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Credit Card Applications » News » Other » Canadian Credit Cards

Canadian Credit Cards

October 22, 2007
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Applying for Credit Card Is Almost a Must for Immigrants to Canada

Most of us were, as it seemed to us, fairly indignant at the Bank of America policy to provide legal credit card applications to undocumented immigrants working in the country. However, from the point of view of democratic freedoms and civil rights, we appeared to be sadly mistaken.

A country which economy is driven by credit is an alluring place to settle in but is inhospitable for those without at least some little credit history. Canadian government is getting on to the fact that no financial operation, be it a purchase, a car rental or hotel stay, can pass without a credit card and so it has admitted the possibility for immigrants to start their own credit file in the country.

Canada has always welcomed newcomers striving to become Canadian citizens. Realizing the necessity for immigrants to build credit history meeting the requirements of the country's credit card industry, the government has introduced a special secured credit card. Managed wisely, this card can give a good start for one's credit file and grant access to regular Canadian credit cards with competitive rates and profitable reward programs.

Now, what does the Canadian government promise to all those passing customs through Immigration Canada? You are lucky if you have chosen this very country for permanent stay as you are given all the chances to get started. Your previous credit rating does not really matter as long as you show strong determination to repair your credit and build a high credit score in Canada.

Of course, you can't expect to qualify for best rates unsecured credit card products just straight off you land on the shores. Canadian credit card industry has all the reasons to protect itself and the fact that you may be poorly educated concerning credit cards, keeps it from throwing about its basic credit products.

The best option in the situation with an immigrant would be a secured credit card from either Visa or MasterCard that can build a good Canadian credit history. They say it is only a matter of time and responsible credit card use that can make you a full-grown and financially capable Canadian.

A Canadian issued secured credit card is easy and efficient in its use. Carrying all the customer responsibilities and credit benefits of a regular credit card, the secured plastic allows you to establish a favorable credit rating by reporting to credit bureausoperating in Canada - Trans Union and Equifax.

If you are lucky to establish good credit history in Canada, you will be able to deal with more Canadian merchants, apply for unique credit cards, personal loans, auto loans and even home mortgage. If you mischance to get in credit card debt, such services as credit counseling and debt consolidation, are also available to you.

Doesn't all this make the idea of immigrating to Canada and using its financial resources for making your life well-grounded and happy irresistible?

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  • Larry
    With the Virgin / Barclaycard signature offer, there seems to be some consumer deception or maybe even outright fraud goin on.   I decided to jump on this offer..  read all the info on it..  was approved for their platinum card, paid the fee, then was only awarded 10,000 points instead of the advertised 20,000.   When i inquired about the less than advertised bonus points, Barclaycard claims only Signiture Visa cardmembers get the 20,000..  as a platinum cardholder, you don't qualify for that level of bonus, so you get 10k instead.   Well, in their current ongoing promotions, it states plain as day that....    Applicants approved for the Visa Signature or Platinum Card with $49 annual fee will receive 20,000 Bonus Points awarded to your Virgin America Rewards Account at the close of the first billing statement in which you make your first purchase or balance transfer (that is not returned or rescinded) and have paid the Annual Fee on the account (and such fee is not rescinded). They don't mention anything about a separate program for platinum cardholders..  However, trying to get someone to resolve this issue with either Virgin or Barclaycard seems to be rather impossible.. Seems to me they're simply drawing people in with the fraudulent offer, then simply saying, oh, we're sorry you don't qualify..  but thanks for signing up for our garbage credit card with insane fees..   
  • CreditLandCom
    Thank you for sharing your experience with us. We have reviewed this offer and you are correct, nowhere it is mentioned that 20,000 Bonus can become a 10,000 Bonus all of a sudden... We will mention this in our review of this card so others can make an informed decision. Another way to get Virgin miles is to get an American Express charge card: The Business Gold Rewards Card® now offers 50,000 Miles, though you do have to spend $5,000 in the first three months of card membership to get it. It also has $0 introductory annual fee for the first year, then $175. http://www.credit-land.com/details/the-business-gold-rewards-card-from-american-express-open.php Premier Rewards Gold Card now offers 25,000 Miles, though you do have to spend $2,000 during your first three months of Card membership. It also has annual fee of $0 for the first year, then $175. http://www.credit-land.com/details/american-express-premier-rewards-gold-card.php While we do not know If any of these offers make sense to you, we are at least sure that you will get advertised bonus in full if you decide to get them... Conversion rates for Virgin America are: 100 Elevate Points = 200 Membership Rewards® Points All the best.
  • Deborah Ellsworth
     would very much like to start a new credit history  by making payments on time I would tohave a credit card that is NOT PREPAYID! I don't need a card with a high limit just something to start a new credit history. Thank You Deborah Ellsworth
  • Deborah Ellsworth
    I would very much like to start a new credit line to get back on track. I DO NOT WANT A PREPAID CARD!! This new credit card if I am approved does not have to hace a high limit just something for me to start over again and prove myself ThankYou. D Ellsworth
  • Miss Edna
    there is a huge problem with the RFIP chip: it is easily compromised. There are already 'readers' in the form of what looks like a cellphone in a case, that scans all the info in the chip by merely walking near a person -- this 'reader' penetrates leather, cloth, spandex, etc. The only thing it will NOT penetrate is METAL. Perhaps one has seen commercials touting metal credit card cases. Here is my hint for a free fix: cut a piece of aluminum foil or use the foil that is used to keep foods fresh, like coffee. Cut it so that when folded once, it forms a sleeve for your credit card. place the credit card in the sleeve, then place the sleeve in your wallet.
  • Robin Parks
    I am looking to apply for the AARP Visa signature card from Chase that offers $100 after spend $500 in first 3 months, no annual fee and 0% interest first year; I don't want to mail in offer because of having to write in Social security #. Can you direct me to the proper on-line site?
  • CreditLandCom
    The Chase bank cards are not currently available at Credit-Land.com, but you can consider applying for the Citi® Dividend Platinum Select® Visa® Card - $100 Cash Back. The cards has similar terms and cash back program.
  • Becky
    This is Becky Now what do I do just waqit for acard to come to me?
  • CreditLandCom
    Once you have applied, you should receive a letter within 10 business days letting you know if you were approved and when your card will arrive. If you did not receive any letter or notification from the issuer, you should contact them directly. Also, you should contact the issuer if you’ve been waiting for your credit card longer than 30 days. Since we are not a bank and don’t issue credit cards, we cannot give you any information about your application or credit card.
  • SavingStar
    Thank you for posting about SavingStar. Just to clarify one sentence in your article, we have over 5 million members (not 500). Thanks, Josh
  • CreditLandCom
    Sorry for the misprint. We’ve corrected the sentence. Thank you for noticing that.
  • Eric
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