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About pacerpacer1

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  1. I talked to Angeline in Vancouver over the Broadway and Granville. Her email: angeline.martinez@rbc.com Might be good to wait, not sure but I know RBC doesn’t have any perks right now but the 45,000 bonus points for new RBC clients? You can ask!
  2. It’s one of those again where the bank tries to manipulate you but you do know you still pay for the line of credit interest right? The interest just accumulates in your LOC. With other banks, sure they take out the interest from the checking account but you’re free to take the payments out from your line of credit and transfer to your checking. In the end, it’s exactly the same - the next interest accumulates on the LOC for Scotia and all the other banks, if you did not have any other source of payments. This was actually what kind of ticked me off with Scotia as well. They make it seem like it’s such a better deal and you don’t make payments. But you do - the payments are paid by your LOC for their LOC and other banks. Some people I talked to completely think they save way more money with Scotia but really the whole deal was just worded in a confusing way. Good thing my bf has some sort of financial acumen and explained this to me.
  3. My suggestion - make sure when you call for an appointment to specifically ask for a medical specialist. I used these links: Scotiabank: https://www.scotiabank.com/healthcare/ca/en/contact-us.html?gclid=EAIaIQobChMInOPP0KT26QIV2h-tBh12_gAMEAAYASABEgL1rfD_BwE RBC: http://www.rbcroyalbank.com/student/specialist-locator/ Pretty easy to find from these links alone. I’m from Vancouver and I talked to Angeline and before it was also Byron whom I found through this link from RBC, but I think Byron left.
  4. As everyone offers the same perks, same products, first off, make sure you’re getting the basics: 350k LOC, Premium credit cards and premium accounts. Once you know you’ll get that, try to find the best fit for the advisor. I went with whom I felt most comfortable with, someone highly recommended and someone who responds fast and efficiently. also try to ask things that are beyond medical lines of credit. We’ll be business owners eventually, so if you feel someone has knowledge regarding the business side, I would say go for that advisor and that bank. One thing that my advisor in RBC mentioned is that they all work as a team. This means if my contact or any other person leaves, doesn't mean I would fall through the cracks and I won’t have a go to person anymore - i have in my disposal a team of healthcare advisors. My sister has mentioned she had to go through so many different advisors and had to repeat her story and agreed upon deals over and over before with Scotia in med school and residency, where RBC says they’ve solved that problem by having several of their team involved with a client, in case your main contact person leaves. My suggestion is to perhaps get some good recommendations based on your location.
  5. Not sure but my sister was in residency in Toronto when she got her LOC last year. And she didn’t have to meet with Angeline in person to sign documents, according to her everything was done remotely. I met her once last year so for me it wasn’t a problem. She just emailed me the documents and I emailed back pdf signatures. Also there wasn’t an option to come in her branch as it was closed anyway due to COVID. You can ask her and try if she can arrange everything over the phone
  6. My contact in Vancouver RBC is Angeline, her email is angeline.martinez@rbc.com. i decided to go and switch to RBC because everyone is right - banks do change their stuff all the time! And everyone offers us the same things and freebies really. It really came down to the one who was fast to reply, really efficient and really got along great. I got my LOC approved in one day! She was highly recommended by my sister and her colleagues as well who are all physicians so I think I’d wanna stick with someone who will be with me beyond med school. She knows everything we need to know even beyond med school. well... until Scotia has another offer I just can’t refuse...
  7. Yah my sister had to re apply and was a lower amount. Whereas RBC guaranteed never having to re apply, the LOC does not get switched to a professional line. If anyone can confirm Scotia’s? As much as I like Scotias perks, it’s really so hard having to keep changing banks all the time. I guess I would consider Scotia only if i am guaranteed never having to re apply or convert.
  8. I I spoke with a medical advisor in RBC and they said this is an offer they have for everyone. To make sure I also asked 3 other medical reps at RBC. I got this email from a rep that pretty much confirms it too. I was going to transfer to Scotiabank but 3 different reps told me different, and my sister did have to re apply after residency and was given a lower amount..
  9. Hi everyone! i dont know if it helps To know but RBC is now offering what they call a “forever LOC” so we apply once and have it forever at prime-0.25%. A first year med student can apply once and have it for the next 60 years. Basically it means we apply once and it never goes into grace period at all. Less hassle as my sister is a physician and she had to provide so much documents when she converted to the professional line. I spoke with a Scotia rep and they couldn’t guarantee this at all. any thoughts? Also I’m in Vancouver!!
  10. Based on my understanding: You have to come back after your 2 year grace period is done to convert to the professional line of credit with Scotia - whereas in RBC, you apply once and you have it forever. One of our family friend said he had to basically re apply when he finished residency with Scotiabank and he didnt get the full 300 he was approved for originally
  11. Yes, basically RBC said as long as you’re either a student, resident or practicing physician, you get the line of credit at prime-0.25% forever. First years only apply once and they have it forever.
  12. I met with both a Scotiabank and RBC rep and both were from the Healthcare advisor lists they show online. Both were great, really knowledgable so it really came down to what was most important to me. After thorough conversation, I went with RBC. They have the VIP and Avion visa guaranteed free forever, and I like the fact that I don’t have to convert to the professional line, and there is no grace period. One thing my advisor noted, their business loan and homeline plan line of credit interest is now also at prime-0.25%. Very important for me as I have a less than 98k joint mortgage with my sister, and we have been with Vancity ever since. We’re up for renewal and it’s pretty sweet my sister may get that home equity line of credit at prime-0.25%, if we get approved. My mom’s a physician as well and has a commercial operating line at TD, so that business loan at prime-0.25% might do wonders for her. It seems in one appointment RBC won me and my family over with all the prime-0.25% for the personal, business and mortgage so that was pretty satisfying.
  13. Okay so I read it and I spoke with an advisor from Vancouver to clarify. She mentioned that all we havr to do is be in the medical industry, there’s like an annual touchbase, and we get the free VIP and Avion and get 350,000 forever at prime-0.25%, without grace period. Do you guys know if the Westjet Mastercard works for this “forever free” too? Based on what I’m reading on the Terms and conditions, they only mention Avion. Speaking of Avion, did anyone find success with getting the Infinite PRIVILEGE one free as well? I find that Scotia had the lounge passes card
  14. Hi everyone! Has anyone heard of the “forever free VIP and Avion” account and they said they can waive all fees forever.... what’s the catch? Also they said you can get a free iPad?? I’ve been with RBC since pretty much birth, but I would think about switching if none of the above were true. Also, someone told me they simply switched their LOC even while in 2nd year med school to their equivalent of a professional LOC, and they got 350,000??. Her rep said no more grace period?? And prime-0.25%. Do you guys have any experience or has anyone encountered this offer? What do we need to do to have it “forever”? Does anyone know of a rep I can talk to? Im incoming 1st year at UBC
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