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Obtaining a US Credit Card
May 16, 2020
3:22 pm
Save2Retire@55
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As Canadian Credit Cards bonus are not as interesting as US ones, I came across this article which explains in details how to obtain a US CC. It might be beneficial to someone on the forum. I think I am going to give it a try.

https://princeoftravel.com/blog/getting-us-credit-cards-for-canadians

May 16, 2020
3:35 pm
Briguy
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Save2Retire@55 said
As Canadian Credit Cards bonus are not as interesting as US ones, I came across this article which explains in details how to obtain a US CC. It might be beneficial to someone on the forum. I think I am going to give it a try.

https://princeoftravel.com/blog/getting-us-credit-cards-for-canadians  

It's a well written article, thanks for sharing. I don't personally want to go through all that work just to earn extra points. I think it's easier to churn credit cards and even bank accounts than to go through all that. Plus you're going to have to pay the bills through your US bank account in USD, so you will also lose on the exchange rate unless you have a source of US funds.

May 16, 2020
8:12 pm
Save2Retire@55
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All your points are valid. There are many expenses including the cost to complete applications and the on-going cost associated with the bank accounts, mail delivery, etc. And yes there will be loss money for the currency exchange but the point is to get more money and points through the sign up bonuses to make it worth the hassle.

The main issue would be to find a reasonable way to spend the minimum requirement to earn the bonus.

Example. Chase Sapphire Preferred Card has a 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Reward.

Delta SkyMiles Gold American Express Card - EARN 35,000 BONUS MILES
Earn 35,000 bonus miles after spending $1,000 in purchases on your new Card in your first 3 months of Card Membership. This is a long haul flight coverage with Delta airline. Can always book with them from YOW (Ottawa).

If we get back to normal and can travel again, spending the $4000 in the first 3 months won't be an issue even if it means buying Amazon Gift Cards in return of those flashy points.

Of course no excessive Credit Cards applications as things will get out of control and ending up with fees, points, cards we can't control but I will do what I have been doing with Canadian CCs. 2 Bonus cards a year. Use for 11 month and cancel to avoid the fee. Repeat! So far I have had success with all cards with average $400 free money from bonuses per year. Why not?! It is fun. $400 was what I paid for my cancelled flight ticket to Belize early March. Feels good.

May 16, 2020
11:45 pm
Loonie
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The process makes for some interesting reading, but it's not for the faint of heart!

Personally, I would not bother with it, and I definitely don't want to get involved with the IRS.

It might be worth noting that these card issuers may regard your application as fraudulent since you aren't an American resident or citizen. Ricky already mentioned that one route had been closed. Others might be also. I wouldn't want to have to deal with accusations of fraud.

I lived in the US for several years on a student visa. I was constantly receiving unsolicited credit card applications but, at that time, every solitary one of them had fine print that said the applicant had to be a US permanent resident, so I never applied for any. You could, however, at that time, get department store credit cards without difficulty by applying in person at the store. If that route is still available, it could also help with building a credit history in the US, I would think.

Let us know how you make out if you go ahead with it.

May 17, 2020
7:12 am
Briguy
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Loonie said
The process makes for some interesting reading, but it's not for the faint of heart!

Personally, I would not bother with it, and I definitely don't want to get involved with the IRS.

It might be worth noting that these card issuers may regard your application as fraudulent since you aren't an American resident or citizen. Ricky already mentioned that one route had been closed. Others might be also. I wouldn't want to have to deal with accusations of fraud.

I lived in the US for several years on a student visa. I was constantly receiving unsolicited credit card applications but, at that time, every solitary one of them had fine print that said the applicant had to be a US permanent resident, so I never applied for any. You could, however, at that time, get department store credit cards without difficulty by applying in person at the store. If that route is still available, it could also help with building a credit history in the US, I would think.

Let us know how you make out if you go ahead with it.  

If you don't want to be bothered by IRS, just get US bank accounts that pay no interest. The credit card bonuses don't seem to attract attention of IRS as far as I know.

May 17, 2020
7:43 am
Save2Retire@55
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Loonie said
Personally, I would not bother with it, and I definitely don't want to get involved with the IRS.

