Establishing credit!

[faryan 4]

Having a (joint) checking account doesn't affect your credit score whatsoever. Does your husband have a credit card? If you get him to add you onto his credit card as a joint account holder then that will help you in establishing credit. (NOTE: being a joint account holder is not the same as being a secondary card holder so make sure you get it done correctly)

Yes, if you plan on buying a new car soon and will take out a loan for it, get it in both your names.

*Laura*- You should be able to check it now on http://www.creditkarma for free. I've been here only 10 months and have a 750+ score already (1 joint credit card, 1 secured individual credit card, no loans or mortgages)

Thanks kaffy

[CaNdiD wiTcH 0]

One question?

Can a good credit history in other country would help you get a new credit card and establish a credit history in US?

[Pinay Wife 47]

One question?

Can a good credit history in other country would help you get a new credit card and establish a credit history in US?

My excellent credit history in the Philippines was useless here. I asked Citibank Manila if I could "carry over" my credit history to Citibank US but they said it was not possible. The history needs to be created here. I know it sucks but I guess that's life.

[C&D 0]

If you have access to USAA, apply for a credit card through them. My husband explained that I had just immigrated and they didn't bat an eyelash. They just asked for my alien number veriifed our address and issued me a $500 credit card. The rep advised me to never put more than $250 dollars on the card and to pay it in full each month. They also added me as a joint holder of his card.

I guess a lot of military folks marry foreign nationals so they are very used to helping the immigrant spouses build credit.

~ Catherine

Well USAA seems to have a problem with me!

My husband is military and has an account at USAA. He could open a joint account and i was added, no problem even when i was still living in France.

I could even open a personal account for myself when i arrived in the US.

USAA doesn't want to give me any type of credit card. I had different answers as to why:

- no credit history

- no income (i'm currently looking for a job)

HOW did you do it???

[sheila526 2]

I second Credit Karma, they use Trans Union. I also recommend Quizzle (they use Expeian) and they also have free credit report

[TrueNorth 0]

About the joint/supplemental issue, I have a bunch of credit cards and called up to get cards for my husband. He's not on my account as a responsible party, I just had cards issued in his name. At the time, I didn't KNOW I wasn't requesting the correct thing, but any card I got for him IS showing up on his credit report. How can that be, if I never filled out any paperwork or told them his SSN or anything? Like I said, I thought I was asking for joint, but since the rep just said they'd send me out a card with his name on it, I thought "Wow, that was easy."

Now I want to correct his credit report because technically he's not on those accounts but they're still showing up on his report. ANy ideas about this?

[featherB 1]

About the joint/supplemental issue, I have a bunch of credit cards and called up to get cards for my husband. He's not on my account as a responsible party, I just had cards issued in his name. At the time, I didn't KNOW I wasn't requesting the correct thing, but any card I got for him IS showing up on his credit report. How can that be, if I never filled out any paperwork or told them his SSN or anything? Like I said, I thought I was asking for joint, but since the rep just said they'd send me out a card with his name on it, I thought "Wow, that was easy."

Now I want to correct his credit report because technically he's not on those accounts but they're still showing up on his report. ANy ideas about this?

You don't need to correct his credit reports. Some issuers report to the CRAs even if the additional cardholder is an authorized user rather than a joint accountholder. My husband is an authorized user (all I had to give was his name and our address - they didn't ask for his SSN) on my American Express card. They can (and do) still report to the CRAs even without an SSN. Your husband is not "technically not on those accounts", and if having them show up on his credit reports is helping his credit history/score, don't do anything, you don't need to. And contrary to popular belief, authorized users (when actually reported to the CRAs by the issuer) share the same last name and/or address as the cardholder, then they DO still benefit FICO-wise from the history etc of the account.

Sounds like everything's fine - you've done nothing "wrong" and (assuming the history on the cards you've added your husband to is good) what's happened is just what you need it to!

