Speculation: Some Cross Border Banks Report Credit Cards information to Canadian Credit Agencies

[Publius_Cornelius_Scipio]

This is a founding based on our experience and some feedback from other members. [If you have some stories to share, please tell me so I can develop a list of credit cards as a reference for future settlers from the U.S.A.]

We had a Nordstorm credit card issued by TD Bank, a U.S. national bank and subsidiary of the Canadian multinational Toronto-Dominion Bank. We found that our Nordstorm credit card has been indeed reported on our Canadian credit report after address update and in-person ID verification.

Our founding is that some financial institutions that issue U.S. credit Cards, would report the information of your U.S. card to the Canadian credit agencies after your address update.
The list includes but is not limited to:

• Nordstrom credit cards issued by TD Bank, NA.
• Macy's credit card

This may be moderately helpful for new settlers from the U.S.: More reportings of credit card information would increase your credit score when you have a very short credit history in Canada. In our case, it is a difference of 30 in the total score.

 

[Copingwithlife]

This is nothing new . I worked for a large US airline for years , and got a credit card thru a US bank connected with the airlines credit union based in Chicago, though i live in Canada . The credit card appeared on my credit report here in Canada , and that was about 25 years ago

 

[kast29]

Yup my US MAcys card was on my Canadian credit report

This is a speculation based on a single incidence. If you have some stories to share, please tell me so I can develop the theory for future settlers from the U.S.A.

We had a Nordstorm credit card issued by TD Bank, a U.S. national bank and subsidiary of the Canadian multinational Toronto-Dominion Bank.

We found that our Nordstorm credit card has been indeed reported on our Canadian credit report after address update and in-person ID verification.

Our speculation is that some Canadian banks that also do credit card business in the U.S., would report the information of your U.S. card to the Canadian credit agencies after address update, at least for some of their credit cards. The list definitely includes Nordstorm credit cards issued by TD Bank, NA.


This may be very helpful for new settlers from the U.S.: More reportings of credit card information would increase your credit score when you have a very short credit history in Canada. In our case, it is a difference of 30 in the total score.

 

[Publius_Cornelius_Scipio]

This is nothing new . I worked for a large US airline for years , and got a credit card thru a US bank connected with the airlines credit union based in Chicago, though i live in Canada . The credit card appeared on my credit report here in Canada , and that was about 25 years ago

Thanks.

I had no idea. TIL

 

[Publius_Cornelius_Scipio]

Yup my US MAcys card was on my Canadian credit report

Thank you for providing the name of the card. I added your card to the list.

 

[mbaleine]

What did you mean by "address update"? Changing the billing address to a Canadian address?