eligible to a upgrade after 3 months

I got a credit card one day after landing in Canada. I didnt have a credit history nor Did I offer any deposit. TD Canada just gave me a 1000 limit cc without any catches. I'm not sure if they give it to everyone or just some people. But its worth checking it out

To be honest I was quite suprised they gave me a card, what If i used everything and ran away? Regardless thanks to them I have a good credit history now since when you have a TD card everyone else just assumes your credit worthy too.

 

[just_do_it]

to get a credit card need a good history, if he qualifies for a credit card then getting a contract cell phone is not a big problem............well i suggest to get a sim only contract and you may eligible to a upgrade after 3 months

Hence the 'secured' credit card which is basically a pre-paid credit card aka no liability to the issuer. Capital one provides one and its a very good place to start building your credit history. Once you have had it for some time, you can try to get an un-secured card.

Its easier for immigrants but not for students. but then again, you never know.

I got one through mbna who were offering cards on campus (i actually went for the free t-shirts they were giving out) but got a cc as a bonus. I had been in canada for a few years by then but was still a student.

But if getting a cellphone is your only motive, offer to put a deposit down for a couple of hundred bucks and they should have no problem giving you a monthly deal. If not, go for smaller providers like Wind etc.

 

[Josh21]

Hence the 'secured' credit card which is basically a pre-paid credit card aka no liability to the issuer. Capital one provides one and its a very good place to start building your credit history. Once you have had it for some time, you can try to get an un-secured card.

Its easier for immigrants but not for students. but then again, you never know.

I got one through mbna who were offering cards on campus (i actually went for the free t-shirts they were giving out) but got a cc as a bonus. I had been in canada for a few years by then but was still a student.

But if getting a cellphone is your only motive, offer to put a deposit down for a couple of hundred bucks and they should have no problem giving you a monthly deal. If not, go for smaller providers like Wind etc.

Like I said, suggest TD to new people. I was a new student in the country and still got a card. Honestly it cant get better then that.

 

[just_do_it]

Like I said, suggest TD to new people. I was a new student in the country and still got a card. Honestly it cant get better then that.

Strange.... that TD would hand out credit cards just like that.

Its good for a newcomer but it can turn out to be a bad move too, access to easy credit without ever having to go through the pain of building credit, thats how money issues start. Just saying

 

[Josh21]

Strange.... that TD would hand out credit cards just like that.

Its good for a newcomer but it can turn out to be a bad move too, access to easy credit without ever having to go through the pain of building credit, thats how money issues start. Just saying

True, although I never wanted a card in the first place so it didnt seem to bother me. Only use it to pay the electricity and internet bills each month. When I first went to open a bank account the TD rep in the bank was like you may need to submit a deposit if you want a credit card. I responded by saying I dont need a card but even if I did a deposit is fine. She proceeded by applying on my behalf without offering a deposit and possibly giving her recommendation, I dont know. Overall the rep was quite cheerful and talked to me quite a bit so I guess she liked me. Strange but I suppose thats how it works in Montreal.

 

[heartbeat]

I got a credit card one day after landing in Canada. I didnt have a credit history nor Did I offer any deposit. TD Canada just gave me a 1000 limit cc without any catches. I'm not sure if they give it to everyone or just some people. But its worth checking it out

To be honest I was quite suprised they gave me a card, what If i used everything and ran away? Regardless thanks to them I have a good credit history now since when you have a TD card everyone else just assumes your credit worthy too.

you will used only 1000 and will run away, this is very less amount...........................made 10,00000000 and then think to run

 

[Josh21]

you will used only 1000 and will run away, this is very less amount...........................made 10,00000000 and then think to run

You misunderstood. It's a big concern if they do that for every customer. One would then have to estimate the bad debts which would likely be in the millions for them. Not to mention the fact of the opportunity cost of having so much money tied up.