Credit Card Approval

[spyfy]

Hi spyfy - i beg to differ on this. I didn't have to deposit anything to get the $2000 credit limit. I didnt have a job oor credit history when i applied for a credit card. At Scotiabank, they said i couldve got higher credit limit if i had income but for $2000 credit limit i did not put in any security or deposit. I landed in October 2017.

Yeah I know that sometimes you get it without the deposit. That's why I talked about "most cases". I'm basing this just on my anecdotal evidence in the sense that I have heard of more people who had to make a deposit than of those who didn't.

 

[APPNOV2014NY]

Note that in most cases, as a newcomer, you have to deposit a security, i.e. you will only get a certain credit limit if you deposit cash (in the thousands) into a special account until you have some credit history.

Recently banks have started giving unsecured credit cards to new immigrants.

 

[pie_vancouver]

Yes, just ask for the NEWCOMER package.
http://www.scotiabank.com/ca/en/0,,2468,00.html
http://www.rbc.com/newcomers/
https://newcomer.cibc.com/cibc-welcome-to-canada-banking-package
https://www.tdcanadatrust.com/planning/life-events/new-to-canada/index.jsp