Application for credit card

[newincanada]

Hi, do you know in what period of time the banks here will approve my application for credit card. Because I am newcomer they told me that I have to wait at least 1 year. And what will I do meanwhile? Is that true?

[Vera]

I had the same problem. This is because you have no credit history and the banks need more time to see that you are paying your bills on time and have no late charges. I went to CIBC and they gave me Secure credit card which means that I have a deposit there for $500 and my credit limit is for $500. It's not the best deal but for starters it works especially if you need it for small online transactions. After one year and or if you start working they will start sending you pre-approved applications... :)
Nothing to worry about.

[April]

Yes, they definitely will!

I get offers every second month to increase my limit, even though they know I couldn't afford to pay it back if I accepted.

Just watch out you don't take every deal the bank offers you with credit cards :)

[Tsveta]

Hi, do you know in what period of time the banks here will approve my application for credit card. Because I am newcomer they told me that I have to wait at least 1 year. And what will I do meanwhile? Is that true?

Hi newincanada, did you get a credit card? Here is a web site with info about the major Canadian banks and financial institutions and maybe will help you find the card you need.
http://www.creditcardreview.ca/

Good luck

[lowlight22]

Especially take note of fees and charges and interest rates, and how quick you have to pay back the money before getting slugged with extra fees.

It is all in the fine print, so take note! :)