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| Subject: Credit History in Canada |
I have a good credit history established living in US. When I move to Canada what will happen to all my credit cards and good credit? Will I loose them, and have to start from scratch, or can I transfer them for use in Canada? Any thoughts?
[28-12-2004,01:32]
Nail Gunner |
(in reply to: Credit History in Canada)
Well IHMO, International credit cards usually works well there, (just change the billing address) also most US banks has a branch in Canada.
Cheers
Neo
[28-12-2004,05:39]
NeoDelphi |
(in reply to: Credit History in Canada)
I know Visa and MS work there well, but that´s not the issue. The Issuing bank in US will not deliver statements to a forein (Canadian) address, that´s the problem.
[28-12-2004,12:17]
Nail Gunner |
(in reply to: Credit History in Canada)
I had the same situation when I moved here. I had a US Capital One account when I lived in US. Surprisingly Capital One in Canada has a program where I could close my US account and transfer it to Canada. I´ve had it a year and now because I have an established credit, my bank and AMEX have offered me credit. Another option, that I didn´t try, is MBNA. I know in the US they are very generous in giving credit. I;m guessing they may be the same here. Also, most credit cards will close your account once you change the address to a Canadian address.
Let me know if you need anything else.
[28-12-2004,19:10]
Texas |
(in reply to: Credit History in Canada)
Thank you Texas. I also would like to know if "american" credit points will count towards a purchase of the home in Canada? In other words, when mortgage lenders measure your credit worthiness, will the US good credit score count? Any idea? Thanks!
[28-12-2004,20:02]
Nail Gunner |
(in reply to: Credit History in Canada)
The same three credit management services companies are in canada too. Your US credit history will stand good if you want to buy anything in canada. All the american issued cards are valid in massage parlours, strip and nude bars Good luck.
[28-12-2004,21:20]
Anonymous |
(in reply to: Credit History in Canada)
What if I filed bankcruptcy in the US, will that affect my credit in Canada?
I guess , it will, just want to get some confirmation from those who have more info.
[28-12-2004,22:16]
Anonymous |
(in reply to: Credit History in Canada)
You answered your own question. You can hide, but you cannot run!
[28-12-2004,22:56]
Anonymous |
(in reply to: Credit History in Canada)
I haven´t gotten to the point of purchasing a home yet.
I would think for such a purchase, your US credit will help. Like another person said - the major credit bureaus are the same in Canada as in US, so you know the records could be accessed if needed.
[29-12-2004,00:12]
Texas |
(in reply to: Credit History in Canada)
Well regarding buying a house, I have this idea: if the house costs $200 grand, put down a 100 grand. I bet most Canadian lenders will flock to loan ya money! In case you default, they got their loan coevered! Be ready to put down at least 50% of the price. If you can´t put that much down, maybe it is not a good idea to move to Canada. Remember, Canada is not a place to make money; it is slow static economy with semi-rundown infrastructure and huge social programs. In case you ain´t got enough funds to buy at least 50% of property right away, stay on in the US and look for fast bucks.... and SAVE.
[29-12-2004,11:52]
american refuse |
I have bad credit (in reply to: Credit History in Canada)
I have not paid most of my credit cards now. I live in texas and fortunately redit card companies cannot garnish my salary. I pplan to move to Canada. Will the credit card companies and banks go after me even i already moved to canada. Will they be able to garnish my salary?
Thanks
Houstonian
[11-10-2009,20:27]
[**.130.234.53]
houstonian |
