Building credit
#1
Forum Regular
Thread Starter
Joined: Sep 2017
Posts: 204
Building credit
Hi guys,
I’ve recently become a permanent resident and I’m having trouble building my credit. I recently applied to be added to my wife’s furniture store credit card and it came back that my credit report didn’t exist. I’ve got car insurance and utilities so I’m lost as to why I can’t apply for a basic credit card to help me build credit more.
Has as anyone got any ideas about what I can do to build it more? I read online that it can take 4 months after me becoming a resident for my credit report to come into affect but I don’t know how gospel that is.
Thanks,
Joshua
I’ve recently become a permanent resident and I’m having trouble building my credit. I recently applied to be added to my wife’s furniture store credit card and it came back that my credit report didn’t exist. I’ve got car insurance and utilities so I’m lost as to why I can’t apply for a basic credit card to help me build credit more.
Has as anyone got any ideas about what I can do to build it more? I read online that it can take 4 months after me becoming a resident for my credit report to come into affect but I don’t know how gospel that is.
Thanks,
Joshua
#2
Re: Building credit
3 - 6 months for a decent score. But you need a trail
'I’m lost as to why I can’t apply for a basic credit card'
Which banks have you discussed a secured credit card with?
Haven't you been here for over a year? I'm unclear...
Does your wife have a credit card?
Are you working?
Buying things?
Doing normal life type things? And if so..do you operate on cash only? I'd be surprised...
'I’m lost as to why I can’t apply for a basic credit card'
Which banks have you discussed a secured credit card with?
Haven't you been here for over a year? I'm unclear...
Does your wife have a credit card?
Are you working?
Buying things?
Doing normal life type things? And if so..do you operate on cash only? I'd be surprised...
Last edited by Hotscot; Apr 21st 2019 at 3:45 pm.
#3
Forum Regular
Thread Starter
Joined: Sep 2017
Posts: 204
Re: Building credit
3 - 6 months for a decent score. But you need a trail
'I’m lost as to why I can’t apply for a basic credit card'
Which banks have you discussed a secured credit card with?
Haven't you been here for over a year? I'm unclear...
Does your wife have a credit card?
Are you working?
Buying things?
Doing normal life type things? And if so..do you operate on cash only? I'd be surprised...
'I’m lost as to why I can’t apply for a basic credit card'
Which banks have you discussed a secured credit card with?
Haven't you been here for over a year? I'm unclear...
Does your wife have a credit card?
Are you working?
Buying things?
Doing normal life type things? And if so..do you operate on cash only? I'd be surprised...
#4
Forum Regular
Joined: Sep 2012
Location: Wilmington, NC
Posts: 161
Re: Building credit
to be honest I haven’t been to my bank yet, I’m with Wells Fargo and have been since July 2018 when I got added to my wife’s account. But yes I work full time too and I always use my card to purchase stuff, I hate cash! My wife has a Nebraska Furniture Mary card but that’s about it right now until we both work (she’s at pharmacy college). I’ve been here a year, just recently adjusted my status and worked since January.
#5
Re: Building credit
Your insurance and utilities probably won't report anything to your credit report unless you miss a payment.
#6
Re: Building credit
You haven't asked your bank yet
Assuming you have direct deposit of your paycheck to WF then that would seem the most obvious approach.
In my opinion of course.
(But which card do you use for purchases?)
Assuming you have direct deposit of your paycheck to WF then that would seem the most obvious approach.
In my opinion of course.
(But which card do you use for purchases?)
#7
Forum Regular
Thread Starter
Joined: Sep 2017
Posts: 204
Re: Building credit
thanks for the advice!
#8
Re: Building credit
But you do have an account history with them.
They'll give you one no problem.They'll want their hooks into you.
You're a prime target.
Last edited by Hotscot; Apr 21st 2019 at 5:33 pm.
#9
Re: Building credit
I am somewhat mystified with your choice of words, that you were told that your credit history "didn't exist", as it usually "exists" after a few months, and therefore I wonder if there is a problem with your social security number, as the only reason I can imagine that the record "doesn't exist" is if you either don't have an SSN, or for some other reason no activity has been logged against it.
#10
BE Forum Addict
Joined: Aug 2013
Location: Athens GA
Posts: 2,134
Re: Building credit
Check here for more information on credit scores. https://www.selflender.com/learn/wha...s-credit-score
#11
Re: Building credit
I got a Secured Discover Card when I moved here last year. It's one of those ones where you deposit X amount of money which essentially becomes your Credit Limit. I put forward $500 and used the card carefully, spending no more than $100 of the total Credit Limit. After 6 months of regular payments, Discover wrote to me to advise that they would be sending a check with my $500 back, and they are giving me a $5000 Credit Limit as I have proven my Creditworthiness. I'd highly recommend going this route if you have zero Credit Score. I have been in the U.S a year this week and have a Score which hovers around the 790 mark which I'm more than happy with.
#13
Just Joined
Joined: Sep 2018
Posts: 2
Re: Building credit
I got a Secured Discover Card when I moved here last year. It's one of those ones where you deposit X amount of money which essentially becomes your Credit Limit. I put forward $500 and used the card carefully, spending no more than $100 of the total Credit Limit. After 6 months of regular payments, Discover wrote to me to advise that they would be sending a check with my $500 back, and they are giving me a $5000 Credit Limit as I have proven my Creditworthiness. I'd highly recommend going this route if you have zero Credit Score. I have been in the U.S a year this week and have a Score which hovers around the 790 mark which I'm more than happy with.
Edit: All this was via Bank of America. I think there are better options, the discover card jamackabi mentioned seems to crop up a lot. I simply went with BoA as with already had account with them.
Last edited by alt92; Apr 30th 2019 at 3:02 pm. Reason: missing information
#14
Re: Building credit
Thing is, your credit score is irrelevant. It's the history that matters, for the first couple of years at least.
#15
Just Joined
Joined: Sep 2018
Posts: 2
Re: Building credit
Thanks for the clarification - thought the history was considered as part of the credit score.