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Old 03-11-2010, 08:43 AM
 
12 posts, read 70,095 times
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I'm in USA for 11 years and have 800 credit score here in US.

We are moving to Canada within 2 months time. IS my USA credit history help me in Canada or Do I need to start from scratch here in Canada?

-Rwe
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Old 03-11-2010, 12:10 PM
 
Location: Silver Spring, MD
741 posts, read 2,544,614 times
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no it does not follow you, and more importantly can't be shared even though many of the same companies who track it (Equifax) work in both countries.

I had the same problem when I moved to the States. I was a ghost.. you just have to go in there and take time to build up a history. I am assuming it would be the same deal for you as it was me even though the roles are reversed...

Frustrating, but save your pennies, get a credit card and build up a history. Just takes time.
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Old 03-11-2010, 12:16 PM
 
Location: MichOhioigan
1,546 posts, read 2,535,923 times
Reputation: 1459
Quote:
Originally Posted by smakawhat View Post
no it does not follow you, and more importantly can't be shared even though many of the same companies who track it (Equifax) work in both countries.

I had the same problem when I moved to the States. I was a ghost.. you just have to go in there and take time to build up a history. I am assuming it would be the same deal for you as it was me even though the roles are reversed...

Frustrating, but save your pennies, get a credit card and build up a history. Just takes time.
Couldn't you just keep the same credit cards and continue using them? Would they cancel you when they realized the address change?
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Old 03-11-2010, 12:31 PM
 
Location: Silver Spring, MD
741 posts, read 2,544,614 times
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Quote:
Originally Posted by J'aimeDesVilles View Post
Couldn't you just keep the same credit cards and continue using them? Would they cancel you when they realized the address change?
You can use your American cards in Canada of course, however if you decide to make residence there (I don't know how it is in Canada but..) you have to cancel them yourself.

When I moved to the States I used my CDN credit card and paid stuff online for a bit until I got a US one. However, sometime far later in the future for whatever reason, I called up my CDN bank and they asked me if I was living in the US and I said yes (cause they probably saw my new address after giving it to them in the past).

They then said... immediatly.. you are not allowed to hold this card if you reside in the US. You can't hold a foreign credit card... I called them back after some deliberation (cause having the card was useful for an emergency situation) decided I had no use for it by this time (wasn't carrying balances on it anymore), so I cancelled it.

They were very panicky and somewhat strict with me on the phone, but the reality is they were this way because I could easily have used up the card in the US... rang it out to death... and probably could have never paid it and they would have no authority to get the money from me (cause I wasn't living in Canada).

Now of course this is something I was never contemplating on doing, nor would I ever do such a stupid thing, but it makes sense from the banks perspective their reaction.

So that's my situation, and I am sure the US banks would react no differently....

I had moved down... had to see how things go... once things got settled then it was just a matter of time before I cut the cord and of course did.
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Old 03-11-2010, 04:50 PM
 
22 posts, read 81,512 times
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Strange, my wife had (well, in fact continues to have) an AmEx credit card issued in the US of A. We moved to Canada. She used her US card for a while (couple of weeks) before requesting for a CDN one. She was promptly given one with almost double of the credit limit (in figure and almost in value too) she has in her US card. She was allowed to keep her US card too and they promised to send her an US card when the current one expires to the Canadian address.
Now, the (ab)using of credit to the fullest - one can still do it while one is in the USA. Or any immigrant who is going to leave the country for good (at least with no plan of returning for the next 7 years) can ring it to the core and flee the country.
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Old 03-11-2010, 08:20 PM
 
Location: Fishers, IN
6,495 posts, read 10,797,002 times
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Quote:
Originally Posted by smakawhat View Post
no it does not follow you, and more importantly can't be shared even though many of the same companies who track it (Equifax) work in both countries.
Not sure what you mean here. I work for a U.S. bank that has a Canadian parent. We pull Canadian bureaus all of the time for Canucks who've moved here and wish to apply for credit.
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Old 03-11-2010, 08:25 PM
 
4,285 posts, read 14,421,440 times
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Quote:
Originally Posted by grmasterb View Post
Not sure what you mean here. I work for a U.S. bank that has a Canadian parent. We pull Canadian bureaus all of the time for Canucks who've moved here and wish to apply for credit.

But on the reverse, most Canadian financial institutions claim they have no access to US credit histories..........fact, laziness, hidden plot......who knows.
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Old 03-11-2010, 08:27 PM
 
Location: Silver Spring, MD
741 posts, read 2,544,614 times
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I could not get banks in the US to pull my credit info in Canada at all. I even called up Equifax and they flat out told me they don't share info.. That was my circumstance.
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Old 03-11-2010, 08:38 PM
 
Location: Fishers, IN
6,495 posts, read 10,797,002 times
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Quote:
Originally Posted by smakawhat View Post
I could not get banks in the US to pull my credit info in Canada at all. I even called up Equifax and they flat out told me they don't share info.. That was my circumstance.
I'm going to guess that the reason the bank's you approached wouldn't pull a Canadian bureau because they're agreements with Trans Union, Experian and Equifax don't include Canadian bureaus. I would be interested to see what other Canadian banks with U.S. operations do.
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Old 03-13-2010, 09:00 AM
 
Location: Silver Spring, MD
741 posts, read 2,544,614 times
Reputation: 226
Quote:
Originally Posted by grmasterb View Post
I'm going to guess that the reason the bank's you approached wouldn't pull a Canadian bureau because they're agreements with Trans Union, Experian and Equifax don't include Canadian bureaus. I would be interested to see what other Canadian banks with U.S. operations do.
could be different true.... twue...
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