Dataangel

Hi, It's been a while since I posted here. Ian got his conditional
green card and has been working. He's just about to hit his first
work anniversary.

But we've hit a little snag.... he can't get credit!

My credit history is not good. I'm currently enrolled in a debt
management program, so I can't apply for credit cards, or co-sign for
him on any loans or credit card applications.

We don't own a car, and the household utilities are in our roommate's
name. I've been looking into switching the phone bill over to Ian's
name, but getting time when we can do it when customer service is open
is tricky because of differing work schedules.

Our bank isn't associated with any credit card companies.

He's been turned down by Best Buys, Sears, Discover, and Capital One
Visa.

It looks like we're going to go the secured credit card route, but I
don't know which one to trust. Has anyone else gotten a secured
credit card?

I know we're probably not going to get one with a low interest rate,
but at this point that doesn't matter. It's only going to be used to
make a few small purchases that'll be paid off quickly. I just need
to find one with a low minimum deposit and that won't come back to
screw us up later.


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Quyrah_RV

You can go to your bank and get a secured credit card. I didn't go that route, but I know many people who have. Most banks have secured credit cards.

Best of luck


Q.

katesuiter1

I opened a checking account with Bank of America, and a couple of months later, I asked if I could apply for a secured credit card. I was offered one with a $500 limit, and I had to put a $99 deposit down. We're doing really well with it, and because it's a low limit, we're not over our heads, but we were told we'd still be establishing credit. (I read another post on this forum that said the banks hardly ever report secured card activity to the beureaus, but I don't know if that's true.) Why would the banks advise people with no credit to get these cards?

Never trust these crappy ads when they tell you you're guaranteed a credit card for a $249 deposit. All they'll do is send you a list of people you can apply TO for a card, and you'll be lucky if you even get that. Go to a well known banking institute, and one of them will cut you a break.
Kate. xxxxxx

Dataangel

It looks like we're going to go the secured credit card route, but I
don't know which one to trust. Has anyone else gotten a secured
credit card?

HOME: http://dataangel.net
IMMIGRATION: http://dataangel.net/winnipeg.html
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Eileen

just make sure they are reporting his credit record to the 3 credit bureaus.
Some places don't report credit at all. Some report every 3 months and some
every 6 months.
To report they will need his SSN. so, if they don't ask for his SSN then
you know they don't plan on reporting his credit record with them.
And stop filliing out credit applications. You have several turn downs.
Some places have a *rule of thumb* that if they check your credit history
and there are 3 turn downs then they automaticallly turn you down. They
don't even check any farther. So, you may be being turned down now simply
because you were turned down before.
I don't know the first thing about secured credit cards but I think I would
start with talking to my bank where I have a checking account. At least you
have a live body to ask questions.
And if you have trouble with credit.....then do something like make very
firm rules.....like charge your groceries then go directly home and put the
cash in a box or write a check out of the checkbook for the amount to
yourself. When the bill comes you have the cash to deposit to cover the
check written out for the bill or you have the checks to deposit to cover
the check written out for the bill. And don't allow yourself to charge
anything else. And no cheating on the checkbook balance because it isn't
*really* gone
After all this if for credit history.....not credit.
good luck,
e
"DataAngel" <[email protected]> wrote in message
news:[email protected]...
    > Hi, It's been a while since I posted here. Ian got his conditional
    > green card and has been working. He's just about to hit his first
    > work anniversary.
    > But we've hit a little snag.... he can't get credit!
    > My credit history is not good. I'm currently enrolled in a debt
    > management program, so I can't apply for credit cards, or co-sign for
    > him on any loans or credit card applications.
    > We don't own a car, and the household utilities are in our roommate's
    > name. I've been looking into switching the phone bill over to Ian's
    > name, but getting time when we can do it when customer service is open
    > is tricky because of differing work schedules.
    > Our bank isn't associated with any credit card companies.
    > He's been turned down by Best Buys, Sears, Discover, and Capital One
    > Visa.
    > It looks like we're going to go the secured credit card route, but I
    > don't know which one to trust. Has anyone else gotten a secured
    > credit card?
    > I know we're probably not going to get one with a low interest rate,
    > but at this point that doesn't matter. It's only going to be used to
    > make a few small purchases that'll be paid off quickly. I just need
    > to find one with a low minimum deposit and that won't come back to
    > screw us up later.
    > HOME: http://dataangel.net
    > IMMIGRATION: http://dataangel.net/winnipeg.html

jemstar

did you have a good credit history in the UK before you left?
I've been told that producing a favourable credit report from a UK credit agency (e.g. www.uk.experian.com/ or www.checkmyfile.com) on your UK credit history can score brownie points with certain US/Canadian banks and credit card companies.

I'm assuming you paid off everything when you left the UK so your report should show a settled mortgage (if you had one) and credit cards at least.

My source on this may suck but it maybe worth a try if all else has failed.

Good luck.

Pharrya

I started out with absolutely no credit too. What got it going was firstly getting a joint credit card with my wife. Then adding my name to all our phone, electric, gas etc bills. Then when we needed to get a new car, both our names went on the loan papers.

Basically I've been piggy backing my wife's credit record, until there was enough to get my cards etc etc.

Yosser

I had the same problem, you will get people saying "oh just go to sears or mervyns etc, everyone can get credit there", well yes maybe you can, but not if you have zero...nil U.S credit history.

I went with Premier bank secured card, I think it was $200 down and they took $75 out of that.

pay a little bit more than the required amount each month.
I waited a good 6 months. Then I joined Ballys fitness and they do a years contract, which showes up on your credit report too, pay by direct debit (this is a nice little loop hole told to me by a financial advisor).
I waited a few more months then I got a Target card, and a Rooms to go card.

my wife and I just brought a house, my credit score was higher than hers. It just takes a little patience.

Pimpbot

After reading numerous posts here and speaking to my new bank(Wells Fargo). As soon as I find work, I am going to apply for this secured card only http://www.wellsfargo.com/credit_car..._card/secured/ and not anything else that will more than likely screw up my credit rating.