Establishing credit!

[Dakine 26]

How does a immigrant go about establishing credit.

Looks like banks have put a stop to giving peeps credit cards easily.

I'm trying to get my wife a credit line of any kind. So far alls she gets for a reply when filing for a card is "No credit report".

She has a GOOD job as a CNA and makes about 30K a year.

Where can she start?

She has credit cards with my accounts but I guess that don't count!

[kaffy 2]

If she is a joint holder to your credit cards it counts (joint is different to being a supplementary card holder. In order to be added as a joint she will have to fill our paperwork, declare her SSN, etc. Once she becomes a joint holder the credit gets reported under both your names)

otherwise get her a secured credit card

[Big Papa Zone 93]

Go to capitalone.com and apply online. All she'll need is a SSN. I applied for one before I even got here (whlist waiting in the UK) and it was here waiting for me when I arrived.

They start you off with a piffling credit limit ($300 in my case) but guarantee to raise it (to $750 in my case) after 3 months if you:

A - Activate and use the card within 90 days of receipt

B - Make at least the minimum payment

C - Don't go over your credit limit or pay late

Really, that easy.

[milimelo 4,477]

How does a immigrant go about establishing credit.

Looks like banks have put a stop to giving peeps credit cards easily.

I'm trying to get my wife a credit line of any kind. So far alls she gets for a reply when filing for a card is "No credit report".

She has a GOOD job as a CNA and makes about 30K a year.

Where can she start?

She has credit cards with my accounts but I guess that don't count!

Since she is working, she should go to the bank where she gets her direct deposit and ask for a credit card. I got (unsecured) card two months after starting work (first limit 700, then 1000 three months later and now 1500).

[T_and_A 3]

interesting... ive also been meaning to ask this question here in VJ... how to build credit here in US. I understand how important credit is here in US. And can't understand everything in a day or two just by researching online. Though I prefer cash. I also work now and only has one bank account, joint account with my husband. It is where my income from my job goes on payday too. No credit card, but I have atm debit card, that I barely use. Will this count in building credit? Also, when we moved to our new house we bought just this March, (i am also the co-borrower for the mortgage loan) he also had our comcast bill named to me because he said to help build my credit.

My husband uses our bank account to pay bills online. He pays his credit card bills that i wasn't tied to with our bank account. My question is will i build my credit this way or do i really have to get credit card? If my husband has credit cards, paying it off with our bank account, will i also build a credit with that? The other house bills are all in my husband's name, except the comcast one and i also have my sprint service in my name, how does it affect building my credit? I really want to know more about this from experienced people. Where can i get good information about building credit? Is there a good site that you can recommend?

Any input will be appreciate. All of these are new to me and when I was in the Philippines, I never had a credit card because I've always preferred cash.

[Udella&Wiz 325]

How does a immigrant go about establishing credit.

Looks like banks have put a stop to giving peeps credit cards easily.

I'm trying to get my wife a credit line of any kind. So far alls she gets for a reply when filing for a card is "No credit report".

She has a GOOD job as a CNA and makes about 30K a year.

Where can she start?

She has credit cards with my accounts but I guess that don't count!

Since she is working, she should go to the bank where she gets her direct deposit and ask for a credit card. I got (unsecured) card two months after starting work (first limit 700, then 1000 three months later and now 1500).

They won't do it anymore - I recently (last month )tried this approach - the bank would not even give me a joint CC with my husband.

I've been working 1 yr, he has excellent credit, we make $200K combined - soooooooooooo..............

I went to Bank of America online and they have a secured Credit card which you can apply for. You send a check for an amount $300 - $5K i think - and that is what secures the card - in case you don't pay.

It will establish credit and eventually you can ask to have it transferred to unsecured.........I recently received it in the mail.

I have an excellent credit rating back in canada, but no one would consider even looking at it - so i start from scratch here

[Udella&Wiz 325]

interesting... ive also been meaning to ask this question here in VJ... how to build credit here in US. I understand how important credit is here in US. And can't understand everything in a day or two just by researching online. Though I prefer cash. I also work now and only has one bank account, joint account with my husband. It is where my income from my job goes on payday too. No credit card, but I have atm debit card, that I barely use. Will this count in building credit? Also, when we moved to our new house we bought just this March, (i am also the co-borrower for the mortgage loan) he also had our comcast bill named to me because he said to help build my credit.

My husband uses our bank account to pay bills online. He pays his credit card bills that i wasn't tied to with our bank account. My question is will i build my credit this way or do i really have to get credit card? If my husband has credit cards, paying it off with our bank account, will i also build a credit with that? The other house bills are all in my husband's name, except the comcast one and i also have my sprint service in my name, how does it affect building my credit? I really want to know more about this from experienced people. Where can i get good information about building credit? Is there a good site that you can recommend?

Any input will be appreciate. All of these are new to me and when I was in the Philippines, I never had a credit card because I've always preferred cash.

Bills in your own name will not establish credit anymore - used to be, but it recently changed as a result of the recession, this from the bank we go to.

You will not build credit if he pays his credit card out of your joint bank account. Having a joint bank account does not build credit either. See my post above about how I went about getting my own card.

Yes, you really need credit in your own name, I think it would be a shame to ride on your husband's coat tails or worse, what if something happened to him and you had to support yourself...how would you get a loan for a car? How would they check your credit for a lease?

