As an American moved up to Canada I notice it is much harder to get and maintain good credit here. I carry credit card balances but it is 15% to 20% or less of my total amount available and they still penalize me super hard like 80 points on my credit score. Canada needs to make the credit system better up here. The USA is a great place to start a new life because credit is much easier to build and rebuild as needed.
is there a way for you to increase your credit limits ( without using them)? I've had a bank suggest a credit limit increase to me, I said yet, and my score jumped up the next month: my spending remained the same, but total credit increased, lowering the utilization.
@@MakeThatChange I did just that, and they still decrease my score if, say, I go from 2% to 4% balance in a month, and get this, one month the overall balance was 0 and my score decreased a few points... fuckin' A!!!!
Its simply because US is a bigger economy. There are more banks, credit unions, more budgets..simply they've more money. Its easy to get credit there whether it be loan or credit cards. I am in the same situation after moving to Canada from the US. Just to open a bank account, I had to go to 4 different banks! All those Canadian banks advertising the new comer program is partially false, especially the offer they mention about giving a credit card. The only reason one bank finally agreed to give me a no deposit credit card was because, I came here with a job, and the bank was right next to my office, and there were a good number of employees in my company having bank accounts there. In fact one of the staff in TD admitted that its harder to get credit in Canada than the US. I think this reciprocate to the way credit score is calculated here. Its harder to get credit, so its harder to improve your credit score. In the US my credit score went from 0 to close to 800 in 2 years, just by paying off credit card bills on time. But, here it moves in a snail's pace.It took almost 6 months to get the credit score moved by just 1 point 😬
I claimed the staycation tax credit in 2022. I believe it was a one-off for expenses incurred in 2022. I don’t recall if it can be carried over if unused….worth looking into. With respect to identity theft and after having a fraudulent charge on my charge card two years ago, I keep my credit card locked at all times when not using it. Since I rarely use credit, this is not a huge inconvenience for me. I’ve had no fraudulent charges since. It could be problematic if one uses their credit card a lot (which I don’t recommend). Another tip…monitor your credit score/credit reports. There are free online tools available and likely it can be done through online banking as well.
We only have 10.000 NZ saved up to return to Canada, as we are Canadian citizens living and working in New Zealand. Our heart is in Canada even so we got stuck here for 20 years. What advice do you have for us? Thanks
Your video is very informational, and knowledgeable as a new person in Canada it is really hard to be aware of all these things, and sometimes by the time you realize you have already lost so much.
90% of countries and their real estate is more affordable, doesn’t mean people want to live there. There’s a reason why prices are cheaper and why they incentivize expats to live there 🤣
@@MakeThatChangeno, that’s not the reason. Price doesn’t always mean price. There’s much nicer places in Seattle that cost half of vancouver. A home in Niagara Falls, NY costs half of Niagara Falls, ON. The biggest factor is supply and demand amongst others.
Check out the Globe’s article on the 100 most livable cities in Canada ranked, including the top 20 cities for (I) retirement, (ii) raising kids, (iii) young professionals, (iv) mid life transitions and (v) newcomers. It’s the first inaugural ranking. Links don’t work in RUclips.
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As an American moved up to Canada I notice it is much harder to get and maintain good credit here. I carry credit card balances but it is 15% to 20% or less of my total amount available and they still penalize me super hard like 80 points on my credit score. Canada needs to make the credit system better up here. The USA is a great place to start a new life because credit is much easier to build and rebuild as needed.
is there a way for you to increase your credit limits ( without using them)? I've had a bank suggest a credit limit increase to me, I said yet, and my score jumped up the next month: my spending remained the same, but total credit increased, lowering the utilization.
@@MakeThatChange I did just that, and they still decrease my score if, say, I go from 2% to 4% balance in a month, and get this, one month the overall balance was 0 and my score decreased a few points... fuckin' A!!!!
Its simply because US is a bigger economy. There are more banks, credit unions, more budgets..simply they've more money. Its easy to get credit there whether it be loan or credit cards. I am in the same situation after moving to Canada from the US. Just to open a bank account, I had to go to 4 different banks! All those Canadian banks advertising the new comer program is partially false, especially the offer they mention about giving a credit card. The only reason one bank finally agreed to give me a no deposit credit card was because, I came here with a job, and the bank was right next to my office, and there were a good number of employees in my company having bank accounts there. In fact one of the staff in TD admitted that its harder to get credit in Canada than the US. I think this reciprocate to the way credit score is calculated here. Its harder to get credit, so its harder to improve your credit score. In the US my credit score went from 0 to close to 800 in 2 years, just by paying off credit card bills on time. But, here it moves in a snail's pace.It took almost 6 months to get the credit score moved by just 1 point 😬
My question is wtf are you doing in Canada if you care so much about money.
You should stay in America where the big bucks are made.
I claimed the staycation tax credit in 2022. I believe it was a one-off for expenses incurred in 2022. I don’t recall if it can be carried over if unused….worth looking into.
With respect to identity theft and after having a fraudulent charge on my charge card two years ago, I keep my credit card locked at all times when not using it. Since I rarely use credit, this is not a huge inconvenience for me. I’ve had no fraudulent charges since. It could be problematic if one uses their credit card a lot (which I don’t recommend).
Another tip…monitor your credit score/credit reports. There are free online tools available and likely it can be done through online banking as well.
great tips - thank you!
your benefits in the first 90 sec were less known benefits. Many don't know. Overall great video
Thank you! That was the intention!
@@MakeThatChange I think ur channel is less popular than what it should be. It has great info on several videos
Thank you for the kind words! Feel free to share with those who you think might benefit from it. Thank you for watching!
We only have 10.000 NZ saved up to return to Canada, as we are Canadian citizens living and working in New Zealand. Our heart is in Canada even so we got stuck here for 20 years. What advice do you have for us? Thanks
Perhaps this video will be interesting for you ruclips.net/video/CkajeE7isxc/видео.htmlsi=W7f3IwPp_X776LVx
Your video is very informational, and knowledgeable as a new person in Canada it is really hard to be aware of all these things, and sometimes by the time you realize you have already lost so much.
That is why we exist!
我想我们可以有合作的机会，仅仅通过短视频发布就完全可以做到收益
Canada is too expensive. Not worth the costs.
Mexico, Thailand or any island nation is more affordable for sure 🌴
90% of countries and their real estate is more affordable, doesn’t mean people want to live there. There’s a reason why prices are cheaper and why they incentivize expats to live there 🤣
@@MakeThatChangeno, that’s not the reason.
Price doesn’t always mean price.
There’s much nicer places in Seattle that cost half of vancouver.
A home in Niagara Falls, NY costs half of Niagara Falls, ON.
The biggest factor is supply and demand amongst others.
Check out the Globe’s article on the 100 most livable cities in Canada ranked, including the top 20 cities for (I) retirement, (ii) raising kids, (iii) young professionals, (iv) mid life transitions and (v) newcomers. It’s the first inaugural ranking. Links don’t work in RUclips.
Excellent advices.. Thank you very much.. We going to be there on march!
Thank you! Safe travels!
Oh my God! This video was so good and informative
Glad it was helpful!
How can one get a job before arrival? Thank you
Study the job market, research your profession, network, build a good resume and apply and get referrals - in a nutshell!
Yes, it’s no secret your profession must be in demand for you to succeed anywhere in this world.
Make sure to watch this video in full ruclips.net/video/mLuGvbcL77s/видео.htmlsi=M3svy35TVH6aUx4y
Sorry to hear your loss , About your valuables
🙏