Alternatives to credit score for mortgage approval?
Hi all.
USELESS PREAMBLE:
First of all, let me say that I've received absolutely appalling support from my bank. My wife immigrated to Canada in late 2020 and immediately after she got her social insurance number, I ensured that she got a credit card to build her credit. I explicitly told the bank clerk, and *insisted* that we needed her to have a credit card that would build her credit. I was told that she could be added to my Odyssee Infinite Privilege account, not as an additional card but as a co-owner, and that it would definitely build her credit.
After over a year of her not getting a credit score, I started contacting the bank and the 2 credit houses to try to resolve it, spending hours on the phone with people who seem to have no idea what they're talking about. During recent phone calls with the bank, they've continued to insist that the information I was given was correct, and the credit card should build her credit because her name is on the bill. However, people on this forum are telling me that it's wrong and the card is only associated with my credit score as the primary owner. And calling Equifax and Transunion is a horrible and pointless exercise. They have no idea what's going on and they always have some excuse for why they can't help. Bank tells me to call Equifax and Transunion, Equifax and Transunion tell me to call the bank.
TLDR:
Long story short, my wife has no credit score for reasons largely out of our control, I have no faith that the issue will be resolved anytime soon and now we're looking to buy a house. We both make steady decent salaries as professionals. Is there a way to get a mortgage together if my wife has no credit card and no equivalent credit history from her native country? Are we SOL?
USELESS PREAMBLE:
First of all, let me say that I've received absolutely appalling support from my bank. My wife immigrated to Canada in late 2020 and immediately after she got her social insurance number, I ensured that she got a credit card to build her credit. I explicitly told the bank clerk, and *insisted* that we needed her to have a credit card that would build her credit. I was told that she could be added to my Odyssee Infinite Privilege account, not as an additional card but as a co-owner, and that it would definitely build her credit.
After over a year of her not getting a credit score, I started contacting the bank and the 2 credit houses to try to resolve it, spending hours on the phone with people who seem to have no idea what they're talking about. During recent phone calls with the bank, they've continued to insist that the information I was given was correct, and the credit card should build her credit because her name is on the bill. However, people on this forum are telling me that it's wrong and the card is only associated with my credit score as the primary owner. And calling Equifax and Transunion is a horrible and pointless exercise. They have no idea what's going on and they always have some excuse for why they can't help. Bank tells me to call Equifax and Transunion, Equifax and Transunion tell me to call the bank.
TLDR:
Long story short, my wife has no credit score for reasons largely out of our control, I have no faith that the issue will be resolved anytime soon and now we're looking to buy a house. We both make steady decent salaries as professionals. Is there a way to get a mortgage together if my wife has no credit card and no equivalent credit history from her native country? Are we SOL?
