Is it smart to keep an American Credit Card with an American Bank if I now live in Canada?

Question

I worked in the USA and obtained the credit card while in the USA. I now live in Canada and have a Canadian credit card as well. I had planned to cancel the American card but the bank does not mind that I live in Canada so my husband wants to keep the card and use it when we travel to the USA. I wonder if this is wise or foolish.

Answer 1

I live in Canada and winter in the USA. I have both USA credit cards and Canadian credit cards.

When you use a Canadian card in the US you are charged not only for the exchange rate but also a fee for each trans action anywhere from $1.25 to $4 or $5 dollars depending on the amount charged and where.

Of course it works the other way when you use a US card in Canada.

Keep both countries cards and you will be ahead in the long run. They don't mind you having a US card in Canada just watch your due dates and adjust them so you don't have late fees on top of the rest. It takes about 9 to 12 days for the mail to go each way. Also for some reason American companies do not understand postal codes and some aren't even set up for them so that can also cause a problem.

Answer 2

hello, becareful with the bank say does not mind. This is because when you use overseas card there is going to be foreign exchange involve from canadian $ to US $. This is going to be expensive if it is on going.
If he only use it in USA, then is find. Please ask yourself again. How often he is going to use it? Weekly? Then it is okay, if it is once in a blue moon, you better cancel it.
All the best, and always read the fine print.

Answer 3

it would be better to cancel the american credit card
and have usa cash in the bank to use when u come here
thats what my uncle did
he has an american bank account and lives in canada