[christera22 8]

Credit Karma is the best.Others that say free are not free at all. But i being new here, obviously I dnt have any credit history here and neither any jobs. People told me here that i can get a Capital One card very easily and they do work with new comers in USA> both discover and capital one has replied me back denying me, after i applied for credit card with them. They said only one cause 'insufficient report on credit history'. They are telling me to get credit history from the 3 unions.

What do they expect of a to be permanent resident ?? Total bullshit system. How are we supposed to build up our credit. Also they said credit history on my cards from India cant be transfereed to USA. Another idiotic thing is some jobs look for good credit rating ............... strange rules and strange country really. I really have no idea how to create a credit history now.

[featherB 1]

Credit Karma is the best.Others that say free are not free at all. But i being new here, obviously I dnt have any credit history here and neither any jobs. People told me here that i can get a Capital One card very easily and they do work with new comers in USA> both discover and capital one has replied me back denying me, after i applied for credit card with them. They said only one cause 'insufficient report on credit history'. They are telling me to get credit history from the 3 unions.

What do they expect of a to be permanent resident ?? Total bullshit system. How are we supposed to build up our credit. Also they said credit history on my cards from India cant be transfereed to USA. Another idiotic thing is some jobs look for good credit rating ............... strange rules and strange country really. I really have no idea how to create a credit history now.

Discover is not necessarily an easy card to get, and Capital One most likely won't give a card to someone with no credit history at all. Don't just keep applying for things, or you'll end up damaging your credit because you'll have multiple inquiries on your reports, but won't even have any accounts to show for it. A secured card is a really, really good way to start. Judging by your local office, you must live close(ish) to me - I'd recommend US Bank, based on my experience with them. I opened a checking account with them as soon as I moved to the US (before I even had an SSN), and as soon as I got my SSN I applied for a $500 secured card with them. The card unsecured after a year and they've now given me a $4,000 limit. Their customer service is really good, too. Bank of America also has a very good secured card which might be worth looking into. I think you can only get it by applying for, and being rejected for, an unsecured card - if they think you're "worthy" of their secured one, they will counter with an offer for it... they have a fully secured card and one where you have to put down a $99 deposit to get a $500 credit limit - obviously the latter would be the ideal one to get, but like I said, you have to be offered it, and I'm not sure they offer it if you have zero credit history. I started my credit history here by getting a Macy's card (when buying a few things there I was talked into applying for a store card - I didn't even have an SSN at that point, they just used my passport number and I updated a few weeks later when my SSN arrived!) - I'm not sure that Macy's is QUITE so easy to get now, but again, it could be worth a try. If you do go for Macy's, don't apply online - I think you have a much better chance of being approved if you're making a purchase instore. Just make sure it's a small purchase that will be easily covered by the $100 starting credit limit you're likely to get - although the good thing about Macy's is that they'll increase it every 3 months. I think mine's at $3000 now, but I never use it.

Honestly, I'd recommend Macy's and a secured card to anyone looking to build credit. After a few months, offers for other cards (e.g. Capital One) will start rolling in - most of which you want to ignore, but Capital One IS a decent one to pick up when you're starting to build your US credit, they just won't offer you it until you've got a few months of credit history under your belt. Once you get a preapproval in the mail though, you're virtually guaranteed to be approved.

[BermyCat 1]

Well USAA seems to have a problem with me!

My husband is military and has an account at USAA. He could open a joint account and i was added, no problem even when i was still living in France.

I could even open a personal account for myself when i arrived in the US.

USAA doesn't want to give me any type of credit card. I had different answers as to why:

- no credit history

- no income (i'm currently looking for a job)

HOW did you do it???

Phil called and explained that he wanted to add me to his credit card account because I needed to build a credit history here. The clerk suggessted that I get my own card as well. She ran my SSN, told me that it came back as "not sufficient credit history". She said "Let me see what we can do," put me on hold and then gave me a $500 card. They may have been more lenient because Phil's credit is excellent plus we had a credit card, life insurance, auto insurance on our cars, and renter's insurance with them.

~ Catherine

Edited July 7, 2009 by BermyCat

[princess03 2]

May be I am asking like a noob, but then i am new in this country and i need help from VJ ers in this matter.

