AIG relocation assistance and HSBC international
#1
AIG relocation assistance and HSBC international
Hello All,
Apologies if I've missed some information on the forum: I've done a search on this and didn't come up with any recent (i.e. in the last year) information. I also emailed AIG a few weeks ago and still haven't received a reply. From reading on the forum it seems that AIG offer(ed?) a great USA inbound package which among other things helped with cheap auto and renters insurance, as well as assisting in opening a decent line of credit in the USA. Does anyone know if this service is still offered, and/or have used it in the last few months?
My personal situation is I've been issued a 10 year green card and just received my SS number/card. We're (my wife and two kids - all USC) planning to relocate to the FS bay area in January. I'm with HSBC in the UK and so can open an international account for £100. Does anyone know if I use this to get a dollar/US account with a credit card, will this be linked to my SS number and feed into my FICO credit score?
Any help very much appreciated!
Apologies if I've missed some information on the forum: I've done a search on this and didn't come up with any recent (i.e. in the last year) information. I also emailed AIG a few weeks ago and still haven't received a reply. From reading on the forum it seems that AIG offer(ed?) a great USA inbound package which among other things helped with cheap auto and renters insurance, as well as assisting in opening a decent line of credit in the USA. Does anyone know if this service is still offered, and/or have used it in the last few months?
My personal situation is I've been issued a 10 year green card and just received my SS number/card. We're (my wife and two kids - all USC) planning to relocate to the FS bay area in January. I'm with HSBC in the UK and so can open an international account for £100. Does anyone know if I use this to get a dollar/US account with a credit card, will this be linked to my SS number and feed into my FICO credit score?
Any help very much appreciated!
#2
Re: AIG relocation assistance and HSBC international
Not sure about the other bits, but for the sake of a month can't you open bank account for free when you arrive in the US (and one that has a proper branch network at that)? I wouldn't take the HSBC option if it were free.
#3
Re: AIG relocation assistance and HSBC international
AIG changed their name to Travelguard. Yes they still offer it. We are still using it. We saved more than the joining fee with out first lot of car insurance so for us, it has definitely been worth it.
#4
Re: AIG relocation assistance and HSBC international
Hi Tonrob,
sorry for not being clearer. From what I've read on this forum (and also the wiki) if I walk into a bank off the street with a brand new SS number, I have no credit rating and therefore access to credit and will therefore have take a lousy pre-paid secured credit card to start building a rating up which will, in six months or so, allow me to get a proper credit card with a low limit. By using HSBC (with whom I have a good credit history), I can potentially get a unsecured card with a good limit (i.e. tens of thousand not hundreds) while (presuming the account is reported to FICO) simultaneously building a credit rating. However in answer to your question, I will certainly also be opening an account with a bank that has a proper network and taking out a secured credit account to aid the credit building process.
Hi Weeze,
thanks for that! I'll give them a call in the next week and see if I can get this included in the relocation package.
sorry for not being clearer. From what I've read on this forum (and also the wiki) if I walk into a bank off the street with a brand new SS number, I have no credit rating and therefore access to credit and will therefore have take a lousy pre-paid secured credit card to start building a rating up which will, in six months or so, allow me to get a proper credit card with a low limit. By using HSBC (with whom I have a good credit history), I can potentially get a unsecured card with a good limit (i.e. tens of thousand not hundreds) while (presuming the account is reported to FICO) simultaneously building a credit rating. However in answer to your question, I will certainly also be opening an account with a bank that has a proper network and taking out a secured credit account to aid the credit building process.
Hi Weeze,
thanks for that! I'll give them a call in the next week and see if I can get this included in the relocation package.
#5
Re: AIG relocation assistance and HSBC international
Oh, and Wells Fargo International will let you open an expat account that will give you a real credit card straight away. Sorry, don't think I have their contact number any longer. You can't do it in branch, but can do it over the phone before you move to US. We also switched our Amex to a US one. This ment we got a real Amex taking our UK history into account. Officially you have to have had an Amex for a year in the UK, but we had only had it about 6 months.
#6
Re: AIG relocation assistance and HSBC international
Thanks Weeze,
Wells Fargo sounds good as it's a little late to open an AMEX account now! It sounds like Wells Fargo will do what I was hoping HSBC to do - except for free!
Thanks again.
Wells Fargo sounds good as it's a little late to open an AMEX account now! It sounds like Wells Fargo will do what I was hoping HSBC to do - except for free!
Thanks again.
#7
Forum Regular
Joined: Oct 2011
Location: San Diego, CA
Posts: 157
Re: AIG relocation assistance and HSBC international
HSBC Premier worked as advertised to me, but then I'd been with them in Canada before too. I'm not super-impressed with the logistics though - HSBC Canada lost all the cards, cheques and paperwork once, and it took ages to sort this out. At the end of the day I got a real credit card out of it and thinks link up through Global View so it was worth it for me.
However as others have pointed out their branch network can be limited to non-existent in many areas, so you may want to open another account for day-to-day use with a local bank anyway. Plus I do have a colleague who got denied a credit card due to "no US credit history" even though he used the HSBC international service, but I don't know if he'd been with HSBC for long.
However as others have pointed out their branch network can be limited to non-existent in many areas, so you may want to open another account for day-to-day use with a local bank anyway. Plus I do have a colleague who got denied a credit card due to "no US credit history" even though he used the HSBC international service, but I don't know if he'd been with HSBC for long.
