How can a Canadian build credit in the US?

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dogblood
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How can a Canadian build credit in the US?

Postby dogblood » Wed Jul 24, 2013 10:31 pm

Hi everyone,

Just looking for some advice on best practices to build credit in the US. Recently transferred here from Canada.

Thanks in advance!

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Midori
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Postby Midori » Thu Jul 25, 2013 12:35 am

Is it possible to get credit history in the US without a SSN?
Does your Canadian bank have any branches in the US that you can work with? (RBC Bank USA, for example?)
And if you have an Amex in Canada, do they still import your credit history into the US for you?

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Victorleo
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Postby Victorleo » Thu Jul 25, 2013 10:05 am

Midori wrote:And if you have an Amex in Canada, do they still import your credit history into the US for you?


This is not a bad idea. Here is the link. https://www.americanexpress.com/global-card-transfers/

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djrez4
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Postby djrez4 » Thu Jul 25, 2013 3:29 pm

If you're here long term, you'll have an ITIN. Apply for a secured card with that. Wait 12 months. Then, you'll be able to get lower-end unsecured cards.
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DavidNY
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Postby DavidNY » Thu Jul 25, 2013 6:25 pm

Try Bank of America secured Visa.

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FastSRT8
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Postby FastSRT8 » Fri Jul 26, 2013 12:28 am

Wait you mean if I were to move to the US I would have to start all over again with the green card? That alone will make me think twice!
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Vandalized2
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Postby Vandalized2 » Fri Jul 26, 2013 1:45 am

How does a US Citizen get a Canadian Credit Card ? I am going to be in Canada a lot next summer and may be staying permanently . Any suggestions?

dogblood
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Postby dogblood » Sat Jul 27, 2013 2:55 pm

Thanks for the great suggestions, I will explore them. I know I can still utilize my canadian credit cards and whatnot, however I would like to build some credit history in the US as well - be as efficient as possible in my time here.

I am here for an initial period of 3 years, and will be receiving my SSN next week. The visa I am on is considered a premium type (L1-A) this facilitates for a green card application without having to go through labor board certification.

Having said all of this, I've been to a few banks here already to inquire about obtaining a secure card, and seem to be getting some mixed messages. BofA said they can only open accounts for US Citizens, I questioned that a little bit considering I doubt I am the first resident alien to ask for a bank account - they referred me to the Patriot Act.

Looks like I have my work cut out for me, I need to open a bank account for my US payroll deposits. Any suggestions would be greatly appreciated.

Thanks much!

dogblood
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Postby dogblood » Sat Jul 27, 2013 3:01 pm

I believe the process may be reciprocal - I would suggest trying to take advantage of the AMEX global card transfer as suggested above. Otherwise, you will likely need to obtain a SIN (Canadian counterpart to the SSN) and build from scratch using a secure card to start. RBC has banks in the US and so does TD based on what I've been able to find - perhaps opening a bank account with them in the US perhaps they can help you out when you are in Canada.

Good luck in Canada, enjoy the Tim Hortons, I miss my double double dearly.

dogblood
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Postby dogblood » Mon Aug 05, 2013 2:38 pm

Update:

After bouncing around from Chase, to BofA to Suntrust - all of which would not even provide me with a secured credit card to establish credit, referring me to the patriot act .. I did some research and tried my luck at DCU (Digital Federal Credit Union).

I filled out my checking account application online, as well as a loan application for the unsecure VISA platinum rewards card.

Within 20 minutes I had received a call back, verifying some employment information, and voila -- APPROVED for 3k initial credit limit.

I must say, it was refreshing working with this CU and it was quick and painless, considering my SSN is 8 days old I am very pleased to not have to go through the capOne secured route.

Hope this post helps someone in a similar position!



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