Just became PR but with bad credit score

[itsats]

Hi,

I appreciate if someone could tell me if there was anyone approved for a credit card, LOC or any type of credit (with bad credit) under the Newcomer's program with the 5 big banks? and without a co-signer?

My credit score is fair but I have 1 unpaid collections. I was an international student, became foreign worker, and now a PR. I was declined with Scotiabank a few months back while I was a foreign worker. I'm wondering if it matters that I am a PR now. Since then, I acquired an auto loan and a phone line under my name.

 

[links18]

Hi,

I appreciate if someone could tell me if there was anyone approved for a credit card, LOC or any type of credit (with bad credit) under the Newcomer's program with the 5 big banks? and without a co-signer?

My credit score is fair but I have 1 unpaid collections. I was an international student, became foreign worker, and now a PR. I was declined with Scotiabank a few months back while I was a foreign worker. I'm wondering if it matters that I am a PR now. Since then, I acquired an auto loan and a phone line under my name.

Your immigration status won't affect your credit score. If you have been paying on time for an auto loan for awhile, your score will eventually go up, but too many applications might make it go down. But if you have unpaid collections, that's a major detriment depending on how old it is.

 

[Wolverine17]

Hi,

I appreciate if someone could tell me if there was anyone approved for a credit card, LOC or any type of credit (with bad credit) under the Newcomer's program with the 5 big banks? and without a co-signer?

My credit score is fair but I have 1 unpaid collections. I was an international student, became foreign worker, and now a PR. I was declined with Scotiabank a few months back while I was a foreign worker. I'm wondering if it matters that I am a PR now. Since then, I acquired an auto loan and a phone line under my name.

How long have you been in canada ?

 

[Alex54321]

How long have you been in canada ?

Can somebody shed a little light on Credit Score building process in Canada? My specific question is how does this work when the bank, which issues CC, does not ask for SIN. How Canadian person (PR or Citizen) gets identified without using SIN.?

My spouse has in US big credit lines (thousands of $) with Credit Score around 820, here in Canada after 6 months of being PR with funny $1000 Credit Limit from TD and $1500 Credit Limit from Costco CapitalOne CC her Credit Score went right away to 720. How does this work?

 

[Copingwithlife]

Can somebody shed a little light on Credit Score building process in Canada? My specific question is how does this work when the bank, which issues CC, does not ask for SIN. How Canadian person (PR or Citizen) gets identified without using SIN.?

My spouse has in US big credit lines (thousands of $) with Credit Score around 820, here in Canada after 6 months of being PR with funny $1000 Credit Limit from TD and $1500 Credit Limit from Costco CapitalOne CC her Credit Score went right away to 720. How does this work?

You are confusing the use of the SIN with the use of the SSN. Different countries, so different uses. A SIN would be requested from the bank to report interest/investment income. A CC is not any of this. In the USA seems they use the SSN for identification purposes, in Canada there are strict guidelines on what it can be used for. For example when applying for a cell phone, the cell phone company might ask for it, but CANNOT demand it.
Same thing with CC's, on applications there will be a space for the SIN, but I personally do not fill that in. They can pull my credit score by my birth date, name, address From there they can check to see my history

https://www.canada.ca/en/employment-social-development/services/sin/reports/code-of-practice/annex-2.html

 

[BC4life]

Hi,

I appreciate if someone could tell me if there was anyone approved for a credit card, LOC or any type of credit (with bad credit) under the Newcomer's program with the 5 big banks? and without a co-signer?

My credit score is fair but I have 1 unpaid collections. I was an international student, became foreign worker, and now a PR. I was declined with Scotiabank a few months back while I was a foreign worker. I'm wondering if it matters that I am a PR now. Since then, I acquired an auto loan and a phone line under my name.

How old is the debt? Have you been receiving collection calls? You might be able to settle this debt for pennies on the dollar and be done with it. It will still show up on your credit report but at least as Paid instead of in collection.

 

[steaky]

Hi Everyone, Can Anyone shed some light, Does debt in USA effect the chances of Canada PR for an Indian citizen. I am stuck in India and have no chance of going back to USA, I have a debt in USA and I cannot pay it now with my current situation. Does that debt effect my Canada PR or FBI clearance from USA

Can't you wire the funds to repay the debt?

 

[steaky]

No, I am stuck in India with no job for last 6 months, I have amount but the sources are all blocked with other things,

Since you have internet. you can access online banking and wire the funds. You don't need to physically in the US.

 

[Alex54321]

It is not about internet or wiring the funds, I am stuck financially to clear it, hope you understand. I am planning to move to Canada and would be able to clear it, but concerned the FBI report would not clear

Just order your FBI report and you will see what's there...