CAN -> US New Grad Credit Card Recommendations
I’m a new grad whose about to move from Canada to the US looking for a US credit card. I have an 800-850 credit score in Canada but it seems you can’t transfer a Canadian score into the US... Is there any way I can use this or will I be treated with no credit history at all? I’m currently debating between the Chase Sapphire Reserved and Preferred cards. Any recommendations or thoughts would be much appreciated! There are so many more options than in Canada and I’m a bit overwhelmed.
A Canadian told me she was using credit karma for monitoring her credit and finding new cards. Maybe check it out? Disclaimer: I now work at CK, but this was before I started there.
Call First Tech Credit Union, assuming you're going to be working at one of their tech partners. They will hook you up with a credit card, bank account and anything else you need. All they will need is a copy of your job offer.
^so much this. You should get a low five figure limit easily if you’re working in tech, even with zero credit history. In order to build credit you want multiple cards with as high of a combined limit as possible. You will not want to (ever) close any of these cards, so getting cards without annual fees is important. You could also try asking a Canadian bank, especially one that operates in both countries. If you can get two high limit cards early you’ll get great credit in a couple of years. Discover should approve you after you have 2-3 months credit history. They would offer a low limit but if you keep using it they will keep increasing it. With 6+ months history, and low utilization, you should be able to get an Amex.
Find a bank that issues in both
Whatever you choose, prefer to be in person over an online application. Things are better that way in some subtle ways. Source: in touch with BofA and Chase employees.
If you don't have good credit history in US, mostly probably your chase card would be denied. Try getting Discover or first tech card to build credit history
Tough to get chase sapphire cards since they require excellent credit history. Get a starter card and then build on from there
You won't be able to get the chase reserve card. Your credit score is not transferrable to the US, you're starting from scratch. Recommend getting an entry level credit card from Capital One. It's going to take years to build up your credit history in the US.
Do you have a Canadian Amex? Amex will swap it for a good US card under their Global Transfer program. It's awesome. Outside that pick a bank that is near your office, which will have seen many people in the same situation. I went to the BoA branch in the middle of SLU and got a credit card from them just by showing a copy of my Amazon offer. First Tech will do it as well. But you need to go in and talk to the relationship manager and see what they will do. They have the power to override the automatic decline you will get on the online application. That card and the Amex got me started in the US with two good cards. Chase on the other hand declined my application for an Amazon visa even though I worked for Amazon..
Most good cards will probably be out of reach till you build a score. You should be able to get a discover credit card. Lemme know if you need a referral link for a $50 credit.
Chase Sapphire Reserve is good if u travel a lot