How do i apply for credit now im here ?

[russell 0]

It seems that having good credit here in the states is much more important than it was in england. Im not sure if this is the right section to post in o appologies if it isnt.

Now im here and im a resident and have a year or so to relax from paperwork, how do i go about applying for a credit card ? ive seen some offers for people with bad credit.. these cards typically take your first born child limb by limb with each payment

I dont have bad credit i have no credit here, but do i still end up in the same bracket as someone who does have bad credit ?

I dont want to pay a bank 120annual fee/99 account setup fee/89 application fee.. totalling nigh on $250.. just to have a card in my wallet, id rather not have one at all..

Anyone had any experience in this department ? im getting placed onto our bank account tomorrow, and our bank manager is a realy nice guy, am i better off seeing what he can do for me ?

Thanks in advance,

Russ

[KarenCee 3]

It seems that having good credit here in the states is much more important than it was in england. Im not sure if this is the right section to post in o appologies if it isnt.

Now im here and im a resident and have a year or so to relax from paperwork, how do i go about applying for a credit card ? ive seen some offers for people with bad credit.. these cards typically take your first born child limb by limb with each payment

I dont have bad credit i have no credit here, but do i still end up in the same bracket as someone who does have bad credit ?

I dont want to pay a bank 120annual fee/99 account setup fee/89 application fee.. totalling nigh on $250.. just to have a card in my wallet, id rather not have one at all..

Anyone had any experience in this department ? im getting placed onto our bank account tomorrow, and our bank manager is a realy nice guy, am i better off seeing what he can do for me ?

Thanks in advance,

Russ

Hmmm...most on here have applied for a secured credit card, where you put a deposit down on it. That might be your best option. You could also try applying for a department store credit card. With either option, make a purchase or two and pay it off...voila...credit has started building up for you. You could discuss this with your banker as he might have an even better option for you.

As for a break in the paperwork...only after you've filed for AOS/EAD/AP (EAD and AP if you want to work and travel) are you free from paperwork for a while.

[Ephesia 0]

Capital One gave me my very first credit card with a limit of $200 in January last year. Annual fee: $39.00.

Three months later, they upped my limit to $500. I charged very small purchases to the card and cleared the balance every month. The balance on that card has been zero for awhile now.

In Sep, WAMU (Washington Mutual) sent me a credit card offer. I took it. Credit limit: $1,500. Annual fee: $0.00.

Three months ago, WAMU upped the credit limit to $4,000. But I have not charged anything to this card since the Black Friday sale last year. LOL.

I am also an authorized user on my husband's Best Buy Reward Zone credit card.

[tom&tata 2]

Ask your spouse to add you on her credit card as authorized user or joint account - make sure it is a card with good history.

You can apply secured card or partially secured card. Got partially secured card from BOA last September with annual fee $ 29, it is now unsecured with $ 1.5k credit limit.

Talk to the bank where you do your main banking about getting credit card from their bank. You might have better chance there.

It takes time to build credit history, good luck !

[featherB 1]

If you have a bank account here, your bank might well have a secured credit card you can apply for (I called a few banks that offer secured cards, but they all said I needed a checking account with them, so I ended up going with the US Bank one as that's who I opened my checking account with). With US Bank, you can pretty much choose your own credit limit, but have to give the bank a check for that amount, and they keep it in a deposit account for you until you get the card made 'unsecured' (after maybe a year, if you've kept it in good standing) or close the account. Mine finally arrived yesterday (the first one they sent out about a month ago apparently got lost), I got it with a $500 limit because that's all I'm prepared to give them! It does have a $35 annual fee (but it looks like most have a similar fee), and an APR of about 23%... but as I intend to pay off whatever I spend each month, the APR won't be a problem.

I also opened a Macy's card - didn't think I'd be able to get one, but was buying some kitchen things and the saleswoman talked me into it. It only has a $100 limit but I opened it in about the first week I was here, before I even had an SSN - apparently they should increase the limit fairly soon. I'm not bothered, but if it helps me build some kind of credit rating... Anyway, my point there was that store cards are apparently very easy to get, and should go towards getting a good rating!

