establishing credit in the US

[erintoronto 0]

i have heard that once i get to the US i will need to build up my credit from scratch. so i'm wondering - will my canadian credit rating be referred to at any point by US banks or companies that offer credit? or am i really starting over? my credit rating is so-so, however if i wind up declaring bankruptcy (fingers crossed i won't have to) i'm wondering what the implications will be in the US.

thanks in advance

[L_n_O 3]

completely independent...

[DeadPoolX 9]

While you'll start without credit in the U.S., there might be one way to enter the country and get a decent credit card, at least. The Royal Bank of Canada is in both the United States and (obviously) Canada. If you have an account with RBC in Canada and you open one up in the U.S., I don't see why it wouldn't be possible for the U.S. branch to look at your account in Canada. They'd hopefully be able to see something relating to your credit then and give you a better credit card attached to RBC than if you went to a completely different provider (i.e. Capital One, Bank of America, etc).

I don't know if this works, so I can't promise you anything. I'm just saying that theoretically, it should be possible. It may not be allowed for various reasons (most likely many of them unnecessarily bureaucratic), but it'd still be worth a shot.

[Flames9_RN 358]

And if you have a CDn American Express CC, you can phone and get an "American" one!! Some USA agencies can look at ur Canadian credit, but many are just too lazy to do so!!

[Krikit 1,165]

i have heard that once i get to the US i will need to build up my credit from scratch. so i'm wondering - will my canadian credit rating be referred to at any point by US banks or companies that offer credit? or am i really starting over? my credit rating is so-so, however if i wind up declaring bankruptcy (fingers crossed i won't have to) i'm wondering what the implications will be in the US.

thanks in advance

Hi Erin. I wouldn't worry too much about this. The US works pretty independently of Canada when it comes to credit checks. The one exception I have experienced is with Nissan when I went to buy a new car here. They did call Nissan Canada to ask them to run a credit check on me. Which worked in my favour, actually, because I had excellent credit in Canada and they weren't going to give me the low rate if I hadn't. I do know that Capital One US works independently of Capital One Canada. Though God knows why. If I was a US finance company with a Canadian Division, I would certainly be calling the Canadian company to request a credit check. But whatever.

[Reba 2]

They can check your Canadian credit rating quite easily, but as flames said, they're just too lazy. Both countries use the same 3 credit bureau companies.

There are a few credit cards and banks that will transfer credit from Canada to US if you have established accounts with them already in Canada.

[Yomtl 0]

I've been client with RBC (Royal Bank of Canada) for almost 10 years now and decided to open an account with their US branch (RBC Centura) a couple of weeks ago. They confirmed me that my canadian credit history would be accessible by their US branch. I actually received my debit card in the mail yesterday and activated my internet banking account so that I'll be able to easily transfer money between my canadian account and my US account.

So I definitly think it may be a good option for canadians planning on moving to the US....

However depending on where you are planning to move you should know that most of their branches in the US seem to be located in Florida, with also some in Georgia, Carolina, Virginia.

[Krikit 1,165]

I've been client with RBC (Royal Bank of Canada) for almost 10 years now and decided to open an account with their US branch (RBC Centura) a couple of weeks ago. They confirmed me that my canadian credit history would be accessible by their US branch. I actually received my debit card in the mail yesterday and activated my internet banking account so that I'll be able to easily transfer money between my canadian account and my US account.

So I definitly think it may be a good option for canadians planning on moving to the US....

However depending on where you are planning to move you should know that most of their branches in the US seem to be located in Florida, with also some in Georgia, Carolina, Virginia.

There's some in North Carolina also.

[erintoronto 0]

Hi Erin. I wouldn't worry too much about this. The US works pretty independently of Canada when it comes to credit checks.

that's my biggest concern - that they don't work independently and if i am forced to file bankruptcy i'll have my credit rating follow me to the US. it's not like i'm dying to get another credit card, i'd like to leave all that in the past, but i am concerned should i need to get a car, etc. your detail about nissan is good to know!

[trailmix 77]

I also opened an RBC account before I left Canada and an RBC Centura account and yes, they access your Canadian credit rating for mortgages etc - which is really handy. I also did the global American Express card thing - and now have both a Canadian and U.S. American Express card, which is also handy.

When I visited the RBC branch here (in the U.S.) last week, there was a big sign mentioning that they are expanding and that they are changing the name from RBC Centura to just RBC. Also noticed they had a TV ad on yesterday and my Husband saw a billboard advertisment for them yesterday as well, so looks like they may soon be coming to an area near you!

[DeadPoolX 9]

Okay, good... looks like I was right about that.

Honestly, I had no clue if I was going to be or not. It just seemed logical, but since we've been dealing with immigration so often (and therefore, the government), I'm used to logic being tossed out the window. I'm glad to know something works.

I do have a question, however... would the RBC Canada to RBC America thing work in reverse?

[trailmix 77]

Okay, good... looks like I was right about that.

Honestly, I had no clue if I was going to be or not. It just seemed logical, but since we've been dealing with immigration so often (and therefore, the government), I'm used to logic being tossed out the window. I'm glad to know something works.

I do have a question, however... would the RBC Canada to RBC America thing work in reverse?

Darn good question! It would certainly be worth checking out, can't see why they wouldn't do that!

[MrsCat 6]

I also opened an RBC account before I left Canada and an RBC Centura account and yes, they access your Canadian credit rating for mortgages etc - which is really handy. I also did the global American Express card thing - and now have both a Canadian and U.S. American Express card, which is also handy.

When I visited the RBC branch here (in the U.S.) last week, there was a big sign mentioning that they are expanding and that they are changing the name from RBC Centura to just RBC. Also noticed they had a TV ad on yesterday and my Husband saw a billboard advertisment for them yesterday as well, so looks like they may soon be coming to an area near you!

Trailmix, you're so organized, I think I'm gonna just mimick whatever you've done and hope that my life is somewhat understandable when I move.

List of things to Do

Open AMEX Account

See RBC about Centura Acct

[erintoronto 0]

I do have a question, however... would the RBC Canada to RBC America thing work in reverse?

Darn good question! It would certainly be worth checking out, can't see why they wouldn't do that!

some friends of my parents were able to do this a few months ago. i believe as long as you can establish yourself in the US or in Canada, it will work for both!