Credit card for noobs

[reqle55]

I dunno if this has been posted or not, my search page keeps crashing on me!

But i'm looking for a credit card that has low if not No fees, low interest rates and maybe with good rewards...!

I'm a student, never had a cc b4...and plan to purchase less than 1000 a year with the cc....can anyone help...????

[Mentos]

http://web.ncf.ca/be960/reviews/creditcard.html

[Skidz]

http://www3.bmo.com/mosaik?ACTI18.4% $0 annual fee or 12.9% on purchases and 7.9% on cash advances for $15 annually :D

[GateGuardian]

I find the HBC rewards CC pretty good.

I also have the <a href=../autolink/redirectpage.php?linkid=78 target=_blank>ebay</a> card, which is awsome for people who use <a href=../autolink/redirectpage.php?linkid=78 target=_blank>ebay</a> frequently...

[gilboman]

Capital ONe platinum

no annual fee
purchase protection/extended warranty
car rental collison insurance coverage
travel accident insurance
etc...
5.99% on purchases

[champ91]

i believe there is a thread created to evaluate all the major/best credit cards in canada.

[NDman]

i believe there is a thread created to evaluate all the major/best credit cards in canada.

which was quoted by Mentos already. Canrocks made the article and it was incorporated in the discussion. It has pretty much all you need to know about CC's

[guest10586]

Don't go with Royal Bank. They make you pay fees to use net banking...

[simms]

Children, you all don't read. I'm a student too. You don't qualify for any of those cards.

The only few options you have are the Student TD visa card (or Student GM card), RBC VISA Student, or PC Financial Mastercard (THE BEST! Because it gives you cash back)

As well as pretty much any MBNA card will be student.

Enjoy. your university campus will have MBNA (most likely) willing to sign you up.

[peterbrowne]

IF you have no credit (no cc's ever, no loans ever, no car lease, no collections, basially only pay cash or interac) THEN go with home trust. http://hometrust.ca.

[GateGuardian]

so what if you're a student? I'm a student too, and I was able to get a TD GM card, Citi Sony Card, AND <a href=../autolink/redirectpage.php?linkid=78 target=_blank>Ebay</a> card too...

[chopstickhero]

get a bunch of cards with no annual fee ...... then cut all but one up. those will never be used, but it's good to have a few credit cards to build some credit and a reputable rating. since the ones you cut up won't be used, you don't have to worry about them.

[simms]

so what if you're a student? I'm a student too, and I was able to get a TD GM card, Citi Sony Card, AND <a href=../autolink/redirectpage.php?linkid=78 target=_blank>Ebay</a> card too...

He has NO credit. You and I at least have some credit. I have a TD GM card as well, but for starters he'll have to settle for MC for now, and then build up to a VISA.

It also depends on your income as well.. that's usually the factor preventing students from getting other cards.

[crimsona]

I also started off with ZERO credit, having come from Hong Kong and everything. Student, zero income.

I got the MBNA <a href=../autolink/redirectpage.php?linkid=78 target=_blank>Ebay</a> card on the first try, $1k limit

[GateGuardian]

Actually when i got my TD GM card, I had never worked a day in my life. Then when I my first job, it was much easier to get other cards.

and besides the question asks, is your household income over $35,000. And since i was still living with my parents. Of course our household income was over $35,000.

[chopstickhero]

you don't need credit to get starter cards. I got my TD GM Visa card (useless card cuz i'm never going to buy a GM car) when i was in high school... i think grade 11, so i was 16.

[simms]

Actually when i got my TD GM card, I had never worked a day in my life. Then when I my first job, it was much easier to get other cards.

and besides the question asks, is your household income over $35,000. And since i was still living with my parents. Of course our household income was over $35,000.

Pretty sure that asks if YOUR income is over 35000. Or else that card should be in the name of your parents. I wonder what creditors will say when they check your report when you ask for student loans or a mortgage...

I have TD GM for STUDENTS. Which one do you have - the regular one or for students?

Anyways, MBNA = guaranteed CC.

[simms]

you don't need credit to get starter cards. I got my TD GM Visa card (useless card cuz i'm never going to buy a GM car) when i was in high school... i think grade 11, so i was 16.

Your parents cosigned you, that's why. Your parents took you on as a liability to get you your starter card.

How come no one knows about credit???

[reqle55]

Hey thanx all...the posts are really helping me clearify things about cc's!!!
looks like i might go with either 3....

mbna or bmo or pc!

thanks again!!!!!!!

[felix]

The most popular no fee cc here is still PCF. Everyone needs to buy groceries! (or stuff from Sears)

[tip]

I got a credit card at 18 with no credit at all. It was the CIBC Dividend. A few months later, the PCF card came, no problems. None of this student card nonsense.

[simms]

I got a credit card at 18 with no credit at all. It was the CIBC Dividend. A few months later, the PCF card came, no problems. None of this student card nonsense.

*shakes head in shame and walks away from this thread*

http://cibc.com/ca/visa/index.html

# No annual fee
# 19.5% current regular annual interest rate
# Free additional cards (limit 3)
# $15,000 minimum annual household income

So as long as you're making 15K a year you're fine. Highly doubt it as a student though. In that case you probably put down your parents income, or they cosigned for you.

[chopstickhero]

Your parents cosigned you, that's why. Your parents took you on as a liability to get you your starter card.

How come no one knows about credit???


nope, they didn't... i got this on my own. my parents were surprised when i showed it to them.

[confused]

I tried for the MBNA cc's online, seems none of the online application sites actually work, always get an error

[manixc]

I'm an university student too. Currently I have three cards. One MC from BMO, one Visa from CIBC and one MC from MBNA. I used the one from BMO the most, occationally the CIBC Visa. Never used the MBNA one. Both BMO and CIBC have a website for easy and quick online management. I dont think there's one for MBNA.

If you have applied for student loan, just put that as your income. If not, just put a small amount of income and say it's from your parent/scholarship/grant/etc.

MC starts at $1000 limits and Visa starts at $500. It's the CIBC Classic

[divx]

Visa starts at $500


royal bank visa starts at 1k, i upped to 1.5k


it's only couple bucks a month for service fees, i'd go for PC mastercard but their service sux, their head office is in toronto and I can't speak to a person in where i live. talking to a machine is too difficult and I don't need that kind of hassle when I work at eng job.

[simms]

PC MC actually raised my limit from 1K to 3.5K without my asking. Oh well, I don't put more than around 6-800 on the card a month anyways.

[Hellfire]

PC MC actually raised my limit from 1K to 3.5K without my asking. Oh well, I don't put more than around 6-800 on the card a month anyways.

Yea my PC MC does that to me too. Cept itz $500 - $1000 increases every 6 months. It pisses me off, because when I actually want an increase to xxxxx amount, they says sorry, we already did an increase x months ago, and we can only do it every 6 months.

[tip]

*shakes head in shame and walks away from this thread*

http://cibc.com/ca/visa/index.html

# No annual fee
# 19.5% current regular annual interest rate
# Free additional cards (limit 3)
# $15,000 minimum annual household income

So as long as you're making 15K a year you're fine. Highly doubt it as a student though. In that case you probably put down your parents income, or they cosigned for you.

Nope. It was in my name only, my parents did not co-sign. I put my employment down as a summer job of $2000. They gave me a regular card anyway. So did PCF.