Will my credit history follow me to Canada?

[cbellyoung]

I have a really good credit score and history and would like it to follow me to Canada when I move. Alot of website are telling me that credit history doesn't transfer to another country.

Is this true? If so, would I have to start building it from scratch again when I land?

 

[taffy7]

Yes its true , the only thing that might up is if you have car insurance and you get a printout of the insurance no claims statement. Other than that its starting from scratch.

 

[truesmile]

Start from scratch. My good credit rating has nothing to do with my clean (or not so clean) driving record, the banks couldn't care less about that.

 

[taffy7]

I was thinking more that if they could provide some insurance documents it might up getting a lower insurance, won't help with credit.

 

[OhCanadiana]

I have a really good credit score and history and would like it to follow me to Canada when I move. Alot of website are telling me that credit history doesn't transfer to another country.

Is this true? If so, would I have to start building it from scratch again when I land?

Yes, but ....

I would take print outs of your current history and speak with the branch managers of whatever bank you decide to establish your accounts with. They often have flexibility to, for example, authorize credit cards and such to help you re-establish your history. If you open up multiple ones (and put charges and pay them off monthly) you should be able to quickly build your Canadian credit.

Also, depending on your personal circumstances, specific organizations will consider your foreign credit. For example, consider opening an HSBC Premier account before moving. They can help you open a Canadian account as part of their services considering your existing (foreign) credit. Once you're in Canada, you can switch your 'Premier' account to Canada. Also, AmEx allows Gold card holders and up (IIRC) to transfer their credit and open a Canadian account if they have a foreign account in good standing and are moving.