Does credit history follow you upon relocation from the United States to Canada?
Does your credit history follow your from the United States to Canada? This article http://www.creditfamily.com/credit-report/credit-history-united-states-canada.aspx says it does not. Is this 100% true? Is there no way to move the credit information over instead of starting out all over again?
Public Comments
- yah it will follow u everywhere for the rest of your life
- Despite what the article says, it does follow you. The Canadian bureaus will get your records from the US.
- Credit reporting agencies such as Equifax, TransUnion, Northern Credit Bureaus and Equifax, and others only collect information from creditors about consumers’ financial experiences in a particular country and is separate from other countries credit reporting agencies and vice versa. Despite this, financial institutions may be willing to recognize your earlier credit history outside of a country if you ask them to do so. This may involve, for example, requesting a copy of your credit report from the credit-reporting agency in the other country and sitting down with a branch officer to discuss your credit or loan application. There are many reasons why credit reports do not transfer from one country to the next. The main reason behind this is because of differences in national laws. Every country, and the European Union, has its own laws governing credit reporting and information use. In addition to legal barriers, there are significant contractual complications around how businesses in other countries would access reports, report and update information and respond to consumer disputes. There also are a number of technical issues around how information is collected, stored and shared that further complicates transferring your credit report.
