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I've seen a thread similar to this but just that people has turned it to where to argue or abuse themselves.
I will prefer people to just give opinion rather than argue or abuse.
Where would u advise a green card holder to open his/her bank account, is it in USA or CANADA? Kindly tell where and the reason why u think where u suggested is better.
USA. If you start living here you need to build up a credit history and without a credit score, you will not be able to get a loan in the future and some ins. companies may charge higher rates without a credit score. Also renting, etc. might be more difficult without a credit history. JMO!
USA. If you start living here you need to build up a credit history and without a credit score, you will not be able to get a loan in the future and some ins. companies may charge higher rates without a credit score. Also renting, etc. might be more difficult without a credit history. JMO!
Thanks bentlebee,
I currently live in england and its the same here. To build up credit history in england u need to maintain ur bank account by making sure ur wages get in regularly and also by paying ur bills on time and so on, and its also help when getting loan in future.
Thanks for ur reply
CANADA - to build credit history in the USA is pointless for next decade or so - simply there no reason for it - you can't really gain anything from it for very simple reason - BANKS WON'T GIVE YOU ANY CREDIT FOR ANYTHING - not for new business or personal spending or ... pretty much anything they used to give the money before now is scraped .....you might build your credit very easily by just paying say gas bills on time or rent - salary was actually never part of the building credit history or ratings -SPENDING WAS -you have to understand that in the USA those two are separate issues -nobody actually care if your salary is coming on time at say once a week intervals but IT MATTERS A LOT IF YOU DO PAY YOUR BILLS ON TIME .
I heard the same from a person who has a very good job over here and couldn't figure out why he was cutting up his credit card and talking similar like you. In the US everything goes by credit history and you either go with the system because fighting it won't help you in the end....
Later I found out why he was talking that way.....he walked away from his home since he bought the last house in the community and in 2005 every 5 houses the price would go up for new build homes so he paid the most for a home that wasn't worth the amount. He also put so many upgrades in it that he probable would never get to the mortgage amount in the next couple of years....so he stopped paying and moved out before he had to do the walk of shame...now the home is sold and he can sit at home and wait if the mortgage lender will go after the difference in the next 10 years...that is how the law is...nice way of sleeping at night....
I got a feeling you are living on MARS dude - your comments and posts reveal great deal of ignorance about current financial affairs -i.e. ECONOMIC CRISIS in this country - ARE YOU IN PRISON ?? OR SOME REMOTE PART OF THE USA WHERE THERE IS NO TV OR NEWSPAPERS??- WHAT ''WALK OF SHAME'' YOU TALKING ABOUT DUDE ...WITH 80 MILLION PEOPLE LIVING BELOW POVERTY LINE AND ABOUT 14 MILLION UNEMPLOYED IN THE US WHO IS TAKING THIS WALK OF SHAME EXACTLY ...please think before you post ... your posts are upsetting great deal of people - MILLIONS OF PEOPLE IN THE USA - TAX PAYING ,LAW ABIDING CITIZENS lost their JOBS and HOUSES and vent bankrupt just in the last 2 YEARS and they been let down by the system badly NOW THAT IS THE SHAME .... you trying to fit in in your ''new homeland '' by putting your head in the send and quoting VERBATIM SOMETHING THAT SOMEBODY TOLD YOU OR SOMETHING YOU OVERHEARD IN PASSING BETWEEN GOING TO A TOILET AND EATING YOUR FAVORITE JUNK FOOD its just plain IDIOTIC
bmx, don't bother. Bentlebee just won't listen and has some serious psychosocial issues. I am disappointed at the mods for not banning that clown once and for all so that we can finally get back to what this board has been lacking ever since she showed up in the first place. Great, verifiable information without all the controversy and heated discussions. I am surprised no DV winner has come forth yet, blaming a botched interview on bentlebee's irrelevant posts and ignorant advice about gas prices and the US economy.
There is no reason to get personal. Bentlebee just posted his opinion. And besides Ayoblack has just asked for your opinion on opening a bank account and not on the current financial affairs. In any case , i am also of the same opinion as that of Bentlebee regarding current economic crisis. I believe the point he mentioned is the starting of the current economic crisis.
Nobody has to put all their money in a US bank if they want to keep money abroad that can be done. But if you life here and every GC holder has the intention of doing so otherwise they wouldn't spent all that time and money to get through the process to obtain the GC...so why not make you life easier and have a bank in the US. You will see how much easier it gets when you start to build up a credit score and I don't even need it as much as many others since I don't have a mortgage and don't need a car loan or study loans. Still there are circumstances that a credit score will be checked, like in case of getting a credit card, and recently the utility company started to check credi scores when people are setting up an account. But you can also get an account without the credit score but you have to put a larger deposit to open a utility account without a credit score.
My car ins. is lower due to my credit score, etc...so without having a bank account over here and living here I'm saving money in different ways due to that credit score. I only found out after living here for 2 years and wish I knew about it on day 1 of coming here.
Exacty. I was reading about health insurances in USA (just preparing myself incase i am accidentally selected for DV2011 ) and read somewhere that the premium depends on the credit score. I have understood it to be something like a ranking to decide how much trustworthy you are.
Just today there is a article about social security cashing gov. Bonds ...it transpire that the social security will drain out in 2037 when majority of people on this forum would be close to retirement .......think ... Before is too late ...
