I will be moving to the US from Canada soon and have researched what I could find on trying to establish a new credit history in the US and the frustration people usually end up having. I have applied for a TD GM VISA as I have read that this is one of the few cards that they will convert to a US Charge Card. Can anyone with this experience explain the details on this process? Also, with my current charge card, Capital One, can I keep this account open when I move for the short term, or am I forced to clos this account immediately? Any help or nput anyone can provide on the best measures to take to try and establish a new credit history ASAP in the US is gladly appreciated.
The newest Detroit suburb ...... Windsor!
Credit Cards & Establishing Credit
Moderator: Mark T Serbinski CA CPA
You are doing the right thing, applying for a credit card that will convert to a US card. Do not close your Capital One card. Just change your address with them. It is very handy to keep Cdn credit cards on the go - for visits, Cdn on-line purchases, etc. Even if your new Cdn credit card can be converted to a US card, it will take a while (maybe 6 months) to get into the "system". And many places will still deny you credit because of too short a credit history.
For some reason, I didn't face this credit history problem - probably because after moving here I kept my job and used all my build up vacation where I was able to claim the Canadian employment income as my source. And I got 2 CC in 2 weeks.
With MBNA MC and CIBC Visa - I had problem in changing to a US address but while applying in USA, MBNA did recognize my Canadian Credit history and help me establish a new one in USA. They simply asked for my Canadian SIN and DL#.
With MBNA MC and CIBC Visa - I had problem in changing to a US address but while applying in USA, MBNA did recognize my Canadian Credit history and help me establish a new one in USA. They simply asked for my Canadian SIN and DL#.