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http://www.hometrust...securedvisa.asp
Any Prepaid Credit Cards Available?
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MultiQuote#2 Danaos
Posted 22 February 2005 - 11:41 AM
AzmodieN...I remember when I was 19 and got my first credit card and thought I was on top of the world. Four years later I owed over $20,000 in credit card debt and lines of credit which I took out in order to pay the credit card debt due to high interest. Now, thank god, I no longer use the plastic and opt for cash as I realized the hell I put myself through for about 6 years.I suggest that yes you should get a credit card (regular or prepaid) but be very careful. The debt accumulates fast and so does the compound interest rate. Next thing you know, you will be in total shock.If you want to start up some credit maybe you should get a gas card or department store card but use it specifically for building up your credit. When you use these cards make sure the second after you make a purchase that you pay off the exact amount. Don't even wait for the bill. In this way you will definately gain some good points on your credit history and will avoid paying the 28%+ interest for using money that is not yours. If you are no good with finances, the plastic will ruin your life. Start saving towards a specific item that it is you need instead of opting for the plastic.Society has taught us about the false sense of "Instant Gratification" by becoming needy and in the end society has become obese, in debt, depressed and a so much more. Do yourself a favour, learn to save cash, keep yourself stress free and help out the economy at the same time by not plunging into debt.Good Luck!!!
#3 AzmodieN
Posted 22 February 2005 - 12:04 PM
hometrust is not an option. They need a minimum of $1000 for a secured card. That is rediculous.
#4 Alv
Posted 22 February 2005 - 01:02 PM
Wow! has it gotten that stringent?!! Only a few years ago even a 5yr could get a card. Of course the bank totally fk'd up with its snail mail spam.Seriously tho. I remember getting my first CC at 19 (15yrs ago). I think I had to get my boss to co-sign. No problems. Credit limit was only $1000, which was fine cuz that's all my monthly net pay was in 1990. God that seemed like a lot at time esp. coming from a PT grocery job in high school.I recommend applying for the card with the branch of the bank you deal with. Hopefully you've been a long time customer and that may help - I won't guarantee it tho. Also go here www.redflagdeals.comThere's a great write-up on no-fee CC's and their point options. If you can qualify for one of the 1% cash back cards - go for it.And to everyone else that has cut up the credit card because of bad history - you pay a service charge in one form or another when you use your debit card unless you are banking with a Credit Union like Vancity. With a CC the merchant has to pay SC's. If you get a CC with cash back then its a double savings bonus - money back in your pocket.
#5 AL
Posted 22 February 2005 - 01:26 PM
Psst AzmodieN... since you're working full-time, can you not save $625 to put down as a collateral for a $500 limit, no fee CC?That's how I got my first CC a few years back.
#6 minnie
Posted 22 February 2005 - 01:56 PM
start with a zellers card - keep the balance low and pay it off and soon you will qualify for a visa or master cardcredit cards are evil anyway
#7 jasmine
Posted 22 February 2005 - 04:55 PM
apply for a student visa. i had one before.the interest is high. like 18%
#8 AzmodieN
Posted 22 February 2005 - 05:27 PM
18% is a pretty standard rate. I am also not a student
#9 AL
Posted 22 February 2005 - 05:48 PM
> The problem with the down payment is that I probably wont see it for at least a year. True. But you can put that money to work by depositing it into a high interest savings account, so in essence you'd be making the bank pay you for every month they want to hold on to your money. (Granted, current savings acc. rates are not the greatest, but still you get something back, or at least preserve its original value, so it's not money sitting idle and eroding with inflation.) You can view this as your "forced savings plan". [:D]> The bank makes you sign a waver and they decide when you will get your deposit back. This is not necessarily true. You should be able to get your collateral back either a) when they're convinced that you're "creditworthy" or b) when you cancel the card. > Its actually $1000 deposit at my Canada Trust, and you only get a $500 limit. Heh... 200% collateral. And I thought my bank was being unreasonable by asking 125% collateral from me. One good news I can give you is that, within a year of obtaining a CC, * any * CC (collateralized or not), if you've been paying your bills on time, you'll start receiving "pre-approved" offers in the mail from competing issuers. Or, you can choose your own issuer, and apply directly for their card. Since you would've already been using a CC for at least a year, they'll have something to judge you by... that, and plus your existing cash flow should allow you to get a normal card without much difficulty. BTW, that's how I obtained my second CC. [:)]
#10 AL
Posted 22 February 2005 - 06:18 PM
