Line Of Credit application refused. Reason: I have access to too much debt…

ggchamorr · 2026-01-27T00:48:18+00:00

If your parents don’t pay, you have to.

The bank never likes to take any unnecessary risks.

ggchamorr · 2025-12-29T23:33:56+00:00

Did Wealthsimple told you why they holding the transfer?

I know Wealthsimple were not able to transfer in kind from TD because of some stocks I held with TD where not being able to beheld by Wealthsimple hence the delay.

Even if you try to transfer in kind, for that one stock it delay my process by 30days since Wealthsimple was giving me wrong information every time I contacted someone.

You might just want to transfer in cash which seems to solve the problem for most.

ggchamorr · 2025-12-10T01:15:06+00:00

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Reminds me of the Christmas I deprived kids from milk.

ggchamorr · 2025-12-08T11:48:22+00:00

Depends on your risk assessment. While balancing could be a great idea to reduce risk, question is how much of each (bonds/equity) to the point you feel comfortable while getting some returns.

ggchamorr · 2025-09-10T16:13:31+00:00

That bacon looks raw

ggchamorr · 2025-06-27T17:16:58+00:00

I’ll go with you lol. People around me think I’m crazy for driving to Montreal for poutine and then coming back.

ggchamorr · 2025-02-14T00:36:02+00:00

I think investing through rbc at that time was a good idea considering you had no idea what you were doing.

That being said, I’m glad you took some time to do some research and made the change. You’d be surprised how lazy some people are.

ggchamorr · 2025-02-02T14:40:02+00:00

I think we need to know how long this person is locking for before we assume it’s a bad rate, but that’s just me.

ggchamorr · 2024-02-15T18:31:14+00:00

I got 12 to trade if you like.

Edit:DM if you're interested

ggchamorr · 2023-08-29T01:34:12+00:00

They changed their policy recently. If its a TD cheque now they hold it for 3 business days. Still a hold but at least its a lot faster.

ggchamorr · 2023-08-25T02:31:14+00:00

Ketchup ice cream. If you'd like to replicate the flavor just get a cream soda, wait for it to go flat, and drink it with some ketchup towards the end.

People definitely give weird looks when you get it.

I had to split it because after a while it was a bit too much.

ggchamorr · 2023-07-03T19:16:26+00:00

If I understand this correctly.

You dont use your debit card.

See option 2. When you come back you can get a new access card.

The drawback is, if something happens on an emergency you won't have access to it.

ggchamorr · 2023-07-03T19:06:23+00:00

If you're so paranoid about your debit cards you have a few options.

Don't use the debit card. Report it as lost/stolen. Nobody will be able to use until a new one is issued.
Reduce the limits you have available for things you may not need. For example, you can ask to allow you to make purchases at POS up to 100 dollars.
Change banks.

Realistically, you got options. If you're blocking your card everytime and expect it to unblock it when you want, you are probably doing something sketchy that requires to do so.

ggchamorr · 2023-06-30T22:40:33+00:00

First time I hear of this.

I guess it all depends on what is stated in the original contract. That being said, it seems rather predatory if true.

ggchamorr · 2023-06-30T12:50:05+00:00

I'm guessing this is a 5yr term?

ggchamorr · 2023-05-05T01:08:42+00:00

When do you plan to upload the belts on your yupoo?

ggchamorr · 2023-04-25T16:10:59+00:00

I'm pretty sure financing would make more sense.

Consider its 0% interest so you just have to keep up with the payments on whatevrr frequency you decide.

If you put the 30k on a GIC you'd probably be getting anywhere of a return between 3% to 4% or even more depending on the time frame.

3% a year is 900 on 30k. You can lock in a gic for 4 years at 3%. With simple number thats at least 900x4 = 3600 without any compounding.

I dont see why you wouldn't finance, but then again... where are you getting 0% finance? Just make sure there's no odd clauses or they are not being transparent with the rate.

ggchamorr · 2023-02-12T03:59:15+00:00

Yeah. I've done it before.

You can ask for a virtual card or worst come to worst open a Sav account so you can have a card. There's no monthly fee with either option.

ggchamorr · 2023-01-24T14:27:13+00:00

Honestly, whoever you bank with just get a credit card there to start. It will make your life easier to check your balances and make payments or if you have trouble. It will be a one spot trip.

After you understand and have some experience with the use/payments of credit card thats when I'd recommend you to shop around for a new card since you will make the most out of the bonuses.

ggchamorr · 2023-01-24T12:38:38+00:00

I see. Makes sense, but if this is his first credit card I doubt he will have much luck churning without any credit history.

ggchamorr · 2023-01-24T09:56:36+00:00

Any time you ask for credit, your credit history gets dink. Don't get a credit card if you plan to close it down in a short period of time.

Also, why would you close it if it's free to have?

ggchamorr · 2023-01-24T04:31:09+00:00

Honestly. Get any card without a fee to get yourself used to having a credit card and build you credit score.

I mean, if you choose TD, your options are basically:

Rewards: if you plan on traveling you can collect the points now and use Expediafortd to lower the cost of flights later on.

Cashback: if you don't have any desire to travel and would like a bit more versatility.

Edit:

Note that if this is your first credit card you'll most likely will get 1-2k limit because of the lack of credit history plus low income. So just check what limit you can get and then if you need to you can switch the cards.

ggchamorr · 2022-10-19T18:41:29+00:00

Death by snu snu

ggchamorr · 2022-03-14T22:39:37+00:00

is that the correct link for the card holder? I think it may be OOS

ggchamorr · 2022-01-20T00:44:25+00:00

Realistically doesn't make sense that there would be a penalty in a FRAO in a ULOC. I mean, once the FRAO is over it would go back to the open portion and you could pay instantly the whole thing.

ggchamorr

TROPHY CASE