This might sound like an odd question, but I am sure someone here will be able to
assist and who has had the similar situation. I am currently awaiting my EAD and then
I will be able to get my SSN and work.

What I would like to know is, would I qualify for an auto loan right after I get a
job? So far I have heard from people that this is not really possible because one has
to have credit history. But how the heck am I suppose to have credit history when I
have a clean slate here?

Has anyone had this problem and what was your solution in obtaining an auto loan?
Does anyone know any websites I could goto for people without credit history?

Please help - I sure dont want to catch the bus!

Sincelery,

PCGuy760

--
Posted via Mailgate.ORG Server - http://www.Mailgate.ORG

I have similar experience with no credit history in US when I first moved here, and
had to start fresh by getting a credit card with $500 limit. My credit cards from my
home country had $15,000 limits, so it was quite an adjustment/inconvenience to have
to spend cash all the time, kinda like just getting out of colleage!

The bank even asked me to put up $500 into an account to cover my credit card! I
complained, and they drop that requirement. Anyway after one year, I got the limits
bumped up twice. This seems simple but it is important to get your credit rating
up... Also now all the credit card companies are sending me cards (if I sign up), so
it is starting to get easier.

Now on loans, I have no experience yet, but I suspect you can try an online car loan
application, and you will find out pretty quick if they will lend you anything. My
guess is they won't, until you have some credit history. Perhaps the car dealer will
do something for you after a large down payment...

Ray

    >
    >
    >
    >
    >
    >
    >
    >
    >
    >
    >
    >
    >
    >
    >
    >
    >
    >
    >
    >
    >

res081x2 wrote:
    >
    >
    >
    >
    >
    >
    >
    >
    >
    >
    >
    >
    >
    >
    >
    >

You will get a car loan, but at pretty bad rates. The best thing to build credit is
to get some store cards, e.g., Robinsons-May, Macy's, etc. Or a secured card where
you put money into an account and that then constitutes your credit limit. Or even a
car loan, but you should refinance that after a while to get a better rate.

-Joe

Yes, I agree. The thing is that you are now experiencing what even we as life long
US citizens experience the first time we buy a car, get a credit card and so on. If
you can find someone to co-sign for you that has good credit ratings, that is the
best way, but may or may not be an option for you. Please take my advise and DON'T
get caught in the credit trap. Incredibly high interest rates that make it
impossible to get out of debt. Believe me, you would be better off taking the bus.
Hope all goes well.

    >
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > I have similar experience with no credit history in US when I first[/usenetquote2]
moved
[usenetquote2]> > here, and had to start fresh by getting a credit card with $500 limit.[/usenetquote2]
My
[usenetquote2]> > credit cards from my home country had $15,000 limits, so it was quite an[/usenetquote2]
[usenetquote2]> > adjustment/inconvenience to have to spend cash all the time, kinda like[/usenetquote2]
just
[usenetquote2]> > getting out of colleage![/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > The bank even asked me to put up $500 into an account to cover my credit card! I[/usenetquote2]
[usenetquote2]> > complained, and they drop that requirement. Anyway after one[/usenetquote2]
year, I
[usenetquote2]> > got the limits bumped up twice. This seems simple but it is important to[/usenetquote2]
get
[usenetquote2]> > your credit rating up... Also now all the credit card companies are[/usenetquote2]
sending
[usenetquote2]> > me cards (if I sign up), so it is starting to get easier.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > Now on loans, I have no experience yet, but I suspect you can try an[/usenetquote2]
online
[usenetquote2]> > car loan application, and you will find out pretty quick if they will[/usenetquote2]
lend
[usenetquote2]> > you anything. My guess is they won't, until you have some credit[/usenetquote2]
history.
[usenetquote2]> > Perhaps the car dealer will do something for you after a large down payment...[/usenetquote2]
    >
    >
    >
Robinsons-May, Macy's,
    >
constitutes
    >
    >
better rate.
    >
    >

I had the same problem with clean credit history. Apparently, the best place to get a
car loan is your credit union. They gave me a good interest rate and did not ask for
an unusually high down payment. Online loan agencies turned my application down.

Good luck!

RM

    >
    >
    >
    >
    >
    >
    >

[usenetquote2]> > res081x2 wrote:[/usenetquote2]
[usenetquote2]> > >[/usenetquote2]
[usenetquote2]> > > I have similar experience with no credit history in US when I first[/usenetquote2]
    >
[usenetquote2]> > > here, and had to start fresh by getting a credit card with $500 limit.[/usenetquote2]
    >
[usenetquote2]> > > credit cards from my home country had $15,000 limits, so it was quite[/usenetquote2]
an
[usenetquote2]> > > adjustment/inconvenience to have to spend cash all the time, kinda[/usenetquote2]
like
    >
[usenetquote2]> > > getting out of colleage![/usenetquote2]
[usenetquote2]> > >[/usenetquote2]
[usenetquote2]> > > The bank even asked me to put up $500 into an account to cover my[/usenetquote2]
credit
[usenetquote2]> > > card! I complained, and they drop that requirement. Anyway after one[/usenetquote2]
    >
[usenetquote2]> > > got the limits bumped up twice. This seems simple but it is important[/usenetquote2]
to
    >
[usenetquote2]> > > your credit rating up... Also now all the credit card companies are[/usenetquote2]
    >
[usenetquote2]> > > me cards (if I sign up), so it is starting to get easier.[/usenetquote2]
[usenetquote2]> > >[/usenetquote2]
[usenetquote2]> > > Now on loans, I have no experience yet, but I suspect you can try an[/usenetquote2]
    >
[usenetquote2]> > > car loan application, and you will find out pretty quick if they will[/usenetquote2]
    >
[usenetquote2]> > > you anything. My guess is they won't, until you have some credit[/usenetquote2]
    >
[usenetquote2]> > > Perhaps the car dealer will do something for you after a large down payment...[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > You will get a car loan, but at pretty bad rates. The best thing to build credit[/usenetquote2]
[usenetquote2]> > is to get some store cards, e.g.,[/usenetquote2]
    >
[usenetquote2]> > etc. Or a secured card where you put money into an account and that then[/usenetquote2]
    >
[usenetquote2]> > your credit limit. Or even a car loan, but you should refinance that after a[/usenetquote2]
[usenetquote2]> > while to get a[/usenetquote2]
    >
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > -Joe[/usenetquote2]
[usenetquote2]> >[/usenetquote2]