Credit score and personal finances in the US


Hope everyone is enjoying the holiday season! I have a few questions:

  1. Is credit score transferable from the US to Canada? I did some quick google search and the responses did not seem to be on the positive side. How important is credit score in Canada when it comes to leasing a car or applying for a home mortgage? Is there something one could prepare to help build credit score before officially becoming a PR? For instance, as Canada is fairly close to the US, once someone is fairly sure that they are moving to Canada, can they make a trip to Canada and apply for a credit card - would this help? Just wanted to learn about what one could proactively prepare in terms of building credit score.

  2. For those of you who have moved to Canada, did you keep your US bank accounts? How about investments in the US such as stocks?

Thanks so much!

  1. Credit score is not transferable according to my experience. Within the first year of arriving you can get credit cards and other credit needing things under a special government rule for new comers. So mention you are a new arrival when you goto open your bank account.

  2. You can keep all international bank accounts (unless the bank has an issue) just be sure to report them in your returns from the second year.