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How to build my credit profile

How to build my credit profile

Old Jan 28th 2014, 2:23 am
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Default How to build my credit profile

Hello campers,

I need your advice.

My wife is an American citizen and I'm British.

I've received my SSN today and I'm eager to start building my credit profile in the US. So far, I have only a Bank of America and a TD bank account.

What do you reckon I do in order to start building a credit profile? Thanking you in advance.

Cheers!
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Old Jan 28th 2014, 4:34 am
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Default Re: How to build my credit profile

Hi and welcome to the forum.

If your question relates to the US, then you'd be best asking the USA sections of the forum. Just go to the main index page, and scroll down. You should find it OK.
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Old Jan 28th 2014, 1:03 pm
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Default Re: How to build my credit profile

Originally Posted by KingTei View Post
Hello campers,

I need your advice.

My wife is an American citizen and I'm British.

I've received my SSN today and I'm eager to start building my credit profile in the US. So far, I have only a Bank of America and a TD bank account.

What do you reckon I do in order to start building a credit profile? Thanking you in advance.

Cheers!
Hi...welcome to BE.

I have moved your thread over to our US forum. Someone should be along shortly to help you.
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Old Jan 28th 2014, 2:12 pm
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Default Re: How to build my credit profile

There is a very well written sticky on this subject - here - http://britishexpats.com/wiki/Fatbri...it_and_Finance
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Old Jan 28th 2014, 2:22 pm
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Default Re: How to build my credit profile

Originally Posted by KingTei View Post
.... What do ..... I do in order to start building a credit profile? . ...
In short, borrow money, pay it back. Repeat. The more you repeat it (within reason), the better your credit rating will become. The primary drivers of credit ratings are credit cards, car loans, consumer finance, and mortgages. Not all "credit" leads to a report to the credit bureau, so just paying your utility bills won't help.

In practice, getting a credit history is going to be very difficult (or unreasonably expensive i.e. fees for using a US credit card outside the US, and then sending US$ to the US to pay the bill) until you relocate to the US.
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Old Jan 28th 2014, 3:47 pm
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Default Re: How to build my credit profile

In practice, getting a credit history is going to be very difficult (or unreasonably expensive i.e. fees for using a US credit card outside the US, and then sending US$ to the US to pay the bill) until you relocate to the US.
What makes you think he isn't already in the US?

Indeed - I didn't think you could get an SSN until you were.
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Old Jan 28th 2014, 4:50 pm
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Default Re: How to build my credit profile

Originally Posted by Pulaski View Post
In short, borrow money, pay it back. Repeat. The more you repeat it (within reason), the better your credit rating will become. The primary drivers of credit ratings are credit cards, car loans, consumer finance, and mortgages. Not all "credit" leads to a report to the credit bureau, so just paying your utility bills won't help.

In practice, getting a credit history is going to be very difficult (or unreasonably expensive i.e. fees for using a US credit card outside the US, and then sending US$ to the US to pay the bill) until you relocate to the US.
In summary.

Time and debt.

The wiki, linked above covers the details nicely.
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Old Jan 30th 2014, 11:37 am
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Default Re: How to build my credit profile

Thanks to all of you lovely folks. I appreciate your advice very much

@ Pulaski: yes I've already crossed the pond.
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Old Jan 30th 2014, 11:44 am
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Default Re: How to build my credit profile

If your wife's credit is good, have her put you as an "Authorized User" on her credit cards and within a month or so, her credit history (all her back history) for those cards will show up on your credit reports at the credit bureaus.

Last edited by Michael; Jan 30th 2014 at 11:48 am.
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Old Mar 11th 2014, 7:59 pm
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Default Re: How to build my credit profile

Originally Posted by Michael View Post
If your wife's credit is good, have her put you as an "Authorized User" on her credit cards and within a month or so, her credit history (all her back history) for those cards will show up on your credit reports at the credit bureaus.
Awesome!!! Thanks
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Old Mar 12th 2014, 8:59 am
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Default Re: How to build my credit profile

Get a pre paid store, credit, bank card and start using it asap
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Old Mar 12th 2014, 10:51 am
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Default Re: How to build my credit profile

As Michael said , but get credit card, make a purchase that's big,( could be flight tickets, expensive clothes,obviously only things you would need) (not extortionate) and then make sure you pay it back as soon as possible, same as any other credit cards around the world to get a good credit rating.
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Old Mar 12th 2014, 12:34 pm
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Default Re: How to build my credit profile

Originally Posted by Sportychico View Post
Get a pre paid, store, credit, bank card .....
That's the tricky bit, right there!
...... and start using it asap
That's the easy bit, once the tricky bit is taken care of.
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