Here's a tip that worked for me when I was dealing with those sh.theads refusing to issue me a card on the grounds that I had no prior credit history: Don't deal with the issuing bank. They'll keep you begging and still they won't give you a CC. Instead, call the CC company that deals with the bank and start grilling them about how you can obtain one of their cards... Ask questions, learn how their system works. Eventually you'll be referred to either a loans officer, or better, a supervisor. Those are the people (and in fact THE only people) that can make or break your deal, so be very careful with them. Some loans officers are just drones, they follow a script and there's very little activity between their ears. So if you feel you're not getting anywhere with a LO, ask to speak with their supervisor.) Once you get the supervisor, explain your situation, mention your full time job, inquire about the possibility of getting a collateralized CC. (Pretend you don't know about 200% requirement they mentioned at the bank... inquire how much you should put down for a card with $500 limit) If you have any finance background and are familiar with its terminology, toss around jargon like "personal net worth", "existing cash flow", "equity" in any assets you might have... during your conversation. (Make sure you know what you're talking about or skip this all together.)Don't be surprised if you start hearing different figures... Let the supervisor be your guide, ask what your next step should be. (Your goal is to get the supervisor to call the branch and instruct them to issue you a CC with the collateral you two agreed on. )Alternatively, you can direct the conversation by suggesting whether you should go to your branch now and get someone there (usually a loans officer) to give the supervisor a call to verify CC company's approval of your application. So at this point unless you have a very bad record at your branch, once you've convinced the supervisor that you have the means as well as the determination to pay your bills on time, there isn't much the bank can do to prevent the CC company from issuing you the card. This, in a nutshell, was the saga I went through to get my first CC. Hope it helped. [:)]
#11 BINGO
Posted 23 February 2005 - 03:31 PM
hey there.. i hear that in the summer time like june or july that western union at the money mart stores are going to have prepaid credit cards... so that will be good :)
#12 Canadiangrrrl
Posted 23 February 2005 - 03:42 PM
I dont know which bank you belong to but TD gave me a visa card when I was like 19 and I didnt even ask for one and I had less than $1000 in my account(I was just a student at the time with no job or anything).I just went in oneday to make a transaction and they asked if I would like a credit card. But I had an account with them for a little over 5 years so that could have something to do with it.
#13 shoebeanie
Posted 05 March 2005 - 06:35 AM
Try Capital One...call their Customer service line at 1-800-481-3239. When you get to an agent, tell them you want a secured card. For a small deposit (ie. $200) you can get a secured credit card that will help you establish a credit rating. Also, you can always send in more $$ to have your credit limit increased.
#14 sparkly
Posted 05 March 2005 - 02:36 PM
When I was 18 I opened a chequing account with RBC. They offered me the student banking package and shoved a Student Visa application in my face. I told them that I wasn't legal age and they said they would gladly hold the filled form until the day of my birthday to process immediately. Sure enough, two weeks after I turned 19 I got a Visa in the mail. Wierd.
#15 Tracy
Posted 07 March 2005 - 09:04 AM
Hi Shoebeanie.. that's a good idea :) I will try... do they have capital one bank locations in Vancouver? It seems new
#16 Snowy
Posted 02 April 2005 - 11:15 AM
I have outstanding student laons- where can I get a credit card?
#17 Snowy
Posted 02 April 2005 - 11:15 AM
I have outstanding student laons- where can I get a credit card?
#18 Snowy
Posted 02 April 2005 - 11:16 AM
Although anyone who spells loans "laons" might be more hard-pressed...
#19 Snowy
Posted 02 April 2005 - 11:20 AM
Oh great this forum is doubling my messages, doubling my messages, and saying everything twice, and saying everything twice. I guess I'll just go to the Carbon Copy (cc) forum, instead of the credit card (cc) forum, where I'll feel more at home. Where I'll feel more at home.
#20 n/a
Posted 08 May 2005 - 10:35 PM
if u tell a bank u want a credit card they will automaticly give u one. i curently have 6 with a total limit of $100,000. i have no job no credit history no cosighner and am only 16. my parents couldnt help me caus they owe like $200,000 and already sold our house. i hope this helps. the cards are capital 1, visa ,mastercard,american express and presidents choice.
#21 AL
Posted 09 May 2005 - 02:48 AM
^ Unreal. 
Are you saying that you applied and they issued you credit cards with average credit limit of $20,000 on each from the get go?
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
#22 Lala
Posted 09 May 2005 - 04:35 AM
Careful that you're not credit seeking...that will drop your beacon score.
#23 another
Posted 11 May 2005 - 08:40 AM
"
Try Capital One...call theirCustomer service line at 1-800-481-3239. When you get to an agent, tellthem you want a secured card. For a small deposit (ie. $200) you canget a secured credit card that will help you establish a credit rating.Also, you can always send in more $$ to have your credit limitincreased.
"
You need an invitation from Capital One. They will only send you an invitation if you have good credit. twits
Try Capital One...call theirCustomer service line at 1-800-481-3239. When you get to an agent, tellthem you want a secured card. For a small deposit (ie. $200) you canget a secured credit card that will help you establish a credit rating.Also, you can always send in more $$ to have your credit limitincreased.
"
You need an invitation from Capital One. They will only send you an invitation if you have good credit. twits
#24 kyleb
Posted 19 May 2005 - 09:40 PM
Be careful of the latest credit card interest twist. It seems some banks are charging interest before others. You can find and explaination here
#25 Hamish
Posted 26 May 2005 - 07:20 AM
Harvest Capital. Now offering prepaid MC. Low fees. One of the first in Canada that I have seen. Check it out.
