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Credit Card - The Best Deal for New Applicant?

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Filed: IR-1/CR-1 Visa Country: England
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Hi all

As a new arrival, have you applied for a credit card recently? What was the best rate you could find?

I had a great credit history in the UK but it means nothing now I live in the US! So I'm looking around for the best credit card deals (low APR) for people with no credit history. It's tricky to find out because banks seem to want you to apply first, then you geta quote.

Your help much appreciated :thumbs:

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Filed: Citizen (apr) Country: England
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There are many threads already here about this very subject. Basically if you have just arrived have no credit history then you will almost certainly have the only option of applying for a secured credit card.

Wells Fargo and Bank of America are two of the banks which supply these. Certainly the Wells Fargo web site gives full details about the APR of their cards

If you are here as a spouse of a US citizen get them to put you on their card as a joint account holder, better than as an authorised user for building up your credit score.

Search the forum for all the previous posts on this subject there is much and very good help there.

Edited by Lansbury

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Filed: Country: United Kingdom
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There are many threads already here about this very subject. Basically if you have just arrived have no credit history then you will almost certainly have the only option of applying for a secured credit card.

Wells Fargo and Bank of America are two of the banks which supply these. Certainly the Wells Fargo web site gives full details about the APR of their cards

If you are here as a spouse of a US citizen get them to put you on their card as a joint account holder, better than as an authorised user for building up your credit score.

Search the forum for all the previous posts on this subject there is much and very good help there.

My husband is an authorized user of his sisters credit card and that shows up on his credit report as though he is a joint account holder, so an authorized user is just as good as a joint account holder. I'm an authorixed user of my husbands card. We were thinking of adding me as a joint account holder with his auto loan, but I dont work and I was wondering if this looks bad while being added?

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Filed: Country: Morocco
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Go talk to a credit union. They often have the best REAL rates around (not those teaser rates that jump up after a certain number of months), and they are often willing to give people with no established credit a card, though with a lower limit.

My husband was able to qualify for a credit card with 11.9% interest through a credit union--sure, he could have gotten a lower rate (9.9) being on my account, but he wanted to build his own credit. I am stressing to him the importance of paying it off every month.

Credit cards can screw you! They prey upon people who don't know better! Be careful!

Carolyn and Simo

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Filed: AOS (apr) Country: Peru
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There are many threads already here about this very subject. Basically if you have just arrived have no credit history then you will almost certainly have the only option of applying for a secured credit card.

Wells Fargo and Bank of America are two of the banks which supply these. Certainly the Wells Fargo web site gives full details about the APR of their cards

If you are here as a spouse of a US citizen get them to put you on their card as a joint account holder, better than as an authorised user for building up your credit score.

Search the forum for all the previous posts on this subject there is much and very good help there.

My husband is an authorized user of his sisters credit card and that shows up on his credit report as though he is a joint account holder, so an authorized user is just as good as a joint account holder. I'm an authorixed user of my husbands card. We were thinking of adding me as a joint account holder with his auto loan, but I dont work and I was wondering if this looks bad while being added?

Doesn't always show up on the credit report. My husband is an authorized user on all four of my cards, and it doesn't show up on his credit report at all.

That said, he applied for an unsecured card at Bank of America with an introductory 0.00% APR and was approved, 1000 dollar credit limit. Who knows what the interest rate will go up to after six months, but meh.

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Filed: IR-1/CR-1 Visa Country: England
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Wow, thank you all for a great response!

Carolyn: That's interesting you recommend a credit union, my wife has details for one that I'm considering, and now you've had good experience with a CU I'm being swayed that way. The union is Century Federal. Like you found, they don't have the best rates, but then I think the best rates aren't available to people like me with little/no US credit history.

Meow Mix: This is exactly the experience I have had. I have actually been here for a while now, and my wife added me as a joint account holder. *However*, despite making a good number of purchases, and paying off the amount smartly, this has given me no sway at all when e.g. trying to get a cell phone contract. AT&T said I have insufficient history and refused me a contract (suggesting a pay-as-you-go instead). Clearly, it's imperative to have a card in the newcomers name only!

Lansbury: My assumption was there would be plenty of info on VisaJourney, but *FYI*, searching (and I tried!) provides little help ... my impression was it'd take hours to find the kind of info I was looking for i.e. specific examples of good credit card deals for new arrivals, and of course, any rate quoted more than a few weeks ago (or even days) may well be *out of date*. So ... I think it'd be a great feature for VisaJourney to have TOP TEN CHARTS for things like this, where people can submit examples of good deals for newbie arrivals (credit card rates, shipping companies, that kind of thing) and where others could vote to confirm/detract those submissions based on their own experience. Just an idea.

I'm off to check on Century Federal Credit Union! Thanks :thumbs:

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Filed: Citizen (apr) Country: England
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There are many threads already here about this very subject. Basically if you have just arrived have no credit history then you will almost certainly have the only option of applying for a secured credit card.

Wells Fargo and Bank of America are two of the banks which supply these. Certainly the Wells Fargo web site gives full details about the APR of their cards

If you are here as a spouse of a US citizen get them to put you on their card as a joint account holder, better than as an authorised user for building up your credit score.

Search the forum for all the previous posts on this subject there is much and very good help there.

