Proof of fund; Credit Cards

[arash0a]

Hi friends,

Do we need submit Credit Card statements for the last six months or a bank letter showing the outstanding balance should suffice?

 

[Sidney.Bae]

I don't think so.

Save yourself some trouble.

 

[RKCK]

Hi friends,

Do we need submit Credit Card statements for the last six months or a bank letter showing the outstanding balance should suffice?

Not required at all.

 

[arash0a]

But in application guideline it's been stated that "lists all current bank and investment accounts as well as outstanding debts, such as credit card debts and loans "

 

[nshakelly]

But in application guideline it's been stated that "lists all current bank and investment accounts as well as outstanding debts, such as credit card debts and loans "

There is no harm in providing the statements of credit card.

Its always better to be consistent as you would be providing statements of your checking and savings accounts.

Also make sure each statement is stamped by the bank seal..All the best mate...

 

[varun22]

There is no harm in providing the statements of credit card.

Its always better to be consistent as you would be providing statements of your checking and savings accounts.

Also make sure each statement is stamped by the bank seal..All the best mate...

If your statements are good and doesn't affect your total required funds, its good to provide statements.

Otherwise, you can leave it as well.

 

[JoacRy]

CIC are looking at 2 things with regards to POF:

1) Your Net Cash Assets (Total Cash Assets-Total Cash Liabilities)

2) That the Funds belong to 'You' and are not 'Borrowed' funds

Your question relates to point (1). Hence if you don't declare any credit card liabilities you may have they will not be able to determine if you satisfy POF requirements.

Hope this helps.

 

[varun22]

CIC are looking at 2 things with regards to POF:

1) Your Net Cash Assets (Total Cash Assets-Total Cash Liabilities)

2) That the Funds belong to 'You' and are not 'Borrowed' funds

Your question relates to point (1). Hence if you don't declare any credit card liabilities you may have they will not be able to determine if you satisfy POF requirements.

Hope this helps.

I don't think its mandatory to declare credit card liabilities, if you have required funds in your account for more than 6 months.
CIC just want to make sure that you haven't borrowed money from someone for Proof of Funds.

I haven't declared my home loan, personal loans and credit card statements and before doing so, I confirmed with multiple senior members including Asivad.
I have funds in my account for more than a year as fixed deposits and that should leave no doubt in VO mind.

 

[JoacRy]

Agree with varun22 as well. I provided my CC statements dating back 6/months, and used salary slips and a signed gift deed to show all funds in my account were mine alone. The choice is yours.