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Building credit

Building credit

Old Apr 30th 2019, 5:14 pm
  #16  
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Default Re: Building credit

It's part of it, but no one cares about the score itself until they can see some history, because it is easy to get a score.

Score is only really useful when going for mortgages, after you've got a couple years of history behind it.
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Old May 2nd 2019, 4:32 pm
  #17  
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Default Re: Building credit

Can't recommend enough that those who can get put on a spouse's card as an authorised user asap. After finally getting an SSN (so long H4 non-person status), I trotted off to my credit union and asked for a credit card expecting them to give me a secured one as I do not yet have a job. Turns out that I had a credit score even though I had no SSN. And because the credit line on my OH's card (which is not even from the same bank) is quite large, they gave a non-secured card with a $1000 limit. Happy Days! I applied for Chase and Discover online and was rejected for 'not enough credit history' so I think it helps to explain the situation in person.
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Old May 5th 2019, 11:53 am
  #18  
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Default Re: Building credit

I got a Capital One basic credit card and one through my bank too, to get me started. Not the best credit cards, but they've allowed me to start building my credit history!
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Old May 5th 2019, 4:43 pm
  #19  
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Default Re: Building credit

Originally Posted by robUK81 View Post
They had no problem giving me a credit card with a $1500 limit straight away with no credit history.
My first credit card a few years back was $200.

I think my second was an awesome increase to a whole $500.
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Old May 5th 2019, 6:25 pm
  #20  
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Default Re: Building credit

I went to my bank Wells Fargo and opened a secured credit card. I didn’t have my own bank account at the time (although did have a joint account). Used it for small purchases and made sure I paid them off and my numbers soon started rising. The only issue I had with the Wells Fargo card, apart from the 22% APR, was they changed it to a secured card to a non secured card without telling me. It would have been nice to know.
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Old May 18th 2019, 2:32 pm
  #21  
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Default Re: Building credit

I would definitely talk to your bank to start with.

I've had issues with 'missing credit scores'; I bank with HSBC and when signing up to CreditKarma, I had an Equifax score but no TransUnion score. A year later, still no TransUnion score. I guess HSBC just don't report to that credit bureau. Either way, I setup with Intuit Mint for budgeting recently and they offer to add your credit information to the site. Intuit seems to only query TransUnion .. and so they just come back saying "Yeah we can't find any information on you."

It could be that whoever OP is applying for only checks a credit bureau his current bank doesn't report to.
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