Just makes good sense for every woman to have her own credit...period

Edited May 1, 2009 by Udella&Wiz

[Anh map 2,098]

being on the mortgage will help to build your credit history.

Also it is still pretty simple to get a dept. store card (Macy's, JC Penny) and start that way. Secured cards are good too.

[movingsoon1 0]

Thanks Damian! I went on the website. Once I get my SSN, I will apply for the Capitalone credit card. What I really liked about it is that you can even choose your own design.

[reeses16 8]

Perhaps a local credit union may be another place to try. As well as store cards (Walmart, Victoria's secret).

[What Happened? 4]

All you need to do is add her to an account which reports to the 3 major credit reporting agencies. Add her a loan of some sort (car), or add her to your credit card. It is best if you only add her to a line for which you have had for a long period of time and for which you have made all payments on time. After you add her to a good credit line or loan within 6 months of ontime pays, your wife will have a good credit score in the 700's. Good luck.

[Nikita2Charles 32]

Start Slow

Add her to your bank account, have a Joint Bank account.

Add her to your credit cards, she will have a card in her own name.

Add her to the mortgage Loan, that way both name will appear on the credit report

Once you do these steps wait a couple of months or so then ask her to apply for a Mayc's store card, and make sure as with the credit cards you make your payment on time, better yet pay off the balance each month that way you don't have to pay finance charges.

Since she's working ask her to get direct deposit of her paycheck, before you know it, the bank itself will start sending out credit card offers.

My wife went from 0 to over 700+ credit score in less than a year following these steps.

[What Happened? 4]

Start Slow

Add her to your bank account, have a Joint Bank account.

Add her to your credit cards, she will have a card in her own name.

Add her to the mortgage Loan, that way both name will appear on the credit report

Once you do these steps wait a couple of months or so then ask her to apply for a Mayc's store card, and make sure as with the credit cards you make your payment on time, better yet pay off the balance each month that way you don't have to pay finance charges.

Since she's working ask her to get direct deposit of her paycheck, before you know it, the bank itself will start sending out credit card offers.

My wife went from 0 to over 700+ credit score in less than a year following these steps.

It's actually not good to pay off the balance every month in the beginning. Let there be a small balance carried over but pay more than the minimum each month. Your score will be higher this way. Also dont add her to a whole bunch of accounts if they have not been in existance long or if they have any late pays, they will lower her score. She only needs two or three accounts of different types to sky rocket her score. Get her on a car loan, a credit card, and maybe a department store, but that's it. In three months have her pull her credit and pay for the score report as well. Then again at six months. you will see that she will have A credit. Checking your own credit does not affect your score at all.

[Dakine 26]

Start Slow

Add her to your bank account, have a Joint Bank account.

Add her to your credit cards, she will have a card in her own name.

Add her to the mortgage Loan, that way both name will appear on the credit report

Once you do these steps wait a couple of months or so then ask her to apply for a Mayc's store card, and make sure as with the credit cards you make your payment on time, better yet pay off the balance each month that way you don't have to pay finance charges.

Since she's working ask her to get direct deposit of her paycheck, before you know it, the bank itself will start sending out credit card offers.

My wife went from 0 to over 700+ credit score in less than a year following these steps.

Did all that except mortgage. Don't have one. Lats report Capital One came today saying she has no credit history. We have 2 credit cards together and cards in her name and has for over a year.

She does direct deposit and makes 30K plus. We'll try the manager and see what happens. I've had accounts there for 20 years. I'll threaten to pull themk if they don't come thru!

Edited May 5, 2009 by Haole

[What Happened? 4]

Start Slow

Add her to your bank account, have a Joint Bank account.

Add her to your credit cards, she will have a card in her own name.

Add her to the mortgage Loan, that way both name will appear on the credit report

Once you do these steps wait a couple of months or so then ask her to apply for a Mayc's store card, and make sure as with the credit cards you make your payment on time, better yet pay off the balance each month that way you don't have to pay finance charges.

Since she's working ask her to get direct deposit of her paycheck, before you know it, the bank itself will start sending out credit card offers.

My wife went from 0 to over 700+ credit score in less than a year following these steps.

Did all that except mortgage. Don't have one. Lats report Capital One came today saying she has no credit history. We have 2 credit cards together and cards in her name and has for over a year.

She does direct deposit and makes 30K plus. We'll try the manager and see what happens. I've had accounts there for 20 years. I'll threaten to pull themk if they don't come thru!

Bank accounts don't report to the credit reporting agencies unless you have a credit card with the bank or a loan through that bank. So adding her to your bank account does not establish any credit history. Direct deposit won't give her a credit history either. Please read my earlier post. Get her on your accounts which are of three different types...meaning an installment (car loan, mortgage, personal loan), a revolving (a credit card account), a department store. This doesn't mean that you have her apply for these. It means that you need to contact your lenders and credit card companies and ask them what paperwork you need to have her fill out so that she is added on to YOUR accounts. After this is done, and you have made about 6 months of payments, if you check her credit (from the 3 major credit reporting agencies) she will have an instant credit history without having to apply for anything. If your payments are on time and you only add her to 3 account types like I mentioned, her credit score in 6 months will be in the 700s meaning she will have an A credit score