Nobodycirclesthewagons Posted July 27, 2010 Report Share Posted July 27, 2010 lol it would suck if it resulted in an equal loss of OSAP money haha. Do Mac students get the same rate? I don't know, but if it's from the OMA or CMA, it should be the same for everyone. Unless they take into account costs of schooling/living? Link to comment Share on other sites More sharing options...
rmorelan Posted July 27, 2010 Report Share Posted July 27, 2010 I don't know, but if it's from the OMA or CMA, it should be the same for everyone. Unless they take into account costs of schooling/living? It is not schools specific - it actually has nothing to do with the school Link to comment Share on other sites More sharing options...
oldtrout Posted July 29, 2010 Report Share Posted July 29, 2010 I'm looking at signing with TD for my LOC, wondering what you guys thought of the specifics. Good deal? 200k 60k year 1 140k year 2 Interest at prime forever Repayment 12mos after Residency TD Infinite Travel Visa card; No annual fee No Cosigner, No budget sheet etc. Only thing that bugs me is that interest isnt compounded so I will have to go in monthly and transfer money which seems dumb (since the only money I have is the LOC!) but it might help keep me on top of things. Is there anything else I should be considering before I make a decision? Thanks! Link to comment Share on other sites More sharing options...
runningdoc Posted July 29, 2010 Report Share Posted July 29, 2010 I'm looking at signing with TD for my LOC, wondering what you guys thought of the specifics. Good deal? 200k 60k year 1 140k year 2 Interest at prime forever Repayment 12mos after Residency TD Infinite Travel Visa card; No annual fee No Cosigner, No budget sheet etc. Only thing that bugs me is that interest isnt compounded so I will have to go in monthly and transfer money which seems dumb (since the only money I have is the LOC!) but it might help keep me on top of things. Is there anything else I should be considering before I make a decision? Thanks! I'm pretty sure that every bank's LOC is monthly payments, so everyone is taking out of their LOC (unless they have other revenue streams of course) to pay off the interest. It's fine. Having no limitations on the access of the 200K is always nice, but if you are spending more than 60K of your LOC in Year 1, something is probably wrong. Link to comment Share on other sites More sharing options...
shannn Posted July 29, 2010 Report Share Posted July 29, 2010 I'm looking at signing with TD for my LOC, wondering what you guys thought of the specifics. Good deal? 200k 60k year 1 140k year 2 Interest at prime forever Repayment 12mos after Residency TD Infinite Travel Visa card; No annual fee No Cosigner, No budget sheet etc. Only thing that bugs me is that interest isnt compounded so I will have to go in monthly and transfer money which seems dumb (since the only money I have is the LOC!) but it might help keep me on top of things. Is there anything else I should be considering before I make a decision? Thanks! That's amazing, I would have signed with TD if they gave me that offer tbh Link to comment Share on other sites More sharing options...
HBP Posted July 29, 2010 Report Share Posted July 29, 2010 Ask for their select service for free Link to comment Share on other sites More sharing options...
shannn Posted July 29, 2010 Report Share Posted July 29, 2010 Ask for their select service for free I tried, they wouldn't budge So I had to shut down my select service because I couldn't afford keeping $5K sitting in an account Having the TD infinite for free is nice though, I wish I was offered that Link to comment Share on other sites More sharing options...
HBP Posted July 29, 2010 Report Share Posted July 29, 2010 Get the Capital One Aspire World instead. It's a better card. $120/yr fee but they give you $350 worth of points at first purchase and $100 worth per year. So essentially your card is free for 11 years. 2% back in travel. Has all the insurances you could ask for. You might be eligible since you had a higher income last year. Most students won't be eligible. Good card assuming you like to travel. http://forums.redflagdeals.com/capital-one-aspire-world-mastercard-new-challenger-crown-best-travel-cc-897409/ Yeah, $5k sitting without interest isn't possible as a student (when you most likely have debt). Link to comment Share on other sites More sharing options...
shannn Posted July 29, 2010 Report Share Posted July 29, 2010 Get the Capital One Aspire World instead. It's a better card. $120/yr fee but they give you $350 worth of points at first purchase and $100 worth per year. So essentially your card is free for 11 years. 2% back in travel. Has all the insurances you could ask for. You might be eligible since you had a higher income last year. Most students won't be eligible. Good card assuming you like to travel. http://forums.redflagdeals.com/capital-one-aspire-world-mastercard-new-challenger-crown-best-travel-cc-897409/ Yeah, $5k sitting without interest isn't possible as a student (when you most likely have debt). Hmmm, I'll have to look into it. Down the road, I eventually plan on getting a TD select account again, but for now, this could be a good investment for travelling... Link to comment Share on other sites More sharing options...
oldtrout Posted July 30, 2010 Report Share Posted July 30, 2010 Turns out I may not get the Infinite, the agent was calling it that but meant something else. They're looking into it though, Im playing it off as the deal breaker. It seems that the other banks (scotia and RBC) will give their top card free of charge though. This stuff takes a bit of prying, and its a pain that branch to branch things seem to be slightly different, some give in more than others. Link to comment Share on other sites More sharing options...
