If you’re a Canadian moving to the U.S, you can now use your Canadian credit history to apply for a credit card, rent an apartment or take out a loan in the States—and build a U.S. credit score in the process. As you plan your move to the United States, organizing your finances is likely a top priority.

Does bad credit affect you in other countries?

Your credit scores apply to your credit history in the United States and indicate your creditworthiness as a U.S. citizen. If you choose to move abroad, your current credit score will have little to no influence on your ability to borrow money in your new home country.

Does US debt follow you to Canada?

If you’ve got Canada in your sights and you’re ready to make that move, we welcome you. If you have awful credit, the good news is that successfully immigrating to Canada will mean you leave it behind, but it doesn’t absolve you of your debts.

Is it bad to have no credit in Canada?

The problem you will have when landing in Canada is that you have no credit history – this can be as bad as having bad credit. If I were you I would apply for a credit card straight away and establish a credit history.

What’s the difference in credit scores between the US and Canada?

Like many things between our two great nations, credit scores between the U.S. and Canada are pretty similar, with just a few differences. According to Canada’s Office of Consumer Affairs, Canadians use a scale between 300 and 900, based on reporting from two credit bureaus: Transunion and Equifax.

How does international debt affect your credit in Canada?

If the lender you owe money to has offices in Canada, they could have Canadian lawyers on payroll which makes it easier for them to follow through. An unpaid debt in another country is going to show up on your credit report in that country.

Can a US citizen apply for credit in Canada?

When you apply for credit in Canada you are generally not giving the Canadian creditor permission to access your US credit file. If you make it known to your Canadian creditor that you used to live in the United States, they may ask for your permission to check your US credit file.