Want Credit?

[Moosker 7]

I have credit! Yippee!!!!

A few months back I wrote asking how to establish credit in the U.S. My one and only credit card was not reporting to the credit bureau, and was told by a bank officer that I had no credit history, I was basically invisible in the U.S. system, and this was confirmed by another bank. We were looking to do a mortgage, and clearly it wouldn't be possible.

Long story short I wrote on VJ asking for help. Someone mentioned being put on my husbands card as an "authorized user" and hopefully that would help, if it did I would be receiving credit cards in the mail.

Well it worked! I just wanted to let people to know as soon as you get here, become an authorized user on your spouses account. Literally after about 2 months I started getting credit card apps from other companies and they keep on coming (and I keep on shredding them). We are now in the mortgage process which is super exciting.

Just wanted everyone to know there is definitely hope to establish yourself in the U.S. Start early though. Good luck to all!

[patient2010 93]

[Krikit 1,165]

Can't wait to hear all about your new house and your house hunting experience!

[OBX 51]

Good stuff. Have fun house hunting.

[Kathryn41 3,205]

Great news! Yeah, that is what we did too. My husband added me as an authorized user to his credit card account (actually, he did that before we got married so I could pay for moving expenses while still in Canada - thankfully his trust was well founded ) .

Good luck with the house!

[Udella&Wiz 325]

Great news! Yeah, that is what we did too. My husband added me as an authorized user to his credit card account (actually, he did that before we got married so I could pay for moving expenses while still in Canada - thankfully his trust was well founded ) .

Good luck with the house!

Funny - we were told being an authorized user wouldn't report to your credit history and in my case it did not.

Are you sure you're not a joint account holder?

[Kathryn41 3,205]

Funny - we were told being an authorized user wouldn't report to your credit history and in my case it did not.

Are you sure you're not a joint account holder?

I am now but I was added first as an authorized user. This was back in 2003, though, so it is possible that the credit aspect has changed. I do know that it was a help to me. I was added as a joint account holder after our marriage.

[Moosker 7]

Thanks everyone!!! I'm so excited!!

[Flames9_RN 358]

When it comes to be putting on your USA citizens credit card, there are a few different ways it can be done, and to piggyback onto that persons credit card and get the benefit of the credit rating, it has to be a certain way. To be honest, I'm not sure on the official language one has to use! A few yrs ago, that chick on CNBC Suzzy stated that the credit card companies were trying to close that loophole, but they have not yet!

[Inky 1,111]

Funny - we were told being an authorized user wouldn't report to your credit history and in my case it did not.

Are you sure you're not a joint account holder?

yep my husband put me as authorized user on his capital one card after we got married and now I was able to get my own credit card through capital one after waiting a bit I got a few offers from them for my own personal card!

Capital one reports your credit every month as good credit without even using the card too.

[Canadiandggal 49]

I have to say that i am on all three of my husbands credit cards as a Authorized User and was told that I would not gain any credit from "his Cards". I will have to check into it some more but I have been on his accounts for over a year now.

Forgot to add CONGRATS and happy hunting

[Veronik 19]

Geez, this post is awesome! I was JUST wondering how to go about getting credit here... Will definitely get hubby to call Capital One, and go to Wachovia to be put as "authorized user", we'll see what happens!

[Deputy Purple 1,294]

The "Authorized User" loophole being closed is more about how Credit Scores are calculated.

Until a few years ago you could get a boost in your Score by being added to others' CC as an AU. The problem with this is that the AU isn't financially responsible for the account and in the case of people using it this way (many paid a service who in turn paid people with good payment histories so strangers we're being connected to scam the credit industry) most didn't even really have access to the account.

If you're an AU on someone's account IT WILL SHOW-UP ON YOUR CREDIT REPORT. Most of the new Scoring & Decisioning Models intentionally ignore AU Accounts.

If you really want to benefit then do the paperwork to be added as an additional (or co) account holder. While the AU loophole isn't completely closed yet it is getting smaller & smaller with each passing month.

FWIW, I've been working with Credit Reporting Software, including Scoring & Decisioning applications for over 10 years.

Edited September 30, 2010 by Bob 4 Anna

[nickbits 43]

That hasn't worked for my wife so far. I've had her as an authorized user on my Chase credit card about a year ago and she still has no credit history. I don't see how it could have worked since Chase does not ask for a SSN or any id when adding an authorized user.

[Moosker 7]

I was told I wasn't even "in the U.S. system" which totally threw me for a loop, that's when I was told by the VJ member to be added as an authorized user. Maybe it depends on the card/company/reporting structure, but that was maybe 3-4 months ago and literally every two weeks I get some sort of "use our card! You've been pre-qualified!" letter in the mail for American Express, Capital One, Discover, Navy Federal.

Also, just heard from our mortgage guy that I have a very good credit score -- I think I was more excited about that than the house deal