Getting a Canadian Credit card to help credit in the US?

[ashley_n_h]

Hey, Just wondering if this sounds like a good idea, or if it's even possible. I've been in the states for almost a year and half now, and stillc an't get a credit card with a limit about $1000 (and that was a pain to get). I'm wondering what would happen if I got a Canadian credit card (ex: AMEX in canada) and then tried to use that in upping the limit on my American AMEX. I already have a Canadian card but it's with BMO, who as far as I know, doesn't have an affiliate in the US.

Any thoughts/ideas?

[Reba]

Canadian credit ratings don't tend to affect US credit ratings in any way shape or form. The only way it might help you is if you have a current AMEX Canada card, and were to then transfer it to a US$ account. Sometimes they will keep your credit limit at the converted $ amount. So if your credit limit on a Canadian card is $4000, they would do a conversion at that day's rate, and issue you a card with the US $ equivalent. And with the Canadian dollar tanking right now, this may or may not help at all.

If you are no longer a resident of Canada however, I don't know that AMEX Canada would even issue you a card.

[canuck_in_cali]

There is no way to bring credit to the US. This is what we did over the past year and have now been able to secure a reasonable amount of credit.

Opened a chequing account at an American Bank
Took out a secured visa card
Opened utilities accounts, water, hydro, cell phones
Set up automatic payments from employers (our bank thinks this is more legit than paycheques)

From what I have learned it's good to be careful how often you apply for credit. Each time you apply, someone checks your credit history and that goes on record. Too many hits and your credit rating goes down.

Check out Chase, they offered us the highest limit we have managed to get so far.

Good Luck!

[flames9]

Many institutions CAN check your cdn credit, but they rarely do so! I have hear many of transferring their CDn American express to an USA one. best of luck

[RevRandy]

When I first applied for a US Credit Card, Wells Fargo did a credit check on me in Canada. As that was approved, since then whenever I seek something (cell phone etc.) they only run my US SSN.

[Steven]

Harris Bank is the US branch of BMO, doubt that will help though, I don't think they have any branches in Washington.

But yeah, secured credit cards are simplest, provided you can maintain a significant cash balance in your checking account.

How I did it was to get a credit card from the phone company, they based my credit level on my reliability of paying my phone bill, not sure if they can still do it that way, that was years ago.

Fortunately nowadays in the US they have debit cards that work the same way as credit cards (unlike Canada's totally crap Interac system), so it's never really caused me a problem since. I.e. you could take out a loan in Canada, transfer the money to the US, pay off the loan in Canada and just spend the money via your debit card.

Or alternatively, you could take out a loan in Canada, transfer it to your US bank account and use that to secure your US credit card.

[kelapstick]

When I first applied for a US Credit Card, Wells Fargo did a credit check on me in Canada. As that was approved, since then whenever I seek something (cell phone etc.) they only run my US SSN.

When I opened my account with Wells Fargo in Nevada they would not give me an unsecured credit card. They said "Wells Fargo will not give unsecured credit (card or loan)to a non-permanent resident" (i.e. green card holder), and they would not check credit history in Canada (at the time we even still had a mortgage in Canada).

However we were approved for a vehicle loan with a credit union, so that may be an idea to pursue.