Need to build U.S. credit history from Canada

[Shep & Kali 0]

So: K1 filed in July, and a notification about missing information came a couple of days ago, so we know that somebody is looking at it, at least.

Looking ahead, I see one big hurdle for our life together Stateside: while my Canadian credit history is good (credit cards, LOC, bills paid off, house purchased, etc.), hers is not so good. She's not a fan of credit cards and a lot of the consumerist madness that surrounds them, so she lives pretty much a cash-only lifestyle: cashes her check at the bank and does her major life payments (rent) through money orders and the rest (phone, utilities) in cash. Which I think is super cool, but credit agencies take a dimmer view of.

So as Cap'm Credit, I'd like to start building a credit history from Canada pending the move down.

The simplest option, I'm GUESSING, would be to see if I can find a U.S. bank that would give me a credit card, then start purchasing things and paying it off immediately. Since it's probably about a year to moving, I can get a good chunk of credit history built up if I make that my primary card.

But I'd like suggestions and pointers on how I can start building my credit history in the U.S.A. from Canada pending my visa.

Thoughts? Thanks!

[Emancipation 2]

http://www.visajourney.com/forums/index.ph...aded&start=

Do some digging my friend.. use the search feature.. there are loads of topics with us Canucks discussing this stuff.. Here's a start!

[Shep & Kali 0]

Followed up to that thread.

I did try searching, but the signal-to-noise ratio of these forums is pretty bad. A few clear answers here would also be appreciated.

[Dan J 277]

Followed up to that thread.

I did try searching, but the signal-to-noise ratio of these forums is pretty bad. A few clear answers here would also be appreciated.

You will be starting more or less with no credit in the US. Some banks can transfer your credit account to a US one if they offer accounts in both countries.

If you have an AMEX card with a high limit, you can jump start your US credit by getting a card in the US.

[Reba 2]

If you have a Canadian dollar AMEX credit/charge card, after you move to the US you can switch it to a US dollar account. Check the AMEX website for info on how to do that.

If you open a bank account with a Canadian bank or international bank that has branches in both countries (ex: HSBC, RBC...) you can likely just transfer your account to the US after you've moved. And if you have a credit card from that particular bank, you can transfer that as well.

When I moved down here I had an MBNA Canada mastercard, and after I moved and got an SSN and a job, I applied to MBNA America for a card. I sent them a copy of my MBNA Canada card statement, with my credit in good standing and they sent me a new credit card. They have since been bought by Bank of America, so I have no idea if this option would still work. I don't know what happened to the MBNA Canada after the buy-out.

[JoeCanuk 3]

Can one who moves to the states and is unable to pay a Canadian credit card apply for bankruptcy in Canada? And if so, would it affect them in the states? I am not sure one could do it but I don't believe it would affect one in the states. Anyone have any knowledge about this?

[Dan J 277]

Bankruptcy in Canada would not affect credit in the US.

[Reba 2]

why would you want to file bankruptcy? What if you move back to Canada in a few years?

[whistlegirl 0]

So: K1 filed in July, and a notification about missing information came a couple of days ago, so we know that somebody is looking at it, at least.

Looking ahead, I see one big hurdle for our life together Stateside: while my Canadian credit history is good (credit cards, LOC, bills paid off, house purchased, etc.), hers is not so good. She's not a fan of credit cards and a lot of the consumerist madness that surrounds them, so she lives pretty much a cash-only lifestyle: cashes her check at the bank and does her major life payments (rent) through money orders and the rest (phone, utilities) in cash. Which I think is super cool, but credit agencies take a dimmer view of.

So as Cap'm Credit, I'd like to start building a credit history from Canada pending the move down.

The simplest option, I'm GUESSING, would be to see if I can find a U.S. bank that would give me a credit card, then start purchasing things and paying it off immediately. Since it's probably about a year to moving, I can get a good chunk of credit history built up if I make that my primary card.

But I'd like suggestions and pointers on how I can start building my credit history in the U.S.A. from Canada pending my visa.

Thoughts? Thanks!

Here's my $0.02.

I had a bit of a head start from you - I met my fiance when I was working down in the US on a J1 visa - so from that time, I kept the US credit card that I had - however, since that was back in 1999, there was nothing on my credit report - essentially I was back in the 'no credit' boat.

Anyhow, my first step was opening a chequing account, and using that. Due to the fact that I had a 'relationship' of sorts with this bank (who held my original credit card), I was able to apply for a new card with them. This was granted, and had a 9 month 0%APR on purchases and balance transfers. So I made a couple of big(ish) purchases, and for the past few months, I've been steadily making payments (at 0% interest) to build my credit. Apparently something is working, because I just had a credit line increase on my first card.

If you're unable to open an account and/or apply for an unsecured credit card, you might want to try a secured one. You give them money ($500 or $1000), and they'll issue you a 'secured' card for that limit. I would do that when you're down visiting, and not try to set things up from Canada. Just FYI, there ARE actually some banks that will look at/pull your Canadian credit report to get you started. That's what I initially did when I lived down there and they wouldn't give me an unsecured card - I had a copy of my Canadian report, and asked them to pull it, and it worked.

When you get down there with your sweetie, you'll probably want to put a utility or two in your name to help build your file.

Let me know if I can be of any (further?) help

Melissa