Credit Score
#31
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On the subject of mortage. How long does it take to get a decent credit history/score to be judged purely on your US credit histroy rather than having to involve old UK banks etc that I have seen others have to do (which sounds like a real pain)? Anybody manage to get a US Mortage recently with only a couple years worth of history?
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#32
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On the subject of mortage. How long does it take to get a decent credit history/score to be judged purely on your US credit histroy rather than having to involve old UK banks etc that I have seen others have to do (which sounds like a real pain)? Anybody manage to get a US Mortage recently with only a couple years worth of history?
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#34
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Whether the electric company wants a deposit or not? 600 or so will probably see you right.
Whether the bank will give you an unsecured loan or not? Try 800+.
If you've got the two year history (FHA might work with one), give a mortgage a go. Try to compensate for your lack of history with other stuff -- a large deposit (20%+) and 6 months of PITI reserves will work better than yearning for stuff you haven't got and can't get.
Whether the bank will give you an unsecured loan or not? Try 800+.
If you've got the two year history (FHA might work with one), give a mortgage a go. Try to compensate for your lack of history with other stuff -- a large deposit (20%+) and 6 months of PITI reserves will work better than yearning for stuff you haven't got and can't get.
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My score was around 720 after a year of being on my wife's credit card and having a job. No loans or anything else to be scored on. Biggest dunk was still lack of history (it was apparently costing me about 20 points).
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#38
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Sounds about right - i am at 670 after 8 months of history (from being an authorized user on my husband's card, plus a couple of other cards i managed to open with 1 month history each). Husband's score is 800+ but still struggled to get finance for his truck due to lack of history, seems both are equally important.
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Sounds about right - i am at 670 after 8 months of history (from being an authorized user on my husband's card, plus a couple of other cards i managed to open with 1 month history each). Husband's score is 800+ but still struggled to get finance for his truck due to lack of history, seems both are equally important.
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Sounds about right - i am at 670 after 8 months of history (from being an authorized user on my husband's card, plus a couple of other cards i managed to open with 1 month history each). Husband's score is 800+ but still struggled to get finance for his truck due to lack of history, seems both are equally important.
I think it's mostly stemming from when people could piggy back off of someone elses credit score to build their own up. Part of the problem with those companies selling a piggy back service with people that did have good credit.
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#41
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On the subject of mortage. How long does it take to get a decent credit history/score to be judged purely on your US credit histroy rather than having to involve old UK banks etc that I have seen others have to do (which sounds like a real pain)? Anybody manage to get a US Mortage recently with only a couple years worth of history?
As for a mortgage as a previous poster said check out a FHA mortage or if you live in a rural area check out a USDA mortgage (rural housing).
I recently got a USDA mortage I was able to get a 100% mortgage and don't have to pay PMI every month. As the seller was ready to sell and move on to his next project he even paid our closing costs.
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I found a good video explaining credit score. You can see it on Youtube, search for "Understanding Your Credit Score - Bloomberg: Your Money".
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#43
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#44
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By way of contributing to this forum and thread, here is my timeline. FYI
Arrived here in June 2010.
Amex in Australia for years. US Amex approved by global transfer scheme no problems. Handsome limit
Rental lease signed with co sighner
Auto loan declined. Approved with co signer in sep 2010
Secured credit card approved in July 2010 for nominal amount
Did not do anything until June 2011.
Saved steady money in Wells and Chase
Strategically applied for capital one and chase cc cards on the same evening in June 2011. Both auto approved with 10k + limits
Just posting so you guys can get a feel. Plan to not do anything credit apps for 1 year and hope to get a mortgage. I want to wait up little as not sure where prices and economy is headed.
Credit score right now 760+
Arrived here in June 2010.
Amex in Australia for years. US Amex approved by global transfer scheme no problems. Handsome limit
Rental lease signed with co sighner
Auto loan declined. Approved with co signer in sep 2010
Secured credit card approved in July 2010 for nominal amount
Did not do anything until June 2011.
Saved steady money in Wells and Chase
Strategically applied for capital one and chase cc cards on the same evening in June 2011. Both auto approved with 10k + limits
Just posting so you guys can get a feel. Plan to not do anything credit apps for 1 year and hope to get a mortgage. I want to wait up little as not sure where prices and economy is headed.
Credit score right now 760+
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#45
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Just to add (pardon me if this is not helpful)
Score dropped 30 points on applying for the 2 credit cards. I hope once the credit card is reported with the limits, my score eventually will go up.
CapitalOne, I had no association before this application. Interest rate recd. was not the best interest rate advertised. I go middle of the range of the interest rate.
Chase, I got best interest rate. I have a checking and savings (I have been saving, direct salary credit, over the last 11 months.
Cheers,
Score dropped 30 points on applying for the 2 credit cards. I hope once the credit card is reported with the limits, my score eventually will go up.
CapitalOne, I had no association before this application. Interest rate recd. was not the best interest rate advertised. I go middle of the range of the interest rate.
Chase, I got best interest rate. I have a checking and savings (I have been saving, direct salary credit, over the last 11 months.
Cheers,
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