Department store cards...

[Lights 56]

I was in Macy's the other day, while visiting my Fiance, and they asked me if I wanted to sign up for a Macy's credit card to get a discount on goods I was buying. I said no that I'm not from the US and they said Canadians apply for the card all the time.

It got me thinking though... I will be moving to the US this summer. And I have a US credit card that is associated to my Canadian account. But I know that builds no credit for me in the US. If I were to apply for this Macy's card and get approved, would that start building my credit? Surely they will be going through my Canadian information but since it's already approved and active, when I do make my move, could I not change my address and information on the same card and then my credit would be building in the US instead of Canada? Not sure if that's even possible?

I'm trying to figure out a way where I can start building credit. I'm starting to feel odd knowing I have to start building my credit like a college student. In Canada, I own my own home (although selling it), car, and have near perfect credit. Would it help if I called up the larger credit card companies and ask if I could "pre-pay" for a card? Would putting the utilities in our home in my name help? Just want to get a good running start... I'll have a savings account, but savings means nothing when building credit. Just wanting to see if I can leverage it somehow?

[NikLR 13,228]

I opened an RBC Canada and RBC USA account. They can look at your Canadian credit to issue you a credit card in the USA. To open the account while in Canada you use a W8Ben form. Once in the USA you send them a W9 after getting an SSN (get it ASAP.) This will help jump start your credit but you likely will need a job in the USA to do so as well.

TD and RBC both do cross border accounts and as far as I know, they're the only ones who do it.

If you already have a US credit card once you move they need a W9 form to make sure you're building your US credit, but i would call them to be sure.

FWIW, I was able to totally skip the "store credit cards" and "secure credit cards" to build my credit because I was able to have the bank check my Canadian credit score. I actually got a better interest rate than I ever had in Canada as well - 9.9%.

[TBoneTX 45,654]

Some store cards report to the major U.S. credit agencies, and others don't. Ask the manager on duty at the particular store (Macy's, Home Depot, whomever), or take the application papers and phone the numbers to the credit department.

[Amy_and_Victor 159]

Some store cards can be useful anyway if you're going to shop there often. Like mentioned above Macy's often offers additional 10-20% discounts on their sales for cardholders only. If you're going to shop there at least few times a year it might worth it to get this card just to be able to get extra savings, and this card has no annual fee, so wouldn't cost you anything. Or Kroger (grocery stores chain) rewards card with no annual fee offers cash back on purchases, not whole lot, but again if you're buying all your groceries there it might worth to have it - you will get $10-15 back for every $1000 spent plus few other various rewards/discounts.

[NikLR 13,228]

Target gives you 5% off your bill everyday.

But I have their debit card not the credit card. I don't make enough to get the credit card. Even though I work at Target.

Edited April 5, 2014 by NLR

[Lights 56]

Thanks for all the info. Looks like I can get the credit card and fill out the form at a later date when I get my SSN to start. I've heard it's tough to get a credit card on your own, so if there's a way I can start now and then do a transfer, I'll do it. I'll purposely buy something and just pay it off in full just to maintain good standing for the next few months until I move.

I don't have a TD or RB US card... mine is from CIBC. I should look into TD or RB as well.

[NikLR 13,228]

I started my RBC account right before I left. The US version is only 2.95 a month. You will need the SSN to get a credit card.

[KayDeeCee 4,893]

~ Moved from Moving Here and Your New Life in America to Taxes & Finances During US Immigration - topic is finances/credit ~