Cross-Border US Banking and Credit Cards Mega-Thread

CorSter wrote: ↑If I were emiabe, I would just try filling out the TD Credit Card application and faxing it in - they'll likely accept it without having a bank account.

Thanks for the suggestion, but the TD credit card application form says, "If you do not have an existing TD Bank, N.A. relationship, please visit any TD Bank Store location and apply in person."

emiabe wrote: ↑Thanks for the suggestion, but the TD credit card application form says, "If you do not have an existing TD Bank, N.A. relationship, please visit any TD Bank Store location and apply in person."

he is saying that the TDUS account thing might not be a hard/firm requirement. Never hurts to try

angel_wing0 wrote: ↑he is saying that the TDUS account thing might not be a hard/firm requirement. Never hurts to try

I applied using a completely different address than the one listed on my TD US account and was approved (just filled the form out and faxed it in). Of course, I then had to go through the hassle of getting TD to merge the two accounts

I get the impression that the Credit Card division of TD Bank US operates somewhat separately from the rest of the bank, and they don't talk to each other very often.

angel_wing0 wrote: ↑(1) Correct

(2) afaik, u dont have to. But it'll certainly help if u want to transfer money between usa/canada accounts.

(3) RBC can be done inside any branch.

Thanks angel_wing0 for responding.

Is it possible to get (US-based) RBC Credit Card only, without bank accounts?

If you were to just compare RBC and TD for credit card only, which card would you recommend? (I read somewhere RBC is fee-heavy, so maybe they will start charging annual fee later on, ease of getting cash back, etc…)

TD offers 3 CCs - I prefer cash back so I would choose Cash Rewards CC. Any comments?

emiabe wrote: ↑Thanks angel_wing0 for responding.

Is it possible to get (US-based) RBC Credit Card only, without bank accounts?

If you were to just compare RBC and TD for credit card only, which card would you recommend? (I read somewhere RBC is fee-heavy, so maybe they will start charging annual fee later on, ease of getting cash back, etc…)

TD offers 3 CCs - I prefer cash back so I would choose Cash Rewards CC. Any comments?

on the website, looks like u can just apply without a rbc-us bank account.

Roger3592 wrote: ↑You can check your credit for free in America just use credit karma I used my name,USA address and Canadian SIN(I think it would work fine if you just used zeros ) then it ask some info about my credit,did I have a car load and stuff and after it gave me my credit score( it was defenently mine), it was weird after five months of using one credit card and always paying the balance in full I have a score of 752 hehe.

I would like to get a free annual US credit report online. Would someone recommend a web site that is legit & secure?

Also, how long should one wait after a credit card account closing (to ensure an updated report)?

Thanks.

mikeymike1 wrote: ↑When you apply for a credit product outside the country you are born in(without work visa, landed papers etc) they first and formost will try pull domestic bureaus. If you have a SSN your US based bureaus will not share or have same data as what you have on Canada's bureau systems. Predicated on the credit product you are seeking and/or your social status and employment and tenure an international bureau may be requested. This is same for overseas bureaus. To get an international bureau we can contact one of our bureau partners such as Wescot Decision Systems in the UK and inquire about a client looking to buy property here etc. We don't have direct access to other bureau systems. His same goes for everyone else.

Hi mikeymike1, I am wondering if you could answer my questions ...

After posting similar questions in another thread (US Banking and Credit Cards for Canadians), I just found this thread, which seems more appropriate ...

I would like to get a free annual US credit report online. Would you recommend a web site that is legit & secure? (This is for a Canadian with SSN who had a US-based CC for a couple of years, now the account is closed.)

How long should one wait after a credit card account closing (to ensure an updated report)?

I heard a US credit analyst telling me that when the billing address changes to a foreign one, then the credit history would not be updated until the person returns to the US. Would you elaborate on this? I mean, the final part of the 2 years, he had Cdn address ... Does that mean he won't get 'credit' for those final months even though he was paying the balance in full?

Thanks.

KingKuba wrote: ↑If you have no U.S. SSN you have no US Credit.

Simple as that.

There are people in the U.S. who make 100k/year, have 100k cash and have perfect credit from a previous country and still can't get a $500 CC on their U.S. SSN

That is 100K in cash, without reporting taxes to IRS. I am not sure how you can make 100K/year without a SSN in the US legally. The key is to get a SSN and you need around 1.5 to 2 years of reporting before you can get a US credit card ( the better ones, I've heard the hardest is CITI).

the other way to do it is to get a secure card (that is basically you put $500 into the credit card and you use it). it will start the credit reporting

emiabe wrote: ↑Hi mikeymike1, I am wondering if you could answer my questions ...

After posting similar questions in another thread (US Banking and Credit Cards for Canadians), I just found this thread, which seems more appropriate ...

I would like to get a free annual US credit report online. Would you recommend a web site that is legit & secure? (This is for a Canadian with SSN who had a US-based CC for a couple of years, now the account is closed.)

One thing you should to be aware of is that the bureaus in the US are very different than the bureaus here in Canada. Two different systems two different countries.
Though its known that Canadians can hold US credit products and Americans can hold Cdn credit products be mindful the credit scoring agencies are not the same and each financial institutions CC may report differently.
If you we're to try access your US credit report be advised you should use your last known 'US' address and SSN(of course) or your request may get bounced or worst case scenario be flagged for possible fraud activity if you're requesting multiple times with a Cdn address and other Cdn personal data.

emiabe wrote: ↑ How long should one wait after a credit card account closing (to ensure an updated report)?

