A Major bank keeps calling me, begging me to accept their CC

[Newbieinvestor]

I have an account with them.

Now I get the constant calls.

CC experts, what is going on? Should I take their 10k or just avoid them?

[duner]

It really depends on if you need the credit or not and how good of a deal it is.

I got these calls as well and I didn't need credit. Also, when I questioned them about what they were offering, it wasn't a good deal at all, so I actually told them to put me on their "do not call list" and haven't heard from them since.

[angel_wing0]

i hate it when they do that. I will call when I want/need it.

Put them on your "donotcall" list.

[Newbieinvestor]

i hate it when they do that. I will call when I want/need it.

Put them on your "donotcall" list.

so I shouldn't take their 10k/no check offer?

[ji_hyun_jun]

^well do you need it?

[Newbieinvestor]

^well do you need it?

No, but a major credit crunch might be coming from the US, soon.

[angel_wing0]

so I shouldn't take their 10k/no check offer?

0% interest balance transfer?

[angel_wing0]

Yes, but low rates for only 6 months.

then no way.

[Newbieinvestor]

0% interest balance transfer?
Yes, but low rates for only 6 months.

[nobody1234]

Yes, but low rates for only 6 months.

Low rates, or 0%? Any fee for cash advance, etc?
If it's worth your trouble you could take the cash advance, stick it in a high interest savings account and then pay it off. You'd get a couple hundred bucks or so in interest (before tax) depending on your credit limit. You'd have to decide if it's worth your time.

[boyoflondon]

When you need it, you call them .. not the other way around!!

You, yourself know exactly what you need from a CC. What banks want is just to sell you on a card that most likely does not suit your needs.

I assume this is from TD? They are notorious for having a pushy sales strategy ... they'll try to sell you on every corner.

[onomatopoeia]

I'd assume Scotiabank, as I get the same call every month myself.

My RRSP through work is done with scotia mcleod. As soon as I hit above 10,000 a few years ago in it they started calling, like clockwork, every month.

Not pushy at all just "Hi, You've been pre-approved for 10k credit card, no credit check required, want us to send it out?" A polite "no" and they say "ok then, thanks!"


I also now get the RBC (my main B&M bank) "courtesy call" asking if they can do anything for me...usually about a week after I get my scotiabank call.

[Johnny Walker]

I'd assume Scotiabank, as I get the same call every month myself.

My RRSP through work is done with scotia mcleod. As soon as I hit above 10,000 a few years ago in it they started calling, like clockwork, every month.

Not pushy at all just "Hi, You've been pre-approved for 10k credit card, no credit check required, want us to send it out?" A polite "no" and they say "ok then, thanks!"


I also now get the RBC (my main B&M bank) "courtesy call" asking if they can do anything for me...usually about a week after I get my scotiabank call.

I am pretty sure that CC contracts say something like if there is any dispute between you and the issuer of the card, the issuer can grab the funds in any other account you have with them. So basically Scotia has zero credit risk - you don't pay the balance on your CC (could be some kind of error on someone's part, or you are victim of CC fraud), they grab your RRSP and hold it for ransom while you try to resolve the situation.

I never have and never will get a CC with a bank where I have any other kind of account

[angel_wing0]

When you need it, you call them .. not the other way around!!

nicely said.

[AllWheelDrift]

I am pretty sure that CC contracts say something like if there is any dispute between you and the issuer of the card, the issuer can grab the funds in any other account you have with them. So basically Scotia has zero credit risk - you don't pay the balance on your CC (could be some kind of error on someone's part, or you are victim of CC fraud), they grab your RRSP and hold it for ransom while you try to resolve the situation.

I never have and never will get a CC with a bank where I have any other kind of account
RRSP accounts are protected from creditors, so there's no way they could legally grab funds from an RRSP account.

[VivienM]

I say take it, unless there's an annual fee...

Worst case scenario: spend $10 every few months on the card, and just let it sit there, lowering your credit utilization and increasing your credit score. :)