Include credit card statements in POF?

[deadbird]

Is it necessary to include credit card statements for Proof of Funds? Is it safe to skip it?

Arguments against including credit card statements:
* I have sufficient balance in my checking account that the credit card balances are a trivial amount.
* I can only get a credit card statement and not an official letter since the credit card company doesn't have any physical offices.
* Invasion of privacy for CIC to know all my personal purchase details.

Arguments for including
* It is mentioned in the checklist page. (http://www.cic.gc.ca/english/resources/tools/perm/express/intake-complete.asp)
* My bank statement shows me paying my credit card balances. So CIC will definitely be aware that I have credit card accounts.

What should I do? Include or not include?

 

[riasat.abir]

Is it necessary to include credit card statements for Proof of Funds? Is it safe to skip it?

Arguments against including credit card statements:
* I have sufficient balance in my checking account that the credit card balances are a trivial amount.
* I can only get a credit card statement and not an official letter since the credit card company doesn't have any physical offices.
* Invasion of privacy for CIC to know all my personal purchase details.

Arguments for including
* It is mentioned in the checklist page. (http://www.cic.gc.ca/english/resources/tools/perm/express/intake-complete.asp)
* My bank statement shows me paying my credit card balances. So CIC will definitely be aware that I have credit card accounts.
What should I do? Include or not include?

You can download your latest credit card statement (pdf) and include it in POF.

 

[shariq123]

If you can get your bank to include in the bank statement letter that you do not owe any balance to the bank on your credit cards, I don't see the need to include the credit card statement in POF.

 

[deadbird]

If you can get your bank to include in the bank statement letter that you do not owe any balance to the bank on your credit cards, I don't see the need to include the credit card statement in POF.

Thanks. Another question ..

Is it necessary to include your bank statement? I have an official letter from them stating my current balance and last 6 month average balance. Do they actually need to see the bank statement with transactions?

 

[shariq123]

Thanks. Another question ..

Is it necessary to include your bank statement? I have an official letter from them stating my current balance and last 6 month average balance. Do they actually need to see the bank statement with transactions?

Yes. They would need to corroborate your official letter with your bank account statement so that the two numbers match. Also you don't want to end up getting a refusal on incomplete application just because you failed to include your bank statement.

 

[deadbird]

Yes. They would need to corroborate your official letter with your bank account statement so that the two numbers match. Also you don't want to end up getting a refusal on incomplete application just because you failed to include your bank statement.

Where does it say that a bank statement is needed? This page only mentions the letter - http://www.cic.gc.ca/english/resources/tools/perm/express/intake-complete.asp#wb-auto-5

Also, how many previous months of bank statements are needed ?

 

[Iampositive]

Where does it say that a bank statement is needed? This page only mentions the letter - http://www.cic.gc.ca/english/resources/tools/perm/express/intake-complete.asp#wb-auto-5

Also, how many previous months of bank statements are needed ?

Hi so did you actually submit your credit card details?

 

[sahilsharma88]

You need to provide the bank statements simply to show whether they have been unusual transaction. As you are aware many people borrow funds from family/friends to meet the limit. CIC wants to have a tab on this. They just need to be sure that funds shown by you are yours and are unencumbered.

 

[all_iz_well]

if your credit card has a zero balance then you can provide, otherwise dont bother.

 

[deadbird]

Hi so did you actually submit your credit card details?

I did include my credit card balance statement and updated my overall POF calculations using the credit card balances as debt. But I did not get a special letter or anything like that from the credit card company.

I figured that this was perhaps an extra 1 hour of work and would give me peace of mind. So it seemed worth it.

 

[Bobbieleigh]

You need to provide the bank statements simply to show whether they have been unusual transaction. As you are aware many people borrow funds from family/friends to meet the limit. CIC wants to have a tab on this. They just need to be sure that funds shown by you are yours and are unencumbered.

If CIC don't ask about bank statement (and they clearly don't) what's the point including it? They can't refuse your application for not including something that was not on your document checklist.
I only included letter stating I have credit card, saving account and current account and 6 months average for each of them.

 

[sahilsharma88]

If CIC don't ask about bank statement (and they clearly don't) what's the point including it? They can't refuse your application for not including something that was not on your document checklist.
I only included letter stating I have credit card, saving account and current account and 6 months average for each of them.

Buddy you're missing the point. They do not want bank statement to check whether you have the funds or not. They need the bank statements to check the source of funds.

So as you have provided the 6 months average balance, you're fine. But majority of banks refuse to isssue such a letter stating 6 months average balance. In that scenario you need to upload the same.

Hope I am clear.

 

[Bobbieleigh]

Buddy you're missing the point. They do not want bank statement to check whether you have the funds or not. They need the bank statements to check the source of funds.

So as you have provided the 6 months average balance, you're fine. But majority of banks refuse to isssue such a letter stating 6 months average balance. In that scenario you need to upload the same.

Hope I am clear.

I'm not missing anything buddy. Deadbird said he/she has a bank letter with current and average 6 months balance. Having that letter you don't need to include any statements unless you want to.