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-   -   Taking over credit history from Canada to USA (https://britishexpats.com/forum/usa-57/taking-over-credit-history-canada-usa-248192/)

E. Faraday Aug 11th 2004 9:58 pm

Taking over credit history from Canada to USA
 
I am going to move to the States from Canada next month. I would like
to know if I can take my credit history from Canada to USA. Especially
since one of my creditors is MBNA Canada.
Any info on this matter is appreciated.

Hnchoksi Aug 11th 2004 11:21 pm

Re: Taking over credit history from Canada to USA
 
    >Subject: Taking over credit history from Canada to USA
    >From: [email protected] (E. Faraday)
    >Date: 8/11/2004 5:58 PM Eastern Standard Time
    >Message-id: <[email protected] >
    >I am going to move to the States from Canada next month. I would like
    >to know if I can take my credit history from Canada to USA. Especially
    >since one of my creditors is MBNA Canada.
    >Any info on this matter is appreciated.

Why don't you just ask the bank? Or call Experian or Equifax

CanadianK3 Aug 11th 2004 11:26 pm

Re: Taking over credit history from Canada to USA
 
I would be curious to know the answer to this also as I am still in the
waiting process : (.
Are you going over on a K3? If so what are your timelines so far if you dont
mind and what service center are you dealing with? Thanks in advance ~

Rete Aug 12th 2004 3:13 am

Re: Taking over credit history from Canada to USA
 

Originally Posted by CanadianK3
I would be curious to know the answer to this also as I am still in the
waiting process : (.
Are you going over on a K3? If so what are your timelines so far if you dont
mind and what service center are you dealing with? Thanks in advance ~


My Canadian husband wasn't able to and he uses ScotiaBank which also has branches here in the US. He had to start from stratch and that was at age 57 with a full lifetime of good credit behind him.

For C-K3, for the I-129F for the K-3 you can only use one service center - MSC.

Rete

sphyrapicus Aug 12th 2004 12:07 pm

Re: Taking over credit history from Canada to USA
 
Like others have said, you need to start from scratch. I couldn't even get a credit card when I first moved to the U.S., despite having had a Visa and Mastercard for 17 years, and never once missing a payment. I ended up getting a student visa card and gradually increasing the credit limit.

When I inquired about why my applications for credit cards were denied, the response from the credit agencies was "too many or too few bank accounts". In my case, it was the former since they did not recognize any of my Canadian accounts, investments, previous car loans, etc.


Originally Posted by E. Faraday
I am going to move to the States from Canada next month. I would like
to know if I can take my credit history from Canada to USA. Especially
since one of my creditors is MBNA Canada.
Any info on this matter is appreciated.


elga Aug 14th 2004 2:37 am

Re: Taking over credit history from Canada to USA
 

Originally Posted by E. Faraday
I am going to move to the States from Canada next month. I would like
to know if I can take my credit history from Canada to USA. Especially
since one of my creditors is MBNA Canada.
Any info on this matter is appreciated.

My experience is that the Bank of America went out of their way to work on a similiar issue and actually adviced and helped a Canadian take over her complete credit history from Canada. Try speaking to someone there and they might help you just as much! Good Luck!

ArBee Aug 14th 2004 10:53 pm

Re: Taking over credit history from Canada to USA
 
I moved from Canada to the U.S. in 2001 and it has been challenging to say
the least. I had excellent credit back "Home" but here I was like an
fresh-faced 18 year old in terms of credit. The best thing to do is hold
onto your Canadian credit cards and try to wait it out. I managed to get a
U.S. based American Express based on converting my Canadian card. You will
need to be persistent with A.E. on both sides of the border and you will
finally talk to the right person to get this going. MBNA may be able to do
the same for you. Otherwise the best you can do is set up a mechanism to
use your Canadian credit(cards/line of credit) and get money back to Canada
from down here to repay it monthly. I have a bank account with Canada Trust
back home which is linked to a TD Waterhouse account here in the U.S. Works
great for transferring money to pay bills in Canada.

