Can I get a credit card?

[blackwind]

Hey guys,

I'd like to apply for a credit card, but I've run into a snag. While I'm all but certain this is a lost cause, I figured I'd take a few minutes to ask your advice nonetheless.

Here's a little background:

I need a CC so I can a.) start jumping on the online deals posted here, and b.) establish credit.
I've never been technically "employed", and I'm not a student.
Because I do a lot of odd jobs and rarely spend a dime, I do quite well for my needs. I have far more cash at my disposal than my parents or any of my friends ever do.
Because I have no steady income, I fully intend to pay the card off each month, and I won't be making any purchases I can't afford.
So, hoping they could do something for me, I walked into BMO to apply for their Mosaik MasterCard. Just as I expected, I was told by my banker that, while she *could* put my application through, there's no conceivable way I'd be approved. To have any chance at all, it seems I need to either a.) have prior credit, or b.) provide them with my latest paystub. Quite obviously, neither option is a possibility. While I understand the need for these measures, they sure are a real kick in the balls for someone who knows where to draw the line and is fully capable of policing himself.

Anyway, my question is this:

Is there anything I can do here? Or is it simply 110% impossible for even the most disciplined person to get a CC without a "proper job" or prior credit?

I await your flames. ;)

[Vasyl]

Hey guys,

I'd like to apply for a credit card, but I've run into a snag. While I'm all but certain this is a lost cause, I figured I'd take a few minutes to ask your advice nonetheless.

Here's a little background:

I need a CC so I can a.) start jumping on the online deals posted here, and b.) establish credit.
I've never been technically "employed", and I'm not a student.
Because I do a lot of odd jobs and rarely spend a dime, I do quite well for my needs. I have far more cash at my disposal than my parents or any of my friends ever do.
Because I have no steady income, I fully intend to pay the card off each month, and I won't be making any purchases I can't afford.
So, hoping they could do something for me, I walked into BMO to apply for their Mosaik MasterCard. Just as I expected, I was told by my banker that, while she *could* put my application through, there's no conceivable way I'd be approved. To have any chance at all, it seems I need to either a.) have prior credit, or b.) provide them with my latest paystub. Quite obviously, neither option is a possibility. While I understand the need for these measures, they sure are a real kick in the balls for someone who knows where to draw the line and is fully capable of policing himself.

Anyway, my question is this:

Is there anything I can do here? Or is it simply 110% impossible for even the most disciplined person to get a CC without a "proper job" or prior credit?

I await your flames. ;)


No flames here. Just go to BMO or TD and ask them to provide you with their
"secured credit card". It will establish your credit.

[boyoflondon]

My first card was from CIBC when I was 18 ... while I was still in school, I did work but was getting paid cash so there was no way of checking my income (technically i was unemployed).

Go on CIBC's website and apply for one ... They start you off with a $500 limit, but if you pay your stuff off timely, you can ask for an increase after a few months.

On the other hand, I just got an RBC platinum card even though their application said I must have a min $35k income but somehow I was still pre-approved. I am in univ and still have that same old job that pays cash and still got the card.

If CIBC doesnt work, there is always MBNA. However, you dont wanna go crazy trying to apply for CC's as that goes on your credit and in the future, any institution for who's card you are applying can see what you tried to apply for before and it wont look good as it would make you look 'desperate'.

[dmxlite]

Who do you bank with? Try apply for the most basic card from the same bank you bank with. If it is with BMO, try sending it through anyways, or get a secured card like the others suggested.

[blackwind]

@Vasyl: Secured CC looks like an interesting prospect, but I'm told (by friends down south) that the fees on those are sky-high. Should I expect the same thing here in Canada? As someone who spends next to nothing, I cringe at the thought of recurring fees slowly sapping me down to $0. In fact, I keep $1,500 in my bank account to avoid the bank's fees, and I was planning to signup for the fee-free Bronze Mosaik.

@boyoflondon: I used to bank with CIBC, but after a bad experience with an ex whose mother is a CIBC teller, I promptly cancelled and fled to BMO. As much as I might like to in this situation, I know I shouldn't touch CIBC with a 10-foot pole ever again. As for MBNA, I'll certainly keep that in mind if I don't have any success with BMO. :)

@dmxlite: I'm with BMO. I believe the Bronze Mosaik (the one I wanted) is their most basic card, but the girl said that even that one is a waste of time without a paystub. Based on what boyoflondon was saying, it's probably best to not bother at all if I'm virtually guaranteed a rejection, right?

Any thoughts on lying and saying I'm a student? I'm in the appropriate age bracket, and a low initial limit doesn't concern me in the least -- I just want to get the ball rolling. Do they actually verify student status?

[warlockdilemma]

Try Capital One

http://capitalone.ca/canada/cards/secured.php?linkid=WWW_Z_CCR_Z_CCRCOM_R5_01_G_SECU RE

This is where i started building my crdit history and it did wonders within a year.Just make sure u never miss a payment or go overlimit.

