How do you get a US credit card

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Dec 13th 2013, 4:16 pm

#16

Bob

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Re: How do you get a US credit card

Quote:

Originally Posted by tennesseestud

We had a cash wedding gift and used it to open a joint account, which when I start working will become my sole account.

From that you can build up credit.

Imagine being 16 again

Cash and a bank account don't do anything for building up a credit history.

Dec 13th 2013, 4:28 pm

#17

Bink

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Re: How do you get a US credit card

Quote:

Originally Posted by Bob

Cash and a bank account don't do anything for building up a credit history.

+1
Better to use it for a secured card instead.

Dec 13th 2013, 4:29 pm

#18

hungryhorace

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Re: How do you get a US credit card

Quote:

Originally Posted by Bink

+1
Better to use it for a secured card instead.

Bank accounts still get reported to CRA's, remember. So they definitely go towards your 'history'.

Dec 13th 2013, 4:33 pm

#19

Bink

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Re: How do you get a US credit card

Quote:

Originally Posted by hungryhorace

Bank accounts still get reported to CRA's, remember. So they definitely go towards your 'history'.

But a bank account only reports negative, not positive information. A credit card reports both. Just having a bank account doesn't help you build up a credit score but can damage you if you have a delinquent account.
A bank account also doesn't count towards your average age of accounts so really has very little impact on your credit history at all (arguably none).

Dec 13th 2013, 4:37 pm

#20

Bob

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Location: MA, USA

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Re: How do you get a US credit card

Quote:

Originally Posted by hungryhorace

Bank accounts still get reported to CRA's, remember. So they definitely go towards your 'history'.

But they only report dings, not positives. Same for utilities and everything else.

Only credit reports on your history positively.

Dec 14th 2013, 3:07 pm

#21

Emma M

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Location: Kansas, USA

Posts: 2,620

Re: How do you get a US credit card

I asked the same question a couple of months ago. Give it time, they'll offer you one at some point. If you're in no particular hurry to build credit that is.