Good Luck

"E. Faraday" <[email protected]> wrote in message
news:[email protected] om...
    > I am going to move to the States from Canada next month. I would like
    > to know if I can take my credit history from Canada to USA. Especially
    > since one of my creditors is MBNA Canada.
    > Any info on this matter is appreciated.

R.G. Stockwell Aug 15th 2004 6:24 pm

Re: Taking over credit history from Canada to USA
 
"E. Faraday" <[email protected]> wrote in message
news:[email protected] om...
> I am going to move to the States from Canada next month. I would like
> to know if I can take my credit history from Canada to USA. Especially
> since one of my creditors is MBNA Canada.
> Any info on this matter is appreciated.

Hi,
I did a similar thing (moved from canada to the usa). In a nutshell,
I had no credit history here, and could not get credit. I got a secured
capital one credit card and started using that
(You send them something like $100, and they hold that as a security deposit.
They gave it back after a year with interest iirc).
That quickly built up a credit record, and after 6 months I was able to
get some real credit cards.

One word of warning, do not apply for credit cards here right away. They sent me
"preapproved credit cards", and I applied and got turned down. But the thing is that
a credit score request is a bad mark on your credit history (After the first year I
think I had 10 requests for credit scores, and that damages my credit rating).

However, you can certainly use canadian credit cards here. I got a US dollar
credit account from canada trust, and used that for the first 6 months.
Depending on how long you will live in the states, you may want to go with
the secured card and start building a US credit history right away.

Cheers,
bob

Mark Carroll Aug 16th 2004 12:45 pm

Re: Taking over credit history from Canada to USA
 
In article <[email protected] >,
E. Faraday <[email protected]> wrote:
    >I am going to move to the States from Canada next month. I would like
    >to know if I can take my credit history from Canada to USA. Especially
    >since one of my creditors is MBNA Canada.

Try contacting MBNA USA's head office and explaining that you have
good credit with MBNA Canada and would like them to consider offering
you a US credit card with that in mind, getting the name of who to
send your details to who can deal with that. I did likewise when
moving to the US from overseas with another international bank and it
worked. Before that I couldn't even get store cards!

-- Mark

Rich Wales Aug 18th 2004 6:03 pm

Re: Taking over credit history from Canada to USA
 
"R.G. Stockwell" wrote:

> However, you can certainly use Canadian credit cards
> here. I got a US dollar credit account from Canada
> Trust and used that for the first 6 months.

Careful, though -- continuing to use a credit card from a Canadian
bank after moving to the US may very possibly be interpreted by the
CRA (Canadian tax people) as evidence that you are still a resident
of Canada (which would mean you're subject to Canadian taxation on
your total worldwide income).

I really, REALLY wouldn't do this unless I had written confirmation
from the bank that they fully understood that I was no longer living
in Canada, and that they were still willing to keep my credit card
account open even though they realized I was now a non-resident
of Canada and had no specific plans to move back to Canada in the
foreseeable future.

My experience (admittedly several years old) has been that Canadian
banks won't go along with such an arrangement. Rather, they will
insist on cancelling your credit cards if you tell them you have
moved "permanently" abroad and are no longer a resident of Canada.

When I moved (back) to the US in 1997, after several years in Canada,
I paid off and closed all my Canadian credit cards. But one bank
apparently misplaced my letter telling them I had moved and asking
them to close my VISA account. Several months later, I got a state-
ment from this bank (forwarded from my old Canadian address to my
new US address), billing me for a new annual fee on my VISA card.
I wrote back to them, reminding them that I had moved (and that
I had already told them about the move). I indicated that I was
willing to keep their VISA card (and pay the new annual fee) =if=
they were willing to convert it to a US$ account payable via
cheques drawn on US banks. Apparently, though, they didn't find
my proposal acceptable, because I never heard back from them again.

Rich Wales [email protected] http://www.richw.org/dualcit/
*DISCLAIMER: I am not a lawyer, professional immigration consultant,
or consular officer. My comments are for discussion purposes only and
are not intended to be relied upon as legal or professional advice.


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