Credit Card?

[zentaco 28]

Before I moved to California, I contacted my bank to tell them about the move and to change my address. I even changed my credit card type and no issues were mentioned. Yesterday, I called to see if I could change my name on my card and found out from the person that supposedly I wasn't allowed to have a Canadian credit card per federal government rules because I was permanently moving to the USA. Does anyone else here still have a CAD credit card, or know more details on this? It was a bit upsetting to suddenly find this out as most of my money is still in my bank account in Canada, so my credit card was my main way of accessing it until I got my banking situation down here figured out. Fortunately I was finally able to get a bank account at a local credit union so I can wire more down here soon, but it kind of sucks that I'm apparently not allowed to have a proper credit card in either Canada or the US yet (US because I'm jobless still).

[SF2007 48]

I was unaware of this! I will contact my local bank as well. Is there a bank with an American counterpart that would allow it? It is also my main way to access the money I left in my Canadian bank account.

[zentaco 28]

Apparently you can get a secured credit card from Wells Fargo, but it's a little different in that you have to keep at least $300 on it to pay your bills, and I don't know what the limit is. Also I'm not sure that you can build credit with it. My stay with WF is a temporary one though (switching to a credit union as mentioned) so I opted not to apply.

Edit: Found the details: https://www.wellsfargo.com/credit_cards/secured/

Edited October 28, 2012 by zentaco

[Flames9_RN 358]

I know that was the case with Presidents choice! Just gave them my parents addy! I just kept the bank account--closed my Credit cards.

I believe Capital one has a CC for people with no to poor credit history

[pocheros 101]

TD let me keep my credit card. I even went in person and told the lady at the bank that I was immigrating to the USA and that I needed to update my address, etc. and then she printed off a paper listing charges that might be applied when using my credit card in the US. I have heard of other TD users being told they can't use their credit card if they're not residents, they seem to be inconsistent with it though. I wonder what their official policy is because I've been using mine here for over a year, but it expires soon and I'll have to replace it...

If it is against federal government rules, I wonder if I'll be penalized? Because the bank didn't say anything and I was completely upfront about it :S

Edited October 28, 2012 by pocheros

[VeeNDee 44]

Anyone know anything about BMO - Bank of Montreal and its credit cards? Does the same apply to them? If I use my parent's address (which is my current address) on my credit card after I move to the USA, can I still use it even if I'm not living there? Hmm... I'd like to know more about the government regulations on this. As usual it seems we get conflicting reports depending on who we ask!!

[The Mean Lady 604]

I don't know why you'd want to use a credit card in the US anyways, you're just paying fees fees fees.

[Flames9_RN 358]

I don't know why you'd want to use a credit card in the US anyways, you're just paying fees fees fees.

why would one pay fees?? Pay it off in full--Your good to go! Plus get the points!!

[Hugglebuggles 60]

How is using a credit card in the US any different than using a credit card in Canada? Its pretty much the same thing, no extra fees that I've encountered. Hubby and I have several cards that serve different purposes, points and rewards etc.

I still have my scotiabank credit card, even though I haven't used it in 3 years. I changed my info with them, and they never said it was an issue.

Like flames mentioned Capital One has a new resident card designed for people with no credit who just moved to the US. I had no issues getting approved, but I did wait until I had a job. When I moved my husband added me as an authorized user on his cards so It wasn't an urgent need. If that's an option for you, it will at least establish a credit file, and sometimes helps you start building credit... it worked for me.

[canuckbos 10]

Hmm, that's strange, I still have all my Cdn bank accounts and credit cards. My 2 banks and 1 credit union where I have these accounts have my new address in the US and it's not a problem.

I use my Cdn credit card when I'm in Canada travelling so I avoid the extra fees some banks charge for using their credit card in a foreign country. I'd think most of us will or do go back from time to time. My two Cdn credit cards are the simple ones with no annual fees to pay so I plan to keep them forever.

Also; my husband and I decided right from the start to use the currency of the country we were in and have not had to buy or sell currency and pay the bank fees. When we do need to transfer Cdn $ to the US we watch the rates and move when it's par or higher and use the credit union in the USA as they do not charge a fee.

This has worked really well for us and has saved us a lot of money which is a good thing, always!

[Flames9_RN 358]

One can't make a blanket statement--some banks care, some do not--each have their own policies!! I know my capital one CC charges me no fees while in Canada, Nor here in Nicaragua and a good exchange rate! But if I use my citi bank CC, forget it--they love their fees!!

[The Mean Lady 604]

why would one pay fees?? Pay it off in full--Your good to go! Plus get the points!!

No, you are using a canadian credit card in the US therefor you are most likely paying the 3% international fee, at least that's what it is for visa when I use in canada.

This spells it out I think, though I didn't finish reading it:

http://www.creditcards.com/credit-card-news/foreign-transaction-conversion-fees-1276.php

And to the person who says capital one doesn't charge them, that is only capital one and discover.

Edited October 29, 2012 by KDubovik

[The Mean Lady 604]

Also, I only have experience with a few banking systems, but I know for Chase, the fees are never spelled out, they lump it all together when I used my chase card in canada. They would add together the exchanged currency cost and the 3% out of country fee and it would just appear as (1) cost.

[Flames9_RN 358]

No, you are using a canadian credit card in the US therefor you are most likely paying the 3% international fee, at least that's what it is for visa when I use in canada.

This spells it out I think, though I didn't finish reading it:

http://www.creditcards.com/credit-card-news/foreign-transaction-conversion-fees-1276.php

And to the person who says capital one doesn't charge them, that is only capital one and discover.

That's why 1 does research and uses a card that does not charge fees.

[Tom & Stacy 3]

I'm with President's Choice and do not pay any extra fees for using my MasterCard here in the US. When I called PC to tell them I was moving, they did tell me that I'd need to close my credit card account with them eventually as permanent residents of the US are not supposed to use their Canadian credit cards. For now, it just has a travel advisory added to the card so that it my purchases are not flagged and card blocked. They did tell me that I'd have issues getting a new card when this one expires but it isn't until 2015 so I hope to have everything figured out by then.

My plan is to keep my Canadian checking account (debit card) but eventually close out my credit card.