Lines of Credit for Medical Students (Scotia is the best option)

[mcatthrow101 0]

11 minutes ago, AAAmeds said:

I was asking mcatthrow101 since he/she got the premium credit card for no annual fee WITHOUT having an LOC with RBC just by stating he/she's a medical student as he/she claims. I am aware you can get a credit card with no AF with an LOC with RBC or Scotia but thanks.

I got the RBC Avion Visa Infinite, the same one advertised with the project. It didn't need any negotiation, I just asked for it.

[AAAmeds 32]

1 hour ago, mcatthrow101 said:

I got the RBC Avion Visa Infinite, the same one advertised with the project. It didn't need any negotiation, I just asked for it.

Oh you probably got it when they were offering the "First year no annual fee" promo. I dont think banks would give premium cards for no annual fee to us just because we're medical students without signing an LOC with them.

[GTA Med Advisor 25]

On 6/24/2018 at 2:57 PM, mcatthrow101 said:

Do you know if we can get just the credit card with Scotiabank and fees waived without the LOC?

You can not - you'd have to get the LOC as part of the package, but that doesn't mean you'd have to use it. You can just have it set up and sit there without ever withdrawing from it if you dont need it.

[canada747 51]

I've got my meeting today with Scotia. Anything I should know about/be aware of going in? What should I pay special attention to?

[mcatthrow101 0]

12 hours ago, AAAmeds said:

Oh you probably got it when they were offering the "First year no annual fee" promo. I dont think banks would give premium cards for no annual fee to us just because we're medical students without signing an LOC with them.

No, they gave it to me under the med students offer with 30k points. The first year no annual fee promo is 25k points, and the regular promo is 15k points.

I also would not have reached anywhere close to the minimum income requirements to get it in any way but through the med offer.

[AAAmeds 32]

17 hours ago, mcatthrow101 said:

No, they gave it to me under the med students offer with 30k points. The first year no annual fee promo is 25k points, and the regular promo is 15k points.

I also would not have reached anywhere close to the minimum income requirements to get it in any way but through the med offer.

Is it gonna be no annual fee forever or just for a year/a few years? And did you have the choice to go with any of RBC's premium cards?

[fz90 0]

can someone please provide the contact for a good scotiabank advisor in the downtown toronto area? 

[la marzocco 351]

35 minutes ago, fz90 said:

can someone please provide the contact for a good scotiabank advisor in the downtown toronto area? 

Lynne Owen

lynne.owen@scotiabank.com

416-866-3940 x4206

[Comprehensible 40]

So I'm having trouble getting ahold of someone from scotiabank, and RBC wants to talk on the phone instead of in person because they want me to talk to someone where my school is, not where I currently live. 

Is there any point trying to talk to any of the other banks? Or are they way too far behind?

[docK 1]

any news on when Scotiabank plans on updating these new changes? 

[j17f 221]

52 minutes ago, docK said:

any news on when Scotiabank plans on updating these new changes? 

Someone I know who signed up with Scotiabank recently was given 325k for their LOC. Maybe that's it?

[Confluence 4]

54 minutes ago, docK said:

any news on when Scotiabank plans on updating these new changes? 

The advisor I spoke to said that that max is increasing from 275k to 300k. Not sure exactly when it’ll be updated though.

[j17f 221]

14 minutes ago, Confluence said:

The advisor I spoke to said that that max is increasing from 275k to 300k. Not sure exactly when it’ll be updated though.

@friedchickendudeMD

[GTA Med Advisor 25]

1 hour ago, docK said:

any news on when Scotiabank plans on updating these new changes? 

I'm sure it will be posted here as soon as we know.

[Bluecolorisnice 21]

I spoke to an advisor at Scotia who said it is even possible to get 325,000. It is possible to get between 300-325,000.

[indecisivePremed 2]

Does the LOC depend on the advisor you get? I spoke to someone at Scotia who said that the offer is at prime interest rate, but I thought it was prime minus 0.25 and she said there are no changes that will be made soon/275 is absolute max

Wondering if it's something about my record though I don't have bad credit, I think?

[Bluecolorisnice 21]

I think it depends on the advisor. They have ability to negotiate or increase the limit.

[GTA Med Advisor 25]

42 minutes ago, indecisivePremed said:

Does the LOC depend on the advisor you get? I spoke to someone at Scotia who said that the offer is at prime interest rate, but I thought it was prime minus 0.25 and she said there are no changes that will be made soon/275 is absolute max

Wondering if it's something about my record though I don't have bad credit, I think?

This is a sign that you are dealing with someone who does not have enough experience with the SPSP program. Ideally you'd want to deal with someone on this list. If you deal with a random advisor/branch chances are that they won't be up to date or familiar with a lot of the changes, unless you luck out and find someone like myself who isn't on the list but still keeps up to date with these things. Chances aren't good though I have to say.

[PD23 17]

6 hours ago, indecisivePremed said:

Does the LOC depend on the advisor you get? I spoke to someone at Scotia who said that the offer is at prime interest rate, but I thought it was prime minus 0.25 and she said there are no changes that will be made soon/275 is absolute max

Wondering if it's something about my record though I don't have bad credit, I think?

I just spoke to my MD advisor at UofT and they said prime minus a quarter is what should be offered at Scotia for SPSP program. I was initially offered prime as well so I called them and they said they would rectify it

[GTA Med Advisor 25]

On 6/28/2018 at 10:45 AM, docK said:

any news on when Scotiabank plans on updating these new changes? 

Stay tuned next week for news - looks like Friday of next week.

[medhopeful2 14]

Hey guys,

 

For those who got the visa infinite cards from Scotia, were you able to use the promotion for 25k points after spending $1000 the first 3 months? I was told no because the card is free for med students. 

 

Thanks!

[Lesigh2 24]

Other than free iPad from RBC and fee waivers for credit cards, are there any other perks from banks?

[IMislove 560]

12 hours ago, medhopeful2 said:

Hey guys,

 

For those who got the visa infinite cards from Scotia, were you able to use the promotion for 25k points after spending $1000 the first 3 months? I was told no because the card is free for med students. 

 

Thanks!

My personal account advisor said yes we get that, too bad each advisor can be so inconsistent but that’s life. 

[Incisor94 85]

12 hours ago, medhopeful2 said:

Hey guys,

 

For those who got the visa infinite cards from Scotia, were you able to use the promotion for 25k points after spending $1000 the first 3 months? I was told no because the card is free for med students. 

 

Thanks!

Even my advisor said we get the bonus. Talk to your advisor again or maybe give Scotia Customer service a call?

[heydere 12]

I was reading the Gold Amex (https://www.scotiabank.com/ca/en/personal/credit-cards/american-express/gold-card.html) and Passport infinite (https://www.scotiabank.com/ca/en/personal/credit-cards/visa/passport-infinite-card.html) descriptions. Regrading reward points earned, both mention eligible "eligible grocery stores, dining, entertainment purchases"

Does anyone know what counts as eligible? Cant find the info anywhere.