British Expats - Building credit

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- - Building credit (https://britishexpats.com/forum/usa-57/building-credit-891980/)

Re: Building credit

Quote:

Originally Posted by LouisB (Post 12462112)

Iâ€™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. .....

Quote:

Originally Posted by BenK91 (Post 12462150)

.... Looks like just sitting tight and not applying for other credit lines and paying off balances in full seems to be the way!

If you can persuade existing card issuers to increase your limit that will increase your available credit and therefore reduce your credit utilization, which increase your credit score. .... Just make sure that the card issuer doesn't pull a formal credit report before doing doing so. Otherwise sitting tight might be all you need to do and your card issuers may just jack up your credit limit (again) without you needing to ask.

Re: Building credit

Quote:

Originally Posted by BenK91 (Post 12462150)

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.

Six years of history and lack of history still dings me, albeit slightly.

Re: Building credit

I've actually found it quite easy to build credit.

Arrived in June 2017 and immediately was given a $2,000 unsecured credit card that I used to purchase everything and pay off immediately.

In October I was approved for finance on a new car by Jaguar.

Then this month I've just been approved for a mortgage and the rates I've been offered are based entirely on my score which is quite good, so no penalisation for lack of history.