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ADW & JOP

Lessons along the way - a Canadian's journey to the US

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Filed: K-1 Visa Country: Austria
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i plan to have my fiancee apply for SSN within 2 weeks of arriving (fingers crossed), so that all other stuff can get rolling (credit card, bank, driver license, school, tax return, etc.)

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50 minutes ago, nasse_forelle said:

i plan to have my fiancee apply for SSN within 2 weeks of arriving (fingers crossed), so that all other stuff can get rolling (credit card, bank, driver license, school, tax return, etc.)

Good plan.  Mine went to the SSA the very next day after POE if I remember correctly, and received his SSN in the mail several weeks later.  Definitely simplified getting the DL, bank accounts, and eventually purchasing a truck.

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Filed: K-1 Visa Country: Canada
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Norbert Gambit sounds cool. I have to move quite a large sum of money eventually, really not in the mood to file an FBAR/FATCA every year -_-

 

As for your credit score, couldn't you just join your wife's pre existing credit line by having a joint credit card and it will build your credit score if your SSN is on the account? That is what I have done, but I am not sure what my credit score is :D

Edited by purem4g1c
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30 minutes ago, purem4g1c said:

Norbert Gambit sounds cool. I have to move quite a large sum of money eventually, really not in the mood to file an FBAR/FATCA every year -_-

 

As for your credit score, couldn't you just join your wife's pre existing credit line by having a joint credit card and it will build your credit score if your SSN is on the account? That is what I have done, but I am not sure what my credit score is :D

We aren't consider a resident for tax purposes until we officially move to the US, right? I'm planning to do the POE but return to Canada for a couple of months. During that time I'd be moving the money over as well. I don't want to have to file the FBAR for 2020. 

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Filed: IR-1/CR-1 Visa Country: Canada
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36 minutes ago, purem4g1c said:

Norbert Gambit sounds cool. I have to move quite a large sum of money eventually, really not in the mood to file an FBAR/FATCA every year -_-

 

As for your credit score, couldn't you just join your wife's pre existing credit line by having a joint credit card and it will build your credit score if your SSN is on the account? That is what I have done, but I am not sure what my credit score is :D

FBAR was pretty easy to file for one year. I needed to do it anyway because I needed to file a joint tax return to obtain an ITIN and most of my assets were in Canada.  I didn't need to file a tax return in 2019 as I didn't meet the substantial presence test and I hadn't moved to the US yet. I moved most of money in 2020 as I plan to immigrate this year anyway.

 

I am already added to her credit card as an authorized user. Just trying to build more credit with my own credit card, but we will see.

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Filed: IR-1/CR-1 Visa Country: Canada
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44 minutes ago, purem4g1c said:

Norbert Gambit sounds cool. I have to move quite a large sum of money eventually, really not in the mood to file an FBAR/FATCA every year -_-

 

As for your credit score, couldn't you just join your wife's pre existing credit line by having a joint credit card and it will build your credit score if your SSN is on the account? That is what I have done, but I am not sure what my credit score is :D

Yes he could but he doesnt have a ssn yet. Cant until you get your residency. I myself am trying to get a jump start on my credit and have done a lot of what he has done but it's all pointless really until you get the ssn.

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Filed: IR-1/CR-1 Visa Country: Canada
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12 minutes ago, jackanddeona said:

Yes he could but he doesnt have a ssn yet. Cant until you get your residency. I myself am trying to get a jump start on my credit and have done a lot of what he has done but it's all pointless really until you get the ssn.

I've done research on this topic. There is some uncertainty as to whether you can start building your credit score using an ITIN. When I obtain my SSN, I intend to substitute my SSN with my ITIN number with my preexisting credit card with Capital One and notify various credit bureaus. I will update the thread once I do so to see if it made any difference.

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Filed: IR-1/CR-1 Visa Country: Canada
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40 minutes ago, canadavisa22 said:

We aren't consider a resident for tax purposes until we officially move to the US, right? I'm planning to do the POE but return to Canada for a couple of months. During that time I'd be moving the money over as well. I don't want to have to file the FBAR for 2020. 

I think you might have to file an FBAR in 2020 anyway. You may want to double check because at some point during tax season 2020, you have more than 10,000 USD in a foreign country (in this case, Canada). I filed the FBAR in 2018 and it was quite simple.

