US credit ratings in Canada personal/business
Waiting for PR docs (applied about 11 months ago).
I have a question, will current AAA (perfect) personal credit rating in
US help to establish credit in Canada?
Another question, if a person had terrible rating here (bankruptcy),
will it harm in Canada? Like buying house etc.
Likewise business.
If anyone had recent experience in both situations ? please let me know
Bad US credit rating has no effect in Canada. You start fresh in Canada.
That can be both good and bad. You have to start all over in order to
secure a basic credit card. Some banks are easier than others. A good
way would be to convert your US American Express to a Canadian one. They
are one of the few ones who do that. Some other companies common to
Canada and the US are - Citibank, Capital One and MBNA. They have
separate Canadian cards and many times they may not talk to their US
counterparts. But it is worth a try
Not necessarily ... My US credit rating has been pulled by a company
when I returned to Canada. As it happens, it's to my good.
If you have a good foreign credit rating, get a copy or ask your foreign
bank to get it for you and bring it with you or send it to your Canadian
bank. Get a bankers reference from your foreign bank.