Building Credit Score - Tips & Tricks

[SimonBelgium 49]

I'm interested how long does it takes for credit history to start to build up, I'm on my husband's credit card for more then month, and got my own credit card today (to my surprise), though still can't register on Credit karma, because my information is not recognized yet.. So when I should be able to start tracking my history?

If CK recognizes your SSN, you're good to go. It took about 2 months after I got my SSN and first CC.

There will not be a credit file for you until a financial institution reports on it. Hence the 2 months.

On a side note, early on your credit score will be high (700 or so), but you should get a loan ASAP (a secured loan is great actually), which is a more trustworthy creditline when you're looking into getting a mortgage or carloan.

Most lenders like to see 12 months on those, and then you'll be acceptable for most financial institutions.

Takes time but the advice on here was worth it!

Good to hear

[Sean and Kristina 24]

Here's my experience thus far that may help:

My husband arrived on an F-1 student visa and we married after completely his first summer semester (he's an overachiever). I immediately added him as an authorized user to all of my credit cards knowingly full well that we'd not only need that for AOS purposes, but also for building his credit score. He received his EAD/AP combo card at the end of the year and once we returned from our holiday we had him apply for his SSN. The card literally arrived in the mail a few hours ago and I immediately contacted American Express, USAA, and Citi Bank to update his information with his new SSN. USAA was accomplished online and the other two phone calls to Amex and Citi were quick and painless. However, when I called Chase to add him to my Chase Freedom card they informed me that "he didn't need a SSN in order to be an authorized user." I replied, "I understand that because he has been an authorized cardholder for the last 9 months or so without a SSN. I'm asking that you now please do add his SSN so that the credit history can be properly reported to the credit bureaus." The agent insisted that they do not do that for authorized cardholders and that the only SSN associated with the account was mine. I informed him that I just did this with Amex and Citi without a problem and further elaborated as to why this is important for building credit score purposes. However, he simply would not budge and said, "Those are two different companies that conduct business in different manners than Chase. Additionally, there is no field for me to input this information even if I could." I wanted to post my experience here to see if anyone else received that response from Chase or if I should call back later with a different representative.

[simonschus 58]

Hi all

I am just wondering... if I was to use AMEX's Global Transfer from the UK to the US, would I be able to keep the UK AMEX that I used as the basis for my transfer to the US? It'd be shame to lose having a UK AMEX for when I return home every few months after receiving AP. I understand that my question is about the UK but presumably this might be similar for other countries too hence why I'm posting here more generally.

Simon.

Edited February 20, 2016 by simonschus

[SimonBelgium 49]

Hi all

I am just wondering... if I was to use AMEX's Global Transfer from the UK to the US, would I be able to keep the UK AMEX that I used as the basis for my transfer to the US? It'd be shame to lose having a UK AMEX for when I return home every few months after receiving AP. I understand that my question is about the UK but presumably this might be similar for other countries too hence why I'm posting here more generally.

Simon.

You should be able to keep your UK Amex, yes. Unless they start a fuss about billing address and such. I closed my foreign account separately from getting my US one.

[simonschus 58]

Wonderful - indeed, I was told this today when looking through the application. I found it eventually but there is a line that reads: "If you wish to keep your existing Card, you will continue to be billed any annual fees you are currently paying." [source here] This implies that one could possibly keep the card.

Another question - do you think that I would be able to apply for the card before I leave for the US on a K1? I could provide all the details of where we'll be living, etc.

Similarly, I have two AMEX cards - one with a higher credit limit but which hasn't been used for the past few months. One with a lower credit limit which is used more regularly. Do you think it matters which one I would use as the basis of my Global Transfer application?

[SimonBelgium 49]

Another question - do you think that I would be able to apply for the card before I leave for the US on a K1? I could provide all the details of where we'll be living, etc.

Similarly, I have two AMEX cards - one with a higher credit limit but which hasn't been used for the past few months. One with a lower credit limit which is used more regularly. Do you think it matters which one I would use as the basis of my Global Transfer application?

No, you need an SSN

It doesn't matter which card, as long as you have used it for more than 1 year.

[Yaztalksalot 127]

Hi There,

I've got an excellent credit score in my home country of Scotland, and would be able to get my credit report from Experian UK before moving over to marry my fiance! Is it worth bringing a copy of this, or does it not really make a difference about your credit score back home?

Thank you

Yasmin

[SimonBelgium 49]

Hi There,

I've got an excellent credit score in my home country of Scotland, and would be able to get my credit report from Experian UK before moving over to marry my fiance! Is it worth bringing a copy of this, or does it not really make a difference about your credit score back home?

