Credit Cards Prob
- Thread starter NewYorker
- Start date
hi
us and canada have pretty much the same system of credit and i guess it will affect your credit record once in canada but in my best knowledge not your application. what will happen if you ever decided to come back to us ...i cannot tell. make your choice and be ready to bear the consequences in the future. it allways been good to stay on the safe side.
us and canada have pretty much the same system of credit and i guess it will affect your credit record once in canada but in my best knowledge not your application. what will happen if you ever decided to come back to us ...i cannot tell. make your choice and be ready to bear the consequences in the future. it allways been good to stay on the safe side.
i will set aside money for my monhtly credit card payment for a year. who knows you might use your credit card(USA) if you have some emergency situation in canada. hope this one will help you.
The US and Canada have some of the same credit bureaus and some of the same banks but I have still heard people say that credit doesn't follow you. The US credit bureaus will use your name and SSN to know who you are. The Canadian credit bureaus will use your name and your SIN. For your credit to follow you, they would have to be able to link your SSN from the US to your SIN in Canada. If you never tell them, who will?
If you have good credit and you want it to follow you, you can bring your US credit report and a reference letter from your US bank to your bank in Canada and it might have some weight. Possibly more if you have an account with US bank that also has branches in Canada.
If you have good credit and you want it to follow you, you can bring your US credit report and a reference letter from your US bank to your bank in Canada and it might have some weight. Possibly more if you have an account with US bank that also has branches in Canada.
An easy way to build credit ifast n Canada is to apply for AmEx Gold or Platinum. You can transfer your Amex from US to Canada as long as you have good US credit.
You can ask your bank to make you out a cashiers check. I don't think the government interferes with your transfering money at all. Not paying off credit cards is not even criminal. The bank is another story. If one of the credit cards you owe on is in your bank, your bank will know that you are in Canada if you transfer directly and they may suspect something. Still, they can't legally refuse to transfer your money if you are still paying the minimum on your card when you do
CANADA AND AMERICA ARE TWO DIFFERENT COUNTRIES IF YOU FOLLOW THE LEGALITIES OF TRANFERING MONEY NOBODY I MEAN NOBODY HAS THE RIGHT TO COME AFTER YOU JUST BECAUSE OF YOUR CREDIT HISTORY.
Hi NewYorker,NewYorker said:I do not want to do a fraud or anything, it is just like people file Bankruptcy.. I just can't pay. But when I take money from here and transfer, the Govt. may ask as where are you taking this as you haven't paid the credit cards. So how do they transfer the money from US to Canada beside a bank transfer? The big brother is always watching.. and I can't take $$ in my pockets.
Don't know what to do, Oh well... the time haven't came yet.. but I agree with your response as the credit won't follow unless you tell them that you screwed up in the US.
I am in the same boat and have received my visa but very upset due to my loans and credit cards bills, over the past few years i have been paying most of my income from two jobs to these debts. Now if i move to Canada i do not think i would be able to pay, one main reason is conversion rate, i mean pound sterling is twice in value against cad$. I wonder if i just do not pay it might affect my PR, as a result i m on anti depressants now.
Chau
I spoke to my bank to consolidate my loans over longer period of time so that i could manage it, BUT they refused, hence leaving me no other option but say good by and catch me if u can. However, i would pay them as soon as am established in Canada. Hope this will not cause any problem to PR.
I don't know how CIC would find out that you have credit card debts, but if they do, they could see that your motivation for going to canada is to avoid paying your debts. in that case, CIC could believe you would attempt to do the same in Canada - borrow money and then leave. then, yeah, they could deny you permission...
but I don't know how they'd find out, I don't know if they request any documents that show you have debts...
but I don't know how they'd find out, I don't know if they request any documents that show you have debts...
C
cchabert
Guest
When my brother in law left for Canada he open an account and transfer the money to the American bank and continue to paid the credit cards, the minimum at least, he told me that I tried to do the same thing, of course he didn't have a big debt like me, but in the worst case he mention that the credit companies are not connected together.
The main reason he wants me to keep the good credit is because I can pull my credit report and show it in Canada to ask for better interest rate instead of start from cero building your credit when you cross the border, some companies recognize the credit report from US.
Well in the mean time I'm doing the minimums I'll see what happen when I land on Canada, I'm more worry about having the settlement funds ready when CIC ask for them that the credit cards debt.
The main reason he wants me to keep the good credit is because I can pull my credit report and show it in Canada to ask for better interest rate instead of start from cero building your credit when you cross the border, some companies recognize the credit report from US.
Well in the mean time I'm doing the minimums I'll see what happen when I land on Canada, I'm more worry about having the settlement funds ready when CIC ask for them that the credit cards debt.
good day to all.. i am planning to move to canada hopefully by next year. i have credit cards, house and car payment made every month here in the US... right now i am paying them on schedule... because i want to maintain a good credit and also as what you said it is better to have a good credit once you crossed the border.. my problem is.... since i will be moving to canada and i have a debt like that do you think it is better to start a new one(credit history) i know it is hard again to start from zero, and company take advantage of that.. let say if i told the credit company in canada that i have a credit history, are they going to check my history electronically or do you think copy of your credit history from three credit reporting agencies are good.
if i move to canada my house payment will be defaulted as well as my car payment. selling my house is not my option because of the current situation here in the US... i don't know if i can bring my car to canada or just leave it to the bank properties and go..... i can manage to pay my credit card....
if i move to canada my house payment will be defaulted as well as my car payment. selling my house is not my option because of the current situation here in the US... i don't know if i can bring my car to canada or just leave it to the bank properties and go..... i can manage to pay my credit card....
C
cchabert
Guest
Same boat her man, my house is on sale right now, if it doesn't sale by the time I go to Canada I have 2 options:
1.- Return the keys to the Bank
2.- Put it on rent
I'll see when the time came.
The car:
1.- One is already paid in full so I can take it with me, but I'll sell it too, very long drive from Georgia to Alberta, save money is the slogan right now.
2.- The second one I'm still doing payments and my last payment is on 2011 so means I'll return the keys when I got my PR, you can't win always.
Credit Cards & Bank Loans:
Keep paying the minimum as much as possible, maybe when I travel I'll miss one month because the settle stuff, who knows, worst case? Don't paid and leave with that.
When my brother in law bought his apartment they want to gave him a high interest, then he ask "can you check my US credit history?" and the guy said yes, he didn't bring a paper credit report, the sales guy check some place online and gave good rate.
Is just a matter of luck, but I'm prepare to start from Zero if it's necessary, new country, new life.
Peace!
1.- Return the keys to the Bank
2.- Put it on rent
I'll see when the time came.
The car:
1.- One is already paid in full so I can take it with me, but I'll sell it too, very long drive from Georgia to Alberta, save money is the slogan right now.
2.- The second one I'm still doing payments and my last payment is on 2011 so means I'll return the keys when I got my PR, you can't win always.
Credit Cards & Bank Loans:
Keep paying the minimum as much as possible, maybe when I travel I'll miss one month because the settle stuff, who knows, worst case? Don't paid and leave with that.
When my brother in law bought his apartment they want to gave him a high interest, then he ask "can you check my US credit history?" and the guy said yes, he didn't bring a paper credit report, the sales guy check some place online and gave good rate.
Is just a matter of luck, but I'm prepare to start from Zero if it's necessary, new country, new life.
Peace!