Edited by ADW & JOP
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Filed: IR-1/CR-1 Visa Country: Canada
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10 hours ago, ADW & JOP said:

I've done research on this topic. There is some uncertainty as to whether you can start building your credit score using an ITIN. When I obtain my SSN, I intend to substitute my SSN with my ITIN number with my preexisting credit card with Capital One and notify various credit bureaus. I will update the thread once I do so to see if it made any difference.

I'll be doing that with amex and I bank with rbc and since they have an american side they offer giving you a us credit card based off your canadian credit. I figure 2 cards with 2 companies and being authorized on wife is a good start. At the end of the day the history is more important than multiple accounts and you only get that by actually being there. 

 

I've done a lot of research too and ya there are potential loopholes that allow you a headstart on credit but I could never find a definitive answer. I give the answer that I know for sure is right which is "plan ahead and have a couple accounts ready and waiting but dont expect a massive difference in your credit."

 

Also my point was more regardless of what you do to prep your credit you dont actually have a credit score or the ability to use it until you have a ssn.

Edited by jackanddeona
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  • 5 weeks later...
Filed: IR-1/CR-1 Visa Country: Canada
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On 3/7/2020 at 5:27 AM, jackanddeona said:

I'll be doing that with amex and I bank with rbc and since they have an american side they offer giving you a us credit card based off your canadian credit. I figure 2 cards with 2 companies and being authorized on wife is a good start. At the end of the day the history is more important than multiple accounts and you only get that by actually being there. 

 

I've done a lot of research too and ya there are potential loopholes that allow you a headstart on credit but I could never find a definitive answer. I give the answer that I know for sure is right which is "plan ahead and have a couple accounts ready and waiting but dont expect a massive difference in your credit."

 

Also my point was more regardless of what you do to prep your credit you dont actually have a credit score or the ability to use it until you have a ssn.

Just to update this post, I received my SSN this week. I went to check my credit score and it is in the mid-700s. On my account, it lists both my secured credit card with Capital One (which I used my ITIN to apply for) and my wife's credit card, which I am an authorized user. This highlights that you can get a head start on building your credit prior to moving to the US.

 

One annoying pearl I learned today: AmEx would not honor the global transfer program as I already have a pre-existing credit history in the US. I will just have to use my current cards to build up my credit score more and apply for something better.

Edited by ADW & JOP
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Filed: IR-1/CR-1 Visa Country: Canada
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19 hours ago, ADW & JOP said:

Just to update this post, I received my SSN this week. I went to check my credit score and it is in the mid-700s. On my account, it lists both my secured credit card with Capital One (which I used my ITIN to apply for) and my wife's credit card, which I am an authorized user. This highlights that you can get a head start on building your credit prior to moving to the US.

 

One annoying pearl I learned today: AmEx would not honor the global transfer program as I already have a pre-existing credit history in the US. I will just have to use my current cards to build up my credit score more and apply for something better.

Huh, ok good to know. I may be in the same boat as you with amex as I also have an authorized card with my spouse.

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Building my US credit score was easy. I used RBC and they gave me a US unsecured card with a low % because I was working and had great credit in Canada. I updated it with my SSN afterwards. Hubs and I already had a joint bank account. 

You have brains in your head. You have feet in your shoes. You can steer yourself any direction you choose.  - Dr. Seuss

 

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Filed: IR-1/CR-1 Visa Country: Canada
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On 4/11/2020 at 8:54 AM, NikLR said:

Building my US credit score was easy. I used RBC and they gave me a US unsecured card with a low % because I was working and had great credit in Canada. I updated it with my SSN afterwards. Hubs and I already had a joint bank account. 

That's my plan. I bank through rbc so was going to do that. Figured if I could do the amex xfer first it would help to have two accounts under my name right away.

 

Just for everyone reading this thread keep in mind just because your score bounces high right away doesnt mean you are in any way desirable as a recipient to banks. Having a long/multiple histories is the key so being proactive is best.

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Filed: K-1 Visa Country: Canada
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Just wondering, has anyone used VBCE to transfer all your CAD to USD? I've been using it for a small amount of money whenever I travelled to the states because they offer a good exchange rate but wondering if anyone has used it for moving a large sum of money.

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