Pulaski

Amex will issue a US card based on your UK (non-US) history with Amex, which isn't quite the same as "transfering your credit history". In other words it will do you absolutely zero good other than get you a US Amex card. Granted that will give you a leg-up to building your UE credit history, but that's all.

Also a credit score doesn't actually do much good until it has 6-12 months of activity because banks and finance companies don't just look at the score in a vacuum, they look at the length of the history too. You're not the first person to discover that you have stellar credit after just a few weeks.

sir_eccles

The ads usually also use the phrase "well qualified leasee"...

mrken30

Amex moved my UK history to my US card. I have 12 years of credit history but have only been here 7 years.

Harveyspecter

Thanks Guys.

Pulaski: Good point. When we move back next summer (all being well) she will have been out of the US for 2 years, so it may still be ok. I guess we can only try!

Mrken30: Interesting, I might look into that option if it helps a little. I guess at absolute worst the inlaws can help us out while we get some credit history.

Thanks for the IAS info too, but as we are both moving without jobs, it might be a gamble to commit to car payments beforehand!

Pulaski

If it's only two years you will have no problems.

Harveyspecter

MidAtlantic

You can check your credit position for free using CreditKarma or CreditSesame so it would be worth checking what they show for your wife, although I am not 100% sure if it will work from overseas. She may have to use her last US address.

Olly_

Amex used to report your 'Member Since' date (which was carried over from your UK card) to the credit reference agencies as the year of opening instead of when you actually opened the account.

Sadly they stopped doing this in the early part of this year, so new customers no longer get this leg-up when doing a global transfer.

mrken30

So the only advantage you get now is a US credit card with a decent credit limit. My first Capital One card here only gave me $500 limit which was next to useless.

Olly_

Pretty much! At least it lets you build a credit file without needing to go down the secured card route.

Amex gave me an $8000 credit limit to start.

Pulaski

You lucky bü99ër, HSBC only gave me a $200 limit.
IIRC Amex gave me a $5,000 limit, but bumped it up to $10,000 six months later.

Harveyspecter

So, I currently have a UK HSBC bank account. Is it worth getting a US credit card and if so, how do I do it?

Pulaski

You would have to ask HSBC, but remember HSBC in the US is a separate legal entity that is regulated in the US so you would have to open a new account with HSBC Bank USA. I do not know how easy that would be while you are in the UK.

fozzyb

If its a HSBC Premier, then just log in normally and go to the page with your balances on, in the top left there is a purple button that says something like "Go Global", click that, then "add country", fill in the form and then you get a call back to check all the details and set it up. It really was surprisingly simple.