amichel Posted June 24, 2015 Report Share Posted June 24, 2015 You make a good point, truly doesn't matter at the end of the day... majority of these big bank LOC packages are basically the same. Unless your planning to max out your 5 or 10k card every month, you may have enough points for a flight to NY after 3 years.. if that lol. I don't know. I just have the passport visa gold (no Amex) and I have 400 bucks worth of points after less than a year. You just pay for everything on your credit card then pay it off in full every month. Why would you not do this? ieatpremeds 1 Quote Link to comment Share on other sites More sharing options...
ieatpremeds Posted June 24, 2015 Report Share Posted June 24, 2015 I don't know. I just have the passport visa gold (no Amex) and I have 400 bucks worth of points after less than a year. You just pay for everything on your credit card then pay it off in full every month. Why would you not do this? It makes sense if you don't change your spending habits and put any normal expenses on the card. If you're the kind of person that spends money more easily it would just make more sense to spend smart (saving $40-$50 a month can get you more than what those points can in a year). Just my perspective. Quote Link to comment Share on other sites More sharing options...
amichel Posted June 24, 2015 Report Share Posted June 24, 2015 It makes sense if you don't change your spending habits and put any normal expenses on the card. If you're the kind of person that spends money more easily it would just make more sense to spend smart (saving $40-$50 a month can get you more than what those points can in a year). Just my perspective. But... You are spending money you don't have whether on the LOC or the card. I'm not sure why paying with a credit card rather than a debit card would change anything about your spending habits. snacks and JohnGrisham 2 Quote Link to comment Share on other sites More sharing options...
ieatpremeds Posted June 25, 2015 Report Share Posted June 25, 2015 tameimpala, xkittens, NewLife and 1 other 4 Quote Link to comment Share on other sites More sharing options...
rmorelan Posted June 25, 2015 Report Share Posted June 25, 2015 But... You are spending money you don't have whether on the LOC or the card. I'm not sure why paying with a credit card rather than a debit card would change anything about your spending habits. and yet for a lot of people it does. Not logical, but there you go! ieatpremeds 1 Quote Link to comment Share on other sites More sharing options...
xkittens Posted July 2, 2015 Report Share Posted July 2, 2015 Lol @ how the bank agent is all smiles and pushy and answers emails in 3 seconds while trying to sell you, and then takes 2 days to respond to emails as soon as you've been approved for the loan. I hate peopleeee :) ieatpremeds 1 Quote Link to comment Share on other sites More sharing options...
rmorelan Posted July 2, 2015 Report Share Posted July 2, 2015 Lol @ how the bank agent is all smiles and pushy and answers emails in 3 seconds while trying to sell you, and then takes 2 days to respond to emails as soon as you've been approved for the loan. I hate peopleeee :) You will learn the better agents from the not so good ones - this a long term arrangement Quote Link to comment Share on other sites More sharing options...
cndeh Posted July 4, 2015 Report Share Posted July 4, 2015 Also for the RBC folks, anyone successful in upgrading their visa card from the lacklustre Signature Visa to something like Visa Infinite Avion ? Yep, and got the fees waived for the duration of med school. Quote Link to comment Share on other sites More sharing options...
toxscreen Posted July 4, 2015 Report Share Posted July 4, 2015 Yep, and got the fees waived for the duration of med school. Which branch? Quote Link to comment Share on other sites More sharing options...
Sisushi Posted July 4, 2015 Report Share Posted July 4, 2015 Which branch? Seemed to be standard procedure for all RBCs, according to the Hamilton advisor I spoke with. At least the Avion card offered is, but I only got offered fees waived for 1st year. Quote Link to comment Share on other sites More sharing options...
rmorelan Posted July 4, 2015 Report Share Posted July 4, 2015 Seemed to be standard procedure for all RBCs, according to the Hamilton advisor I spoke with. At least the Avion card offered is, but I only got offered fees waived for 1st year. still seems odd there are variations. Much be some local wiggle room? Quote Link to comment Share on other sites More sharing options...
ieatpremeds Posted July 4, 2015 Report Share Posted July 4, 2015 still seems odd there are variations. Much be some local wiggle room? RBC seems to be a little more strict than Scotiabank in my experience (downtown Toronto). RBC med student advisor wouldn't budge on the card (Avion fees waved for only 1 year). snacks 1 Quote Link to comment Share on other sites More sharing options...
rmorelan Posted July 4, 2015 Report Share Posted July 4, 2015 RBC seems to be a little more strict than Scotiabank in my experience (downtown Toronto). RBC med student advisor wouldn't budge on the card (Avion fees waved for only 1 year). yeah I would agree - depends on how much corporate control I guess is being used to keep everything in line guess they are counting on people not moving around. The fee on that card is not insignificant. Quote Link to comment Share on other sites More sharing options...
xkittens Posted July 5, 2015 Report Share Posted July 5, 2015 Seemed to be standard procedure for all RBCs, according to the Hamilton advisor I spoke with. At least the Avion card offered is, but I only got offered fees waived for 1st year. They'd only waive my avion card's fee for 6 months... they wouldn't even waive a signature account's fees for me Quote Link to comment Share on other sites More sharing options...
