petitefrancaise

Just wanted to put something in here that I wrote about in another thread.

I found out the other day that if you became LPR and didn't update social security with your new status then when the banks/credit card/loan people run their checks on your applications then it shows your status as "temporary" even if you've been here for years. This will affect how your application is treated, not necessarily rejected but subjected to more questions and may result in a higher interest charge for the credit.

So, get along and update social security if this applies to you.

Smartyy

Thank you!
I got my GC a couple of months ago and have not done this yet. So looks like I really need to get on with it! I'll head down there tomorrow.

Hopefully it has no bearing on the FAFSA I just filled out... Also got my first credit card Monday and my credit score was 700.

fbf2006

Yes go ahead and do it. Me and my husband got our green cards last week and then wait to the social security office on Thursday 6/29, we got the updated cards on Monday 7/3. Pretty fast!

mrken30

Discover FICO is about the same as my BOA FICO which is about 10 higher than CK. CK , creditsesame, credit.com and quizzle all give the about the same score.

Harveyspecter

Funny enough, I was just about to post a thread on this! Thank you. I have been in the UK just over a year but due to having no job only got my first credit card in January (CapitalOne). It's a $500 limit for the moment but I've been paying it in full each month. 2 weeks ago I got a new car with finance so that's another line of credit. It's frustrating having only $500 on my card when which moving to a new place I've made a expensive purchases (furniture etc) but as you say, baby steps.

Does paying rent count as a line of credit? So far I have 1 credit card, and a car loan. My bank won't give me a card yet as they only do credit checks through one of the reference companies and I wasn't showing up. But the OP got an Amex so I might try that soon. Is it better to have a credit card with your bank or for security not to have all your eggs in one basket?

I think when I got my car loan the other week it was around 700, but they pointed out it is an artificially high number as it was only based on small purchases.

petitefrancaise

Harvey specter which bank are you with?

I know for sure that Wells Fargo won't give you an unsecured credit card at first on a temporary US visa. You could try advancial - they did.

Harveyspecter

I was with Banner Bank in the PNW, then switched to PNC when we moved to the midwest. I am an LPR so I don't think it's a visa issue?

I might try Amex too in a few months.

Jack8602

+1 for Advancial, they gave me $7,500 credit line only a week after i entered the US.

Harveyspecter

$7500 on a credit card?! Wow...I know someone who has a $12,000 credit line but thought that was just because he is a us citizen and lifelong customer of that bank.

petitefrancaise

I'm working as a relocation consultant and was shown some internal documents showing which credit lines will be given to which visa holders. L1/2 was secured card only. It could be that other banks have different policies though but it sounds like it is also the policy at your bank.

Try advancial- they also seem to be very "L1 friendly". Probably figured out what the salaries are.! We did not have to open a bank account with them, we just applied for their credit card based on the recommendation from AIG Inbound USA (did you get that?)

I don't think rent or utilities report to the credit bureaux unless there is a problem of non-payment on your account.

Funnily enough, Wells Fargo will issue an auto loan to L1 holders but I was told the rates are horrible. Who did you get your loan through? Rates?

Try getting a target or macy's card? Or buy a piece of furniture on credit - you know one of those 0% interest if paid within 12 months.

tom169

No.

Harveyspecter

Thanks for your reply. No I didn't get that but just did an application online for a credit card that seems to be processing, so hopefully that comes through


The loan is through Centra Credit union and I believe 4% which from what I could see wasn't too bad. I figure I have to take a hit when I'm getting established anyway.

Yeah we need another bed and a nice sofa so I'll get those on credit and pay it off over a few months Thanks.

Pulaski

Credit limits can get pretty silly in the US - in the crazy days pre-2008, I had several, at least three simultaneously, that had $20,000-$25,000 limits! I still have the one with the $25,000 limit, the limits on the others were slashed to $5k-$10k, but another card has recently been jacked up from $12k to $17k without me even requesting a limit increase!

I had a couple with £10,000+ limits in the UK nearly 20 years ago.
Probably not, I have heard a few of the very largest landlord corporations are members of the credit bureau and report payment and non-payment of rent. Most other landlords can in theory report tenants to credit bureau for delinquency, but I doubt most landlords bother, even if they are managing large apartment complexes.

Harveyspecter

It's all about the green here Pulaski

Jack8602

Yep,

They'll look at your salary, visa etc. and base the limit on that.

They were good for starting out, i used the card a few times, but now i've got a rating i use other preferential rate cards, i'll eventually close it out.