Credit History

[James-Bond007 6]

Experts - my wife settled here for 7 months now and we're trying to build up her credit history. We applied for different cards (included Secure cards) and she was denied based on lack of credit history and no US income. She's working now, but still can't get approved. We have accounts with a bank that denied her even though they house two of our accounts. I can't have her as a secondary card holder on my accounts because my score isn't good and I don't want mine to negatively impact hers. Do you have any advice? Thanks in advance.

[Abfim 27]

Have you tried the Capital One Secured credit card? That’s what I got when I first started to build my credit. Got approved with no credit history and a $49 deposit. My wife (LPR) got a unsecured one a few months after I added her to 2 of my credit cards as an authorised user. She had a 754 score to start with. If you have any credit card with good history and preferably the oldest then only that individual card would affect her and not your credit score as a whole. At least that is my understanding.

[Mr Geminian 691]

25 minutes ago, James-Bond007 said:

Experts - my wife settled here for 7 months now and we're trying to build up her credit history. We applied for different cards (included Secure cards) and she was denied based on lack of credit history and no US income. She's working now, but still can't get approved. We have accounts with a bank that denied her even though they house two of our accounts. I can't have her as a secondary card holder on my accounts because my score isn't good and I don't want mine to negatively impact hers. Do you have any advice? Thanks in advance.

Which secured cards did you try ?

 

 

30 minutes ago, James-Bond007 said:

Experts - my wife settled here for 7 months now and we're trying to build up her credit history. We applied for different cards (included Secure cards) and she was denied based on lack of credit history and no US income. She's working now, but still can't get approved. We have accounts with a bank that denied her even though they house two of our accounts. I can't have her as a secondary card holder on my accounts because my score isn't good and I don't want mine to negatively impact hers. Do you have any advice? Thanks in advance.

Agree with you. By the way from new to credit till now...you think score can go upto 700 within a year?

[Suss&Camm 2,213]

59 minutes ago, Aviinashh said:

Which secured cards did you try ?

 

 

Agree with you. By the way from new to credit till now...you think score can go upto 700 within a year?

Definitely - I got to 785 in 10 months. 

 

Although, the relatively short history makes it fluctuate more with any changes as compared to someone with a long history - so you have to be careful when adding new credit lines. Do it very incremental - depending of course on when and for what you are building your score. There are different strategies depending on if you are building for a bigger purchase down the line than for a purchase a year head.

Edited October 16, 2017 by Suss&Camm

[James-Bond007 6]

thank you for all your inputs. So far we tried TDBank , she was going to deposit $300 but we got a letter a week later and she was denied. We also applied capital one even though she was going to deposit $300  and she was denied. 

[Gorkhali 213]

what we did is below ?

 

We have couple of different bank Account. But our Banker at Compass Bank is the best and we love Compass Bank. 

 

So our Banker told me to get Secured card. For 500$ in Saving account they issued me $450 value of CC (Secured Card).  Our banker said, you will be getting better offers of CC as your C score goes Up.  Few weeks back, I got a mail for a CC but I dint went for that (This was 1st offer). 

 

I didnt want to be tagged onto my wifey's Cscore even thou she has great Cscore. So I am building slow and steady. My banker at Compass also told me to go for a loan as small as 300 USD (even thou i dint need loan), this way It shows my ability to pay it off. My Banker is working closely building my Credit Score. 

 

Out of all fancy banks, We love COMPASS

 

 

[Abfim 27]

56 minutes ago, James-Bond007 said:

thank you for all your inputs. So far we tried TDBank , she was going to deposit $300 but we got a letter a week later and she was denied. We also applied capital one even though she was going to deposit $300  and she was denied. 

 That’s very strange. Has she had a Social Security number for a while or just got one recently ( last month or two) ? Maybe they arent able to find her with her SS number if it is new. Just a thought.

Edited October 16, 2017 by Abfim

[Tracy-->NY 40]

That is really is very strange. I had no credit history at Citibank and applied for a secured credit card for $1,000 in April got it in May with no hassle with my husband as a authorized user.  As of the end of September my credit score is 620.

[mindthegap 2,521]

16 hours ago, Suss&Camm said:

I got to 785 in 10 months. 

 

 

Mine was 900+ within 1 month.

I used Amex global transfer, which issues you a US card, and then backdates the US credit history to the age of the overseas card, as well as the 'member from' date.

 

Not too pertinent to the OP as they have emigrated already and state that they have poor credit, so a secured card is definitely the (only?) way to go in this instance.

 

Edited October 16, 2017 by mindthegap

[N & A 96]

Try applying for a Capitalone secured card. They are usually flexible with bad/ no credit history. It's pretty easy to improve your credit score in a small amount of time and then adding her to your longest opened account to improve her credit as well.

[Orangesapples 1,954]

My husband made me an authorized user of his credit card (his credit is excellent) and in three months I had had really good credit, which surprised both me and him. 

[Suss&Camm 2,213]

1 hour ago, mindthegap said:

 

Mine was 900+ within 1 month.

I used Amex global transfer, which issues you a US card, and then backdates the US credit history to the age of the overseas card, as well as the 'member from' date.

 

Not too pertinent to the OP as they have emigrated already and state that they have poor credit, so a secured card is definitely the (only?) way to go in this instance.

 

What score is that... Most go to 850

Edited October 16, 2017 by Suss&Camm

[mindthegap 2,521]

4 minutes ago, Suss&Camm said:

What store is that... Most go to 850

Typo (probably due to being sick) - was meant to be 800+ 

 

"Your FICO® Score 8 based on Experian data is the same score used by American Express"

 

Of course, being VJ I can't edit it now..

 

 

Edited October 16, 2017 by mindthegap

[Dutchster 1,106]

I got a Kohl's store credit card when I started building up credit score. A little over two months later, my score is now over 650 and I can apply for bank credit cards.

Edit: But I'm a casual shopper, and I like spending money at Kohls lol. Not recommended if you like shopping like I do.

Edited October 16, 2017 by Dutchster

[Suss&Camm 2,213]

8 minutes ago, Dutchster said:

I got a Kohl's store credit card when I started building up credit score. A little over two months later, my score is now over 650 and I can apply for bank credit cards.

Edit: But I'm a casual shopper, and I like spending money at Kohls lol. Not recommended if you like shopping like I do.

I got a JCPenney one - and yes, you need to watch that!