No Credit History And Obtaining Credit In Canada

Q: Like others, I'm finding it literly impossible to gain any kind of credit in Canada after landing. Banks and Financial Institutions have a HUGE problem granting credit to new immigrations or ANYONE for that matter who does NOT have any Credit History. It's like they won't even give you a chance. I was wondering if anyone had any luck or ideas other than secured credit cards etc. Is there any banks or places that are alittle more understanding about the concept of wanting to start a credit history and perhaps a good relationship with it's client? Any ideas I would REALLY appreciate :) oh, and Canada ROCKS! :))

A: -10 years ago, a brand-new immigrant like yourself, I just filled out a Canadian Tire credit card application and within 2 months they mailed me the card. That was only for the Canadian Tire stores and gas stations. The credit limit was just $500. Since then I've got 8 major credit cards, VISA, MasterCard and AMEX, each one with a limit of over $10,000. No big deal! Besides the Canadian Tire, try other retailers, Sears, Bay, Zellers, Wal-Mart, Building Box, Rona, President's Choice, Brick, BadBoy, etc., that's how you start building your credit history. And do not forget, anytime you would like to check your credit record, call TransUnion of Canada or Equifax Canada, and you will get your credit history, up-to-date. And it's FREE. Best of luck. Chris PS I bet you have a phone in your household, is it in your name? If yes, you already have a credit history. Same for a cable/satellite TV account, Internet account, long-distance phone carrier account. Uncle Sam has already got you under his 'protection'... -When did Uncle Sam get his hand in CanadianCredit referances? anyhow. about secure credit cards. they do exist in Canada but aren't advertised. Which bank are you with? Try making an appointent with a personal banker or whatever the equivilant is and explain the situation and as k if they will do a secure credit card so you can build up yoru credit. Most will do this a sthey have nothing to lose as its secured and they should want to do it to get you acredit rating so they can happily lend you more and more money until they get richer, hehe. Also have you tried requesting yoru credit history from the New Zealand section of say Equifax or the equivilant. Although Equifax and other credit referances do not share data bewtween certain international zones you can still request datat held about you. I just got mine from the UK Equifac via the internet for ??2.50 delivered to my door, and it has my UK credit history on it. So you could always get that and present it to the bank when you ask and see if they will take it into consideration, for ??2.50 it can't hurt to try. One other way is if you are thinking of buying a new car, there are many places that will aprove you for a lease or car credit easily even with no credit or bad credit, you may pay a little bit more but it will build up yoru credit rating super quick as they are expensive etc. .

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