Credit Rating: Canada to the US

[lovetimhortons 1]

Hi everyone, I'm currently in the process of AOSing from a K1 (Canada). I thought I had previously read a thread on VJ about being able to transfer your credit rating from Canada to the US, if you had an American Express Card in Canada (which applies to me). I thought it would be nice to have some kind of credit rating in the US! I have received my SSC, and am on a joint checking account with my new husband, as well as a couple utility bills, and am also on my husband's (American) American Express Card and Visa card.

Also, a friend mentioned to me that my credit rating would follow my husband's (the USC). Is this correct?

Thanks for your replies!

Edited January 18, 2011 by lovetimhortons

[YuAndDan 153]

Moving this to the Canada forum..

[Danu 19]

I don't think its transferring your credit rating as much as if you have an AMEX CAN you can get an AMEX US without the hassel due to not having credit down here (like they use yours to open the account) however it doesn't really apply to anything except that. The good thing in that though is that you then have an AMEX US in your name with a higher credit limit than you could get if you didn't go this route, which means you can use it to build credit here. Usually, other than getting on your spouses cards, it takes awhile to accumulate anything on your own, a lot of places will only give people in our situation credit cards where you pay a deposit for the limit (ex. you give them $400 up front for a card with a 400 limit, incase you default). A lot of people have been reporting that if you are on your spouses credit card (though I'm not sure if its as an authorized user or as a secondary card holder) that your credit limit will build up to follow what your spouses is. I haven't checked mine recently to see if it works for authorized users on the card, would be awesome if it does!

[lovetimhortons 1]

Thanks for the reply! It seems like a waste of time then for now, if it doesn't mean transfer of any credit rating itself, especially since I'm already on my husband's (American) American Express card.

I tried testing it out though...applied for a credit card on my own so I guess we'll see what happens! I'm keeping my fingers crossed It was mostly an experiment to get more travel points through the new credit card, and also to try and build some credit on my own.

[Flames9_RN 358]

Nope ur Cdn credit will not just Tx to the USA!! And i forget the terminology---but there are different ways one can be put on a Spouses credit card---1 way may help u get credit rating, the other won't!!

[lovetimhortons 1]

Nope ur Cdn credit will not just Tx to the USA!! And i forget the terminology---but there are different ways one can be put on a Spouses credit card---1 way may help u get credit rating, the other won't!!

thx for the answer, but that wasn't my intial question !!

i didn't know that about the different ways to be put on a spouses credit card. hmm. something worth looking into.

[Flames9_RN 358]

Sorry for wasting your time then. Yes your American express may transfer over to a USA American Express account, but that doesnt mean ur automatically going to have a stellar credit rating in the USA, it wil take some time, but not a whole lot if you pay ur bills on time etc etc! if you do a google search there are many good article on how to obtain or increase your credit rating. I belive Sept or Oct Money magazien had a few great articles on how to increase ones credit rating

[lovetimhortons 1]

thank you

i'll have to do some more reading on this.

just kind of annoying going from stellar ratings in Canada to nothing here. trying to find out how to build it up relatively quickly.

Sorry for wasting your time then. Yes your American express may transfer over to a USA American Express account, but that doesnt mean ur automatically going to have a stellar credit rating in the USA, it wil take some time, but not a whole lot if you pay ur bills on time etc etc! if you do a google search there are many good article on how to obtain or increase your credit rating. I belive Sept or Oct Money magazien had a few great articles on how to increase ones credit rating

[Flames9_RN 358]

Just part of the process. Also search on VJ as it is frequently asked here. Some Companies can obtain ur Cdn credit onfo, but vast majority do not even bother to. As well one does NOT have to be on the mortgage application if ur American spouse has good credit, they can still put you on the title.

[Bern` 0]

If you're military, apply for a Military Star Card. I did that, and I've been in the USA since April and my credit score is 682...for some reason. >_>

[Udella&Wiz 325]

thank you

i'll have to do some more reading on this.

just kind of annoying going from stellar ratings in Canada to nothing here. trying to find out how to build it up relatively quickly.

Yes - it's incredibly annoying, I'm one of those who found it extremely irritating - having had my own good credit for years in Canada and then moving here to start over at 37. Welcome to being an immigrant Despite being highly employable and instant earning a better salary then I ever had in Canada, they still don't give a #######.

My current CC limit is $1000 where as my Cdn card (which I did not close) is up in the teens.

try searching for establishing credit on this forum and the 'Moving to America' forum - establishing credit is a popular topic.

[Inky 1,111]

If you're military, apply for a Military Star Card. I did that, and I've been in the USA since April and my credit score is 682...for some reason. >_>

LOL ARE YOU SERIOUS????

Thats funny =)

[lovetimhortons 1]

it seems the fastest way to increase credit rating is to get added onto the mortgage from my readings on this. but if you think of it logically does it really make sense? getting signed onto hundreds of thousands of $$ of debt contributing to your credit rating. go figure.

i remember in Canada at 18 or 19 when i received my first credit card (that was mine only, no parents involved!) from TD Bank. it was such a simple process...took 5 minutes at the bank and the card arrived in the mail 2 days later. i think my credit limit then was 1000 bucks. hahaha.

i tried googling it, and found wealth of information online, but does anyone have a link specific to people immigrating from Canada?

thanks!

[Udella&Wiz 325]

it seems the fastest way to increase credit rating is to get added onto the mortgage from my readings on this. but if you think of it logically does it really make sense? getting signed onto hundreds of thousands of $$ of debt contributing to your credit rating. go figure.

i remember in Canada at 18 or 19 when i received my first credit card (that was mine only, no parents involved!) from TD Bank. it was such a simple process...took 5 minutes at the bank and the card arrived in the mail 2 days later. i think my credit limit then was 1000 bucks. hahaha.

i tried googling it, and found wealth of information online, but does anyone have a link specific to people immigrating from Canada?

thanks!

I'm not sure you can be just 'added' to the mortgage without the rate being renegoiated, can you? And since you have no credit history, you being on the mortage would have a negative effect on the rate they'll offer. This is the exact reason why my name is not on our mortage...my non history would have cost us an extra percent or two which is a lot of money over the course of the mortgage.

The easist way for me was to get a secured credit card and regularly charge and pay it off each month. Less then 9 months later I was offered a regualr card and I closed the secured card and moved to the new one.

If you can successfully apply for a joint card with your spouse, then great...some here have luck with that, some not (like me). You may be able to easily apply for a department store card etc....

[lovetimhortons 1]

Hi Udella & Wiz: I was added onto my husband's AmEx and Visa cards without any problem. But I bet they're not contributing to my credit rating right now, but we'll see (I tried applying for a credit card to see what happens). Maybe I'll get a retail credit card or two in the meantime.

I didn't know that about the mortgage stuff. That's also good to know. I think it's about time to re-negotiate the mortgage anyways in several months, so maybe I can work on building my credit rating in the meantime.

Anyone with any specific links please let me know thanks!