Thank you

Yasmin

US banks or credit bureaus won't care about it at all.

However, if you bank with a credit union, which is usually a fairly small institution, one of the managers there may take that into consideration in decisions regarding credit.

[AlinaB 43]

On 2/6/2016 at 1:05 PM, Sean and Kristina said:

Here's my experience thus far that may help:

My husband arrived on an F-1 student visa and we married after completely his first summer semester (he's an overachiever). I immediately added him as an authorized user to all of my credit cards knowingly full well that we'd not only need that for AOS purposes, but also for building his credit score. He received his EAD/AP combo card at the end of the year and once we returned from our holiday we had him apply for his SSN. The card literally arrived in the mail a few hours ago and I immediately contacted American Express, USAA, and Citi Bank to update his information with his new SSN. USAA was accomplished online and the other two phone calls to Amex and Citi were quick and painless. However, when I called Chase to add him to my Chase Freedom card they informed me that "he didn't need a SSN in order to be an authorized user." I replied, "I understand that because he has been an authorized cardholder for the last 9 months or so without a SSN. I'm asking that you now please do add his SSN so that the credit history can be properly reported to the credit bureaus." The agent insisted that they do not do that for authorized cardholders and that the only SSN associated with the account was mine. I informed him that I just did this with Amex and Citi without a problem and further elaborated as to why this is important for building credit score purposes. However, he simply would not budge and said, "Those are two different companies that conduct business in different manners than Chase. Additionally, there is no field for me to input this information even if I could." I wanted to post my experience here to see if anyone else received that response from Chase or if I should call back later with a different representative.

Chase told us this as well - and this card appears on his credit reports. So somehow they are able to report without the social. 

[AlinaB 43]

Our story so far - My husband arrived here in March 2016 and I added him as an authorized user to the one card that allowed it without a SSN - Chase. He got his Social in December 2016 and I added him to my two other cards. By the end of January he appeared on all three credit agencies and had a score that almost matched mine (all ~800). We monitor his score with credit karma and it has slowly risen every week. He will apply for a  motorbike loan in April and we will see if they will let him be on a mortgage with me in May. I'll update when we hear more news. But for sure - anyone who wants to build credit - get added to someone's cards. Despite what some may say, it clearly works. 

[troika 307]

On 21/02/2016 at 6:08 PM, simonschus said:

Wonderful - indeed, I was told this today when looking through the application. I found it eventually but there is a line that reads: "If you wish to keep your existing Card, you will continue to be billed any annual fees you are currently paying." [source here] This implies that one could possibly keep the card.

 

Another question - do you think that I would be able to apply for the card before I leave for the US on a K1? I could provide all the details of where we'll be living, etc.

 

Similarly, I have two AMEX cards - one with a higher credit limit but which hasn't been used for the past few months. One with a lower credit limit which is used more regularly. Do you think it matters which one I would use as the basis of my Global Transfer application?

Old topic, I know, but I am in this boat at the moment. Have had UK AMEX for about 2 years now with quite a decent credit limit. I wish to get a US AMEX when I move over to the US under a K-1 visa, but my question is, do they require employment details in order to get the US AMEX ? Obviously on a K-1, I am unable to work for a good few months until I get my EAD at least ?

[gypsyqueen 103]

In 2015, I had no credit history but I got my first cc (visa signature) thru my credit union bank with $5k limit. We have a car loan and I'm a co-signer. This year, I applied for an AMEX and got approved with 10k limit. When the AMEX cc got reported to my credit, my bank increased my first cc's limit to 9k. It probably helped that my paycheck is a direct deposit to my bank. I pay everything on time and keep my spending at 10% the most on both cards. My FICO Score is 789.

[troika 307]

2 hours ago, gypsyqueen said:

 It probably helped that my paycheck is a direct deposit to my bank.

How else would they do it ... still by cheque ?

[SimonBelgium 49]

6 hours ago, troika said:

Old topic, I know, but I am in this boat at the moment. Have had UK AMEX for about 2 years now with quite a decent credit limit. I wish to get a US AMEX when I move over to the US under a K-1 visa, but my question is, do they require employment details in order to get the US AMEX ? Obviously on a K-1, I am unable to work for a good few months until I get my EAD at least ?

In short, yes, but the fact you already have an AMEX will help you get approved.

Once you have 2-3 paychecks, you should be good to go.

[troika 307]

Just now, SimonAndKimberly said:

In short, yes, but the fact you already have an AMEX will help you get approved.

Once you have 2-3 paychecks, you should be good to go.

Ah ok thanks, damn, so can't get it before my EAD