quote:

Originally posted by Mosaic dammit... I want a CC so I can play FFXI

use ur mom's for now ..

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Palm Trees > Pine Trees , Sand > Snow

If you ability to go to an actual branch is a major concern of yours, I'd go with TD-Canada Trust. TD has the longest branch hours of any of the major banks. I think the branch by my place is open to 8pm on weekdays, and I think the branch is even open on Saturdays.

The online banking interface for TD is quite easy to navigate as well. I think the TD online banking site won some award for userability or something a few years ago. That's got to mean something right!

I would suggest you think a bit more about switching from PC because the no fees can save you quite a bit of cash over a long period of time. Although, if you think you'll have no problems maintaining the minimum balance required to waive the service charge while your in university, I'd open an account with a major bank but also add an ING Savings account to it. The interest you earn from major banks is ASS!

quote:

Originally posted by HCP If you ability to go to an actual branch is a major concern of yours, I'd go with TD-Canada Trust. TD has the longest branch hours of any of the major banks. I think the branch by my place is open to 8pm on weekdays, and I think the branch is even open on Saturdays. The online banking interface for TD is quite easy to navigate as well. I think the TD online banking site won some award for userability or something a few years ago. That's got to mean something right! I would suggest you think a bit more about switching from PC because the no fees can save you quite a bit of cash over a long period of time. Although, if you think you'll have no problems maintaining the minimum balance required to waive the service charge while your in university, I'd open an account with a major bank but also add an ING Savings account to it. The interest you earn from major banks is ASS!

I am going to stay with PC for no fees... but I am exploring options for a credit card and a savings account, because I really don't like PC...

Oh, an Desidel, my parents don't use/have any credit cards.

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PCF Pavillions have high turnaround, especially with pt staff...why not just do most stuff by telephone or online banking? The only time I go into my CIBC branch is if I need a bank draft or something (yay for no fees/better rates staff accounts)

PCF is pretty good...can you really beat "no fee" banking AND the PC points program along no fees at CIBC ATMs too?

A line of credit is a GREAT thing to have...if you use it properly...unlike me

Well, since I work for a bank (TD Canada Trust), I'll give you my 2-cents.

If you're looking for customer service and branches, I'd suggest you go with my institution. A number of our branches are open late, Mon-Fri 8 - 8 and Sat 9 - 3...

The benefit of having branches open late and frequently, if you have a problem, it's better to speak with a staff member in person as opposed to some automated telephone operator or ATM?

You're not going to get away from services charges from any bank... Well, I guess PC has the no fee thing but I think the inconvenience of no real branches can be a problem... Also, I believe you can only withdrawl a very limited amount of cash at one time.

For instance, if you needed to certify a cheque, or obtain a money order, you would usually have to go to a branch for that.

And don't get suckered into an ING account or even a SAVINGS account. Only if you plan to keep a LARGE sum of money (>$5000) and never touch it, do I suggest you open that type of account.

You're a student like me, get a chequing account. If you plan on saving anything, open an RRSP instead of a savings account.

My sister works for Scotia but I'm not a big fan of them. They pretty much hold ALL of your deposits... This is not to say other institutions won't but they're pretty anal with customer service. RBC is a bit better, but they can be brutal too. BMO and CIBC, they don't have very good hours.

So, out of the big five, you may want to consider TDCT. And since you're 18, don't expect to get a credit card, you may be a little to young for that... Plus, credit cards aren't the best things to have.

If you plan to get one, use it responsibly and DO NOT carry a balance. The goal is to establish a good credit history, so you'll be able to get a mortgage or personal loan in the future. This also implies you don't write bad cheques or have numerous cheques returned on your account. Also, pay all your bills on time too.

If you need any additional information, pm me or just simply reply. I have been with TDCT for 3 years now

Credit Cards & Lines of Credit: How you qualify for them

This is a question I get a lot at work.

When the bank says you qualify for a credit card or line of credit, this indicates that you:

a) Have a good credit history
b) You have responsible banking habits
c) The particular institution is trying to make money off you

- When you get a VISA for instance, the bank essentially looks at your credit history. Your SIN number is what keeps that record. If you've been working, the government knows because your employer has submitted your SIN (this is also how they tax you!).
- Also, any sort of bills/payments in your name (cell phone bills, parking tickets) are part of your credit history. Provided you have paid them off all on time and aren't late too many times, this won't affect your application significantly.
- A written-off VISA, loan or defaulted payment can essentially ruin you for the rest of your life. Make sure you NEVER have one.
- Responsible banking habits are regular deposits, no bounced or returned cheques, being a customer for a long time etc.
- Banks make money by selling their products to customers. They want you to carry a balance so they make money off the interest. They also share that information with other companies... i.e. If you have a a lot of debt, you'll notice you might receive a lot of credit card offers because they KNOW they'll profit off you.
- So, don't think you have good credit if you get numerous solicitations; basically, you're a sucker.

