Building credit

[SCOTTANDVICKI 11]

Hello everyone!

So it's been a very, very busy 2 months since we arrived! I learned to drive, we got an apartment and I've got a lovely job as Executive Director of a non-profit.

I have one question that I'm sure has come up for others so I'm hoping for some advice - how do you build credit? I have a checking, savings and joint account with my husband - our car and apartment lease are in my husband's name because they had to be owing to the fact I hadn't received my SSN by the time we needed them. I've applied for two different cards about a month apart but not been approved.

I don't need the credit so I could happily have a $100 limit or something to start with, I just need to get a start on it because we want to buy our own house next year - the only reason we can't now is because I don't have credit!

Any suggestions?

Thanks so much!

[Zara81 1]

hi,

We had the same problem when I just came in the USA. My husband added me on his credit card account. And I began getting offers from credit card companies.

Good Luck

[ki&si 0]

See if you have a credit union, or other credit card company that does a secured-credit card. You pay $500 (example) refundable for secured credit. Then make regular small purchases and make sure you pay the card off each month.

Your credit score will then start improving. Two years into the process above, and I got a car finance package approved, as credit score was excellent.

[Ralph and Meghan 19]

did you try to apply for a secured credit card? Try to get a smaill car loand (can be with a joined signer) All in all it's the chicken and the egg. You need credit to get credit. Don't apply for to many credit cards at once it can lower your score you have. Every credit check is a hard hit and can lower your score. If your husband has a credit card try to get added on that one.

What i did was get a small car loan when i got a job and after a couple months a got the first credit card offers. I applied about 6 months working and paying my car loan and got approved.

[POA 175]

I was on the same situation. My husband and I applied for a joint credit card from our bank. We were approved. The other thing you can do is to be added as an authorized user of your husband's credit card. Then you will be able to build credit.

[Ebunoluwa 6,136]

Capital One secured credit card, $ 49 pay in and get $400 credit. Charge small amounts and pay on time and watch non secured CC offers

come in. Keep the utilization rate around 30% to keep decent credit.

creditkarma.com is a good tool to keep an eye on your credit score.

[Nich-Nick 3,353]

There is a pinned topic on this in the Tax and Finance forum.

I added my husband as an authorize user on my major cards. He built a credit report that way. They reported to his name as well as mine.

If your visa was CR1 then get added to the lease and car now that you have a SSN. You will want 2015 dated things for removing conditions in two years. IR1, then not needed.

[KayDeeCee 4,891]

~ Moved from Moving to the US to Tax & Finances During US Immigration - topic about building credit ~

[Roy&Chanel 109]

very good and useful information here guys. I was searching more information on how to build up credit, this is definitely useful for me. Thanks for the info above posters!

[Derwood 202]

I built my credit score up to 780 in 12 months from nothing. Thankfully I've had a UK American Express card since 2012. I used their international change of address service to get an American American Express card. The switching service transfers your original 'member since' date (in my case 2012) which helped build my score. A few months later I applied for a store visa credit card and was approved with a $1000 limit. About 8 months in I applied for a credit card with my bank (Chase) reserved for people with a higher credit score. I was expecting to be denied but I was approved.

I pay all bills in full on the day the bill is generated. The pre-approved credit card offers I receive through the mail now are neverending.

Edited August 14, 2015 by Derwood

[Roy&Chanel 109]

Thats great for you Derwood! unfortunately I dont have any credit cards as I am used to paying bills by debit or atm system

Hopefully I will be able to build up mine in 12months or so.

Very useful information guys! Thanks alot!

[Sean and Kristina 24]

hi,

We had the same problem when I just came in the USA. My husband added me on his credit card account. And I began getting offers from credit card companies.

Good Luck

Did you have a SSN when he added you as an additional cardholder? I've added my husband to all of my credit cards as an authorized user in hopes of building his credit, but he does not have a SSN so I don't know how the credit bureaus will be able to track it. Amex took his passport number instead of a SSN and Citi and Chase didn't care or ask for a SSN.

Just curious as to how we can build my nonresident alien (F-1) husband's credit before we adjust his status, get green card, SSN, etc.