I am living in the United States for the time being. In a few days I will have copies of my permanent residence application. Will this be enough to apply for a credit card at bank on my next trip up north?
I'd like to start building credit as soon as possible.
Posted Dec 4, 2018, 10:31 PM UTC
Your PR application means nothing.
You would not be approved or meet the requirements until you have your actual visa / PR card.
Even at that, some credit card institutions have other residency / employment requirements. You may only be eligible for low reward / safe limit CC's aimed at newcomers at first.
Source: Was a temporary resident. Now a PR.
You will have copies of your PR APPLICATION? Like the completed forms you sent to CIC? Or do you mean an APPROVED PR application and the initial paperwork before you get your PR card? Because the time between applying and being approved, assuming it even happens, can be years.
Copies of completed forms to the CIC. We are in the final stages of putting the application together and it will be sent off soon.
Oh so you are only doing the application? You are nowhere close to PR status.
Wait till you land. Many banks have newcomer packages where you get bank accounts and a credit card.
Exactly. That’s why I asked for clarification. OP is likely several years away from PR, if they’re even approved at all. They won’t need a Canadian credit history for a very long time, because they won’t be living in Canada for quite a while.
There’s some kinds of rapid approval for work visas for very specific fields, depending on the province, if only he’s got a job offer and his employer is handling his work visa. But if he didn’t mention that, I’m assuming that’s not happening.
I'm being sponsored by my spouse, so it doesn't really apply. The longest it will take is 12 months. But the average is less than that. I want start the credit file earlier so I can eventually buy a house and also take advantage of airline bonus point programs.
No you can't apply until your residence of Canada. Best thing to do is to get an Amex in the US and they'll open you one in Canada once you're a resident.
You can apply for a secured card. An unsecured card requires a credit file (Equifax/Transunion etc), which requires a SIN.
My wife opened a bank account and credit card with TD while visiting Canada. No permanent residence, no work visa, no SIN. It was a secured card, though. If you have the means to leave a security deposit for a secured card, that should be an option for you. But they may still require that you have a Canadian address to put on file, though. And, that will do nothing for you as far as building credit. You do need the SIN for that.
I see! Is there any way that a SIN number could be attached to the card once I am a PR? and have all of those payments reported to the credit bureau's? (I know you probably don't know the answer, but I thought I'd ask anyways)
I imagine that you just contact the lender to update SIN number on existing account, or provide it on any new applications. Don't know for sure what the process is as we're still waiting for her PR. But I would expect any active accounts to begin reporting to the credit bureaus once they have the new SIN on file, it's doubtful that any history prior to that point would show up, I think.
If you apply a month later, would it make any difference? You can get a credit card before sin number based on your landing paper COPR. While opening your bank account they will ask you if you would like a credit card and usually give you a $1500 limit credit card ( saw at TD and scotia when my friend migrated ) But a month here or there doesn’t make that big difference in credit history. If get one after job than you can qualify to get a better one. this is why saying.
Sorry I should have been more specific.
I will be apply Outland and will not be living in Canada while my application is being processed. It will be a minimum of 6 months and a maximum of a year for my application to be processed.
Usually one needs a work permit/study permit/ p.r to apply for credit card. Just on basis of you applying for a p.r, i don’t think a bank or financial institution will give you a credit card as it is too risky for them. You can try but i have never come across this and therefore cant tell you for sure. IMHO wait till you get p.r and than will get it easily. Good luck with your application :-)