#26 Hamish
Posted 26 May 2005 - 07:29 AM
Come to think of it, this is probably going to be huge. You see all the prepaid cellular phones and home phone services for people who screwed up their Bell service or don't have the credit to get a cell phone on a contract. There will be a large demand for a prepaid credit card among those who have wrecked their credit rating but still need the advantages of the card. But the prepaid option does not actually help your credit rating only a secured cc will do that. I think I'll go see if they need people to sell this thing.
#27 PETPEST
Posted 26 May 2005 - 02:02 PM
#28 Hamish
Posted 27 May 2005 - 10:07 AM
That doesn't show its a scam. It shows that the credit card is sent from the States and therefore if you have any problems with it the Bank Act of Canada can not help you. So what? It's prepaid. How can you get into trouble with the card itself? That is not a report of anyone getting scammed by it. I couldn't find any web site showing that the Harvest prepaid card doesn't work as it should or any reports like that.
#29 analog andy
Posted 27 May 2005 - 10:10 AM
Well you could always try contacting
| Name | Brian Duval |
| Job Title | |
| Postal Address | Harvest Capital 1530 Albion Road Etobicoke ON M9V 5H4 Canada |
| Phone | 800-795-0455 |
| Fax | |
| harvestcap@yahoo.com |
#30 analog andy
Posted 27 May 2005 - 10:29 AM
Also
http://forums.ebay.c...d=1115337233726
http://www.webhostin...d/280425-1.html
Well its only 39 bucks to get it going so not a big loss and there isnt any real critical info you have to give them except for the mothers maiden name which alot of banks use for a password. Since they ask for a money order payment just get a from a bank other then your own.
Maye I'll be the guinee pig and see what happens :)
http://forums.ebay.c...d=1115337233726
http://www.webhostin...d/280425-1.html
Well its only 39 bucks to get it going so not a big loss and there isnt any real critical info you have to give them except for the mothers maiden name which alot of banks use for a password. Since they ask for a money order payment just get a from a bank other then your own.
Maye I'll be the guinee pig and see what happens :)
#31 Suzie
Posted 26 June 2005 - 03:52 AM
Hi there... can answer your question for you! http://www.harvestca...l.ca/index.html There is the pros and there is the cons, but it definitely is worth having. Hope this helps!
#32 AreYouHim
Posted 26 June 2005 - 08:29 PM
I sent in a money order for the harvest capital prepaid mastercard about three months ago and nothing came back...no emails were replied to, and you cant get a number to reach them at either....They have been reported to the credit agency for not providing the services when people have paid...It is a scam.....
#33 Big J
Posted 02 July 2005 - 06:44 PM
I sent for the Harvest Capital pre-paid card and got nothing. I thought $39 - what the heck. They've priced it very well - not much to lose for one single sucker, and if they get enough it'll add up for them. Website says they'll respond to email inquiries within 24 hours - sent several emails, nothing. They don't mention specific issuing banks on their website, so I contacted Mastercard International. The fraud rep there told me that Harvest Capital is currently under investigation and they have no affiliation with them, and to call phonebusters (RCMP) immediately. I'm doing more than that since I live in the area - let's just call it a fun project for me - I got some time on my hands. Anyways, check out www.ripoffreport.com and search for 'harvest capital' in the search field. I'd also suggest actually mailing something to this ass, either a nasty letter (it'll annoy the f*** out of him when he gets lots of letters when he's expecting suckers' money orders) or even include something nastier in the envelope. Let's have some fun with this scammer.
#34 out39bucks
Posted 04 July 2005 - 12:23 PM
I too have been taken by this Harvest Capital company. I sent them the funds and they have never even tried to email me.....My dad is a Fraud investigator with the RCMP and let me tell you they have not see the last of us. I also am contacting 20/20 we have a good friend that will start a file....My question to all is " has anyone in the last 6mts received a card from them & if the service to activate the cards is real please post the number.....Any help from others would be great........They clame that when you get the card it is send with a number for support or you can do it online....Well were is this info, does anyone out there have it......PLEASE help us.....thanks
#35 helping guy
Posted 04 July 2005 - 12:38 PM
Hello
If you are still reading this then try VANCITY. The havea secured credit card , its the best i my opinion. You give a $500 deposit but its an no limit ,credit limit. It goes in a term deposit and you can't touch it for a year. but you can use the visa withing 2weeks i think could be faster. But if you want more limit then you deposit more money into your account. You can't get into trouble. Example you raise your limit to 5000 and you lost your job and can't make payments and you owe 4000. I think all you have to do is tell them to take it out of your deposit and your limit drops back to 1000. in the mean time your building your rating..
talk with them , they have been very helpful
If you are still reading this then try VANCITY. The havea secured credit card , its the best i my opinion. You give a $500 deposit but its an no limit ,credit limit. It goes in a term deposit and you can't touch it for a year. but you can use the visa withing 2weeks i think could be faster. But if you want more limit then you deposit more money into your account. You can't get into trouble. Example you raise your limit to 5000 and you lost your job and can't make payments and you owe 4000. I think all you have to do is tell them to take it out of your deposit and your limit drops back to 1000. in the mean time your building your rating..
talk with them , they have been very helpful
