Canadians and a U.S credit card? - GoFuckYourself.com

Pipecrew · 03-03-2003, 06:34 PM

Anyone have one? I started looking into the process of trying to get an American Visa or Mastercard because the exchange rate is getting worse everyday.. Does anyone have one? I am being told there is lots of charges and it will take about 6 weeks to 8 weeks.

jact · 03-03-2003, 06:35 PM

I tried to get one through Scotiabank, eventually I just gave up on it. They don't make the process easy or cost effective at all. Who're you trying to go through for yours?

Pipecrew · 03-03-2003, 06:36 PM

Quote:

Originally posted by jact
I tried to get one through Scotiabank, eventually I just gave up on it. They don't make the process easy or cost effective at all. Who're you trying to go through for yours?

Bank of Montreal or CIBC if i have to

FlyingIguana · 03-03-2003, 06:38 PM

i have a US $ visa with cibc and US $ master with bmo. cash cheques and take the money to pay my credit card then convert whats left to canadian to buy milk

EscortBiz · 03-03-2003, 06:39 PM

a few years ago my friend got one quick from royal bank

Pipecrew · 03-03-2003, 06:40 PM

Quote:

Originally posted by FlyingIguana
i have a US $ visa with cibc and US $ master with bmo. cash cheques and take the money to pay my credit card then convert whats left to canadian to buy milk

Nice, how long did it take with BMO?

jact · 03-03-2003, 06:41 PM

Quote:

Originally posted by Pipecrew

Bank of Montreal or CIBC if i have to

Now if only there were a BMO or CIBC within an hour and a half...

Fuck this living in the country shit sucks!

the Shemp · 03-03-2003, 07:11 PM

I drove down to the US, opened a bank account there and got a credit card.

FlyingIguana · 03-03-2003, 07:13 PM

Quote:

Originally posted by Pipecrew

Nice, how long did it take with BMO?

4 weeks i think.

jact · 03-03-2003, 07:13 PM

Quote:

Originally posted by the Shemp
I drove down to the US, opened a bank account there and got a credit card.

Which state?

the Shemp · 03-03-2003, 07:22 PM

I live close to Washington state. But any of the border states will have local banks that will hook up a Canadian. I had to give less personal info than i did at my bank in Canada.

FlyingIguana · 03-03-2003, 07:29 PM

Quote:

Originally posted by the Shemp
I live close to Washington state. But any of the border states will have local banks that will hook up a Canadian. I had to give less personal info than i did at my bank in Canada.

i was thinking about taking a drive down to maine, but i didn't bother. thought it would be a pain in the ass to get shit hooked up

WiredGuy · 03-03-2003, 07:29 PM

I have 2 US credit cards from Royal Bank. One for my business and one for me personally. I got them in under 2 weeks of requesting it. I try to keep all assets in US dollar given that the Canadian dollar and monopoly money are worth about the same these days. Royal Bank only has USD currency on its gold cards though but that also gets the added benefits of its reward/travel memberships.

WG

the Shemp · 03-03-2003, 07:46 PM

Quote:

Originally posted by FlyingIguana

i was thinking about taking a drive down to maine, but i didn't bother. thought it would be a pain in the ass to get shit hooked up

Fleet bank will take care of you.

magnatique · 03-03-2003, 07:57 PM

why don't you just use paypal's or epasseporte?

magnatique · 03-03-2003, 07:58 PM

wired, actually the CDN dollar went up like 8 points compared to a few months ago... I'm pissed.. loosing like 80$ every 1000 compared to last year heh

WiredGuy · 03-03-2003, 08:01 PM

Quote:

Originally posted by magnatique
wired, actually the CDN dollar went up like 8 points compared to a few months ago... I'm pissed.. loosing like 80$ every 1000 compared to last year heh

Yeah, I just noticed that too. I paid my office rent today from my US account and the exchange rate was shit. I was wondering if the banks raised their fees to convert or if the dollar was gaining. Since when does the Canadian dollar have value, I liked it before!

WG

psyko514 · 03-03-2003, 08:48 PM

http://www.tdcanadatrust.com/usbanking/checking.jsp

this might interest you. you get a visa check card. works great for me.

