Credit History

[pooja123]

Does an excellent credit history in USA help in Canada in any case while starting life there?

 

[mpapdp.1984]

Does an excellent credit history in USA help in Canada in any case while starting life there?

Replies seem to be ambigious. I also had this question in mind and did some searches. Here is an interesting link

http://ezinearticles.com/?Does-Credit-History-Follow-You-Upon-Relocation-From-The-United-States-To-Canada?&id=671033

 

[jes_ON]

No, not really, although it may depend on which institution. Scotiabank has treated me like a probable criminal since the day I arrived (they wanted a 120% security on a credit card - terribly offensive for someone with a good credit history!!!). Everything is separate...

Although financial institutions have the ability to look up your credit history, it seems they don't have any guidance on how to use it. It may help if applying for a mortgage (well, not help - but bad credit may hurt).

I finally got a credit card from Capital One - online application for "new Canadians."

 

[mpapdp.1984]

A friend of mine who immigrated from the US to Canada 8 years ago told me similar stories. His car insurance was sky high in the beginning even though he had a good driving record in the US for 14 years and banks refused to give him credit cards. He even failed his first driving test at the local DMV office!!! He had to build his history from scratch.

 

[wilson]

Does an excellent credit history in USA help in Canada in any case while starting life there?

Excellent credit history from elsewhere will not be taken into consideration by most of the Canadian Banks. I tried with my HSBC credit history but did not work.

 

[me2land]

Does an excellent credit history in USA help in Canada in any case while starting life there?

No because you are dealing with 2 different countries(jurisdictions).