Few tric to build credit....

[amberlynn 0]

Hi to all who might need help with this.

Here a trick for you to build credit in 6 months.

The first advise I can you if your bank is RBC or HSBC(in canada) is that you will have no problem getting a US credit card (of course unless your credit score in Canada is bad) wich is the easiest way to start. I'm a member of RBC Royal bank and when I moved to the US I had already establish a checking account with RBC Centura (USA). I called to ask if there was any way to get a US credit card from them. They simply mirrored my Canadian credit with RBC Royal bank and within 5 min I was approved for GOLD Visa Card. After 6 month my credit was established with all 3 agencies (Trans-union, Equifax & Experian) with a score of 720+.

Of course your Canadian bank as to have a branch in the US. RBC being one of them made it very easy. I was very surprised.

The next best advise is to join ASAP any credit union in you r living area. Most only require to open a checking account with Direct deposit.

I hope this will help.

Truly yours

Larry

[JillA 2]

I have an RBC account in Canada but they don't have any branches in PA, so they said I couldn't really open a US account....

I was rejected for a Target CC but approved for a Capital One CC with a small limit, so I've been using that to hopefully start building some credit

[Southern_Canadian 0]

I was recently told that to be approved for a CC, you have to have a job for at least a year to show income. Is that true? I've been a nanny for about 9 months.. getting paid cash so there is no proof of income. Are my chances of getting approved for a CC slim?

Thanks

[JillA 2]

I was recently told that to be approved for a CC, you have to have a job for at least a year to show income. Is that true? I've been a nanny for about 9 months.. getting paid cash so there is no proof of income. Are my chances of getting approved for a CC slim?

Thanks

Guess it depends on the CC company... I was approved even though I stated I was a homemaker!

[Southern_Canadian 0]

Cool! Guess I'll go apply then. I bank with Wachovia under my husbands name. I'll start there and see what they say.

Thanks!

[The_Dude 1,142]

I was recently told that to be approved for a CC, you have to have a job for at least a year to show income. Is that true? I've been a nanny for about 9 months.. getting paid cash so there is no proof of income. Are my chances of getting approved for a CC slim?

Thanks

Guess it depends on the CC company... I was approved even though I stated I was a homemaker!

Did you use your husband as a co-signatory or a reference?

I had a dog in university that got a capitol one credit card. She got a $500 limit on it too

[JillA 2]

I was recently told that to be approved for a CC, you have to have a job for at least a year to show income. Is that true? I've been a nanny for about 9 months.. getting paid cash so there is no proof of income. Are my chances of getting approved for a CC slim?

Thanks

Guess it depends on the CC company... I was approved even though I stated I was a homemaker!

Did you use your husband as a co-signatory or a reference?

I had a dog in university that got a capitol one credit card. She got a $500 limit on it too

Not at all, it was strange! I didn't even reach out to apply, Capital One sent me a pre-approval for $500 in the mail! No clue how they got my name/addy.... anyway I went online to confirm and was approved straight away, with no mention of income! I don't really know why I was approved in fact, but I'm not complaining LOL

[The_Dude 1,142]

I was recently told that to be approved for a CC, you have to have a job for at least a year to show income. Is that true? I've been a nanny for about 9 months.. getting paid cash so there is no proof of income. Are my chances of getting approved for a CC slim?

Thanks

Guess it depends on the CC company... I was approved even though I stated I was a homemaker!

Did you use your husband as a co-signatory or a reference?

I had a dog in university that got a capitol one credit card. She got a $500 limit on it too

Not at all, it was strange! I didn't even reach out to apply, Capital One sent me a pre-approval for $500 in the mail! No clue how they got my name/addy.... anyway I went online to confirm and was approved straight away, with no mention of income! I don't really know why I was approved in fact, but I'm not complaining LOL

They have changed a bit, but when I was in universtiy, they were giving freshmen credit cards with a $10k limit on it. They knew they would run them up and knew nothing about credit. Most of the major credit card companies did this, that is until they were found to be guilty of predatory business practices. Now they scrutinize a lot more. Capitol One will give just about anyone a credit card and start you out at about a $300 limit. I don't like them particularly because they have an annual fee. Speaking of which, I need to cancel my card this afternoon.

[thetreble 19]

Well last week the Obama administration passed a new credit card law. I don't know the ins and outs but I know they want to make it more difficult to give people, especially students, with no income credit cards.

I got a capital one cc when I started working. Still have my low limit. I'm on all my husbands cards though. Thats the best way to build credit.

Edited May 28, 2009 by thetreble

[Udella&Wiz 325]

Wow - no offense but to the OP - have you read other folks credit problems in this and other forums? Before you give free advice, please be aware that it isn't as simple as you've made it out to be.