I wouldn't want to have to deal with accusations of fraud.

At that time, every solitary one of them had fine print that said the applicant had to be a US permanent resident, so I never applied for any.

It is indeed a long and complicated process but what else to do while locked indoors?

I know many Canadian Credit Cards ask if you are a Citizen or Permenant Resident of Canada. I wouldn't bother if the application asks for the status.

I don't think we have to deal with IRS. It is just a one-time thing to get the social security number. However, you are right. It goes from they don't know / care about this person to having a file and social security number for him. But is there anything they don't know about us anyway?

We will see ... It needs more thinking and research!

May 17, 2020
3:07 pm
Loonie
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I don't disagree.
I also don't know what all the implications are of having a US SSN. For example, US citizens or dual citizens US/Can are not allowed to have TFSAs as the income is taxable in US. I wouldn't want the IRS to start poking around and assume I was a US citizen and then have to spend hours trying to convince them otherwise. I'm not saying this would happen, but it's not knowing the implications that bothers me. As a non-citizen, your rights are limited.

I'm just saying I wouldn't do it, and why. Others may view it differently, and that's fine.

Best of luck to all!

May 17, 2020
3:27 pm
Briguy
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Loonie said
I don't disagree.
I also don't know what all the implications are of having a US SSN. For example, US citizens or dual citizens US/Can are not allowed to have TFSAs as the income is taxable in US. I wouldn't want the IRS to start poking around and assume I was a US citizen and then have to spend hours trying to convince them otherwise. I'm not saying this would happen, but it's not knowing the implications that bothers me. As a non-citizen, your rights are limited.

I'm just saying I wouldn't do it, and why. Others may view it differently, and that's fine.

Best of luck to all!  

You don't actually get a SSN, you just get an ITIN, which doesn't require you to file a tax return. You only need to file a tax return if you earn income in USA, and I don't think these cash back points count as income.

( ITIN is a tax identification number for those who don't qualify for a SSN )

May 17, 2020
10:03 pm
Loonie
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Yes, you're right about the SSN, Briguy. I misremembered what I'd read.

However, personally, I would feel just as cautious about the ITIN. If I'm somehow identified with "tax" by the IRS, then somebody might start giving me hassles somewhere along the line. I've had both excellent and dreadful experiences crossing the US border. As I'm not fully informed on all the implications of having an ITIN, I would avoid it.

May 19, 2020
5:28 pm
Briguy
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Loonie said
Yes, you're right about the SSN, Briguy. I misremembered what I'd read.

However, personally, I would feel just as cautious about the ITIN. If I'm somehow identified with "tax" by the IRS, then somebody might start giving me hassles somewhere along the line. I've had both excellent and dreadful experiences crossing the US border. As I'm not fully informed on all the implications of having an ITIN, I would avoid it.  

I've had a lot of bad experiences at Canada/US border. If you think about it, goods in and out of USA should have been free by now, and border agents should only be checking for contraband like illicit drugs and guns.

I have family in USA and could have potentially become a dual citizen, but if you why would I want to? No free health care to speak of which becomes important as we age.

Background info on NAFTA
North American Free Trade Agreement (NAFTA) established a free-trade zone in North America; it was signed in 1992 by Canada, Mexico, and the United States and took effect on Jan. 1, 1994. NAFTA immediately lifted tariffs on the majority of goods produced by the signatory nations. It also calls for the gradual elimination, over a period of 15 years, of most remaining barriers to cross-border investment and to the movement of goods and services among the three countries.

May 28, 2020
3:32 pm
Briguy
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You should be able to get a US bank account and US credit card without going that whole ITIN route. You can open up a TD Account in Canada and also an account with them in USA, same with Royal Bank and BMO Harris.

Credit cards you can get include TD and Comenity Visa's ( Farmers, Ikea,Orbitz etc).

Check out this new thread on RFD ( there's an older huge thread which is too long ).
https://forums.redflagdeals.com/moving-us-best-solution-bank-account-moving-money-2284263/

May 28, 2020
5:24 pm
Save2Retire@55
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Thank you for sharing this. Anything that can make it easier is great.

Please write your comments in the forum.