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Rank: Valedictorian
Groups: Member
Joined: 3/4/2008
Posts: 607
Location: Mississauga, ON
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I'm planning on getting my credit card like tomorrow  Just turned 18 yayyy Uhmm so right now I have an account with TD that I could change into the student account and get the Green Visa card http://www.tdcanadatrust.com/tdvisa/green.jspTheir student account is 25 free transactions I was thinking I could also get a student account at BMO and get the SPC mosaik Master Card? http://www3.bmo.com/mosaik/perform_process_special_code?&TPL=TRUE&SPECIAL_CODE=SPC&URL_TOKEN=SPC30 free transactions Is there a reason I should get one over the other? Is there a difference between MC/Visa? Does MC have travel insurance and security/warranty stuff that Visa has? Are there some kind of hidden fees that I won't know about til I get the cards? Any recommendations? I know Royal Bank has the Student I or Student II visa card.. but I think if you want to avoid fees you have to get a GIC investment as well and I have no idea what that's about :S Scotia Bank has the Scene or L'earn Visa card but I think there are monthly fees for student accounts.
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Rank: Student Body President
Groups: Member
Joined: 3/5/2008
Posts: 1,660
Location: Wilfrid Laurier University
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Get a card with no fees. Other than that, they're all pretty much the same, although some offer a rewards system which can be beneficial.
-Stringer
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Rank: Senior Student
Groups: Member
Joined: 6/14/2008
Posts: 73
Location: East York/Toronto
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I have 2 visa cards, and I find banking with my own bank far more beneficial than anything. I also switched from Scotia to TD due to better banking hours. That was my reasoning you can bargain with interest rates
Glendon/York Universty - Specialization in PsychologyChild and Youth Worker Graduate
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Rank: Valedictorian
Groups: Member
Joined: 3/5/2008
Posts: 670
Location: Kingston and Toronto
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Just make sure you have to pay no fees, and pay off your card every month (already posted above).
The only tip I can give you is to find out what bank is more common in Montreal/on McGill campus. You think you will walk 20 minutes to the bank if you have to, but you won't.
For example, Queen's just has TD banks on campus, and while it is a small campus, the nearest RBC, etc. is 15 minutes away.
Uschi
Queen's '10
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Rank: Frosh
Groups: Member
Joined: 3/20/2008
Posts: 29
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You should get a Visa and a Mastercard. Once you have good credit, you should get an American Express credit card too.
Some places only accept one type of card, so having a Visa, a Mastercard, and an AmEx is a good idea.
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Rank: Valedictorian
Groups: Member
Joined: 3/4/2008
Posts: 607
Location: Mississauga, ON
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Thanks guys, Yeah I plan on getting the credit card and only using it if I have to :S My dad would murder me if I didn't pay off everything on the bill. Or he'd uh, pay it for me or something aha if I couldn't afford it Anywayyy gonna head off to TD after a shower cause I think they're having some kinda customer appreciation day today. Tell them I'm considering a switch to BMO and see what they can offer me haha
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Rank: Student Body Vice-President
Groups: Member
Joined: 3/4/2008
Posts: 968
Location: Ottawa
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I have yet to come across a place that takes credit cards that doesn't take my MasterCard. At least 99% of places that take one of Visa or MasterCard will take the other. AmEx lags behind though, and anything else is even further behind (Discover..) See how you deal with one card before getting more. MasterCard has the PayPass thing now, but it needs a special card and I don't know if all banks are issuing it yet (and I got my 2nd credit card just a couple months before they started introducing it..). I think Tim Horton's is exclusively MasterCard. That could be an important consideration for some, then again even though I could pay by credit card now I never have.. and I use my credit card frequently, but usually not unless it's over $20 or so. With regards to branch locations - It's not so important that they are physically on campus, just that they are somewhere you are going to go on a semi-regular basis.
 
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Rank: Valedictorian
Groups: Member
Joined: 3/5/2008
Posts: 670
Location: Kingston and Toronto
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Kaylya wrote:I have yet to come across a place that takes credit cards that doesn't take my MasterCard. At least 99% of places that take one of Visa or MasterCard will take the other. AmEx lags behind though, and anything else is even further behind (Discover..) See how you deal with one card before getting more. MasterCard has the PayPass thing now, but it needs a special card and I don't know if all banks are issuing it yet (and I got my 2nd credit card just a couple months before they started introducing it..). I think Tim Horton's is exclusively MasterCard. That could be an important consideration for some, then again even though I could pay by credit card now I never have.. and I use my credit card frequently, but usually not unless it's over $20 or so. The thing I keep forgetting, and it pisses me off so much, is that No Frills (grocery store) only takes Mastercard and I have a Visa. Haha.
Uschi Queen's '10
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Rank: Valedictorian
Groups: Member
Joined: 3/4/2008
Posts: 607
Location: Mississauga, ON
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 woah Yeah I remember I was lined up for one of those new ice capps at tim's and then I didn't have enough cash (yes i'm broke), and they didn't take debit :S or visa. Only mastercard. Hmmmmmm. PayPass - I just looked it up.. do they use this on public transit as well? I think I saw it on some Mississauga buses and was like woah. Why I didn't konw we had high techy stuff on our crap buses :S
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Rank: Student Body Vice-President
Groups: Member
Joined: 3/4/2008
Posts: 968
Location: Ottawa
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tmhlee wrote: woah Yeah I remember I was lined up for one of those new ice capps at tim's and then I didn't have enough cash (yes i'm broke), and they didn't take debit :S or visa. Only mastercard. Hmmmmmm. PayPass - I just looked it up.. do they use this on public transit as well? I think I saw it on some Mississauga buses and was like woah. Why I didn't konw we had high techy stuff on our crap buses :S I doubt it would be MasterCard PayPass, but similar technology could be used for a transit payment system.
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Rank: Valedictorian
Groups: Member
Joined: 3/4/2008
Posts: 607
Location: Mississauga, ON
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Hmm thanks I went out and applied for TD Green visa and the student account. whee.
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Rank: Senior Student
Groups: Member
Joined: 4/28/2008
Posts: 108
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tmhlee wrote: woah Yeah I remember I was lined up for one of those new ice capps at tim's and then I didn't have enough cash (yes i'm broke), and they didn't take debit :S or visa. Only mastercard. Hmmmmm Hahah. Your not alone. Same, exact thing happened to me. Since when did Tim's start getting soo expensive! lol
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Rank: Senior Student
Groups: Member
Joined: 3/4/2008
Posts: 181
Location: Ontario
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Kaylya wrote:I have yet to come across a place that takes credit cards that doesn't take my MasterCard. I know of one: Costco only accepts AMEX credit cards.
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Rank: Valedictorian
Groups: Member
Joined: 3/4/2008
Posts: 607
Location: Mississauga, ON
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Resurgam wrote:Kaylya wrote:I have yet to come across a place that takes credit cards that doesn't take my MasterCard. I know of one: Costco only accepts AMEX credit cards. lol costco's weird like that. They take debit though so its all good. Not to mention free samples bahaa.
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