eskil1u Posted July 5, 2015 Report Share Posted July 5, 2015 Anyone have any success getting the fees waived for the momentum infinite visa from scotia? Quote Link to comment Share on other sites More sharing options...
penguin04 Posted July 5, 2015 Report Share Posted July 5, 2015 I went with Scotia over RBC mainly due to all of RBC's fees and the inconvenience of having to pay interest every month myself rather than having it automatically added to my LOC balance (which isn't a minor inconvenience when you consider that any missed payments during the busy med school schedule can really screw up your credit). It's odd that in such a competitive market, RBC still charges so many fees when their competition doesn't and hasn't for such a long time. Quote Link to comment Share on other sites More sharing options...
outlook101 Posted July 5, 2015 Report Share Posted July 5, 2015 I went with Scotia over RBC mainly due to all of RBC's fees and the inconvenience of having to pay interest every month myself rather than having it automatically added to my LOC balance (which isn't a minor inconvenience when you consider that any missed payments during the busy med school schedule can really screw up your credit). It's odd that in such a competitive market, RBC still charges so many fees when their competition doesn't and hasn't for such a long time. What kind of fees are you talking about if I may ask? Quote Link to comment Share on other sites More sharing options...
Arttomed Posted July 5, 2015 Report Share Posted July 5, 2015 I went with Scotia over RBC mainly due to all of RBC's fees and the inconvenience of having to pay interest every month myself rather than having it automatically added to my LOC balance (which isn't a minor inconvenience when you consider that any missed payments during the busy med school schedule can really screw up your credit). It's odd that in such a competitive market, RBC still charges so many fees when their competition doesn't and hasn't for such a long time. what kinda fees you mean?, I went with RBC and they didn't charge me anything. My advisor is super nice and awesome. cndeh 1 Quote Link to comment Share on other sites More sharing options...
penguin04 Posted July 5, 2015 Report Share Posted July 5, 2015 what kinda fees you mean?, I went with RBC and they didn't charge me anything. My advisor is super nice and awesome.My advisor told me they would charge me yearly for the Avion card (except for the first year) and then she told me about fees charged for the account unless I signed up for the student bank account with them (I bank with Scotia so I didn't like feeling forced to switch my banking to RBC to avoid fees). That coupled with the way they treat interest payments was enough to drive me away from RBC. Nothing against my advisor whom I thought was very pleasant. I just didn't like the fees they kept throwing around. Quote Link to comment Share on other sites More sharing options...
rmorelan Posted July 5, 2015 Report Share Posted July 5, 2015 (edited) I went with Scotia over RBC mainly due to all of RBC's fees and the inconvenience of having to pay interest every month myself rather than having it automatically added to my LOC balance (which isn't a minor inconvenience when you consider that any missed payments during the busy med school schedule can really screw up your credit). It's odd that in such a competitive market, RBC still charges so many fees when their competition doesn't and hasn't for such a long time. I hated that interest every month thing to the cheqing account - small detail but big pain to remember to move some random amount over each month. Edited July 5, 2015 by rmorelan penguin04 1 Quote Link to comment Share on other sites More sharing options...
cndeh Posted July 6, 2015 Report Share Posted July 6, 2015 Which branch? The one at Place Ste-Foy in Quebec City. I don't know what are the fees others are saying they can't get waived at RBC because I got the Infinite Avion Visa and the VIP package with all the fees waived. Quote Link to comment Share on other sites More sharing options...
schmitty Posted July 6, 2015 Report Share Posted July 6, 2015 The one at Place Ste-Foy in Quebec City. I don't know what are the fees others are saying they can't get waived at RBC because I got the Infinite Avion Visa and the VIP package with all the fees waived. Yeah that is more rare, but for other fees, if you get a student banking account with them you will get a minimum of zero fees plus a free VISA rewards card (just not avion, you have to negotiate for that). I didn't even shop around because all my banking was already with them and they gave me everything I wanted for my LOC immediately. As for interest payments, I never let our main chequing account go below about $1000 - 1500 to cover automatic bills and the interest is just taken off this each month automatically...no big deal for me. Quote Link to comment Share on other sites More sharing options...
leviathan Posted July 6, 2015 Report Share Posted July 6, 2015 Scotia waives my fees on the Visa automatically. The AMEX was free the first year, but this second year around I noticed they just reversed the annual fee when I told them I wanted to cancel that card. Quote Link to comment Share on other sites More sharing options...
eskil1u Posted July 8, 2015 Report Share Posted July 8, 2015 with RBC, if you get the VIP package they'll waive the infinite Avion fees, I compared the cards and feel that Scotia's momentum infinite gives you more $$ in your pocket with their 4% cashback on Gas and groceries and 2% on pharmacy. So if you look at the fees, even if scotia charges for their infinite momentum, it would be 99$ and RBC would be 125 with VIP banking. Quote Link to comment Share on other sites More sharing options...
hahmad Posted July 8, 2015 Report Share Posted July 8, 2015 Hey, does anyone know which bank LOCs allow interest payments to come out of the line of credit? Right now I have RBC and CIBC that dont. Do Scotia, BMO and TD allow interest payments from the LOC? Thanks! Quote Link to comment Share on other sites More sharing options...
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