CoolE · 03-03-2003, 09:38 PM

I found it was quite easy to get a US Funds Visa card in my own name (a personal card) from RBC. You just fill out the form you can get in any branch.

But unlike WG, it was quite a different story for me for a corporate USF card (in my business' name) - eventually after much runaround I was told they do it only in rare circumstances and special approval is required - in otherwords, my little half million dollar a year business wasn't enough for them to bother for me.

So anyway, my workaround is to use my personal USF card for my US expenses then I just reconcile it with my corporation.

Regardless of the exchange rate, a US Visa is a must in my opinion for all of us Canucks in the business. Most of our expenses are in US funds, and virtually all our income is in US funds - so if you convert the income destined for your expenses to CDN then convert it back to US to pay your bills, you lose 2% or so on each conversion. So that is 4% in total - so your bank is getting a 4% surcharge on ALL your US expenses. Fuck that!!

WiredGuy · 03-03-2003, 10:08 PM

Quote:

Originally posted by CoolE
But unlike WG, it was quite a different story for me for a corporate USF card (in my business' name) - eventually after much runaround I was told they do it only in rare circumstances and special approval is required - in otherwords, my little half million dollar a year business wasn't enough for them to bother for me.

I had to do the exact same thing regarding using that personal visa for company purchases and I was told the same about the USD Visa's for corporations, requiring like $1MM in spending or something crazy like that. But about a year ago I went thru my investment broker at Royal Bank and he hooked it up for me (I didn't even fill out a single form). It's the exact same as the USD Gold Visa (personal) except it has my company name on it.

But your right, no way in hell am I going to let banks profit on currency exchanges, you gotta get a USD Visa to keep your expenses low, it's a necessity, not a luxury.

WG

CoolE · 03-03-2003, 10:17 PM

Quote:

Originally posted by WiredGuy

But about a year ago I went thru my investment broker at Royal Bank and he hooked it up for me (I didn't even fill out a single form).

Interesting. I'll have to work on my sweet little "RBC Investing Representative" and see if she can do the same thing for me. Good info. Thx WG.

WiredGuy · 03-03-2003, 10:22 PM

Quote:

Originally posted by CoolE

Interesting. I'll have to work on my sweet little "RBC Investing Representative" and see if she can do the same thing for me. Good info. Thx WG.

By the way, I'm assuming you have a USD Account at Royal. When you talk to an investment rep, ask them to get the US Deposit Interest Plan. It's not offered to many people for some reason and it's pretty sweet. It's a 100% secure investment where you get 75% of the interest rate of the 90 day T-bill rate in the United States. It works out to about 0.5% greater than standard bank interest and you just have to keep your cash in your USD account, no actual investment and its fully secure.

WG

magnatique · 03-04-2003, 12:05 PM

Wired, I'll try that US Deposit thing.... does it require a minimum?

I fear the dame rates will go down again.. was at 1.46 for christ's sake... was 1.54 not too long ago lOL

03-03-2003, 06:34 PM	#1
Pipecrew Master of Gfy.com Industry Role: Join Date: Feb 2002 Posts: 14,887	Canadians and a U.S credit card? Anyone have one? I started looking into the process of trying to get an American Visa or Mastercard because the exchange rate is getting worse everyday.. Does anyone have one? I am being told there is lots of charges and it will take about 6 weeks to 8 weeks.

03-03-2003, 06:35 PM	#2
jact Confirmed User Join Date: Sep 2002 Location: Oakville, Canada Posts: 9,134	I tried to get one through Scotiabank, eventually I just gave up on it. They don't make the process easy or cost effective at all. Who're you trying to go through for yours? __________________ Free agent

03-03-2003, 06:39 PM	#5
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03-03-2003, 07:11 PM	#8
the Shemp congrats to the winners Industry Role: Join Date: Nov 2001 Location: Echo Beach Posts: 10,891	I drove down to the US, opened a bank account there and got a credit card. __________________ i use Vacares...so should you Submit your picture galleries to my site...Outlaw TGP

03-03-2003, 07:22 PM	#11
the Shemp congrats to the winners Industry Role: Join Date: Nov 2001 Location: Echo Beach Posts: 10,891	I live close to Washington state. But any of the border states will have local banks that will hook up a Canadian. I had to give less personal info than i did at my bank in Canada. __________________ i use Vacares...so should you Submit your picture galleries to my site...Outlaw TGP

