fatbrit

Changing a secured card to an unsecured one shouldn't be an issue. It's closing a secured card account that might ding your score.

Steve_

I just did it a week ago, they closed the account and opened a new one, same score. Maybe it will change once I start paying the bill on the new card.

Bob

It might not have much affect on the score. Then again, the score is fairly meaningless because at this point, it's all about history and it's this that might, potentially have more issues for you. Then again, it might not.

sir_eccles

My understanding is that closed accounts in good standing can stay on your credit report for up to 10 years, therefore the effect of closing accounts is minimal.

Bob

yes, when you've got a lot of history, but when there's minimal to no history, it has greater impact on whether someone will do "yes" or click "no" on whatever you might be needing that history/score for.

fatbrit

AFAIK, good accounts stay there forever. Bad ones are 7 years, except IRS ones at 10 years. But which ones the FICO algorithm is biased towards remains a secret. Closing accounts when you've only got a slim history seems to ding it IME.

tonrob

Not so - I believe. Average age of accounts is important.

Curtis86

MY BIG PROBLEM RIGHT NOW. I initially believed I could build my credit score simply through a phone contract or taking out a credit card here. Didn't happen. AT&T wanted a $500 deposit on a iphone because I had NO credit Building your credit score in the US is so much more difficult. Back in the UK, we can easily get a CC or a phone contract which helps to establish credit in a short period. Building credit in the US is a whole new ballgame . I need to rent a place by January and I'm not exactly sure how I'm going to beable to rent since I have NOTHING on my credit file.

Chrisdc

A secured credit card (with a deposit) is the fastest way to get started. The bank may want to see healthy savings, or a paycheck coming in before they give it to you. ymmv.

For renting, it tends to be less about having a good score, more about just being in the system. That takes a month or two. Also, not absolutely everyone does a credit check. Maybe try places on Craigslist. Don't forget, everything is negotiable. Eg: you could offer to pay more money up front in lieu of credit check.

Last year I tried to rent an apartment in New York, with ten years of credit history. Because I'm on a visa and not a GC, they wanted two months rent for security and three months rent in advance. When the landlord asked for a check for $15,000, I grinned and backed out of the room slowly...

Curtis86

Bank of America offered me a secured credit card, which I think I'll take out in January. It's the only way I can build credit at this point. I have a GC, so maybe it may make things easier when it comes to the renting situation. I could probably pay three months upfron as I planned on doing so whilst I look for a J.O.B. I guess I'll see how it all pans out when the time comes.

Steve_

They don't keep anything for more than ten years. I had a pretty good credit history in the US but now it's basically blank except for the one card I have.

Curtis86

oh damn

Bob

Find a private rental, tend to be more flexible...offer up a larger deposit...there's always a way.

Bob

Depending on the rental market, that might have happened even if you had credit...most decent places in downtown Boston would be asking for first and last months rent along with 1-3 months worth of rent as a security all up front, plus you paying any realtor fee of anything from 1-3 months worth of rent.

Eeteet

Hi,

Does all this cc info count the same for mortgages?

I have the income for a loan, but having no credit history means my financial advisor can only get me a 317k mortgage right now.

I have spoken to visa, experian, BoA (I have uk cc with them) and none of them can link uk credit rating with SSN. I have been told that best way to get rating up is to just be added to wife's ccs. That way you get the score as either of you use it and pay it off.

On another note , would it be possible to transfer the money owed on UK BoA card (I use money in my uk bank account to keep up minimum payments) to a USA one, and transfer the balance and history over too?

If not, and as there seems to be no communication between the two countries, is there any reason why I just don't ever pay off uk credit card, as it wont have impact on usa credit?

Has anyone ever 'negotiated' with their uk cc company and said you're living in usa and can afford to pay xxx off or they get nothing? I.e agree to pay say 1k off a 5k balance and agree with them that is better for them than getting nothing?