Canadian bank experience?

Discussion in 'Credit Talk' started by Jack, Mar 1, 2001.

  1. Jack

    Jack Guest

    There are less card issuers in Canada. Most MC and Visa are issued by major banks (about 7 of them nationaly). Did any one have experience in negotiating terms with these bank issuers? Most of the interest rates are fixed, published, and same for everybody regardless of the credit history. As long as one gets approved, the same interest rate printed on the cardholder agreement pamphlet is given.

    My questions are:
    - Is there any room to lower APR?
    - Do they have a retention department to handle request?
    - Is FICO score used here since Equifax and TransUnions are both the major bureaus here?

    Thanks in advance for any help.
  2. tialli

    tialli Guest

    I don't know about the first two questions but FICO is used here in a dominant way, through those bureaus, by most everyone here in Canada.
  3. Michael

    Michael Guest

    Actually I was told that it was Beacon Scores that were used not Fico.
  4. tialli

    tialli Guest

    Beacon is only a trade name of FICO for Equifax Canada.
  5. Zachary

    Zachary Guest

    And there is EMPIRICA for Trans-Union, the second and newest major national CRA for Canada, based in Hamilton. The tradenames are just variations of the same basic Fair, Isaac proprietary software product.

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