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No, it does not, and this can be a benefit as well as a big problem. If you have outstanding debts, they will not report to American credit bureaus. However, this can also pose a problem if you are trying to buy a home in Another Country and you have no credit in that country. Also keep in mind: if this or a similar situation DOES occur, and you need credit, an option is to have an international credit report pulled by your lender (based on the country you are from). It may be your only option, so if you don't keep your credit in good standing in your home country, it may very well come back to haunt you! More input from FAQ Farmers: * When I first came to the US (as an adult) I had no credit history at all. American Express was very glad to issue me a local credit card with the same conditions as my foreign-issued American Express credit card. This was great since I began building a history right away.
What else can I help you with?
When you have moved to the US from Canada and have an excellent credit history will banks and mortgage lenders need your credit history if it applies in a different country?
No they won't.
Does your credit score transfer between banks?
No, your credit score does not transfer between banks. Each bank will assess your creditworthiness independently based on your credit history and financial information.
How much is the limit available for a balance transfer for your credit card?
This amount is different for everyone and depends on your specific credit card, credit history, credit card company, etc. The best way to find out what your limit is is to contact your credit card company directly.
How do you check the credit history of a foreigner?
The information from a credit history doesn't transfer. So what has to be done before the person moves is to get a U.S. bank account and try to establish some credit.
Does your credit history in the US affect your credit in other countries?
Other countries use different credit reporting systems. Credit history usually applies to only one country. Even within the same credit card network, information is not shared between different countries. For example, if a person has been living in Canada for many years and then moves to the United States, when they apply for credit cards or a mortgage in the U.S., they would usually not be approved because of a lack of credit history, even if they had an excellent credit rating in their home country and even if they had a very high salary in their home country. (Source: Wikipedia) refer to links for more information
Can I transfer Canadian Credit score to US?
No. Credit scoring companies in different companies, even if under the same name, do not share credit information from country-to-country due to information privacy laws. You will need to build credit from scratch if moving to the US, however, your Canadian bank can help by providing a reference letter.
Is it possible for you to transfer a credit card to someone else?
No, it is generally not possible to transfer a credit card to someone else. Credit cards are issued to individuals based on their creditworthiness and financial history, and cannot be transferred to another person.
Where can one compare the balance transfer rates on different credit cards?
You can compare the balance transfer rates on different credit cards on lots of websites. A few examples are moneysavingexpert, moneysupermarket, canstar and many other sites.
If you have an unpaid credit card in another country what conditions must apply before they can they report the debt to your US credit report?
CRA's in the US, report the credit history of transactions made only in the US. Therefore credit history from another country would not show up on a report in the US. This does not prevent a prospective creditor from requiring confirmation of the person's previous credit history.
Can you transfer your Canadian credit history to the US or will you have to start building it all over?
Nope. You will considered as if you were born today. No credit history in the USA? No credit given to you. It will take at least 5 years to establish your USA credit record, step by step. Jim Bunting. Toronto.
What type of balance transfer offers are available online?
There aren't a whole lot of offers available. Good balance transfer rates usually aren't given to individuals with minimal or no credit history, but to individuals with solid credit.
Where can one obtain a free credit history check?
A person can obtain a free credit history check from several different places. Some of these places include Credit Karma, Credit Sesame, and Experian.