About credit score ...once again ... Credit rating is not related to any kind of bank accounts - period!!!!!-is related to you paying your bills on time - again for the last time :gas , phone , electricity etc.bills paid on time will get you high credit score -also you can get limited credit card with insurance and that would be more then enough for high score of credit ratings too
car insurance is related to drivers age and driving record - period - has nothing to do with credit rating - known people with perfect credit rating who paid arm and the leg for auto insurance and people with high debt who paid next to nothing
medical insurance also has nothing to do with credit ratings - you have to pass medical and thats it ... Pre-existent condition for example would not be insured even if your credit score is excellent ....you can have a cancer
(pre existent condition)and the perfect credit score but that would not get you insured in this country
credit score was good for people who would buy a house or a car or some white goods or to get credit cards with say 10 000 dollars spending limit ,business loans or credit also school loans etc but all that is scraped due to economic crisis - banks wont give you the money any more ......even people with high credit score got their credit cards limited to say 2000 dollars max. These days -
that is the point of all this argument on this forum .....days when the credit ratings used to count for something are gone or at least fading fast because there is no money ...there is no money ... There is no money to honor that kind of system -period
that is the reason why more and more americans are saving abroad - they simply started to distrust their banking systems and when it comes to the money they can ill afford to lose it because for example average american household lost about 30% of their net worth in the last 2 years now thats a lot of money ..... No society can recover from that on the long run - maybe it would take 10 years or more for recovery but its hard and i don't see it happening in our life time
this is in short how that CREDIT HISTORY USED TO BE ABUSED IN THE 90 s AND IN THE LAST DECADE BEFORE THE CRASH
System of greed which got promoted in the early 80s in this country took CAPITALISM to a new high
MONEY AND MAKING MONEY BECOME A PARAMOUNT OF AMERICAN DREAM - ALMOST ALL INDUSTRIES GOT DESTROYED IN THE PROCESS AND SERVICE AND FINANCIAL ''INDUSTRY''GOT BIG CHUNK OF THE ECONOMY GOING - EVERYTHING GOT PRODUCED IN CHINA OR JAPAN OR .....
SO NOW PROBLEM WAS HOW TO GENERATE INCOME OR HOW TO INVEST - NOW BANKERS DECIDED THEY GONNA INVEST INTO LOANS - BUYING AND SELLING THEM IN TURNS GETTING HIGHER VALUE ON EVERY TURNOVER - MIND YOU NOTHING WAS PRODUCED -IT WAS JUST A BIG SCAM OR SAY ''HOUSE OF CARDS''- WITH EACH TURN OVER BANKS GOT MORE GREEDY AND VALUE OF THE PROPERTIES WHERE GOING UP FOR NO APPARENT REASONS -
SOMEONE WAS TAKING THE MONEY ...BIG MONEY - 900 TRILLION DOLLARS GOT'' LOST'' BUT ''REGULAR '' PEOPLE GOT SOMETHING ..THEY COULD BUY A HOUSE WORTH SAY A 1 MILLION EVEN IF THEY HAD BAD CREDIT SCORE OR NO MONEY!! YES THEY USED FAKE STATEMENTS OR MADE FAKE STATEMENTS TO BANKS DECLARING HIGHER INCOME THEN THEY ACTUALLY HAD .....OR EVEN LOAN OR MORTGAGE OFFICERS IN THE BANK USED TO LIE FOR THEM AND FILL THE FORMS WITH FAKE DATA ON CLIENTS - GUESS WHAT ???NOBODY CARES ...!!!
ALL THAT RESULTED THAT CREDIT HISTORY BECOME IRRELEVANT IN THE USA - BECAUSE IT WORKS ONLY WHEN THERE IS MONEY IN PLACE -ACTUALLY AS WE SEE NOW IT DID NOT WORK AT ALL IT WAS JUST A SHAM AND THE WHOLE CREDIT HISTORY SYSTEM GOT JUST ABUSED BY THE BANKS AND INVESTMENT BANKERS FROM WALL STREET
AND WHEN THE MONEY WAS GONE IT BECOME IRRELEVANT AGAIN BECAUSE SIMPLY IT DOES NOTHING NOW FOR ANYONE
Credit scores are related how you handle your credit cards and pay them off....
If you don't pay your other bills that will affect it as well...for a bank it is very important that you can handle debt and how...
That is the same in Europe, the only difference is that they don't look at credit cards in the first place but how much income you have and if you pay on time...
I have to agree with the guy above - opening a bank account in the usa will help since you will be living in the usa but opening a bank account in canada is very prudent thing because as someone wrote before -you will get better service and interest on your savings and also us dollar is losing value a lot so for someone from europe its very important to be able to convert dollar into say euros or british pound and save his/hers earnings from weak dollar and bad economy in the us (which is gonna last for long time )-
all of my friends - american or recent immigrants likewise have bank accounts in canada or europe .....i live in ny so its fairly easy to hop across the border and thousands are doing the same
lots of people of european descent are using their bank accounts back in the europe for even day to day banking here in usa .... I know some people they send their pay check from us companies to canada to be cashed !!!!
Rich americans for example keep majority of their money abroad - us gov. Is fighting for decades to tax that money (they say more then a trillion us dollars is kept abroad by rich americans ) its just that now you have ''ordinary'' people -ordinary working people who are making maybe 40 000-60 000 dollars a year doing the same thing
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