shannn Posted July 30, 2010 Report Share Posted July 30, 2010 Turns out I may not get the Infinite, the agent was calling it that but meant something else. They're looking into it though, Im playing it off as the deal breaker. It seems that the other banks (scotia and RBC) will give their top card free of charge though. This stuff takes a bit of prying, and its a pain that branch to branch things seem to be slightly different, some give in more than others. The thing is, TD customer service in branch >>>>> all the other banks But it would be realllly sweet if they included a select account, too bad. Link to comment Share on other sites More sharing options...
oldtrout Posted July 30, 2010 Report Share Posted July 30, 2010 The thing is, TD customer service in branch >>>>> all the other banks But it would be realllly sweet if they included a select account, too bad. By the way what is a select account??? Link to comment Share on other sites More sharing options...
shannn Posted July 30, 2010 Report Share Posted July 30, 2010 By the way what is a select account??? It's their premier account that is for free if you maintain a daily balance of at least $5K (else it is $25/month) http://www.tdcanadatrust.com/accounts/select.jsp It includes free cheques, unlimited transactions, fee waived on ANY TD premier credit card, a free small safety deposit box, unlimited free bank drafts/money orders, etc... It is a really fantastic account, provided you have $5K that you don't mind letting idle (but for all the stuff you get, it's awesome) Link to comment Share on other sites More sharing options...
HBP Posted July 30, 2010 Report Share Posted July 30, 2010 Free borderless account + USD visa as well. Link to comment Share on other sites More sharing options...
shannn Posted July 30, 2010 Report Share Posted July 30, 2010 Free borderless account + USD visa as well. I miss my account, lol It is honestly the best banking account you can get for free (provided you have $5K). The borderless account also includes free cheques , and you get a preferred conversion rate of 1.8% I believe instead of the standard 2.5% Link to comment Share on other sites More sharing options...
HBP Posted July 30, 2010 Report Share Posted July 30, 2010 Yeah, I was looking into it because I really wanted the TD Elite Gold Visa + a safety deposit box. Comes with Deluxe TD Auto Club, which is effing awesome if you own a car. Really, the Select Service costs about $100 per year (lost interest revenue)--but it's completely worth it for the benefits. Link to comment Share on other sites More sharing options...
tiramisu0 Posted July 30, 2010 Report Share Posted July 30, 2010 Turns out I may not get the Infinite, the agent was calling it that but meant something else. They're looking into it though, Im playing it off as the deal breaker. It seems that the other banks (scotia and RBC) will give their top card free of charge though. This stuff takes a bit of prying, and its a pain that branch to branch things seem to be slightly different, some give in more than others. I just went to three banks yesterday, Scotia, RBC, and TD. The only bank that offered me a good card deal whatsoever was RBC, but it was so-so - their top card (annual fee: $120) free for one year only. May I ask where you live and what branch you went to that offered you "top card free of charge" more than a year? I am going to go with RBC if you meant free for one year, but I would LOVE to go with any bank that offers me free top card for as long as I wish! Link to comment Share on other sites More sharing options...
tiramisu0 Posted July 30, 2010 Report Share Posted July 30, 2010 Yeah, I was looking into it because I really wanted the TD Elite Gold Visa + a safety deposit box. Comes with Deluxe TD Auto Club, which is effing awesome if you own a car. Really, the Select Service costs about $100 per year (lost interest revenue)--but it's completely worth it for the benefits. I looked into the Select Service too, but for those who are eligible for OSAP, it really isn't worth to compromise amount of OSAP debt you can get by holding $5000 in the account, especially if you can borrow more than $7300 and some of the debt could be forgiven. But the deal sounds sweet for those who won't get OSAP anyway. Link to comment Share on other sites More sharing options...
HBP Posted July 30, 2010 Report Share Posted July 30, 2010 Yeah, it doesn't make sense for students (especially med students). Link to comment Share on other sites More sharing options...
Struggles Posted August 1, 2010 Report Share Posted August 1, 2010 This is going to sound like a REALLY stupid question lol but why do people need 200k? I may be way off here, but aren't most people in Ontario able to cover the majority (75% or so) of their approx. 20k tuition via osap + bursaries... i know housing/utlities costs vary, but lets say they range from around $500/month to $1200/month ($6000/year to appox. $14000/year)... and food+spending money, lets say $5000/year (just a guess) anyways, after osap/bursaries, don't most people just need an extra $15-25k/year? Why do med students take out 200k loans? am i missing something? does OSAP get much worse for us after first year? do bursaries get much lower/non-existant after first year? You have to remember there is a huge variance in people's living expenses beyond even just rent - which can be huge in itself. Some people want to spend the lowest amount of money possible during school, while others may want to live a nicer lifestyle. It's all personal preference and you can't go wrong either way as long as your not an idiot with numbers. Just a heads up - having a 200k LOC is nice after residency is over b/c you could pay off your government loans immediately using your LOC which likely will have an interest rate that is lower by 2% or more. It's chess not checkers mate. Link to comment Share on other sites More sharing options...
b3ar Posted August 5, 2010 Report Share Posted August 5, 2010 i signed up with TD.. i don't have Select Service.... but my TD person is kind enough to order free cheques and money orders too... i guess if your TD finanical adviser is nice enough... Link to comment Share on other sites More sharing options...
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