W-9 form

[NikLR 13,227]

I was told by RBC today, when I applied for a credit card, to submit to them a w9 so that the IRS can start my credit rating. Just thought other people should know this and check with their banks to see if they need to submit a w9 with their SSN. I couldn't even get a phone contract... /facepalm

RBC did approve me based off of my Canadian credit. It was pretty awesome that I don't have to start completely from the bottom.

[Canadian Bacon 6]

I was told by RBC today, when I applied for a credit card, to submit to them a w9 so that the IRS can start my credit rating. Just thought other people should know this and check with their banks to see if they need to submit a w9 with their SSN. I couldn't even get a phone contract... /facepalm

RBC did approve me based off of my Canadian credit. It was pretty awesome that I don't have to start completely from the bottom.

Thanks for the heads up! I thought credit went with the SSN though, there's a form we need to fill in order for my husband to be able to start building his US credit? Or is this so banks can see his US credit in Canada?

From what he and his bank adviser told me, he doesn't have any credit in Canada because of his age...though I think it should have started since his birthday earlier this year. Then again, we don't do much that involves credit ratings haha.

[NikLR 13,227]

Paying bills in your own name, renting, etc.. all builds credit in Canada, abet at a smaller rate than a credit card or loan would. Your credit in Canada does not follow you to the USA and vice versa. Basically this form says that you are a tax paying member of the USA. The SSN gives you social security (it's the exact same as a SIN in Canada... needed to work and pay taxes) but doesn't help build your credit at all. If he doesn't have much of a credit rating in Canada it's mostly because he hasn't had a lot of bills, hasn't rented or owned a home or had credit cards. Student loans can help start building people's credit in Canada at least. I know my went to collections in Canada but I eventually worked out a deal and paid them off so they ended up reflecting better on my credit vs negatively.

Because I opened this account without an SSN is why I needed to send them the W9 form. If you guys don't have a US account yet, you probably don't need to worry about it.

[Canadian Bacon 6]

Paying bills in your own name, renting, etc.. all builds credit in Canada, abet at a smaller rate than a credit card or loan would. Your credit in Canada does not follow you to the USA and vice versa. Basically this form says that you are a tax paying member of the USA. The SSN gives you social security (it's the exact same as a SIN in Canada... needed to work and pay taxes) but doesn't help build your credit at all. If he doesn't have much of a credit rating in Canada it's mostly because he hasn't had a lot of bills, hasn't rented or owned a home or had credit cards. Student loans can help start building people's credit in Canada at least. I know my went to collections in Canada but I eventually worked out a deal and paid them off so they ended up reflecting better on my credit vs negatively.

Because I opened this account without an SSN is why I needed to send them the W9 form. If you guys don't have a US account yet, you probably don't need to worry about it.

Oh, okay. Thanks for clarifying that!

It's strange, everyone I've talked to said he literally cannot build credit before being 21 in Canada....If that's not true then he must have decent credit by now since we've rented, had credit cards, school loans, tons of other bills, etc. since being in Canada.

[dukeandduchess 141]

Weird - I never did this. Though when we went to apply for a mortgage the credit bureaus didn't have my credit score on file, and neither did the bank that I had a visa card with. Of course, that was until they denied us for no credit rating then a week later it miraculously showed up!

[NikLR 13,227]

The lady I talked to at the bank said it would start my credit score. Otherwise I'd have the same problems you did (businesses in the USA basically didn't know I existed... I was even denied a target DEBIT card and I work there, plus it's my husband's bank account! #######?!)

As for having credit before you're 21 in Canada, of course you would! He can get a free credit report by mailing equifax.