Canadian credit history when relocating to California

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shaulCanuckAbroad Regular
Topic author
Posts: 30
Joined: 7 Jul 2009

Canadian credit history when relocating to California

Post Thu Jul 09, 2009 9:46 am

I was wondering if there are banks in California who accept Canadian credit history when applying for mortgage and credit card?

If I have Canadian AMEX, can i switch it to be American after i move with same credit limits I had in Canada?

If I have Canadian Citi bank checking account/credit card , will it be easier to get morgage in California and move accounts/credit cards from Canada?

Any Canadian banks operating in California?
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StevenCanuckAbroad VIP
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Joined: 28 Sep 2007
Location: Calgary

Re: Canadian credit history when relocating to California

Post Thu Jul 09, 2009 11:31 am

The usual trick is to switch your Amex account over.

Failing that use a secured credit card, most banks offer them, i.e. your credit limit is what you have in your chequing account.

The general impression I get reading through the posts on here is that even if the bank does bother to check your Canadian credit history, they place less and less emphasis on what it says so I suspect at some point it will be virtually worthless, other than to show them that you haven't got a bad credit history at least which should be worth something.

Various people on here have said Bank of America is the best bet (at the moment). Probably a good idea to call them and ask the question.
Steve.
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shaulCanuckAbroad Regular
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Joined: 7 Jul 2009

Re: Canadian credit history when relocating to California

Post Thu Jul 09, 2009 11:43 am

But as far as i know Bank of America doesn't have branches in Canada, but Citi bank does?

Does Amex give mortgages?
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DremaniCanuckAbroad VIP
Posts: 340
Joined: 10 May 2009

Re: Canadian credit history when relocating to California

Post Thu Jul 09, 2009 1:02 pm

There is a TD Ameritrade and RBC Centura. Just type in your zipcode to find the location nearest to you.
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shaulCanuckAbroad Regular
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Joined: 7 Jul 2009

Re: Canadian credit history when relocating to California

Post Thu Jul 09, 2009 1:19 pm

RBC Centura - 1,906.25 miles away :( and tdameritrade looks like doesn't have credit cards/mortgages and it's major goal - investments
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DremaniCanuckAbroad VIP
Posts: 340
Joined: 10 May 2009

Re: Canadian credit history when relocating to California

Post Thu Jul 09, 2009 1:57 pm

Various people on here have said Bank of America is the best bet (at the moment). Probably a good idea to call them and ask the question.


I'm sorry the banks I provided were a no go for you.

I have to agree with the what everyone else is saying about Bank of America. I know many of my neighbours here are from Montreal and one of them mentioned to me that BOA was the only bank willing to give him a mortgage. The downfall of that since he and his wife aren't residents, high interest rate due to lack of credit history in the U.S. and high property tax. Homestead exemption would've been an option if they were residents but this is only in Florida state.
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lurkingfearJunior Member
Posts: 17
Joined: 25 May 2009

Re: Canadian credit history when relocating to California

Post Fri Jul 10, 2009 4:58 pm

I just got a CC with Bank of America with no American credit history. The trick is to apply, get rejected, then send them all your documentation of employment, income, work visa, etc. (there will be an address included in the rejection letter). Include your SSN, and it may help if you have a CC with MBNA Canada, as they are owned by BoA. The people on the phone cannot help with this so don't waste your time. Mail is the only way.
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StevenCanuckAbroad VIP
Posts: 3637
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Joined: 28 Sep 2007
Location: Calgary

Re: Canadian credit history when relocating to California

Post Sat Jul 11, 2009 10:13 pm

They offer secured credit cards, probably the fastest way as far as that goes.
Steve.
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shaulCanuckAbroad Regular
Topic author
Posts: 30
Joined: 7 Jul 2009

Re: Canadian credit history when relocating to California

Post Mon Jul 13, 2009 8:21 am

Now is another question ... I already have AMEX for years, however, if even AMEX will accept my canadian credit history..... in 6 month - 1 year, we are planning to buy house... so I'll need to get mortgage... and I don't want to have too many credit cards... so I'm thinking to get here in Canada Citi or MNBA credit card
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Reba

Re: Canadian credit history when relocating to California

Post Mon Jul 13, 2009 4:21 pm

MBNA doesn't exist in the US anymore, it was bought up by Bank of America a few years ago.

AMEX will let you transfer your Canadian $ credit account to a US $ credit account. Check their website for info.
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