BMO mosaic. For around $100/year, you get a 10% interest rate and airmiles. I've had mine since 2000 (first year of university) and they treat you well.
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BMO mosaic. For around $100/year, you get a 10% interest rate and airmiles. I've had mine since 2000 (first year of university) and they treat you well.
Original Post NAZI Moderated
Originally posted by r3cc0s
Felon or Mistermeiner
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MBNA is pretty good, I got two cards through them last year, each with only a $500 limit, limits have pretty much tripled on both cards in the year I've had them., so don't worry about low limits, they go up pretty fast.
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Just about any major bank will give you a credit card with a 500 dollar limit with your income as long as you don't have collections or anything like that.
Your limit not only depends on your beacon score, but it's also reliant on the credit you currently have. So if you make $13k a year and have a credit card that has a $4000 limit it'll affect what you'll get offered if you apply for another CC.
There's pros and cons to each card type...the petro-points card gives you the 2c a litre but that's about it.
The best part about the BMO card is you can view your history online before you get your statement even if you don't bank with BMO regularly - you also get the SPC rewards built into the card. IMO the TD Visa is better rewards-wise - TD also gives you the option to request a certain credit limit on your card - if they can't give you what you want they'll get as close to it as they can. For me, TD gave me a higher limit than BMO and it has better rewards so I went with it and then I also have an ATB rewards M/C that has 2.5x the credit limit of my Visa...I spend a lot of money on my CC because I like shopping on eBay so I like having two cards incase I max out my TD one or if I go to Timmy's and wanna pay using a CC because apparently they don't like Visa.
Last edited by oilerfan4lyfe; 10-15-2007 at 03:15 PM.
Banned
Hmmm I applied for two cards... the petro one for GAS strickly!!!
and BMO for daily purchases, and I ain't going to buy what I can't pay... that's how you get into debt and become FUCKED for life... lol
So that's my plan... I may cancel one too.
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When i got my credit card, i applied at RBC and had instant approval for a 5000$ limit (and i had no credit history). I'd say check them out as it was a good bet for me.
Banned
WHAT!!! LOL how much did u make though? lol that's insane dude... and I would never spend 5k worth of stuff especially if I couldn't pay it.Originally posted by BARNSEY
When i got my credit card, i applied at RBC and had instant approval for a 5000$ limit (and i had no credit history). I'd say check them out as it was a good bet for me.
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At the time, i cleared 2k a cheque, so it wasn't that great of money, but it wasn't too bad. I actually waited like a month before i got my card, then went in about 2 weeks before i started college, told them about it and they said "oh well, ive been approved already, just be careful". Heh. But RBC has a student plan, i think the limit is 300$...definitely worth a shot.
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i got denied for pc mc and petro mc
wat are my options?
wh...?
Banned
i applied the day after my 18th birthday for one of RBC's visas and got instantly approved for a $5000 visa as well. my income is not the average income of any 18 year old though so that explains it for me.Originally posted by BARNSEY
When i got my credit card, i applied at RBC and had instant approval for a 5000$ limit (and i had no credit history). I'd say check them out as it was a good bet for me.
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RBC is probably the easiest and the best.
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I use PC financial master card that offers PC point accumlation, especially if you shop alot at superstore. The card now is also a easy-pass where ever it is available you just swipe and go.
I use this card as my main source, I have a classic scotia visa which is nice because of a 2% minimum payment instead of your average 3% on most cards. now this is great when your in debt then again it is better to be out of debt. haha but you never know.
I also had AE with air miles which I cancelled last year (that was stupid of me) you actually lose credit rating for closing account.
I have TD emerald because of low interest rate, then again it has annual fee so I changed to a TD gold for travel/rental conviences.
I like TD credit cards because now they act like a line of credit fund where I can move my funds around in my account.
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since you are a student, apply to the student cards. no annual fee but low limit. it's a start. i remember when i first hit university they had phamphlets to apply for credit cards. the tip for those is that they have 3 credit cards to apply for in there. only apply for one, if you apply for more than one they'll reject it. don't know if they still have this or not, it's been a few years.
building credit and maintaining your credit rating is not about paying off your card every month. it's about never missing your minimum payment. GL
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I started with a great student visa card from royal bank.
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did you applied online or thru the teller? cuz im planning on getting one.....Originally posted by BARNSEY
At the time, i cleared 2k a cheque, so it wasn't that great of money, but it wasn't too bad. I actually waited like a month before i got my card, then went in about 2 weeks before i started college, told them about it and they said "oh well, ive been approved already, just be careful". Heh. But RBC has a student plan, i think the limit is 300$...definitely worth a shot.
and do you guys think they will give me one.... i always deposit 2g every 2 weeks and take out all of them after 2 days hahhah
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You can apply at the teller?? Sweet...
I called BMO today and it's most likely I got accepted. but not sure yet... he said 3-5 business day for an answer.
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I got a CIBC Student Visa and got accepted . Starting limit was $500.
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Dude, don't fire off credit card applications like college applications. It will hurt you for years to come!
If you have no credit history and get reject from TD and the likes, and since you're a student, get a student card first with low limit to build your credit. Another option is a secured card where you have to lock cash in same amount as the credit limit.
Once you've done that for a few years, check your score before going for another card.
DO NOT go for award cards right off the bet, very likely you'll be denied. PC Financial card always turn down noobs.
Starting out, make sure you can pay off every bill and not just minimum payment. That's the mistake most people make and end up paying $500 for a $100 item over years of 19% interest.
Treat is as a convenience payment system and not a line of credit. If you want to borrow money, get a credit line start up @ prime + 2-3%. That usually end up as 8 to 9% and not the 19% that credit card charges.
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How the fuck do you get turned by any bank if you're pulling in $1300/month? And you want to get a card just to buy a laptop? Just go buy one right away, good laptops can be easily had for ~$700.
Back when I was in school, I was making like $11,000/year and was approved for $5,000 without even asking for a limit that high.
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Let's say you get one of those secured cards and you put down $500, when will you get it back?
I'm 18 and once I turn 19 I will be in need of one also. Fucking age requirement for BC: 19.
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I started off in university with the RBC student Visa and the BMO Mosaik. I still have the Mosaik, but now have the PC Financial and RBC Avion Platinum card.
I would highly recommend going with the PC Financial Mastercard. There are no annual fees and as long as you pay your bill every month, interest rates should be fine. You collect pc points easily and you can use it at superstore which has pretty much everything.
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