[dmxlite]

... girl said that even that one is a waste of time without a paystub. Based on what boyoflondon was saying, it's probably best to not bother at all if I'm virtually guaranteed a rejection, right?


Depends on what the institution thinks. A person with no previous credit gets rejected doesn't always mean desperate. But it does make them more careful in handing out credit to you.

I bank with RBC, and t I got my credit card without any paystub (I wasn't working at the time). It doesn't hurt to try with the bank. They can see how much assets you have with them, and how long you've been with them. If they object to a regular card, they may offer the secured one.

Any thoughts on lying and saying I'm a student? I'm in the appropriate age bracket, and a low initial limit doesn't concern me in the least -- I just want to get the ball rolling. Do they actually verify student status?

It does show in your credit report that you are a student (assuming it was reported). If you're going to lie, maybe you should make sure first by looking at your file.

[nerd]

Home Trust Visa Ftw

[Vasyl]

@Vasyl: Secured CC looks like an interesting prospect, but I'm told (by friends down south) that the fees on those are sky-high. Should I expect the same thing here in Canada? As someone who spends next to nothing, I cringe at the thought of recurring fees slowly sapping me down to $0. In fact, I keep $1,500 in my bank account to avoid the bank's fees, and I was planning to signup for the fee-free Bronze Mosaik.


Secured CC - it is like a normal card, no fee attached ("secured" card - it is not a "pre-paid" card). However, the bank will require you to lock $1000.00 for 1 year to get a $1000.00 credit. Do not apply on-line (there is no such option). Just go to your bank (preferably, BMO), speak with a loan officer and have your cash handy. You will be able to apply for another card after 6 months.

[blackwind]

They can see how much assets you have with them, and how long you've been with them.
Actually, this is exactly what I suggested to her -- let them look at my track record -- but she claims that BMO protects the privacy of their customers and won't share such information between divisions. "On this end, I can see you're clearly very good with your money, but the person verifying your application won't have access to the bank's records." Seems kinda silly to me, but apparently that's how they operate.

It does show in your credit report that you are a student (assuming it was reported). If you're going to lie, maybe you should make sure first by looking at your file.
Make sure of what, exactly? I'm not sure I understand what you mean. I've never enrolled in a post-secondary institution, so there's no reason I'd be listed as a student. And in the unlikely event that I *am*, all the better, right?

Secured CC - it is like a normal card, no fee attached ("secured" card - it is not a "pre-paid" card).
I'm still a little skeptical of this (even the Capital One link posted above includes a fee), but I guess it won't hurt to ask next time I drop by BMO. I'd definitely like to exhaust all other avenues first before locking my cash in for a year, though.

Any thoughts on lying and saying I'm a student? I'm in the appropriate age bracket, and a low initial limit doesn't concern me in the least -- I just want to get the ball rolling. Do they actually verify student status?
This question was directed at everyone, by the way. I'd love to get a few more opinions, as this is surely the best plan of attack if the risk is low enough.

[aequitas]

if you are not a student, have no prior credit and dont have a steady job i think your only option would be a secured VISA to establish your credit.

[Vasyl]

I'm still a little skeptical of this (even the Capital One link posted above includes a fee), but I guess it won't hurt to ask next time I drop by BMO. I'd definitely like to exhaust all other avenues first before locking my cash in for a year, though.


You are free to do whatever you wish. I would not advice you to lie. A secured CC will establish your credit without much of the hassle. BMO has the option to provide you with a no frills Mosaik MasterCard. No fee. I think it is the best shot in your situation. Good luck.

[lesnar]

Hey guys,

I'd like to apply for a credit card, but I've run into a snag. While I'm all but certain this is a lost cause, I figured I'd take a few minutes to ask your advice nonetheless.

Here's a little background:

I need a CC so I can a.) start jumping on the online deals posted here, and b.) establish credit.
I've never been technically "employed", and I'm not a student.
Because I do a lot of odd jobs and rarely spend a dime, I do quite well for my needs. I have far more cash at my disposal than my parents or any of my friends ever do.
Because I have no steady income, I fully intend to pay the card off each month, and I won't be making any purchases I can't afford.
So, hoping they could do something for me, I walked into BMO to apply for their Mosaik MasterCard. Just as I expected, I was told by my banker that, while she *could* put my application through, there's no conceivable way I'd be approved. To have any chance at all, it seems I need to either a.) have prior credit, or b.) provide them with my latest paystub. Quite obviously, neither option is a possibility. While I understand the need for these measures, they sure are a real kick in the balls for someone who knows where to draw the line and is fully capable of policing himself.

Anyway, my question is this:

Is there anything I can do here? Or is it simply 110% impossible for even the most disciplined person to get a CC without a "proper job" or prior credit?

I await your flames. ;)

Try MBNA, haven't heard anyone being rejected by them yet.

[YnD]

Try MBNA, haven't heard anyone being rejected by them yet.

Second that. Excellent Customer Service and Billing too.