03-03-2003, 06:38 PM	#4
FlyingIguana aspiring banker Join Date: Mar 2002 Location: toronto Posts: 10,870	i have a US $ visa with cibc and US $ master with bmo. cash cheques and take the money to pay my credit card then convert whats left to canadian to buy milk

03-03-2003, 07:29 PM	#13
WiredGuy Pounding Googlebot Industry Role: Join Date: Aug 2002 Location: Canada Posts: 34,482	I have 2 US credit cards from Royal Bank. One for my business and one for me personally. I got them in under 2 weeks of requesting it. I try to keep all assets in US dollar given that the Canadian dollar and monopoly money are worth about the same these days. Royal Bank only has USD currency on its gold cards though but that also gets the added benefits of its reward/travel memberships. WG __________________ I play with Google.

03-03-2003, 07:57 PM	#15
magnatique Confirmed User Join Date: Jan 2001 Location: Montreal Posts: 1,830	why don't you just use paypal's or epasseporte? __________________ Stunner Media Programs: StandAhead \| IndieBucks \| BoyCrushCash \| Phoenixxx \| EmoProfits \| BritishBucks \| HunkMoney \| LatinoBucks Make $$$ with Gay! Lowest Minimum Payouts in the Business, Perfect Track Record, Amazing Sites

03-03-2003, 07:58 PM	#16
magnatique Confirmed User Join Date: Jan 2001 Location: Montreal Posts: 1,830	wired, actually the CDN dollar went up like 8 points compared to a few months ago... I'm pissed.. loosing like 80$ every 1000 compared to last year heh __________________ Stunner Media Programs: StandAhead \| IndieBucks \| BoyCrushCash \| Phoenixxx \| EmoProfits \| BritishBucks \| HunkMoney \| LatinoBucks Make $$$ with Gay! Lowest Minimum Payouts in the Business, Perfect Track Record, Amazing Sites

03-03-2003, 08:48 PM	#18
psyko514 See sig. Join Epic Cash. Join Date: Oct 2002 Location: Montreal, Quebec. ICQ: 214702014 Posts: 22,366	http://www.tdcanadatrust.com/usbanking/checking.jsp this might interest you. you get a visa check card. works great for me. __________________ Bad Girl Bucks - 50% Revshare through CCBill. Promote BrandyDDD, Pixie's Pillows, Action Allie and more! Phoenix Forum Pics \| Webmaster Access Montreal pics email: psyko514(a)gmail.com \| icq: 214-702-014

03-03-2003, 09:38 PM	#19
CoolE Confirmed User Join Date: Jul 2002 Location: Canada Posts: 451	I found it was quite easy to get a US Funds Visa card in my own name (a personal card) from RBC. You just fill out the form you can get in any branch. But unlike WG, it was quite a different story for me for a corporate USF card (in my business' name) - eventually after much runaround I was told they do it only in rare circumstances and special approval is required - in otherwords, my little half million dollar a year business wasn't enough for them to bother for me. So anyway, my workaround is to use my personal USF card for my US expenses then I just reconcile it with my corporation. Regardless of the exchange rate, a US Visa is a must in my opinion for all of us Canucks in the business. Most of our expenses are in US funds, and virtually all our income is in US funds - so if you convert the income destined for your expenses to CDN then convert it back to US to pay your bills, you lose 2% or so on each conversion. So that is 4% in total - so your bank is getting a 4% surcharge on ALL your US expenses. Fuck that!!

03-04-2003, 12:05 PM	#23
magnatique Confirmed User Join Date: Jan 2001 Location: Montreal Posts: 1,830	Wired, I'll try that US Deposit thing.... does it require a minimum? I fear the dame rates will go down again.. was at 1.46 for christ's sake... was 1.54 not too long ago lOL __________________ Stunner Media Programs: StandAhead \| IndieBucks \| BoyCrushCash \| Phoenixxx \| EmoProfits \| BritishBucks \| HunkMoney \| LatinoBucks Make $$$ with Gay! Lowest Minimum Payouts in the Business, Perfect Track Record, Amazing Sites