I understand from earlier posts that for a new person who has just got his/her SSN its best to apply for a credit card(capital one), add to car loan/ house mortgage loan, a department store. Now i have some queries . I have listed them below :

i) my wife has a bad credit score . Now wd it be safe for me to join her cards, house mortgage loans ?

If she pays on these without being late then her bad credit has nothing to do with your credit

ii) Wd these department stores, credit card companies offer me card if i apply with my ssn , even if i dnt have any job ?

alot of them would not but its best to have some proof of income or u might be able to use your "household income"

iii) what about a credit card from a bank where we hold joint a/cs ? wd they offer card inspite my wif e`s bad credit score ?

If you go in and ask for a secured card i dont think they are going to check your wife's credit if she isn't on the application

iv) something like Bank of America. do i have to open a cheking or saving account with a small amount to apply for thier card ...and do we open it singly in my name or jointly.

I dont think you have to open a checking or saving account with BofA or whoever the card is with, but it would make it easier to have history with them, yes you can open the account in your name only.

All helps wd really be appreciated. Thanks a lot.

[princess03 2]

i have read through most of the post in this thread, there have been some good advice given about how to go about establishing and maintaining good credit, so i'm just going to give some (maybe the same) advice based on my experience...

ok for starters for people who have zero credit you can start off by opening a checking account at your local bank or better yet your local credit union(credit unions offer better/lower interest rates on loans and cards etc.)

you can then get a secured card with the bank/credit union you are with or if you choose to go with another bank, also you might want to consider getting department store cards, some of the more easier store cards to get are, macys, target and walmart...(its best to apply for these while you are in the store making a purchase you have a better chance of getting approved)..

words to the wise, please don't go on a card application spree because each time you apply for somthing and inquiry is added to your credit, having too many inquiry on your report in a short period of time will drop your credit score and looks bad to lenders/banks.

after you have applied and recieved your card you have to make you payments on time do not carry high balances (i do not suggest any balance above 20% of what the card is worth so for example, if you have a $100 card do not have a balance higher than $20 this is just my suggestion)

after using your card and paying ontime for about 6 months you should have a decent credit score and be able to attain credit limit increase with the cards you already have as well as other cards. be careful though as some higher limit cards tends tends to look at the length of your credit history and that would just have to come with time.

good luck hope that helps some

Edited July 9, 2009 by princess03

[SimoFati 0]

okay here is our situation, I added my husband to my american express cc and my chase mastercard, when he visited me the 1st time. about a year later with the social security card on hand , I added as a joint account holder of our checking and saving account. same day the person at bank of America asked me if I wanted to open their credit card and I said no but, could you try my husband ...he got approved for $3000 visa card. I am assuming it helped that I added him to 2 of my cc. few months later we got some new furniture and he got declined, they said it is because of job history.best of luck to you all

[C&D 0]

Well USAA seems to have a problem with me!

My husband is military and has an account at USAA. He could open a joint account and i was added, no problem even when i was still living in France.

I could even open a personal account for myself when i arrived in the US.

USAA doesn't want to give me any type of credit card. I had different answers as to why:

- no credit history

- no income (i'm currently looking for a job)

HOW did you do it???

Phil called and explained that he wanted to add me to his credit card account because I needed to build a credit history here. The clerk suggessted that I get my own card as well. She ran my SSN, told me that it came back as "not sufficient credit history". She said "Let me see what we can do," put me on hold and then gave me a $500 card. They may have been more lenient because Phil's credit is excellent plus we had a credit card, life insurance, auto insurance on our cars, and renter's insurance with them.

~ Catherine

Thank you for your answer! My husband and I didn't want to mingle our credit histories so i just got a secured credit card from Wells Fargo. Will try again to get an unsecured one with USAA in a year or so of building good credit!

[kaffy 2]

Thank you for your answer! My husband and I didn't want to mingle our credit histories so i just got a secured credit card from Wells Fargo. Will try again to get an unsecured one with USAA in a year or so of building good credit!

Wells Fargo will offer you an unsecured card after holding your secured card for a year anyway...