Is SSN mandatory to start a credit score?

[SimonBelgium 49]

• You don’t need a SSN or ITIN to generate a credit score. Credit scoring begins automatically with 6+ months of credit history, and is ID’d by the CRAs with as little as your name and address

I'd like to know more about this. Any reference from the CRAs themselves?

• Financial institutions usually don’t require a SSN to open new products. A passport is usually enough in person, but an ITIN can replace a SSN in online applications. All non-SSN IDs are not passed through to the CRAs.

Indeed, I've had a bank account in the US for a while, most banks will not give you an account as a non-resident, but some will.

• If you get an ITIN, you should update your financial institutions with this number, as this facilitates future identification for other products
• If you get a SSN, you should update all of your creditors, and also ask the CRAs to update your credit files

Sounds logical, any idea how to get the CRAs to update your credit files?

Thanks for your input Kitty !

Edited June 30, 2014 by SimonAndKimberly

[KittyKatalyst 0]

I'd like to know more about this. Any reference from the CRAs themselves?

I'm happy to chase this through and see if I can get a direct answer from one of the CRAs. I'm satisfied for myself that this is the answer as someone in my very situation (i.e. international student with no SSN or ITIN) generated a credit score via Amex after 7 months.

Indeed, I've had a bank account in the US for a while, most banks will not give you an account as a non-resident, but some will.

That's true. I asked a few banks when I was in Boston a couple of months ago, and it quickly became clear that a US residential address was vital. A state-issued ID (e.g. driver's license) also seemed to be important.

Sounds logical, any idea how to get the CRAs to update your credit files?

I'll ask that question as well. I imagine it would require mailing in documents.

[KittyKatalyst 0]

I'm happy to chase this through and see if I can get a direct answer from one of the CRAs.

It seems like the CRAs are hard to communicate with. Their websites make it almost impossible to log an enquiry. In lieu of that, I have found a well-sourced article that should serve as confirmation of what I have said:

http://www.bankrate.com/finance/credit/build-credit-without-social-security-number.aspx

Here is the main bit:

But she can start building one here even though she doesn't have a Social Security number. It's best to have one, though, to ensure her credit information is recorded accurately, says Maxine Sweet, vice president of public education at Experian.

"Name and current address are the minimum requirement, but we strongly encourage the lender to provide the SSN, date of birth and previous address if it was within the last two years," she says. "That additional information can be very important in helping us match the account to the correct consumer."

TransUnion also builds credit histories on individuals without a Social Security number. Equifax didn't respond to emails asking about their minimum identification requirements for a credit report.

So this info is verified for Experian and TransUnion, but not for Equifax. It would seem strange though if they decided to be the outlier who insisted on SSNs.

I'll ask that question as well. I imagine it would require mailing in documents.

The article above implies that the information comes via the credit provider, so that's where the update should go. I'm still guessing that it may be possible to snailmail each of the CRAs as well in order to unify your credit history records under the new SSN.

[KittyKatalyst 0]

You go into the local bank and request a credit card. First they ask for your name, employer, SSN, yearly income. They type in that SSN and get a prompt return on your credit history. No valid SSN or no credit history, you can not get the loan. The three credit reporting agencies in the US use the SSN as an ID number. That is they way they set it up. No SSN, no way to look up your information. No information, no credit extended to you--that includes CCs, car loans, home mortgages, etc. The only way you could build credit quickly in the US would be to get a SSN and transfer your investments into a US brokerage or financial firm under your SSN and wait about 6-8 months. You will then show a very high equity amount verses no debt and your credit score should reflect this. That is how my wife who has no job managed to have a 720 rating after only 6 months--she was co-owner on all of our investments and had no debt.

To play the credit game in the US you need a SSN. Period. End of Story. As that is how those that run the game set up the rules.

In the context of my original question, this answer was categorically wrong. Outside of that context, you are right to a limited degree. From everything I have read, the lack of a SSN may be enough incentive for some credit providers to walk away. But the credit history can still be pulled with as little as Name + Address.

To play the credit game in the US, you don't have to have a SSN. But it helps if you do.

Edited June 30, 2014 by KittyKatalyst

[KittyKatalyst 0]

One other way to get going on the credit score is to be an authorized user in a cell phone plan or credit card with someone else (U.S. citizen/LPR) who already has a good credit score.

I never considered the cell phone plan! My GF has an excellent score -- this could be a solid idea for us too. Thank you.

[SimonBelgium 49]

One other way to get going on the credit score is to be an authorized user in a cell phone plan or credit card with someone else (U.S. citizen/LPR) who already has a good credit score.

I've never heard the part about cell phone plan. Can you explain where this information comes from?

AFAIK, carriers only report non-payment to the CRAs, and post-paid plans only granted to people with a good credit score. Being on a post-paid plan is, AFAIK, not a line of credit. But interested to know if it would be considered as such !

[kzielu 1,149]

That's how I started building credit when my then boyfriend (now husband) let me join his postpaid cell phone plan as an authorized user. I had zero credit history before that. When the primary user pays the bill on time and accumulates good credit, the authorized user also builds up good credit like a "tag along." Same thing would happen to both the primary and authorized users for non- or poor payments and consequently bad credit.

And how do you know you started building credit score this way ? I was added to my wife plan with AT&T (we even switched to family plan) and it did exactly nothing to my credit score. As poster above said, it does only when not paid (negatively), does nothing when paid on time. As all other bills do.