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Credit card question

Credit card question

Old Apr 15th 2006, 9:39 pm
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Default Credit card question

Here's another one for you!

Is it possible to transfer an existing British credit card account to a Canadian one or do I have to cut up my old British cards and start fresh credit applications in Canada?

I read someone on here had to make some sort of bank guarantee to get a line of credit going...that's not a problem as such, but it'd be a damn sight easier if I can just transfer my existing card details (not to mention all the card details left on various internet shopping places would have to be changed too - ugh! Though maybe for security that's not such a bad thing...I dunno!)

Cheers
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Old Apr 15th 2006, 9:40 pm
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Default Re: Credit card question

There was a thread a while ago claiming that American Express could do it, but in general I think you'll need to re-apply: and with no credit record in Canada, it may be a problem.
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Old Apr 16th 2006, 2:47 am
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Default Re: Credit card question

Yes, American Express so it, I transferred mine (and they don't care if you have a job etc). They get a copy of your account history from the UK (takes about 10-14 days). Provided you have always paid on time, transferring is just a formality.

HSBC wont transfer credit cards, we asked. We ended up getting a credit card from Scotiabank who were much more helpful.

Originally Posted by MarkG
There was a thread a while ago claiming that American Express could do it, but in general I think you'll need to re-apply: and with no credit record in Canada, it may be a problem.
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Old Apr 16th 2006, 2:57 am
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Default Re: Credit card question

Originally Posted by Oofma
Here's another one for you!

Is it possible to transfer an existing British credit card account to a Canadian one or do I have to cut up my old British cards and start fresh credit applications in Canada?

As others have said, you'll probably have to start afresh. But don't cut up your UK cards until you have sorted out Canadian cards.

In fact, assuming you can trust yourself, it may be worth keeping one or two UK credit cards anyway, in case you ever return. Same goes for UK bank accounts, because of the UK rules on proving your address, opening a bank account is often a nightmare for those who return to the UK having previously closed everything.
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Old Apr 16th 2006, 5:21 am
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Exclamation Re: Credit card question

I have USA CITIBANK and MBNA America credits cards

1- If possible, how can i benefit from my USA credit history in Canada.
2- Do i have to apply from scartch and lose all the credit history i built in USA.

Thanks for replies

Last edited by Yasmina2005; Apr 16th 2006 at 5:30 am.
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Old Apr 16th 2006, 8:19 am
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Default Re: Credit card question

Hi Colsgirl,
I have a Amex card here in Australia. I heard the annual fee for the card in Canada is quite expensive. In Australia i dont have to pay the annual fee.
Info please.
didik

Originally Posted by Colsgirl
Yes, American Express so it, I transferred mine (and they don't care if you have a job etc). They get a copy of your account history from the UK (takes about 10-14 days). Provided you have always paid on time, transferring is just a formality.

HSBC wont transfer credit cards, we asked. We ended up getting a credit card from Scotiabank who were much more helpful.
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Old Apr 17th 2006, 9:41 pm
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Default Re: Credit card question

Originally Posted by Yasmina2005
I have USA CITIBANK and MBNA America credits cards

1- If possible, how can i benefit from my USA credit history in Canada.
2- Do i have to apply from scartch and lose all the credit history i built in USA.

Thanks for replies
As others pointed out, American Express does give you a Canadian Credit Card based on your US credit history. I just got mine in the mail a week ago and it was a simple call to Amex Canada to apply over the phone. Now, I have had Amex cards in US for about 7 years now. Not sure if they gave me a Canadian Amex card based on that fact.

They did not seem interested in my SIN number when I applied - not sure how I can build Canadian credit history without Amex having my SIN number. On the other hand I am glad that they agreed to process my application based on my US credit profile.

Hope that helps.
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Old Apr 17th 2006, 9:56 pm
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Default Re: Credit card question

Originally Posted by JAJ
Same goes for UK bank accounts, because of the UK rules on proving your address, opening a bank account is often a nightmare for those who return to the UK having previously closed everything.
Apropos of this: if you get any grief, demand to speak to the money laundering officer of the bank. If they say "we don't have one" tell them they are committing a criminal offence (they are) and you'll report them to the FSA. Then tell them the FSA requires them to take customer circumstances into account and if they can't work something out, you'll report them to the FSA.

