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PleaseSirMayIHaveSomeMore

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  1. I was pretty bad with payments back in 2011 and had a couple, what I thought were relatively minor, late payments in 2013. If you've been pretty on top of your payments for the most part, I don't think you would encounter the same problems that I did. Also, try to go to a branch that has good rep with students. The guy I dealt with at Scotia made a stressful situation way more unpleasant than it had to be. As far as second best, RBC gets thrown out on here quite a bit. Terms seem pretty comparable to Scotia, but 80k as opposed to 100k (prime +0.5). I think CIBC is pretty similar to RBC (though I've heard they sometimes have higher interest rates). I have heard that it is best to avoid TD due to some quirks they have regarding their PSLOC. For me the amount doesn't really matter, I probably won't need more than 50k based on my own calculations. But the Scotia guy was completely unwilling to let me apply with a lower amount for whatever reason. I'm heading to CIBC tomorrow, just because I have been banking with them forever and if that helps even a little I'll take it. Getting into desperation mode now, not ideal. But I'll post back with my experience at CIBC.
  2. The person I was dealing was the PSLOC advisor. Refused to let me apply with a lesser amount and refused to let me apply with a co-signer. Guy was basically incapable of any form of negotiation. Have no urge to deal with Scotia ever again after this debacle. Super glad to hear that RBC provided you with a relatively painless experience. Your experience sounds somewhat analogous to mine, so I'm hopeful. The Scotia guy I dealt with was actually pretty knowledgeable regarding their PSLOC program and law school in general. Nonetheless, he was completely inflexible, often rude, and condescending. Not that the latter two points matter, but they basically just lost a customer for life (I was planning on consolidating all my accounts with them if I was approved).
  3. Thanks! The thing is though it is probably just another Scotiabank Branch that is the "officially" affiliated branch. Would there actually be a chance I would be rejected at one Scotiabank branch and then be accepted at another?
  4. Hi everyone, Just got rejected for a Scotia LOC and I'm not sure where/how to proceed from here. Here are the reasons I was told why: - I had a bunch of late payments in 2013 on my federal and provincial student loans (been good since then, but one of the payments at the time was 90 days late). - I had a bunch of late payments in 2011 on my credit card and a couple late payments on my credit card in 2013 (good since then and credit card has been fully paid off for the past year and a half). My only other credit is a small LOC (ten grand) I used in undergrad, payments have been perfect on that and my cell phone, which has been relatively good. I was told that due to these prior delinquencies they would not proceed. My Equifax Report doesn't cite any currently pending issues and my credit score is listed at 700. From what I can gather, while this score could certainly be better, I don't think it is all that bad. Weird thing is, they refused to even let me apply with a co-signor? My mom makes low 6 figures, has a ton of assets, and has good credit and is willing to co-sign. I was told by Scotia that co-signing is for individuals with no credit, not people with bad credit (which is not how I had understood it in the past)... I'm hesitant start trying at every bank and having a million rejections on my Credit Report. Should I go to RBC or CIBC and say I want it co-signed from the get-go? Additionally, I have been with CIBC since I was in junior high and my mom's credit card and house mortgage is through CIBC, do you guys think I would have better luck with them? I appreciate any and all advice. Thank you!
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