Have green card, now to build a credit rating?

[Hydey 0]

Hi VJ Family, so my Green Card has been approved and should be with me next week. My question now is, how do i build a credit rating here in America? I tried applying for a couple of the lower end credit cards before i received my GC but nothing.. should i try again now? Say a $300 limit, use it, and pay off the full balance... over and over. Is that a speedy/steady way to build credit?

My goal is to have a good enough credit rating so that starting in 2010, if i so wished i can access school loans, car payments, and eventually in a few years a mortgage on a house for my Wife and I.

Any advice? I'm 20 so trying to get my head around the whole thing!

Thanks in advance,

Richard

[rheanick 42]

Hi VJ Family, so my Green Card has been approved and should be with me next week. My question now is, how do i build a credit rating here in America? I tried applying for a couple of the lower end credit cards before i received my GC but nothing.. should i try again now? Say a $300 limit, use it, and pay off the full balance... over and over. Is that a speedy/steady way to build credit?

My goal is to have a good enough credit rating so that starting in 2010, if i so wished i can access school loans, car payments, and eventually in a few years a mortgage on a house for my Wife and I.

Any advice? I'm 20 so trying to get my head around the whole thing!

Thanks in advance,

Richard

I inquired that topic in the philippines forum. Received some responses. They might be helpful to you. See link

http://www.visajourney.com/forums/index.ph...p;#entry2671912

[ikarus 1]

There is a thread with the link below on the same topic:

http://www.visajourney.com/forums/index.php?showtopic=173734

Does your spouse have a credit card that lets you add that person to the account? As soon as my wife got a social security number, I added her name to my account, so now she has a credit card with her name, but it goes back to my account.

My mom also migrated to the USA so she had zero credit history. I did the same. I added her to my account, and she got a credit card with her own name, but it was tied to my account. I specifically kept that account for her to use. So she bought some stuff, paid most of it, but accumulated a bit of interest for a period of 3-4 months. At the time, i had added her so that she could buy some stuff she wanted; however, to our surprise, she started getting offers in the mail about opening credit cards with citibank, discover, etc. She tried one of the offers, and she got the card.

Also, I do know that wells fargo has a program where you open some type of cash card and after a year, you get a credit history with it, and it becomes a normal credit card. The lady at the bank said this card was specifically for people that had no credit as it let them establish a credit history. You might want to inquire at your local bank to see if they have the same.

[KIMCORENE 0]

Capital One also has cards specifically for people new to the country and who have no credit history.

[Fuzzymiss 2]

Capital one is the way I went, and as long as you're good and use the card and make the payments it's just a matter of time to build a good credit score

[Carmen & Aldo 0]

bank secure credit cards are a good option too..

you put down whatever amount you want from 300 to 10.000 dollars..

i tried capital one already and they told me no.. so..... i guess capital one is not as good as everybody in here says

[savethispatient 0]

If you have an American Express card from your home country, they'll transfer your account to a US one. Instantly gives you a credit history, as they declare you've been a member for X years (including the time as a member abroad).

[Hydey 0]

Capital One also has cards specifically for people new to the country and who have no credit history.

Are you sure?

[Jon&Lindsey 0]

Capital One also has cards specifically for people new to the country and who have no credit history.

Are you sure?

They have a selection of cards for people with no credit, such as immigrants - they gave me a $300 one which just went up to $500 3 months later Mine keeps going up every three months as long as I pay on time. If you search for the other threads on building credit, lots of other people here have had good luck with them.

Congrats on your GC!

[MrsCat 6]

Capital One also has cards specifically for people new to the country and who have no credit history.

Are you sure?

I started with Capital One a few months ago. No credit history and was approved for a $500 limit. Had it for three months now, and its been increased to $1000. Just have to ensure that you pay it on time.

Pretty simple. Just apply online and you'll be approved with nothing more than your SSN.

[Damian P 92]

Pretty simple. Just apply online and you'll be approved with nothing more than your SSN.

She's right - I've just done it. And I'm not even in the country yet!!

[wifetobe 2]

If you have an American Express card from your home country, they'll transfer your account to a US one. Instantly gives you a credit history, as they declare you've been a member for X years (including the time as a member abroad).

Absolutely spot on Is what I am doing right now !!

[Hydey 0]

Capital One also has cards specifically for people new to the country and who have no credit history.

Are you sure?

I started with Capital One a few months ago. No credit history and was approved for a $500 limit. Had it for three months now, and its been increased to $1000. Just have to ensure that you pay it on time.

Pretty simple. Just apply online and you'll be approved with nothing more than your SSN.

The irony is, they denied my application!

[himher 634]

Credit cards are the best start. Credit agencies no longer build credit on authorized users of credit cards aka those added to a spouse's card. My wife called Capital One, applied over the phone, and got a new credit card within a week. It had a small annual fee (about $29 if I recall), but it's hers and she's using it. The initial credit line was $1k if I recall.

[MrsCat 6]

Capital One also has cards specifically for people new to the country and who have no credit history.

Are you sure?

I started with Capital One a few months ago. No credit history and was approved for a $500 limit. Had it for three months now, and its been increased to $1000. Just have to ensure that you pay it on time.

Pretty simple. Just apply online and you'll be approved with nothing more than your SSN.

The irony is, they denied my application!

Hmmmmmmmmm - that is strange. Perhaps if you call them and speak to someone over the phone. I've heard that works better.