Best LOC?

[mm88]

Originally Posted by A Second Daniel

I wouldn't worry about this stuff at all to that extent. You're not going to have significant differences between any of the major banks because they have all received the same government charter to start with, all are heavily regulated by government and the BoC, all own one another via stocks and other forms of equity, and all are run by the same people. At the end of the day, which bank you go with has no significant bearing to get worked up over.

Except when they refuse to advance funds for purposes other than tuition!

[mnbv]

Originally Posted by future_doc

Yes, but they write more than most and apparently, they never raised the rate.

Here's to hoping that doesn't change 10 years from now!

[crete]

Originally Posted by MCATwannabe

TD has sub-par services. No joke.
I went there they wanted to give me prime +1 %, $200K and required a co-signor with 60K/year.
I'm glad they left.


Interestingly, they have started to racially discriminate against people with Iranian background, regardless of whether they are Canadian or not. They have been closing accounts based on "Sanctions for people in Iran", but these people aren't in Iran.
Anyway, I don't like TD.

http://www.cbc.ca/news/canada/toront...counts269.html

Not to hijack this thread - but I don't care what the bank offers me - the fact that this is the ONLY bank shutting down accounts of Iranians in Canada makes me wonder who's account they will just freeze next time. No thanks.

[ScotiabankMedsAdvisorLOC]

Please understand that a student line of credit is completely open and can be paid out and transfered to another financial institution at any time if they offer better rates and conditions.
We value you as a client and we are going to do our best to provide the best service and rates possible.

Originally Posted by mnbv

Ya, most probably. It is quite sneaky of Scotiabank to tout repayment at prime as a selling point, but be unwilling to write that into the contract.

[Doritos]

hey guys Ill need to write a big check on my FIRST day of school so I need to get a LOC as soon as possible, Im wondering if I could just go to the bank I want and ask for a LOC(because people I called were on vacations...) however, they will probably ask me for admissions infos? acceptation letters? I have none... all my papers were sent on internet and Im not even "registered" yet (they register us later)
I received my semester schedule and some infos about vaccination (ON MY EMAIL) but my name is not even on it so I dont see the point of printing those??...?
What to do?

[rmorelan]

Originally Posted by Doritos

hey guys Ill need to write a big check on my FIRST day of school so I need to get a LOC as soon as possible, Im wondering if I could just go to the bank I want and ask for a LOC(because people I called were on vacations...) however, they will probably ask me for admissions infos? acceptation letters? I have none... all my papers were sent on internet and Im not even "registered" yet (they register us later)
I received my semester schedule and some infos about vaccination (ON MY EMAIL) but my name is not even on it so I dont see the point of printing those??...?
What to do?

Your school can provide you a letter mostly likely - where are you going in the fall? That is all the prove you need.

[Cass]

Fantastic thread! I had a quick question. Would a cashback credit card be better (ex: Scotia's momentum infinite visa card with 4% cashback on all eligible gas station and grocery store purchases; 2% cash back on eligible drug store purchases and recurring bill payments; 1% cash back on all other eligible purchases etc)

OR a travel visa credit card (ex: RBC's avion or Scotia's Passport Gold)?

I'm not sure how much travelling I'd do in the first two years of med but from what other people are saying, a travel credit card would benefit in fourth year when we're flying all over the place for interviews? If we get one type of card now, are we able to "switch" over later on?

[crete]

Awesome question! I have the L'earn Scotia Student Visa and I was able to rack up a significant Money-back last year - and it's only 1%!
I am having the same debate. I am leaning towards the Travel Card only because there is full auto insurance coverage and I don't have a car and would like to rent one sometimes to go home etc... It will end up probably saving me some money in the long run.
Moneyback does really work though - such a tough call.

Originally Posted by Cass

Fantastic thread! I had a quick question. Would a cashback credit card be better (ex: Scotia's momentum infinite visa card with 4% cashback on all eligible gas station and grocery store purchases; 2% cash back on eligible drug store purchases and recurring bill payments; 1% cash back on all other eligible purchases etc)

OR a travel visa credit card (ex: RBC's avion or Scotia's Passport Gold)?

I'm not sure how much travelling I'd do in the first two years of med but from what other people are saying, a travel credit card would benefit in fourth year when we're flying all over the place for interviews? If we get one type of card now, are we able to "switch" over later on?

[Cass]

Originally Posted by crete

Awesome question! I have the L'earn Scotia Student Visa and I was able to rack up a significant Money-back last year - and it's only 1%!
I am having the same debate. I am leaning towards the Travel Card only because there is full auto insurance coverage and I don't have a car and would like to rent one sometimes to go home etc... It will end up probably saving me some money in the long run.
Moneyback does really work though - such a tough call.

That's the thing - I don't live far from home and wouldn't mind taking public transportation (more convenient anyways) as I don't have a car. So I'm thinking the cash back might be better...

[zeroNINE]

I ended up picking the Momentum card from Scotia. But I would like to know if we could pick up the Scotia Gold after a couple years as well.

Side benefit, the debit card you get from Scotia is a Scene debit card which means for ever $5 you spend using the card, you get 1 Scene point. Scotia/Scene is partnered with Cineplex Odeon. 1000 Scene points = 1 movie. Just by opening a chequing account with Scotia you get 4000 Scene points = 4 free movies. Of course no fees on the account, free cheques, no fees on either VISA card. So make sure you get that chequing account.