I heard a US credit analyst telling me that when the billing address changes to a foreign one, then the credit history would not be updated until the person returns to the US. Would you elaborate on this? I mean, the final part of the 2 years, he had Cdn address ... Does that mean he won't get 'credit' for those final months even though he was paying the balance in full?

Thanks.

Reports can be anywhere from two cycles up to 6. Because you've closed an account don't expect merchants/CC companies to expedite any reporting data quicker than if the account was still open. Its sad but that's just the way it is. It sometimes takes us 4-6mths to update paid off and matured installment loans so apply same expected time limits to revolving CC companies.

For international credit products each CC company treats their reporting differently. There's no set policy that all must adhere to.
For some US cards obtained in the US notations may be made on internal files of international address. This must be done so that fraud alert notices are not set off in the instance there's continued usage outside the country of origin.
Some credit cards are designed to be applied for and held by international customers and will report to the clients homeland bureau but may not report to the original banks US bureau.
The US credit analyst you spoke to may be incorrect. All charges made on your credit card should be reported to the corresponding credit bureau that the financial institution is bound to report to. This does not matter whether you're still living at a US address or moved to Canada or overseas for any period of time.
If its strictly a US card you may experience issues where the card may possibly be frozen after numerous transactions once you moved to Canada. The CC company does this to force you to call them and advise them you've moved, relocated due to employment etc etc. They will release it once they know your situation and more than likely they make internal notations of alternative address.

craftsman wrote: ↑As a follow-up, I talked to my branch and it turns out that you can't get this account with a Preferred Checking Account with RBC USA.

However, you can get the Money Market Investment Account with the same features including the 6 free checks a month but without the higher interest rate for balances greater than $10,000. I realize that not what the website says but I verified it with RBC USA and opened this account.

So, what I did was:

In Canada-
1. Open a CDN Day to Day Savings account so that I can get access to Online Banking.
2. Open an eSavings CDN and US dollar accounts) you really don't need these but I wanted some where to park the US funds in Canada.
3. Link all of these to my Canadian Client Card.

In the US (by phone from my Account Manager's office) (took about 30 minutes once we were connected to the Account Opening Team in the US)
4. Open a US Money Market Investment Account in the US.
5. Link it to Online Banking in the US.
6. Link the US Online Banking with the Canadian Online Banking. (They walk you through how to do this as long as you provide them with your Canadian Client Card Number)
7. Transfer $1000 US into the account to prevent the monthly fees.
8. Wait for my US ATM card and checks to arrive in Canada. (should be 2 to 3 weeks)


What I got was a "feeless" set of accounts which allow me to easily transfer funds between the US and Canada with 6 free US checks per month with online access for all accounts.

My next steps is to apply for the US VISA.

Hi Craftsman...I've reviewed much of the postings to sort out what works best and your post is by far the most useful from about pp 56-65. I skipped pp 3-55.
I have one question about the RBC Royal Bank day to day savings. If I read correctly on their website, is it really just 1 debit transaction per month? Subsequent debits from this account are $2 other debits including RBC ATM withdrawal? And are there debit limits on the Money Market Investment Account? Is it 6 debit per month in this account, and then a per transaction charge after that within the same month?

borderless wrote: ↑Hi Craftsman...I've reviewed much of the postings to sort out what works best and your post is by far the most useful from about pp 56-65. I skipped pp 3-55.
I have one question about the RBC Royal Bank day to day savings. If I read correctly on their website, is it really just 1 debit transaction per month? Subsequent debits from this account are $2 other debits including RBC ATM withdrawal? And are there debit limits on the Money Market Investment Account? Is it 6 debit per month in this account, and then a per transaction charge after that within the same month?

Hi Borderless,

Thanks for your comments!

Keep in mind that this is a method to do easy banking in the US. It's not for daily banking in Canada! In fact, RBC has the WORST fee structure in the fact that you can't get a fee plan that will waive any sort of monthly service charge - ie. at the end of the month, if you use the account like a normal person, you will need to pay RBC something regardless of how much you have (within reason of course). I do my daily banking at BMO and carry a minimum balance so that I can get my month service charge waived.

That's correct. However, I would advise you to get the fee free VISA credit card (not the VISA debt one) and just use your account to pay the credit card off with.

Anybody has experience with Amex Blue Cash Everyday® Credit Card? It's a Cash back Card. I wanted the TD Cash Back CC but I got rejected in a harsh way.

Or if you know of any other easy-to-get US CC for Canadians. I need a Cash Back CC.

Thanks!

Guys, if I apply for the RBC Bank Visa Signature Black Credit Card and get it, can I pay it off from my TDCT US Account? Or I have to use my TDUS account?

radiko wrote: ↑guys, if i apply for the rbc bank visa signature black credit card and get it, can i pay it off from my tdct us account? Or i have to use my tdus account?

tdus.

radiko wrote: ↑Guys, if I apply for the RBC Bank Visa Signature Black Credit Card and get it, can I pay it off from my TDCT US Account?

Or I have to use my TDUS account?

no.

Correct.