undefined | Better HN

0 pointsraydev2y ago0 comments

> They accepted copies of my American credit history and bank statements, but had no real way to verify their truth

I'm skeptical here, given how closely the US and Canada work together, both US and Canadian banks share an incredible amount of info with each other and not solely because of cross-border commerce. There is also a non-trivial number of US citizens living and working in Canada so there are services available to them given their special tax requirements.

0 comments

dghlsakjg2y ago

If you have information that contradicts what multiple banks have told me I would love to know it, since it would be very nice to have that information available to my Canadian bankers.

In the 3 banks I've worked with in Canada, all were completely unable to access my American credit history.

The governments do share tax data, but AFAIK the banks have no way to link "John Smith SSN:123-45-6789" to "John Smith SIN:098-76-54321". They even have my US SSN number since Canadian banks report to the IRS.

Edit: here's experian explaining it: https://www.experian.com/blogs/ask-experian/u-s-credit-histo...

joshuabaker22y ago

Yes this is accurate. I work at a lender that operated in both Canada and the US and the credit bureau integrations were with totally different companies and had different APIs (even for Equifax on both sides of the border)

VK538FY2y ago

It's been a while but I don't even think that a credit score in Canada is comparable to a credit score in the US. Sure, an Equifax terminal in either country spits out a number in the same range but the formula and calculation are probably different, with different legal frameworks regarding the information contained therein.

j / k navigate · click thread line to collapse