Establishing Credit in the US from Canada

[NikLR 13,227]

So, the only credit card I have in the US right now is linked to my husband's, so afaik, it shouldn't impact my American credit score.

I don't have a car loan here, nothing. At all.

We had credit checks done during the applications for our place, and we got approved on the spot. My score is apparently north of 780 and I have NO idea how. I told the property manager ahead of time that I wouldn't have much to my name, but apparently not. I don't know what system he used to look me up, but damn.

So hey, maybe we all have awesome American credit and don't even know it!

The only thing my husband and I could come up with was that since we were run as a couple, his score (which is very good) rubbed off on me. Doesn't seem like a very thorough system, but it worked out for us.

Having things that are joint do rub off. In Canada with my ex it did.

Apparently my RBC card didn't have my SSN, so my credit score is based completely off of my joint account with my husband. Which is why I didn't have anything with trans union because USAA doesn't report to them. I've fixed that now and clarified some issues that apparently my husband CAN become a co-applicant with my credit card and they will report for his name and SSN as well. As an authorized user he would not, but as a co applicant or joint applicant, he would.

[Faust942 4]

Hello Everyone! I'm bringing this post back from the dead. I need some help with establishing credit!.

So heres a few updates from when I last posted. I have a CR1 visa, and my POE was yesterday. I don't have my SSN yet. Looking for a job in the USA, and once I get it I will finally move to the USA permanently.

I've already opened these accounts:

• RBC Day-to-Day Banking (Chequing)
• RBC US Savings
• RBC Direct Checking (USD)

I have these pre-existing accounts:

• TD Rewards Visa ($500 credit limit)
• PC Financial and Zenbanx chequing accounts

I've tried to apply for the RBC signature black visa card, but was declined due to high debt/income and no history with RBC. I had some issues with my credit (even though Transunion reports my credit at 752). I have a $16K car loan and $2 student loan.

My questions are:

1. Since RBC declined me, I've been told to correct any owing balances and reapply after 6 months. Should I wait for 6 months before reapplying?
2. Since I have this $16K loan (2 late payments only since 2012), should I even consider using my canadian credit to start an american credit file?
3. I have a TD visa card. Should I visit TD in Albany, NY to apply for a US credit card>?

[Ms Hogan 295]

NONE of my Canadian credit (had a card with RBC US account as well for a long time) came with me. So had to start from scratch. I forked out $500 two times for two separate secured accounts from First Progress. I used the cards regularly and paid them in full each month. Kept them below 30% use. The MOMENT I got anoffer from Discover I applied and got approved. I got an offer from Capital One, applied, approved. As soon as I got the two cards that were not secured I closed the First Progress cards so they sent my $500 (x2) back to me. It took a few months but my credit built up quite quickly. The only demerit that remains 2 years later is that my credit is considered not long enough yet.

Hello Everyone! I'm bringing this post back from the dead. I need some help with establishing credit!.

So heres a few updates from when I last posted. I have a CR1 visa, and my POE was yesterday. I don't have my SSN yet. Looking for a job in the USA, and once I get it I will finally move to the USA permanently.

I've already opened these accounts:

• RBC Day-to-Day Banking (Chequing)
• RBC US Savings
• RBC Direct Checking (USD)

I have these pre-existing accounts:

• TD Rewards Visa ($500 credit limit)
• PC Financial and Zenbanx chequing accounts

I've tried to apply for the RBC signature black visa card, but was declined due to high debt/income and no history with RBC. I had some issues with my credit (even though Transunion reports my credit at 752). I have a $16K car loan and $2 student loan.

My questions are:

1. Since RBC declined me, I've been told to correct any owing balances and reapply after 6 months. Should I wait for 6 months before reapplying?
2. Since I have this $16K loan (2 late payments only since 2012), should I even consider using my canadian credit to start an american credit file?
3. I have a TD visa card. Should I visit TD in Albany, NY to apply for a US credit card>?

Your Canadian credit won't likely have any transition to the U.S.

[Loki_Go 126]

None of my Canadian credit carried over, and I had a significant amount. I know the feeling of wanting to have credit ASAP but just accept it's not possible, and starting over with completely new US banking and credit accounts will be the best. My husband and I deal primarily with Keybank and they accepted none of my Canadianness.

Accepting that, I applied for my SSN about a week after my POE. Got it mailed to me in about 5 business days.

My husband and I opened a joint account. I also opened up my own savings account.

We got married after that and I immediately returned to the SS office and changed the name on my SS card.

After that I applied for a Capital One credit card in my married name. I had to front a good chunk of money down as I had no credit (the more you put down the bigger your credit limit is)... there's a card specifically for people with no credit and it has a 24% interest fee, so you'll want to pay it off as soon as you can each month.

And that's how I'm off and running now. I use that credit card for everything and pay it off as soon as the new balance appears online.

Edited January 16, 2016 by Loki_Go

[NikLR 13,227]

Not sure why yours wouldn't follow you over. I got a credit report from RBC USA stating my Canadian credit score and that they'd accessed it.