My husband is an authorized user of his sisters credit card and that shows up on his credit report as though he is a joint account holder, so an authorized user is just as good as a joint account holder. I'm an authorixed user of my husbands card. We were thinking of adding me as a joint account holder with his auto loan, but I dont work and I was wondering if this looks bad while being added?

Actually it isn't as good. Yes it can show up on the credit report but it doesn't always and the information I was given, came from Equifax, was that it doesn't count as much as being a joint account holder, and your credit score builds up slower.

Edited by Lansbury

What to expect at the POE - WIKI entry

IR-1 Timeline IR-1 details in my timeline

N-400 Timeline

2009-08-21 Applied for US Citizenship

2009-08-28 NOA

2009-09-22 Biometrics appointment

2009-12-01 Interview - Approved

2009-12-02 Oath ceremony - now a US Citizen

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Filed: Other Timeline

It's our experience that these things take some time, unfortunately.

My husband has been here nearly two years. He tried a couple of times to get cards in his own name and was turned down due to lack of his own credit history. He wasn't keen enough to have his own account to be willing to go with a 'secured' card. It has been several months since he attempted to get a credit card of his own - maybe a year even.

We switched cell phone providers last October and tried to have the account listed with him as the primary account holder. We were unable to do that because of lack of credit history for him.

But shortly after his arrival, I added him as an authorized user on my card. Now, two years after his arrival, we are in the process of buying a home. Credit was pulled on him a couple of months ago. He has two of the three available scores (both in the high 700's). Apparently he is building a credit history purely off of that single 'authorized user' status of the one credit card. We have borrowed NO other money jointly since his arrival (no cars, furniture - nothing) so that is the ONLY place his credit score could be coming from.

He will be the co-borrower on our mortgage and the other credit score should follow after that.

So - if you are willing to give it some time - the puzzle pieces should all fall together. Frustrating, I am sure, for an adult in a new country. But for us, it has been the path of least resistance.

Edited by rebeccajo
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Filed: Citizen (apr) Country: England
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But shortly after his arrival, I added him as an authorized user on my card. Now, two years after his arrival, we are in the process of buying a home. Credit was pulled on him a couple of months ago. He has two of the three available scores (both in the high 700's). Apparently he is building a credit history purely off of that single 'authorized user' status of the one credit card. We have borrowed NO other money jointly since his arrival (no cars, furniture - nothing) so that is the ONLY place his credit score could be coming from.

That I think illustrates the difference between authorised user and joint account holder. I am a joint account holder on my wife's credit card, in 8 months I have a credit score on all three agencies in the mid to high 700s and two credit cards in my own name. American Express after 5 months (a UK Amex card account help there) and a Capital One card last month.

What to expect at the POE - WIKI entry

IR-1 Timeline IR-1 details in my timeline

N-400 Timeline

2009-08-21 Applied for US Citizenship

2009-08-28 NOA

2009-09-22 Biometrics appointment

2009-12-01 Interview - Approved

2009-12-02 Oath ceremony - now a US Citizen

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Filed: Other Timeline
But shortly after his arrival, I added him as an authorized user on my card. Now, two years after his arrival, we are in the process of buying a home. Credit was pulled on him a couple of months ago. He has two of the three available scores (both in the high 700's). Apparently he is building a credit history purely off of that single 'authorized user' status of the one credit card. We have borrowed NO other money jointly since his arrival (no cars, furniture - nothing) so that is the ONLY place his credit score could be coming from.

That I think illustrates the difference between authorised user and joint account holder. I am a joint account holder on my wife's credit card, in 8 months I have a credit score on all three agencies in the mid to high 700s and two credit cards in my own name. American Express after 5 months (a UK Amex card account help there) and a Capital One card last month.

You know, I'm not sure which my husband is. I remember having a discussion about the two with the rep when I added him but that's been so long ago..............

I do wonder if it might depend on the bank as to what they will let someone 'be'. The terminology alone leads me to believe you would need SOME sort of credit history to be a joint account holder.

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Filed: AOS (apr) Country: England
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Last week i opened an account with WAMU washington mutual, you get a free checking account and they open a savings account for you as well, they give you 5% interest, free checks and a debit card.

I also applied for a secured credit card which you can put on $300-$2000 dollers and it costs you $29 for the year which you pay at the end of the year, as long as you pay on time there is no problem, then after a while you will get a proper credit card.

They were very friendly and helpfull, so maybee check them out.

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Filed: IR-1/CR-1 Visa Country: England
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Thanks I will. I've just started a job and the Credit Union I was thinking of applying for needs a recent pay slip (I just found out) so maybe I'll hang on for a couple of weeks until I'm armed with all possible requirements. When I do, I'll Google WAMU too.

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Filed: K-1 Visa Country: Brazil
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Hi all

As a new arrival, have you applied for a credit card recently? What was the best rate you could find?

I had a great credit history in the UK but it means nothing now I live in the US! So I'm looking around for the best credit card deals (low APR) for people with no credit history. It's tricky to find out because banks seem to want you to apply first, then you geta quote.

Your help much appreciated :thumbs:

http://bankrate.com/

Under "Compare Rates", use the drop down to get to Credit Cards. Also remember that the minimum payment on credit cards will be going up to 4% of the unpaid balance. Use your credit wisely!

You may need to start with a "Secured" card where you make a deposit and that deposit becomes your "credit limit". You can build a credit history this way. Being added as an authorized user on someone elses account does not build any history for you.

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