There is no hard and fast rule - some folks get credit easily through a former Cdn AMEX or RBC account, some through their husband or spouse, some were turned down (I am one of those). Some folks easily got department store cards without being asked for anything, others of us earn practically 6 figures and we were turned down because we have no credit history in the US.

You are very lucky that it worked out easily for you, but please don't misguide folks.

/rant over

I have a secured CC through Bank of America in my own name now and that is how I am building my credit to start

Edited May 28, 2009 by Udella&Wiz

[G&A 1]

If you had an AMEX in Canada, AMex in the USA will issue a card based on your Canadian account standing with Canada AMEX. I was issued a $6000 cc one week after I moved to the USA. I did not have a job or a SSN.

My husband put the phone bill in my name and added me onto hi credit cards. Now I have a credit score of 850. A few months ago I was issued a cc from wamu for $30K. Amex really helped me out because it comes up on my credit report that they have been reporting on me since 2000 (when i got my card in Canada).

[Misty1979 0]

If you had an AMEX in Canada, AMex in the USA will issue a card based on your Canadian account standing with Canada AMEX. I was issued a $6000 cc one week after I moved to the USA. I did not have a job or a SSN.

My husband put the phone bill in my name and added me onto hi credit cards. Now I have a credit score of 850. A few months ago I was issued a cc from wamu for $30K. Amex really helped me out because it comes up on my credit report that they have been reporting on me since 2000 (when i got my card in Canada).

Daaammn...what I wouldn't give to see that number on MY credit report, lol. Unfortunately, I had to do things the slow way like alot of others...take the first free-bee credit card I could get my greedy paws on (Capital-One..how surprising,) and I'm slowly but surely establishing a tiny bit of credit down here.

The sad thing is, I had really good credit in Canada, but nothing carried over down here. My husband's credit was pretty jacked thanks to his ex, so he couldn't help me out much either.

For all those still looking to start off somewhere with your credit, I hear Macy's is also pretty easy to get a CC at, if you had an account in Canada (as long as they aren't out of business yet, I heard they weren't doing too well.)

[thetreble 19]

If you had an AMEX in Canada, AMex in the USA will issue a card based on your Canadian account standing with Canada AMEX. I was issued a $6000 cc one week after I moved to the USA. I did not have a job or a SSN.

My husband put the phone bill in my name and added me onto hi credit cards. Now I have a credit score of 850. A few months ago I was issued a cc from wamu for $30K. Amex really helped me out because it comes up on my credit report that they have been reporting on me since 2000 (when i got my card in Canada).

Again, when this topic has come up lately I have stressed that what some people may have gotten a few years ago, even up to mid 2008, is definetely not what you are going to get now, regardless of your canadian credit.

With the financial crises having so much to do with people not being able to pay back debt, most banks are giving credit freely at this point.

[amberlynn 0]

I have an RBC account in Canada but they don't have any branches in PA, so they said I couldn't really open a US account....

I was rejected for a Target CC but approved for a Capital One CC with a small limit, so I've been using that to hopefully start building some credit

I do not have a branch in MD either, my account is base in Jacksonville, FL.

They should open one for you without a problem

I was recently told that to be approved for a CC, you have to have a job for at least a year to show income. Is that true? I've been a nanny for about 9 months.. getting paid cash so there is no proof of income. Are my chances of getting approved for a CC slim?

Thanks

Slim to none...

My advise to you is to join a Credit Union... no other way

[amberlynn 0]

Wow - no offense but to the OP - have you read other folks credit problems in this and other forums? Before you give free advice, please be aware that it isn't as simple as you've made it out to be.

There is no hard and fast rule - some folks get credit easily through a former Cdn AMEX or RBC account, some through their husband or spouse, some were turned down (I am one of those). Some folks easily got department store cards without being asked for anything, others of us earn practically 6 figures and we were turned down because we have no credit history in the US.

You are very lucky that it worked out easily for you, but please don't misguide folks.

/rant over

I have a secured CC through Bank of America in my own name now and that is how I am building my credit to start

It is the last thing I wanna do, beleive me.

I was not about luck for me, But being with RBC made everything very simple.

I look through many different possible way and to join a credit union was the second option...though it would'have taken longuer to establish credit It was an alternative to consider.

All this post is, is to give options to people in my situation, share what I had to go through to get to this. I no way I mean to give hope to the ones struggling to get to that point.

Please be advise that a REQUEST FOR A CC that is refused, automaticaly start your CREDIT. As it will be reported to all 3 agencies as a no hit, but will give you an actual file to look at.

I'm sorry if I missled anyone with this post as it was not my intentions.

Sorry.

Laurent