You must be very responsible with anything that involves credit.

I hope this helps!

quote:

Originally posted by Matt dammit... I want a CC so I can play FFXI

I am also tempted to buy FFXI ... don't know if I'll play it much though

quote:

Originally posted by Chinaman Well, since I work for a bank (TD Canada Trust), I'll give you my 2-cents. If you're looking for customer service and branches, I'd suggest you go with my institution. A number of our branches are open late, Mon-Fri 8 - 8 and Sat 9 - 3... The benefit of having branches open late and frequently, if you have a problem, it's better to speak with a staff member in person as opposed to some automated telephone operator or ATM? You're not going to get away from services charges from any bank... Well, I guess PC has the no fee thing but I think the inconvenience of no real branches can be a problem... Also, I believe you can only withdrawl a very limited amount of cash at one time. For instance, if you needed to certify a cheque, or obtain a money order, you would usually have to go to a branch for that. And don't get suckered into an ING account or even a SAVINGS account. Only if you plan to keep a LARGE sum of money (>$5000) and never touch it, do I suggest you open that type of account. You're a student like me, get a chequing account. If you plan on saving anything, open an RRSP instead of a savings account. My sister works for Scotia but I'm not a big fan of them. They pretty much hold ALL of your deposits... This is not to say other institutions won't but they're pretty anal with customer service. RBC is a bit better, but they can be brutal too. BMO and CIBC, they don't have very good hours. So, out of the big five, you may want to consider TDCT. And since you're 18, don't expect to get a credit card, you may be a little to young for that... Plus, credit cards aren't the best things to have. If you plan to get one, use it responsibly and DO NOT carry a balance. The goal is to establish a good credit history, so you'll be able to get a mortgage or personal loan in the future. This also implies you don't write bad cheques or have numerous cheques returned on your account. Also, pay all your bills on time too. If you need any additional information, pm me or just simply reply. I have been with TDCT for 3 years now

what's ur cost center # .. ??

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Palm Trees > Pine Trees , Sand > Snow

dEsidEL,

My transit# is 375, 2232 Bloor Street West @ Windermere. It's a former Canada Trust that has changed to a "TD Canada Trust"...

Since I have another job now, I think I'm only going to be there once a month... Yes, that's right, ONE Sat / month and this way I keep my staff accounts, discounts and whatever! HA, take that HR!

quote:

Originally posted by malek whatever you do, never ever get a line of credit. And tell them to max your visa/master card to 500$... thats the best advice a full-of-debt guy can give you

Im gonna disagree. If you have self discipline and realize that you cant always spend money that you dont have then you'll be fine. When i applied for another mortgage incase i wanted to buy another place they said to me that im a rate high because im NOT a "debt accumulator".

Having visa, credit lines etc helps you build your credit which will help you when its time for mortgages, loans , business loans, cell phones, financing.

It all depends on you. Go for it.

Ive had great success with RBC over the years. Lets face it, everyone fuks up but your judged on how well you handle it.

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quote:

Originally posted by Chinaman dEsidEL, My transit# is 375, 2232 Bloor Street West @ Windermere. It's a former Canada Trust that has changed to a "TD Canada Trust"... Since I have another job now, I think I'm only going to be there once a month... Yes, that's right, ONE Sat / month and this way I keep my staff accounts, discounts and whatever! HA, take that HR!

wots ur login ID .. ?

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Palm Trees > Pine Trees , Sand > Snow

quote:

Originally posted by HCP I'd open an account with a major bank but also add an ING Savings account to it. The interest you earn from major banks is ASS!

Agreed. I've been managing my finances for over a decade with Royal Bank of Canada, and a few years now with ING Direct. RBC's rate for interest earned is virtually non-existant, while ING's has been as high as 3% (if I'm not mistaken - otherwise, I'm positive of at least 2.75%). I'd suggest just keeping a minimal balance in your regular chequing/savings account and shoving the rest or your income into your ING account. If you've no need to keep a balance of thousands of dollars in your chequing/savings account, why not actually earn something by keeping it where the interest rate is decent?

Ce sont mes 2 sous!

quote:

Originally posted by Chinaman And don't get suckered into an ING account or even a SAVINGS account. Only if you plan to keep a LARGE sum of money (>$5000) and never touch it, do I suggest you open that type of account.

Just out of curiousity, why do you say that?

quote:

My sister works for Scotia but I'm not a big fan of them. They pretty much hold ALL of your deposits...

T'is true. My mother deals with them for certain things (it's not her main bank) and that gets to be a problem at times.

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