credit history question.

[NYCtoNB]

I know this is going to sound silly, but does your US credit history apply when you become a PR or do you have to establish an all new one?

 

[Leon]

Banks in Canada may be able to check your US credit history if you ask them but it's better to get your credit report, print it out and take it with you when you go to the bank to open an account and ask for other services. You can also get a letter of introduction from your bank. It may help you get credit sooner.

 

[links18]

This question comes up all the time and its the same answer each time. Just like the U.S. and Canada are two different sovereign countries, your U.S. credit report and Canadian credit report are two legally distinct entities, governed by different laws. You can ask Canadian creditors to take your U.S. credit history into account, when you apply for credit, but it is up to them to do so. At no point, should any information from the U.S. show up in your Canadian credit file and vice versa. That would violate laws on either side of the border.

Can the mods set up some stickies for issues that come-up all the time like this.

 

[samrupl]

This question comes up all the time and its the same answer each time. Just like the U.S. and Canada are two different sovereign countries, your U.S. credit report and Canadian credit report are two legally distinct entities, governed by different laws. You can ask Canadian creditors to take your U.S. credit history into account, when you apply for credit, but it is up to them to do so. At no point, should any information from the U.S. show up in your Canadian credit file and vice versa. That would violate laws on either side of the border.

Can the mods set up some stickies for issues that come-up all the time like this.

that is what this wonderful forum lacks

 

[ngunja]

FYI,

I moved to Canada a few weeks ago and I took my US credit card history and score to the banker (TD Canada). He inputted my information into the system and in the notes section for the credit bureau entered my US credit info. I was approved for an unsecured credit card the next day with a $5000 limit, which I though was pretty decent considering I have no history in Canada.

Naj