I had zero US credit at the time. I do now obviously but didn't 6 months after moving.

[Faust942 4]

Not sure why yours wouldn't follow you over. I got a credit report from RBC USA stating my Canadian credit score and that they'd accessed it.

I had zero US credit at the time. I do now obviously but didn't 6 months after moving.

Again, it was declined due to debt/income ratio, high amount loan/credit limit on current car loan and credit card. Do you think I should try reapplying now or wait 6 months? Should I instead go to TD Visa now?

[Ms Hogan 295]

Not sure why yours wouldn't follow you over. I got a credit report from RBC USA stating my Canadian credit score and that they'd accessed it.

I had zero US credit at the time. I do now obviously but didn't 6 months after moving.

Mine didn't follow at all. Weird. But good for me in the end.

[NikLR 13,227]

Again, it was declined due to debt/income ratio, high amount loan/credit limit on current car loan and credit card. Do you think I should try reapplying now or wait 6 months? Should I instead go to TD Visa now?

Sorry i have a bad habit of not quoting when the person i am replying to isnt the op when the post is right above me.

I would start over in the us if i were you. I had none of those issues in Canada or here so I can't advise you.

[Ontarkie 14,218]

It's actually not the norm for banks take take your Canadian credit history into consideration. They pretty much do it as a favour, and it's almost always from a bank that has a Canadian counterpart.

You could walk into the same bank NLR, and get the same person she had and that person still may not transfer your history. It truly is luck of the draw.

Edited January 19, 2016 by Ontarkie

[NikLR 13,227]

Oh i know its not the norm. Im pretty sure you'd need linked accounts on both sides with TD or RBC to do it with any sort of ease. I opened the credit card with my SIN i think too, not the SSN.

Many people are more than happy to start fresh too and it's nice that option is there for them.

Having good credit is in no way going to get you a card either. I worked with a guy with a perfect credit score, 50000 0% visa in his wallet, but because he was retired and worked just not to be bored at a low wage, he was denied our store credit card. He made under what they required. They even denied me DEBIT card when I started because I had no credit history. I had to get my husband to open the card so we could save the % off.

But just to note, i haven't walked into a bank except to use an atm in almost 3 years.

[Lemonslice 4,836]

Another option is to have an AMEX card, but you need to have it for at least 12 months before you transfer to an American (or another country) account with their Global Transfer program.
They transfer the whole credit history (ex. I have been an Amex customer in Canada since 1995 - I have 20 years of credit history showing on my American credit report now). I even kept both accounts (Canadian and American) for a while because I needed the card with a chip with travelling abroad and it was not yet offered in the USA. I had excellent credit in Canada and for me, it was important to find a way to transfer it.

Had bad experience in TD when I first moved - so I never set up the US account with them; could be better today though.

All in all, I prefer the American banks/credit unions, no fee, great interest rates (3.09% on my checking account!), so it feels like I am actually making money. Never really had to go to a physical location either, remote deposit works great.

Edited January 21, 2016 by Boston~Montreal

[NikLR 13,227]

I also love remote deposit. I wish they had email transfers too tho.

[HollywoodNorth 22]

I did the start fresh approach...

I had a bit of a different situation when I originally went to the US on work visas, I didn't have much credit in Canada, so I didn't bother to try to get US financial institutions to try to evaluate that.

First thing I did was open up a secured credit card with $1000 at a local bank. In my case I used Wells Fargo. I had to explain the situation with the branch manager who managed to set up a profile for me even though I didn't receive my Social Security number yet. 2 weeks later I updated my profile and I had my "training wheels credit card".

It took about 2 years while on that card before I got real credit, I picked up a Macy's card in the meanwhile and that gave me two lines of revolving credit on my file. I think after a year, Wells Fargo refunded me the deposit and I had a normal unsecured card, but at the 2 year mark something flipped on my credit profile and all my credit limits went up very significantly. After that point I got another card, and over the years kept them in use.

I also picked and paid off a car through my credit union. So I have a decent mix of installment based and revolving based credit, all current.

Another thing that helps build credit is to make sure you don't over-utilize your credit on revolving accounts. If you have a $8000 credit card, keep usage to 30-40% of that.

[Faust942 4]

New Addition:

I spoke with TD Canada Trust today to replace my CDN card. During the call they mentioned I was preapproved for a $12K credit card. I said great, but I am moving to the USA. She told me to get their USD credit card. I was skeptical, but she did say I would be able to add my SSN to the account to have it report to the US credit bureas.

So I hung up and called back, this time TD Cross Banking customer service to ask them if they've ever heard of this being done. They told me there is no such process and it would be better if I apply for through TD Bank USA and apply with my SIN. Apparently, I would need to fax in information regarding this.

So I'm at this point filling this form out, but it sounds like first agent didn't know what they were talking about.

Has anyone else heard of getting the USD credit card in Canada and following the above process?

[NikLR 13,227]

When I applied for my US credit card from RBC USA they used my SIN and I added my SSN later.

I think. It was 3 yearso ago!