Building credit

[Peter_Pan 661]

How do we go about doing that? Are credit cards better or education loans? My husband doesn't have a great credit, but he has a good income, so we could apply for a car loan. Would that help?

Can one apply for a credit card after 6 months employment in the US? Which card is the best for someone in our position?

[missicy 87]

I applied for a credit card as soon as I got my first job and had an income. Capital One offers a credit card for new immigrants. I applied for it and was approved for a $500 credit limit (I had no credit history). I payed all my bills on time and 6 months later I had a good credit score and Capital one raised my credit limit to $750. Give it a try, it's a good CC (no annual fee, 1% cash back). APR is high, but if you pay your bills on time, you don't have to worry about it.

Edited April 13, 2013 by missicy

[A&P_Germany 8]

If your husband already has some credit cards have him add you as an authorized user. It should help you some.

http://www.experian.com/ask-experian/20110202-adding-new-spouse-as-authorized-user-can-help-build-credit-history.html

This is what I plan to do in the beginning anyways when my fiancee comes over.. if CSC ever gets their ###### together.

[christeen 966]

Secured credit card, after 6 months ask for increased limit.. But DO NOT max it out ( use it to about 20% each month) and pay it off EVERY month! Education loans do not help credit scores since you do not start paying them until after you finish...

[Darnell 8,478]

advanced search tool ? no ? what ?

[Sayha or bust. 71]

I added my wife to a few of our newer car loans. After about a year she was able to get an unsecured Chase credit card with a high limit and a few department store credit cards which we pay off monthly.

[dandk 72]

East West Bank offers used auto loan with NO CREDIT history or income documentation. This is a great way to start building credit right away. Many Asian immigrants in California take advantage of this.

http://www.eastwestbank.com/english/rate-autoloan.asp

[kzielu 1,147]

East West Bank offers used auto loan with NO CREDIT history or income documentation. This is a great way to start building credit right away. Many Asian immigrants in California take advantage of this.

http://www.eastwestbank.com/english/rate-autoloan.asp

With 7-8% APR ? That's pretty expensive way to do that...

[Niels Bohr 72]

It is. But, a lot of people don't realize the value of refinancing after paying the auto loan for a year. You can cut the interest in half.

With 7-8% APR ? That's pretty expensive way to do that...

[GandK 168]

Capital one secured mastercard is the best hand down. I inherited my wife's rather poor credit in september last year. It was about 550ish. Now we are up at 690ish.

Also, see if you can get a credit card from credit union.

[pat & angela 1]

Me and my husband applied for a secured CC at our local bank. Couldn't be more happy with it. His score has gone way up and im building my credit. We have a 500$ limit on it and we use it for gas or groceries and then by the 25 of every month pay it all off. I would recommend this!

[AllYouCanEat 3]

Start out with a secured credit card. Apply for a gas credit card after a few months. Always pay on time and never carry a balance of more than 30% on either one of your cards.

It also helps to have different types of credit cards.

Have one bank credit card and one department store card.

This will be a good way to build a good credit.

[Mariana2012 89]

I applied for a credit card as soon as I got my first job and had an income. Capital One offers a credit card for new immigrants. I applied for it and was approved for a $500 credit limit (I had no credit history). I payed all my bills on time and 6 months later I had a good credit score and Capital one raised my credit limit to $750. Give it a try, it's a good CC (no annual fee, 1% cash back). APR is high, but if you pay your bills on time, you don't have to worry about it.

Thank you for suggesting this card. I applied for it today and even though I am unemployed they still approved the $500 line of credit. I was about to start with a secured credit card but thanks to your help I don't need to block $500 of my own money.

Do you guys know, if my husband adds me to a car loan made before we got married, does that help build my credit score?

Edited May 9, 2013 by Mariana2012

[Sayha or bust. 71]

Thank you for suggesting this card. I applied for it today and even though I am unemployed they still approved the $500 line of credit. I was about to start with a secured credit card but thanks to your help I don't need to block $500 of my own money.

Do you guys know, if my husband adds me to a car loan made before we got married, does that help build my credit score?

That cards interest rate is way too high. Citi Bank offered my wife a card at half that rate. Yes, have him put you on it. she didn't have any credit at the time she applied for that card.

[Mariana2012 89]

That cards interest rate is way too high. Citi Bank offered my wife a card at half that rate. Yes, have him put you on it. she didn't have any credit at the time she applied for that card.

Yes it is super high, but I plan to pay it in full every month so it shouldn't matter. What is the name of the city bank card she got? Was your wife employed when she applied?

I will try to get a second card in a couple of months and I will look into Citi Bank as well.