Best way to start credit for Newcomer?

[*Robert* 2]

My wife is asking me about getting credit established for her, because she has heard of other people getting credit right after receiving their SSNs.

What is the best way to establish credit when just starting out here in the US?? It was so long ago for me, I don't know. My credit is established. I would like to get hers going so that when we do go to get a mortgage, she can be listed, or at least not be a detriment.

Any ideas?

[Moon9393 0]

My wife is asking me about getting credit established for her, because she has heard of other people getting credit right after receiving their SSNs.

What is the best way to establish credit when just starting out here in the US?? It was so long ago for me, I don't know. My credit is established. I would like to get hers going so that when we do go to get a mortgage, she can be listed, or at least not be a detriment.

Any ideas?

Get her a secured credit card ! With Bank of america u put a deposit of minumum 300$ and thats gonna be your credit limit. After 6-8 months you gonna get back your deposit and your card become unsecured

[cmartyn 0]

And consider adding her to one of your own credit cards as well. It only takes 2 years to get great credit. 9 months will get you decent credit.

[gimygirl 0]

My wife is asking me about getting credit established for her, because she has heard of other people getting credit right after receiving their SSNs.

What is the best way to establish credit when just starting out here in the US?? It was so long ago for me, I don't know. My credit is established. I would like to get hers going so that when we do go to get a mortgage, she can be listed, or at least not be a detriment.

Any ideas?

have her piggy back your credit ... as i've posted in the past:

The fastest way to establish a credit history can be to “borrow” another’s record, either by being added to a credit card as an “authorized” or joint user or by getting someone to co-sign a loan for you.

Being added as an “authorized user” has its risks, as well, for you as well as the person giving you access to the card.

If your husband makes you an authorized user of his credit card, for example, his history with that account can be imported to your credit bureau file, giving you an instant credit record. If he has handled the account well, that reflects well on you. But if he hasn't, his mistakes would also become yours. Any late payments or other problems could make it harder for you to get future credit than if you’d established your history without help.

Even if you trust the person adding you to the card, you may not be able to piggyback on his or her credit. Some credit issuers won’t report authorized users to the credit bureaus, particularly if the user is not married to the original card holder. If the point is to give you a credit history, the person who’s adding you as an authorized user should call the issuer and ask how (or if) your status as a user will be reported.

[*Robert* 2]

Thanks for the replies everyone!

Mon, great information. I'm just waiting till we are officially married, and I will add her to both my accounts. We already have her SSN, so there won't be any problem adding her.

In this case, she doesn't have to worry about me! I have a score of 837!!!

Worked long and hard to get that!

[Lou Lou 1]

I piggy backed on OH's cards and now have a better credit score than him

[almaty 19]

Thanks for the replies everyone!

Mon, great information. I'm just waiting till we are officially married, and I will add her to both my accounts. We already have her SSN, so there won't be any problem adding her.

In this case, she doesn't have to worry about me! I have a score of 837!!!

Worked long and hard to get that!

you all american chopf##k

[*Robert* 2]

Thanks for the replies everyone!

Mon, great information. I'm just waiting till we are officially married, and I will add her to both my accounts. We already have her SSN, so there won't be any problem adding her.

In this case, she doesn't have to worry about me! I have a score of 837!!!

Worked long and hard to get that!

you all american chopf##k

:lol: Thanks brother Dean!

[Jaylen Brit 0]

What if your OH doesn't HAVE any credit cards (and isn't keen on getting any either)??

I have one (UK gold card) but he doesn't have the best credit in the world, and stays away from tempting CCs (which is fair enough, I know many people don't use or like them) - I'm thinking my only way is to get a secured card??

[Canuck Carrie 1]

Get her a secured credit card ! With Bank of america u put a deposit of minumum 300$ and thats gonna be your credit limit. After 6-8 months you gonna get back your deposit and your card become unsecured

I just looked into that, you have to be a PR or US Citizen to apply.

[Stefanie 1]

Get her a secured credit card ! With Bank of america u put a deposit of minumum 300$ and thats gonna be your credit limit. After 6-8 months you gonna get back your deposit and your card become unsecured

I just looked into that, you have to be a PR or US Citizen to apply.

We are banking with Wells Fargo and they have been great. We added me to my husbands account without me having a SSN, before I had a Green Card and before we even got married. A few months later each one of us applied for a secured credit card. No questions asked. I wasn't even a PR yet. We recently graduated to unsecured cards and have a joint credit card now. Try Wells Fargo!

[daisy16 0]

Get her a secured credit card ! With Bank of america u put a deposit of minumum 300$ and thats gonna be your credit limit. After 6-8 months you gonna get back your deposit and your card become unsecured

I just looked into that, you have to be a PR or US Citizen to apply.

I did this with $250 deposit at Bank of America. I won't be a USC for 3+ more years!

Edited July 12, 2006 by daisy16

[ssalburo 0]

6 months ago, before i got my GC, I opened a secured credit card at my hubby's bank, deposited $500 as savings and they gave me the $500 as my credit limit, we transfered phone bills into my name, he put all my names in his bills. Recently, i have just applied a few credit cards without any problem.

[Canuck Carrie 1]

I did this with $250 deposit at Bank of America. I won't be a USC for 3+ more years!

That's good to know, I was going to apply after getting my green card. BoA is the only large bank we have here in town, the rest are all local.

Here's a link for applying at BoA.

Edited July 13, 2006 by Canuck Carrie

[Jaylen Brit 0]

My OH's credit union doesn't OFFER secured cards - so looks like I'm gonna have to open a brand new account somewhere *sigh* I hope that's not gonna be too hard - no doubt I will have to wait and get an SSN before I attempt that - tho I seem to remember having an account with BofA a LONG time ago in Calif. - still got the versatel card for it

On the plus side bankrate.com show who DOES offer secured cards (and whether they cahrge a fee for them - advice I've seen is 'try not to get a secured card that charges a fee in addition to the security amount) - bankrate.com's listing may not be all inclusive tho.