Establishing US credit and getting an apartment?

YUP5588
New Member



Joined: 26 May 2008
Posts: 5
Location: Vancouver

Posted: Sun Jun 01, 2008 12:02 pm

 

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Just wondering, when I move to the US I will have no US credit history - what's the best way to go about establishing and building a history? And how can I apply for my first apartment in the US if I have no credit history?

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flames9
Senior Member



Joined: 08 Mar 2007
Posts: 103
Location: Falls Church VA

Posted: Sun Jun 01, 2008 12:59 pm

 

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Many say that an in Canadian American Express card can be transferred to a USA one, just have to phone their 1800#. My spouse is a USA citizen, so she just added me to the bills. All seemed to work

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Steven
CanuckAbroad VIP



Joined: 28 Sep 2007
Posts: 1068
Location: Calgary

Posted: Sun Jun 01, 2008 3:04 pm

 

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Secured credit card, i.e. you open a bank account with the bank where you apply for the card, and they give you credit up to the amount in your bank account. After awhile they will trust you with a regular card.
_________________
Steve.

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boscanuck
New Member



Joined: 01 May 2008
Posts: 7

Posted: Mon Jun 02, 2008 11:16 am

 

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Royal Bank of Canada has an american subsidiary, Centura Bank, its as simple as making a phone call to get an american credit card if you have a RBC account or credit card.

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cimit
New Member



Joined: 27 Mar 2008
Posts: 9
Location: Exton, PA

Posted: Tue Jun 03, 2008 7:06 am

 

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I moved to the US last year and was in the same position. One good thing was that my company had relationships with local apartment complexes and so as a preferred employer in the area, I got a bit of a deal (no application fee, reduced 1st month rent) for my apartment. You may want to ask your company if they have established themselves in this way.

When I applied for my apartment (PA) they did a background check and verified I had a bank account (which I got the morning I applied). So I was accepted, along with my verification of employment from my preferred employer.

As for credit, I am one who is using the RBC Centura services. I have a Visa check card with them, and once the CDN dollar started soaring last year, I asked them about obtaining a US credit card. Since I had the RBC account in Canada and maintained a Canadian credit card, they used my Canadian credit hiustory to get me approved. The RBC Centura customer service people were very friendly (was actually a Canadian that I dealt with) and I got my Visa credit card very fast after applying and being accepted.

The other bonus with an RBC Centura account is that through web banking, you can transfer money between countries and it is accessible right away. Prior to having a Centura account, I had to write a check to myself from my US bank and deposit into RBC account in Canada, who had a hold on the check for 15 business days. So this is a nice feature. I think TD might offer the same service, but I am only familiar with the RBC service.

Hope this helps.

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perkyj
CanuckAbroad Regular


CDN in Illinois

Joined: 21 Mar 2008
Posts: 74
Location: Illinois

Posted: Tue Jun 03, 2008 9:48 am

 

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Does anyone know if CIBC has a similar American bank?

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YUP5588
New Member



Joined: 26 May 2008
Posts: 5
Location: Vancouver

Posted: Tue Jun 03, 2008 11:19 am

 

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The RBC Centura idea songs good - maybe I'll look into that.

All of my banking / investments are through TD and would like to stay with them - so maybe I'll see what they offer.

Does anyone have any advice for investing in the US? My company offers matching on 401k and Roth 401k as well as stock option purchasing, so I'll go that route - but is there anything else I should look into contributing to?

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