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Getting Visa/Mastercard Debit in Canada

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  • 26-05-2014 6:40pm
    #1
    NewsMeQuick
    Closed Accounts Posts: 643 ✭✭✭


    Hi everyone, I have an account with Scotiabank and I just discovered that they don't have V/M debit cards yet. I can't believe that! I use online shopping a lot and need lots of stuff pronto (from a distance). I just rang BMO and they said they don't do it either, would I like a credit card? No I wouldn't. Is it available anywhere? Does anyone have one?


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    #2
    Faith
    Moderators, Society & Culture Moderators Posts: 30,657 Mod ✭✭✭✭Faith


    You're best to get a credit card because you need to build up a credit rating in Canada, and you can only do that by using credit. So while I can't answer your question, get a credit card as well and pay it off in full each month.


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    #3
    goingitalone
    Registered Users Posts: 691 ✭✭✭goingitalone


    Faith wrote: »
    You're best to get a credit card because you need to build up a credit rating in Canada, and you can only do that by using credit. So while I can't answer your question, get a credit card as well and pay it off in full each month.

    What about prepaid credit cards the rates actually seem decent and just top emm up at a post office


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    #4
    NewsMeQuick
    Closed Accounts Posts: 643 ✭✭✭NewsMeQuick


    I had to sort this out this morning, so I got going and found just three banks here currently offering it:

    http://www.visa.ca/en/personal/new-cards/index.jsp

    As for a credit rating, I hope I don't later regret this but I'm allergic to debt and don't plan on borrowing money for cars/houses. I'm passed the first third of my life avoiding it, I'm adamant to stay this way.


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    #5
    trant
    Registered Users Posts: 324 ✭✭trant


    Both CIBC and TD provide Visa Debit cards which can be used online.
    Hope this helps.


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    #6
    Faith
    Moderators, Society & Culture Moderators Posts: 30,657 Mod ✭✭✭✭Faith


    NewsMeQuick wrote: »
    I had to sort this out this morning, so I got going and found just three banks here currently offering it:

    http://www.visa.ca/en/personal/new-cards/index.jsp

    As for a credit rating, I hope I don't later regret this but I'm allergic to debt and don't plan on borrowing money for cars/houses. I'm passed the first third of my life avoiding it, I'm adamant to stay this way.

    Well, it's probably not such an issue in Ireland if you plan on buying cars/houses with 100% cash, but in Canada it could become an issue if you want to even get a mobile phone contract or rent certain apartments. Many places will request a credit rating and no credit score = a bad credit score in the vendor's eyes.

    This discussion isn't really suited to this forum, but it is something important to bear in mind.


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    #7
    james182
    Registered Users Posts: 39 ✭james182


    Big banks most likely won't issue a credit card to someone with no Canadian credit history or to non residents. What you can do is to get a credit card from a credit union. They are a lot more flexible with issuing their credit cards and you probably can get one if you have a job and stable income.

    Prepaid credit cards are no good- basically you barely benefit from it except for being able to buy stuff online. As was said above TD offers visa debit cards. I couldn't believe it but I purchased some stuff from Amazon with my visa debit and it actually went through


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