It worked wonders with an obstructive git in a call center the last time I tried to open a bank account without the usual birth certificate, sworn affadavit from bin Laden, DNA sample, etc. etc.

K.
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Old Apr 17th 2006, 10:26 pm
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Default Re: Credit card question

Originally Posted by Colsgirl
Yes, American Express so it, I transferred mine (and they don't care if you have a job etc). They get a copy of your account history from the UK (takes about 10-14 days). Provided you have always paid on time, transferring is just a formality.

HSBC wont transfer credit cards, we asked. We ended up getting a credit card from Scotiabank who were much more helpful.
Amex xfer
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Old Apr 17th 2006, 11:15 pm
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Default Re: Credit card question

Hi, I don't know if PR and work permit people are different - i think they are. Basically with a workpermit and a sin number that starts with a 9 - you can't get a card easily. We managed to get a mastercard/debit card through our credit union and after 10 months here have just managed to get a hbc card WHOO! with a whole $300 credit limit WHOO! WHOO! Can you see my happy dance? But it starts of our credit rating as having a line of credit for a mortgage doesn't count. We have both kept an account open in UK with some pennies in them for super emergencies and for sending flowers etc for birthdays and pay then on line - that money will run out soon though. If your credit card is with a global company like HSBC you may have more luck in transferring - it's not a question I have put to them but they do seem to have branches in most major towns over here. Anyway enough of my ramblings!
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Old Apr 18th 2006, 12:39 am
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Default Re: Credit card question

Originally Posted by didik
Hi Colsgirl,
I have a Amex card here in Australia. I heard the annual fee for the card in Canada is quite expensive. In Australia i dont have to pay the annual fee.
Info please.
didik
We have Amex, not the credit cards but charge cards. It's $300/year for the platinum and $50/year for each gold one.

I also have a Barclaycard, billed from the UK. I've been in Canada since 1981 but you never know when it may be useful to have a card billed in pounds.
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Old Apr 18th 2006, 1:06 am
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Default Re: Credit card question

Get a letter from your existing BANK in the UK, not credit card provider, before you come to Canada. When we approached Scotiabank for a credit card they insisted on a credit reference from our bank (Woolwich) in the UK. Once they got that we got credit cards no problem, were even able to negotiate the limit on the card (got $10K) with no money bond.
I suppose we were in a fortunate position as there are only 2 banks in town and Scotia knew we'd go to CIBC if they didn't give us credit cards!!
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Old Apr 18th 2006, 8:33 am
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Default Re: Credit card question

Originally Posted by TrishB
Get a letter from your existing BANK in the UK, not credit card provider, before you come to Canada. When we approached Scotiabank for a credit card they insisted on a credit reference from our bank (Woolwich) in the UK. Once they got that we got credit cards no problem, were even able to negotiate the limit on the card (got $10K) with no money bond.
Good tip.

One wonders why this is necessary, since Experian and Equifax (the two big credit reference agencies in the UK) operate in Canada too. Maybe it is worth getting one's Experian and Equifax report and taking that to Canada.

K.
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Old Apr 18th 2006, 1:47 pm
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Default Re: Credit card question

Originally Posted by kt0157
Good tip.

One wonders why this is necessary, since Experian and Equifax (the two big credit reference agencies in the UK) operate in Canada too. Maybe it is worth getting one's Experian and Equifax report and taking that to Canada.

K.
No point - bank wasn't interested. Experian and Equifax, although the same name as the UK companies, operate as totally separate entities to the UK counterparts, so credit rating still zero when you get here.
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Old Apr 18th 2006, 2:19 pm
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Default Re: Credit card question

Originally Posted by JAJ
As others have said, you'll probably have to start afresh. But don't cut up your UK cards until you have sorted out Canadian cards.

In fact, assuming you can trust yourself, it may be worth keeping one or two UK credit cards anyway, in case you ever return. Same goes for UK bank accounts, because of the UK rules on proving your address, opening a bank account is often a nightmare for those who return to the UK having previously closed everything.
Certainly a good idea to keep your UK cards if you need significant credit in the short term, although using them won't help your Candian credit history.

Shouldn't be a problem. I even tried closing the accounts on some of mine and in the end gave up. It was easier to just keep them open and let the credit card companies send the statements over here. You do need to keep a UK bank account going to make payments though
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