credit card

[Liya]

Dear Fat Bob & Nicolete,

Thank you for the information.

I can tell you that our embassy recommended us to work with the DBS, which gives you accrued interest to the money in our private acount, even if we will not open saving progrem , you must be aware to the low interest though!
It was an anser to our question: "was it worth to open two years saving progrem acount".

Egad, the board is great, full of useful information, just to admire!  

[Fairly new]

Dear New,

How do you check on your credit status and how would you know if someone has stolen your social security number?

Thanks

[new]

Fairly New.....
You check your credit report with the three major credit agencies.....that is if you are American. If you're from elsewhere I can't help you.
Simply search for Credit Agencies on a search engine for addresses. The names are Equifax, Transunion and there is one more but I can't remember the name.

As far as SSN fraud is concerned you can't really know unless you are a victim. The way I found out was while trying to finance a car. The finance agency (Chrysler)immediately let me know that my SSN came up with another person's name attached.
This has become a big deal here in the states. Think about it; a SSN, a driver's licence and you can do most anything here.

Be careful!

[N]

A European Platinum Amex gives you a level of insurance including repatriation etc. etc. etc. over and above gold; to get the same level of general and travel insurance any other way costs heaps more than the annual fee.

[Mapleleaf]

If you're American or Canadian, make sure you keep one credit card active in your home country to keep your credit history active. Our Amex card has saved us time and time again in terms of transferring memberships back and forth. We went through HELL last year trying to get a mortgage with zero U.S. credit history ("Ma'am, we cain't read no Canayydian credit reports")but Amex simply transferred our cards over and then we could show that we had qualified for some credit. I think that got the ball rolling...that and our legal threats about fair lending practices, etc. And now it's HELL trying to get them to allow us to pay off our mortgage! (but that's another story)

Anyhow, keep one credit card going in your home country at all times -- and it will not affect your non-residency status with Revenue Canada as long as you don't have too many obvious ties left.

[Black Beauty]

Mapleleaf...
What counts towards the non-residency status then?
And how do I get non-residency?

[expatlady]

Liya - You asked why people recommend Amex (which is actually a charge card, not a credit card so you have to pay off the bill in total each month).

The reason why I like it is that a few years ago my husband flew from London to Hong Kong on a business trip within SEA capital cities for three weeks . Unfortunately he arrived at the airport with his passport and business reports, laptop etc. but left his wallet behind at home. By the time I arrived with it at the airport his flight had departed, and he was on it!

I phoned Visa and Mastercard who were useless at being able to arrange a quick replacement. I then picked up his Amex card and phoned their office in Brighton, England at 10.30pm on a Sunday night. They were sooo helpful. They asked a few personal details and asked me to cut up the card, and arranged with the Hong Kong office for a new card whilst my dear husband was in the air and oblivious (as well as concerned) as to how he was going to be able to pay for his hotel and incidental expenses. He made a reverse-charge call to me when he landed, and thus was able to walk into their Hong Kong office (conveniently near his hotel) and produced his passport. He was given a new card on the spot and a cash advance. Amex even offered to courier the cash & a card to him too.

So for all expats who travel on business or leisure and may have the misfortune to lose or have their wallet stolen, I heartily recommend Amex (although their Singapore staff are not quite as efficient as those in the UK in my opinion).      

[Mapleleaf]

I completely agree with Expatlady's comments re: Amex - also about Singapore Amex being a few notches below par on service. Amex worldwide has been an absolute LIFESAVER. Remember those commercials where the guy bicycles through fields and rain to get the replacement card to the customer? Well, we've been through spots like that before. They also allow cash withdrawals without exchange/commission,etc, fantastic last-minute personal travel insurance, FREE companion ticket business class ticket to anywhere in the world (US/Cdn Amex only I think) etc. etc. Need I say more???

Black Beauty, to qualify for non-residency status in Canada, basically you need to make sure that you cut as many ties as possible i.e. no immediate family (wife,kids) hiding out in Canada, not too many credit cards, keeping your Drivers License is okay as well as health plan cards although cancelling those help, if you own a home either rent at an arm's length or sell it, and the minimum time required outside of the country is 2 yrs residence elsewhere. Life insurance and RRSPs are okay too. The big bonus to this is GST Reimbursements everytime you go home to stock up! My brother who works for Rev Cda says that every tie is allotted a certain number of points and I can't remember what is the limit to be declared non-resident. There's a non-residence survey which is entered into an internal computer system that tallies up the points.  But as long as you don't own like 5 houses, own a corporation/company, have loads of money in stock, etc. you should be just fine. Basically, you can declare non-residency with Rev Cda when you leave or just complete a tax return as per normal when it's due with your foreign address, T4s, etc. It's very very straightforward.