Building credit
#61
Forum Regular
Joined: Jul 2017
Posts: 79
Re: Building credit
That's my plan, my girlfriend has a TD bank account so will use them I think.
HSBC have told me I'll keep my UK bank as long as I have money in it, which I will be leaving some for Christmas presents etc..
They also have said I will be entitled to a Premier Account in the US also which will at least get me going! They've even said they would open it in the UK before I leave as long as I have a US address to send the correspondence to.
HSBC have told me I'll keep my UK bank as long as I have money in it, which I will be leaving some for Christmas presents etc..
They also have said I will be entitled to a Premier Account in the US also which will at least get me going! They've even said they would open it in the UK before I leave as long as I have a US address to send the correspondence to.
As a result my credit is probably not brilliant (still trying to sign up with a credit bureau) but I'm making inroads into paying off the initial outlay so it should hopefully improve over the next 6 months.
#62
Re: Building credit
HSBC were great for me. They gave me a credit card based on my US Salary rather than credit rating (I had no HSBC account in the UK) which has allowed me to get set up in NYC rather than having to split big purchases (furniture etc) into small chunks across the year.
As a result my credit is probably not brilliant (still trying to sign up with a credit bureau) but I'm making inroads into paying off the initial outlay so it should hopefully improve over the next 6 months.
As a result my credit is probably not brilliant (still trying to sign up with a credit bureau) but I'm making inroads into paying off the initial outlay so it should hopefully improve over the next 6 months.
#65
BE Forum Addict
Joined: Aug 2013
Location: Athens GA
Posts: 2,132
Re: Building credit
You can get one free credit report (but not a score) each year direct from each of the three credit agencies via annualcrediteport.com
That is now somewhat outdated when you can also get scores and credit reports free from other sources Eg credit Karma.
Many of the scores are Vantage rather than FICO but they are still useful in monitoring the overall trend of your score. It is a mistake to think in terms of one score. There are different versions of Vantage and FICO.
That is now somewhat outdated when you can also get scores and credit reports free from other sources Eg credit Karma.
Many of the scores are Vantage rather than FICO but they are still useful in monitoring the overall trend of your score. It is a mistake to think in terms of one score. There are different versions of Vantage and FICO.
#67
Forum Regular
Joined: Feb 2009
Posts: 88
Re: Building credit
Today is day 57 for me in the US and my Credit Karma app updates today and I have my first credit score of 681.
#69
Re: Building credit
My average age of accounts is about to hit a year old which will make a pretty significant difference my credit union said.
Obviously nothing you can do about this apart from wait it out and make payments on time and keep your utilization low (unless you intend to pay the balance off in full monthly).
#70
Just Joined
Joined: Feb 2018
Posts: 7
Re: Building credit
Earn an income, keep building your credit line and then pay it down without carrying a balance. It takes some time.
#71
Just Joined
Joined: Aug 2017
Posts: 6
Re: Building credit
You can receive one free credit report from each credit reporting bureau a year (Equifax, Experian and TransUnion).
Also, just a side note, CreditKarma uses the Vantage 3.0 scoring model as opposed to FICO's scoring model which more lenders use to determine your creditworthiness. The Vantage 3.0 model was created in 2006 by each credit reporting bureau which might provide a more accurate score, but 90% of lenders still use FICO's score.
When it comes to using services like CreditKarma, be aware that there are a bunch of different credit scoring models out there that they can use.
I typically get my score from FICO through my Citi Double Cashback card as they provide free FICO scores just for being a cardmember. I believe Discover and Capital One offer that feature as well. Getting it from your card might be ideal as you lessen the risk of your information being hacked.
Also, just a side note, CreditKarma uses the Vantage 3.0 scoring model as opposed to FICO's scoring model which more lenders use to determine your creditworthiness. The Vantage 3.0 model was created in 2006 by each credit reporting bureau which might provide a more accurate score, but 90% of lenders still use FICO's score.
When it comes to using services like CreditKarma, be aware that there are a bunch of different credit scoring models out there that they can use.
I typically get my score from FICO through my Citi Double Cashback card as they provide free FICO scores just for being a cardmember. I believe Discover and Capital One offer that feature as well. Getting it from your card might be ideal as you lessen the risk of your information being hacked.
#72
BE Forum Addict
Joined: Aug 2013
Location: Athens GA
Posts: 2,132
Re: Building credit
You can receive one free credit report from each credit reporting bureau a year (Equifax, Experian and TransUnion).
Also, just a side note, CreditKarma uses the Vantage 3.0 scoring model as opposed to FICO's scoring model which more lenders use to determine your creditworthiness. The Vantage 3.0 model was created in 2006 by each credit reporting bureau which might provide a more accurate score, but 90% of lenders still use FICO's score.
When it comes to using services like CreditKarma, be aware that there are a bunch of different credit scoring models out there that they can use.
I typically get my score from FICO through my Citi Double Cashback card as they provide free FICO scores just for being a cardmember. I believe Discover and Capital One offer that feature as well. Getting it from your card might be ideal as you lessen the risk of your information being hacked.
Also, just a side note, CreditKarma uses the Vantage 3.0 scoring model as opposed to FICO's scoring model which more lenders use to determine your creditworthiness. The Vantage 3.0 model was created in 2006 by each credit reporting bureau which might provide a more accurate score, but 90% of lenders still use FICO's score.
When it comes to using services like CreditKarma, be aware that there are a bunch of different credit scoring models out there that they can use.
I typically get my score from FICO through my Citi Double Cashback card as they provide free FICO scores just for being a cardmember. I believe Discover and Capital One offer that feature as well. Getting it from your card might be ideal as you lessen the risk of your information being hacked.
#73
Forum Regular
Joined: Jul 2017
Posts: 79
Re: Building credit
By next month I'll have the balance well down on where they advise it to be, so it should start creeping up further.
#74
BE Enthusiast
Joined: Jan 2017
Posts: 670
Re: Building credit
I’m just coming up to 1 year in the US. Been a good year overall.
My score is decent, about 760 or so.
My question is what to do next? Maybe nothing, sit tight?
I have two credit lines at this time, I pay everything off each month.
Things like Amazon visa still declined, seems because of length of history, too short (it’s backed by Chase, they have rigid strict rules).
My score is decent, about 760 or so.
My question is what to do next? Maybe nothing, sit tight?
I have two credit lines at this time, I pay everything off each month.
Things like Amazon visa still declined, seems because of length of history, too short (it’s backed by Chase, they have rigid strict rules).
#75
Re: Building credit
I’m just coming up to 1 year in the US. Been a good year overall.
My score is decent, about 760 or so.
My question is what to do next? Maybe nothing, sit tight?
I have two credit lines at this time, I pay everything off each month.
Things like Amazon visa still declined, seems because of length of history, too short (it’s backed by Chase, they have rigid strict rules).
My score is decent, about 760 or so.
My question is what to do next? Maybe nothing, sit tight?
I have two credit lines at this time, I pay everything off each month.
Things like Amazon visa still declined, seems because of length of history, too short (it’s backed by Chase, they have rigid strict rules).
I have two credit cards, T-Mobile account and car finance (although I put the maximum deposit down and plan to pay it off in full within the next 6 months).
The credit union me and my wife are with seem to tell me to sit tight as apparently when the average age of my accounts hit two years it should be pretty significant. I haven't done anything apart from pay off my balance in full each month and I've had my secured card with a $400 limit jump to an unsecured card with a $2000 limit and my other card jumping from a $750 limit to a $2000 limit. Looks like just sitting tight and not applying for other credit lines and paying off balances in full seems to be the way!