Will my credit scores/history transfer if I move to Canada?

Question

I'm an american resident and worked long and hard to build a great credit score. Now I'm thinking of moving to Canada. What happens to my credit report and credit score? Does Canada (Alberta) use the same credit agencies? and will they transfer my credit history so I won't have to start all over again? Only people who've does this please respond.
NO GUESS ANSWERS PLEASE

I know i'm in another county, but unlike other countries America and Canada share the same credit agencies, namely Equifax and Transunion.

Well I am an immigrant to US so starting over is nothing new, i just wondered if i can trade in credit reports like they trade in drivers licence

Answer 1

It won't cleanly transfer, no. But there is hope; read on.

Canada: Social Insurance Number. US: Social Security Number.

Canadians won't _normally_ give a toss about your SSN. You'll be a blank slate with your SIN.

From Wikipedia:

"Credit history is typically local to one country. Even within the same credit card network information is not shared for different countries. For example, a person who has been using Visa credit cards issued by banks in China or Canada for many years who moves to the United States and immediately applies for a Visa will not be approved because of lack of credit history. However, bringing in evidences of good credit history from the previous country of residence will greatly help. Examples of such evidences are utility bills or credit card statements for the past couple of years.

An immigrant must establish a credit history from scratch in the new country, which can take years."

http://en.wikipedia.org/wiki/Credit_history

US-Canada isn't quite so bad because of what you're guessing at, though. Viz:

"Direct Canada Access or North American Link
Most MERit Credit Engine customers in Canada will use its capability for direct system to system access to the Equifax Canadian consumer credit database.

The North American Link credit report option provides access (from either side of the border) to the U.S. and Canadian Equifax repositories. If, for example, a loan applicant has a credit history in both Canada and the U.S., the MERit Credit Engine can provide an Equifax Canadian credit report and U.S. credit report with a single inquiry.

When a consumer has a credit history in only one country, Equifax's North American link automatically returns the appropriate credit report. Canadian credit reports are pulled automatically whenever the current or former address specifies a Canadian province."

http://www.creditengine.net/equifaxcanada.htm

You'd be in for some explaining with every creditor you dealt with, but I expect it could be done. Still, you might run into "Why should I care? Default here, and you'll just run back to the US," but _that's_ purely speculation on my part.

Answer 2

When my friend from West Virginia moved to Toronto, her great credit ratings/Hx wasn't transfered, but if you apply for a credit card when you get to Canada, they will eventually ask you if you have had previous credit card/s and from there they will sometimes base your acceptance, well assuming that you're working and or got large sum of money on your account. I know for a fact that if you move to US from Canada, your credit history won't be transferred. Canada and US does use both Equifax and TransUnion credit rating checks companies.

Answer 3

Your history will remain the same. You don't lose your identity by leaving the country. If that were the case I'm sure a lot of people with bad credit would move!! Just because your residence changes, doesn't mean your history becomes exempt. How else would you prove who you were and what you're worth? If you moved to Germany and needed to buy a house, you would have to prove your credit as a buyer- and regardless of where you were from, you'd have to prove how you could afford the house, loan, etc.

Hope that helps.

Answer 4

there is no way for him to easily flow to Canada. They quite permit me in quickly and that i replaced into married to a Canadian! somewhat plenty, bout the only subject you're able to do in case you decide directly to start relationship is to have separate abodes real on the border, yours in Canada and his on the yank component. You adult men ought to consistently meet first and then notice for the fiancee enable so you might head there. airplane tickets are not that plenty in any case. the two that, or you should marry him, notice for a customer enable for him to stay in Canada. yet, he'd could desire to proceed to paintings interior the U. S. and have evidence that he had a activity interior the U. S.. if so, you will additionally could desire to stay in a border city.

Answer 5

It will move with you you lucky person.Be assured

Answer 6

no cos ur in another country