RECENT CREDIT APPLICATION AT TARGET A BUST!!!!

[MrsCat 6]

Best thing I can say about getting credit cards and increasing your credit, is buy Suze Orman's book Young, Fabulous and Broke. She explains what a good mix of credit is, and how to start building your credit. She also explains how to piggyback off of someone else's established credit if you're a couple.

I got an Amex before I left with my Canadian credit history and transfered it to my SSN when I arrived here a few months later. I got a Macy's card, and as Capital One. They just increased my limit from the starting $500 to $1000 after only 3 months.

I didn't have to report any income with the Macy's card.

[Caladan 19]

^^ I know you are so right. I just really need to get over it and get some cards and teach myself not to spend what I don't have. I think I'll still wait until I have a job at least.... so I'm not tempted...

C. had a history of being very bad with credit, but we got him a card with a low limit anyway so he can build a history of paying it off in full every month. We set up e-mail and text message alerts so he could get a mental sense of his balance and what he could afford, and I (with very good credit) reminded him.

When we recently applied for a car loan, we had some trouble because of his short (~16 month) credit history, but between our joint income and my credit rating we were able to get both of us on a car loan. That's going to do more for his credit file than a credit card.

So if you get something with a low limit and just use it for essentials (maybe it's your "groceries-only" card) and pay it off IN FULL, you can start building your credit history without too much risk.

The bank did tell us to be careful with store cards, because while they're very easy to get, they're also very ruthless about reporting to credit agencies, so they could be a risky choice for someone just starting out, if the person isn't good with credit.

[MapleLeafBaby 1]

Best thing I can say about getting credit cards and increasing your credit, is buy Suze Orman's book Young, Fabulous and Broke. She explains what a good mix of credit is, and how to start building your credit. She also explains how to piggyback off of someone else's established credit if you're a couple.

I got an Amex before I left with my Canadian credit history and transfered it to my SSN when I arrived here a few months later. I got a Macy's card, and as Capital One. They just increased my limit from the starting $500 to $1000 after only 3 months.

I didn't have to report any income with the Macy's card.

How did you apply for your Amex...you mean, just here in Canada through their Canadian sector? Is there a difference between Amex Canada and US? I would consider applying for one of those...

[trailmix 77]

Best thing I can say about getting credit cards and increasing your credit, is buy Suze Orman's book Young, Fabulous and Broke. She explains what a good mix of credit is, and how to start building your credit. She also explains how to piggyback off of someone else's established credit if you're a couple.

I got an Amex before I left with my Canadian credit history and transfered it to my SSN when I arrived here a few months later. I got a Macy's card, and as Capital One. They just increased my limit from the starting $500 to $1000 after only 3 months.

I didn't have to report any income with the Macy's card.

How did you apply for your Amex...you mean, just here in Canada through their Canadian sector? Is there a difference between Amex Canada and US? I would consider applying for one of those...

Get one in Canada with your great credit and while you are working. Just before you move: http://www.americanexpress.com/globaltrans...ansfer_en.shtml

[J&K 0]

15 points per inquiry?? Are you sure? That's horrible if true. I also have that noted on my credit report now - too many inquiries - which is completely stupid of course - inquiries should have absolutely no bearing on your credit - just another system that is totally illogical.

I don't think it can be 15 points though because I have had a lot of hits on my credit report and I noted on the last thing a bank sent me (they have to report your credit info to you if they do an inquiry) - that my credit score is actually higher than the last report I got? I'm just thinking if it was 15 pts per inquiry that my score would be pretty bad right now and it's not?

Ok, so I was off by a little bit.

It really all depends on how FICO wants to play that day...I've had inquiries cost me 12 points. Others 3 or 7. Like I said, it all depends.

BUT, as someone else had mentioned, if you're going for a car loan, or mortgage or something along those lines, and you have many inquiries in a short period of time, they will only count as One inquiry.

[MapleLeafBaby 1]

Best thing I can say about getting credit cards and increasing your credit, is buy Suze Orman's book Young, Fabulous and Broke. She explains what a good mix of credit is, and how to start building your credit. She also explains how to piggyback off of someone else's established credit if you're a couple.

I got an Amex before I left with my Canadian credit history and transfered it to my SSN when I arrived here a few months later. I got a Macy's card, and as Capital One. They just increased my limit from the starting $500 to $1000 after only 3 months.

I didn't have to report any income with the Macy's card.

How did you apply for your Amex...you mean, just here in Canada through their Canadian sector? Is there a difference between Amex Canada and US? I would consider applying for one of those...

Get one in Canada with your great credit and while you are working. Just before you move: http://www.americanexpress.com/globaltrans...ansfer_en.shtml

Thanks TMix I will do that.... now that we got our interview date, I feel like everything is in overdrive lol!