Query regarding credit card-proof of funds

[Ashraf739]

Hi,

I am new to this forum. I have been reading this forum for some time and it has been quite helpful in answering a lot of my queries. However there is one query which I wanted to share over here for your opinion.

I am from Bangladesh and applying for express entry along with my wife where I will be main applicant. I am maintaining bank balance of around CAD 18,500 over last six months which should meet proof of funds requirements (required funds for a couple is around CAD 16,000). I will be submitting my 6 months bank statement from salary account as supporting evidence along with a bank balance certificate for the salary account. Problem is I have a credit card, repayment of which is done through salary account and is reflected in this statement. The limit of this credit card is CAD 7,700. However I do not use the card that much and balance (outstanding) is only around CAD 300. This has been the case throughout the 6 months period. I am concerned that Immigration Officer would deduct limit of the credit card instead of the outstanding (balance) from my bank balance to determine my eligibility under proof of funds. Therefore I am planning to submit a certificate from my bank mentioning limit and outstanding of my credit card along with confirmation that the credit card is not having any overdue, and then also explain the information in a LOE (that my credit card outstanding is very low as compared to limit) to convince Immigration Officer to consider my credit card balance (outstanding) instead of credit card limit for assessing eligibility under proof of funds requirement.

Requesting your review and opinion on the above situation and my plan.

 

[Holyange]

Hi,

I am new to this forum. I have been reading this forum for some time and it has been quite helpful in answering a lot of my queries. However there is one query which I wanted to share over here for your opinion.

I am from Bangladesh and applying for express entry along with my wife where I will be main applicant. I am maintaining bank balance of around CAD 18,500 over last six months which should meet proof of funds requirements (required funds for a couple is around CAD 16,000). I will be submitting my 6 months bank statement from salary account as supporting evidence along with a bank balance certificate for the salary account. Problem is I have a credit card, repayment of which is done through salary account and is reflected in this statement. The limit of this credit card is CAD 7,700. However I do not use the card that much and balance (outstanding) is only around CAD 300. This has been the case throughout the 6 months period. I am concerned that Immigration Officer would deduct limit of the credit card instead of the outstanding (balance) from my bank balance to determine my eligibility under proof of funds. Therefore I am planning to submit a certificate from my bank mentioning limit and outstanding of my credit card along with confirmation that the credit card is not having any overdue, and then also explain the information in a LOE (that my credit card outstanding is very low as compared to limit) to convince Immigration Officer to consider my credit card balance (outstanding) instead of credit card limit for assessing eligibility under proof of funds requirement.

Requesting your review and opinion on the above situation and my plan.

When I applied , I added my credit card statement to my application because my bank did not mention it on the Bank letter. I explained in my LOE letter that my bank letter did not meet the requirements of IRCC that is why I was adding my credit card statement, so I think adding everything you want to your application that may clear any confusion in the officer’s mind is always good. I also added my 6 month bank statement as well.

 

[mbaleine]

Debt = outstanding balance != credit limit

Credit limit is not debt. You don’t incur debt for what you have not borrowed. I don’t see why they would deduct credit limit instead of the amount of actual debt. I think you’re overthinking it.