Hello,

I am a dual Canadian-American Citizen and have a Social Security #. I haven't lived in the states since I moved from there with my family as a 4 year old toddler. I have lived in Canada since I was 4 years old until now. I am currently an undergraduate student in a canadian university and have plans to move back to the homeland down south to complete my post graduate degree in about a year. Since I have only lived in the states upto the age of 4 I ofcourse have NO CREDIT established. What would you guys suggest for me to do from now while I am in Canada and have no U.S. address to establish my credit in the U.S.? I am so lost about what to do. I will be finding out where my address is going to be in a few months (as I will be living with family while pursuing my degree). The reason why I want to develop my credit is so I can get a credit card almost immediatly when I get down there and possibly get a loan for school. My credit in canada is ok since I am only 20 I haven't done much to develop it.

What should I do


Thanks,

CanadianAmerican85 :)

One more thing.

I have registered to vote from canada and sent some form to do it where I entered my SS number and address when I used to live in the U.S. The problem is I sent the form once and it got "lost" in the mail. If someone got a hold of it should I have any reason to worry about identity theft occuring? As it has by Social Security number and prev. address as well as current address in canada. Are these 2 pieces of info enough for one to commit identity theft?

Sorry for all the questions guys. Thanks for your patience


Thanks,

CanadianAmerican85

Hmm

Ok ill answer your credit question as that is something i have considerable experience with. My wife and i are both Canadian Nurses who came to work in the US. We had to reestablish credit here. This is how it goes.

1) It isnt easy. Your best bet is to call your Canadian CC company and ask them if they can call their American counterpart and help you secure a credit card.

2) Buy a car. They will sell you one and though the interest rate wont be the best, it a reportable credit source.

3) If you cant get a Car or a CC then you will have to talk to a bank about getting a "secured" credit card. That means you put 500$ in a secure account (you cant touch it) and they give you a CC for 500$. Sounds stupid but it allows you to have a reportable source of borrowing your own money. After about 6 months they give you the 500 back.

4) Even after you have credit establish, you will be plagued with an "Insufficent Credit History" for about 5 years. All that means is that you wont get the rates you might expect from an excellent credit score as they value long term accounts highly and you wont have any to reference.

5) Dont bother asking people to check your canadian credit, they wont. The systems are 100% seperate and never cross. If someone offers to do it (sometimes car dealerships are willing to go out of their way) then you might be in luck. On the otherhand, your Canadian credit doesnt mean jack to them so its a catch 22.

In anycase, get in with a Bank ASAP. The sooner yer apart of an american bank system with money in an account the quicker you can get the process started.

Thanks so much for the info Mike.

I really appreciate it.

Thanks Mike

What do I need to open up a chequing account in the United States. I have my SS card, us passport (current) and birth certificate and an address where I will be staying. But unfortenetly no proof of address like a bill or lease agreement as I am living with family and will not be paying any bills.

What can i do?

BUMP.
Can someone please help me with my previous reply :)