#8
BE Enthusiast
Joined: Jun 2011
Location: California
Posts: 471
Re: AIG relocation assistance and HSBC international
Hi,
We are using AIG/Travelguard We have been really happy with their service. We have our car insurance and renters insurance with them. They also organised a unsecured credit card with HSBC with a $10K limit (we don't bank with HSBC). They also put us in touch with a company to get a good deal on a car. Oh not forgetting the expat mortgage (4% over 30yrs), although we didn't have a big enough deposit (10% down, another 10% in savings) as we still have our UK house and decided to rent first just to make sure
HTH
Vicki
P.S. We have only been here just over 2 months so it's all very recent for us
We are using AIG/Travelguard We have been really happy with their service. We have our car insurance and renters insurance with them. They also organised a unsecured credit card with HSBC with a $10K limit (we don't bank with HSBC). They also put us in touch with a company to get a good deal on a car. Oh not forgetting the expat mortgage (4% over 30yrs), although we didn't have a big enough deposit (10% down, another 10% in savings) as we still have our UK house and decided to rent first just to make sure
HTH
Vicki
P.S. We have only been here just over 2 months so it's all very recent for us
#9
BE Forum Addict
Joined: Jun 2010
Posts: 2,847
Re: AIG relocation assistance and HSBC international
We had a similar experience with AIG - they sorted out HSBC credit card with big limit, and also a car. It's well worth the $400 one-off fee - saved more than that in car insurance payments in the first 6 months!
Don't worry about having zero credit rating - it's had very little (as in none) impact on us since we got here- just finished our first year here, green card application in the works.
good luck!
Cheers
Harry The Spider
Don't worry about having zero credit rating - it's had very little (as in none) impact on us since we got here- just finished our first year here, green card application in the works.
good luck!
Cheers
Harry The Spider
#10
Re: AIG relocation assistance and HSBC international
Hi,
We are using AIG/Travelguard We have been really happy with their service. We have our car insurance and renters insurance with them. They also organised a unsecured credit card with HSBC with a $10K limit (we don't bank with HSBC). They also put us in touch with a company to get a good deal on a car. Oh not forgetting the expat mortgage (4% over 30yrs), although we didn't have a big enough deposit (10% down, another 10% in savings) as we still have our UK house and decided to rent first just to make sure
HTH
Vicki
P.S. We have only been here just over 2 months so it's all very recent for us
We are using AIG/Travelguard We have been really happy with their service. We have our car insurance and renters insurance with them. They also organised a unsecured credit card with HSBC with a $10K limit (we don't bank with HSBC). They also put us in touch with a company to get a good deal on a car. Oh not forgetting the expat mortgage (4% over 30yrs), although we didn't have a big enough deposit (10% down, another 10% in savings) as we still have our UK house and decided to rent first just to make sure
HTH
Vicki
P.S. We have only been here just over 2 months so it's all very recent for us
Will deffo look into this as a few have mentioned it's been worth the money.
#11
Just Joined
Joined: Dec 2011
Location: Atlanta, GA, USA
Posts: 10
Re: AIG relocation assistance and HSBC international
The only remaining issue you'll have is that it will take 6 months to get any kind of credit rating, so be prepared to pay deposits for things like TV service, mobile phone service, etc.
Good luck!
#12
Re: AIG relocation assistance and HSBC international
I used AIG/Travelguard - my company paid as part of my relocation package. They've been very helpful and at least I'm sorted for my renters and car insurance (Chartis and 21st Century, seems there's a pattern there!) without having to do all the ringing round.
I also had an HSBC account opened before I got here - I'm with First Direct in the UK, and as that's part of the HSBC family it made things very straightforward. The plus was having a checking & saving accounts and a credit card before I got here. The negative is that there are no HSBC branches anywhere near where I live in the US, and the telephone support is appalling by UK standards - over 30 minutes to answer the phone is standard. The customer service motto seems to be "if we can cock it up, we will".
HSBC has served it's purpose, but once my SSN is through I'm opening a checking account at a bank or credit union that serves my local area.
I also had an HSBC account opened before I got here - I'm with First Direct in the UK, and as that's part of the HSBC family it made things very straightforward. The plus was having a checking & saving accounts and a credit card before I got here. The negative is that there are no HSBC branches anywhere near where I live in the US, and the telephone support is appalling by UK standards - over 30 minutes to answer the phone is standard. The customer service motto seems to be "if we can cock it up, we will".
HSBC has served it's purpose, but once my SSN is through I'm opening a checking account at a bank or credit union that serves my local area.
#13
Just Joined
Joined: Oct 2011
Posts: 16
Re: AIG relocation assistance and HSBC international
Does anyone have any links to more info on the Wells Fargo or AIG/Travelguard packages? Im googling but without much luck! thanks.
#14
Re: AIG relocation assistance and HSBC international
#15
BE Forum Addict
Joined: Feb 2010
Location: Temecula, CA
Posts: 4,759
Re: AIG relocation assistance and HSBC international
It almost sounds too good to be true... it's $440 now but still seems very cheap, and I can't find much information on their website.
Maybe somebody could answer these questions (I've emailed them as well):
1. Are pre-existing medical conditions covered? Or do/can they increase the premiums if they do cover them?
2. That $440 is per year, per person, right? No discounts for kids or a family plan instead?
3. Is the auto program any good? Does it work like International AutoSource (buy before you head to the US) or is it basically just assistance in getting any car loan from any dealer?
Thanks.
Maybe somebody could answer these questions (I've emailed them as well):
1. Are pre-existing medical conditions covered? Or do/can they increase the premiums if they do cover them?
2. That $440 is per year, per person, right? No discounts for kids or a family plan instead?
3. Is the auto program any good? Does it work like International AutoSource (buy before you head to the US) or is it basically just assistance in getting any car loan from any dealer?
Thanks.