[britty 1]

With an excellent credit rating in the UK, I was horrified when all I was offered was a secure credit card with an interest rate of 24% !! That was 3 months ago, and since that time, my husband has put me on his AMEX account and he has been using the AMEX with my name on for purchases etc. I have also opened a few store cards, bought a few items, and cleared the balance immediately. Even though it has only been a few months, I have now been offered a credit card with a $1000 limit and no security so my credit is obviously building.

[featherB 1]

With an excellent credit rating in the UK, I was horrified when all I was offered was a secure credit card with an interest rate of 24% !! That was 3 months ago, and since that time, my husband has put me on his AMEX account and he has been using the AMEX with my name on for purchases etc. I have also opened a few store cards, bought a few items, and cleared the balance immediately. Even though it has only been a few months, I have now been offered a credit card with a $1000 limit and no security so my credit is obviously building.

That's good, Britty - I was wondering how long it would actually take to go from 'no credit' to 'at least reasonably ok credit' so long as you do all the right things... how many months has it been, roughly?

[Marilyn. 340]

i got my first credit card last December... it was a Chase Amazon card with a 800 dollar limit...

i got a Capital one Credit card with a 600 dollar limit a few months ago...

[^KK^ 3]

good question.....

[Cécy 44]

If you don't want to do credit, you can always get a debit card. A lot of banks usually let you have a checking account with checks and debit card for no fee (you only pay to get the check books).

That's what I'm doing for now. My fiancé told me I can use it as a credit card (it won't make a difference for the bank but it gets me points or whatever).

I'm not sure for the credit part though.

[CardiffIan 0]

Has anyone opend an HSBC account in the US?

I have a HSBC account here in the UK, and they offer a service where they will open an account, with a credit card, at one of their US branches, for £100, and I it seems worth doing as i't will solve lots of hassle and bank transfer fees. Anyone tried it?

[simple_male 1]

Has anyone opend an HSBC account in the US?

I have a HSBC account here in the UK, and they offer a service where they will open an account, with a credit card, at one of their US branches, for £100, and I it seems worth doing as i't will solve lots of hassle and bank transfer fees. Anyone tried it?

Capital One and Orchanrd Bank are good cards for the new user. Please becareful with the credit cards. Use is very wisely, as it wil help you develop godo credit history. Use only what you can pay back at the before the payment deadline. Credit Card debt can be a big problem, if it is not used wisely.

[Lansbury 19]

That's good, Britty - I was wondering how long it would actually take to go from 'no credit' to 'at least reasonably ok credit' so long as you do all the right things... how many months has it been, roughly?

We got here Novemebr 2006. We had a joint account with Wells Fargo and my wife got a credit card from them with me as joint account holder on it. She also has a Chase card with me as an authorised user.

I checked my personal credit score last week and it was 739.

[Converse34 1]

Yes, by far the best way to earn credit it to be placed on your spouses accounts - checking/savings/credit card/mortgage (if possible). Be careful though, if you spouse has poor credit, this could carry over to you. Then if you start to have bills in your name - utility, cell phone, this will all help as well. If you must go down the secured credit card route or very high interest cards, make sure you use them and then pay them right away. Having one isn't good enough, you must demonstrate that you can use it and pay it off.

I use myfico.com to check my score - it is free for the first 30 days and gives you all kinds of tips on how to improve your score.

Edited June 27, 2007 by Converse34

[Lansbury 19]

Has anyone opend an HSBC account in the US?

I have a HSBC account here in the UK, and they offer a service where they will open an account, with a credit card, at one of their US branches, for £100, and I it seems worth doing as i't will solve lots of hassle and bank transfer fees. Anyone tried it?

I have an online savings account with them.

Problem with HSBC is they only cover a small part of the USA so it depends where you are going to be and if you are happy to do all your banking online or not. Over here you need to be more careful about use of ATMs as it doesn't seem you can use any bank machine for free like you can in the UK. If you banked with HSBC and had to use a fee machine to withdraw cash it could be expensive.

To check their branch locations http://www.hsbcusa.com