Relocation Query
#1
Pompey Boy
Thread Starter
Joined: Feb 2006
Location: Torrejon
Posts: 143
Relocation Query
Having recieved notification of acceptance for the October H1B entrance a number of queries raise in my mind that I am sure those who have made the move may help.
Credit I have Amex credit and charge cards do I transfer them as although I am on top of my finances again now for a year after redundancy I was not and my credit score here is fairly crappy, my Amex spend is high as I use it for work and so would look good but do not want to transfer it if all the rest of baggage comes with even if its all now resolved.
Moving to Minneapolis my salary at $130k seems ok to live on giving our two fact finding trips given the hidden costs often mentioned what is a comfortable rent to pay on that salary?
Company my company is small $30kk and this is a new experience for them they are paying obviously moving costs etc and I have also got agreement that they have to help with underwriting expenses both literally and in terms of providing security on housing and other things which may help newbies who will struggle due to the power of FICO from people's experience is this reasonable and what type of level is normal.
Credit I have Amex credit and charge cards do I transfer them as although I am on top of my finances again now for a year after redundancy I was not and my credit score here is fairly crappy, my Amex spend is high as I use it for work and so would look good but do not want to transfer it if all the rest of baggage comes with even if its all now resolved.
Moving to Minneapolis my salary at $130k seems ok to live on giving our two fact finding trips given the hidden costs often mentioned what is a comfortable rent to pay on that salary?
Company my company is small $30kk and this is a new experience for them they are paying obviously moving costs etc and I have also got agreement that they have to help with underwriting expenses both literally and in terms of providing security on housing and other things which may help newbies who will struggle due to the power of FICO from people's experience is this reasonable and what type of level is normal.
#2
Re: Relocation Query
Moved your post to the correct forum so you might get the answers you are seeking.
#3
Re: Relocation Query
Having recieved notification of acceptance for the October H1B entrance a number of queries raise in my mind that I am sure those who have made the move may help.
Credit I have Amex credit and charge cards do I transfer them as although I am on top of my finances again now for a year after redundancy I was not and my credit score here is fairly crappy, my Amex spend is high as I use it for work and so would look good but do not want to transfer it if all the rest of baggage comes with even if its all now resolved.
Moving to Minneapolis my salary at $130k seems ok to live on giving our two fact finding trips given the hidden costs often mentioned what is a comfortable rent to pay on that salary?
Company my company is small $30kk and this is a new experience for them they are paying obviously moving costs etc and I have also got agreement that they have to help with underwriting expenses both literally and in terms of providing security on housing and other things which may help newbies who will struggle due to the power of FICO from people's experience is this reasonable and what type of level is normal.
Credit I have Amex credit and charge cards do I transfer them as although I am on top of my finances again now for a year after redundancy I was not and my credit score here is fairly crappy, my Amex spend is high as I use it for work and so would look good but do not want to transfer it if all the rest of baggage comes with even if its all now resolved.
Moving to Minneapolis my salary at $130k seems ok to live on giving our two fact finding trips given the hidden costs often mentioned what is a comfortable rent to pay on that salary?
Company my company is small $30kk and this is a new experience for them they are paying obviously moving costs etc and I have also got agreement that they have to help with underwriting expenses both literally and in terms of providing security on housing and other things which may help newbies who will struggle due to the power of FICO from people's experience is this reasonable and what type of level is normal.
The main need for credit is a mortgage and my experience is that it isn't difficult to get even an FHA (100%) mortgage as an alien in the US.
IMHO if I were you I'd avoid getting into debt if you don't need to.
#4
Forum Regular
Joined: Oct 2006
Location: Atlanta, GA
Posts: 175
Re: Relocation Query
On a salary of $130k I'd say you're more than OK and needing credit is the least of your worries. Why would you need credit?
The main need for credit is a mortgage and my experience is that it isn't difficult to get even an FHA (100%) mortgage as an alien in the US.
IMHO if I were you I'd avoid getting into debt if you don't need to.
The main need for credit is a mortgage and my experience is that it isn't difficult to get even an FHA (100%) mortgage as an alien in the US.
IMHO if I were you I'd avoid getting into debt if you don't need to.
#6
Pompey Boy
Thread Starter
Joined: Feb 2006
Location: Torrejon
Posts: 143
Re: Relocation Query
On a salary of $130k I'd say you're more than OK and needing credit is the least of your worries. Why would you need credit?
The main need for credit is a mortgage and my experience is that it isn't difficult to get even an FHA (100%) mortgage as an alien in the US.
IMHO if I were you I'd avoid getting into debt if you don't need to.
The main need for credit is a mortgage and my experience is that it isn't difficult to get even an FHA (100%) mortgage as an alien in the US.
IMHO if I were you I'd avoid getting into debt if you don't need to.
#7
Re: Relocation Query
Having recieved notification of acceptance for the October H1B entrance a number of queries raise in my mind that I am sure those who have made the move may help.
Credit I have Amex credit and charge cards do I transfer them as although I am on top of my finances again now for a year after redundancy I was not and my credit score here is fairly crappy, my Amex spend is high as I use it for work and so would look good but do not want to transfer it if all the rest of baggage comes with even if its all now resolved.
Moving to Minneapolis my salary at $130k seems ok to live on giving our two fact finding trips given the hidden costs often mentioned what is a comfortable rent to pay on that salary?
Company my company is small $30kk and this is a new experience for them they are paying obviously moving costs etc and I have also got agreement that they have to help with underwriting expenses both literally and in terms of providing security on housing and other things which may help newbies who will struggle due to the power of FICO from people's experience is this reasonable and what type of level is normal.
Credit I have Amex credit and charge cards do I transfer them as although I am on top of my finances again now for a year after redundancy I was not and my credit score here is fairly crappy, my Amex spend is high as I use it for work and so would look good but do not want to transfer it if all the rest of baggage comes with even if its all now resolved.
Moving to Minneapolis my salary at $130k seems ok to live on giving our two fact finding trips given the hidden costs often mentioned what is a comfortable rent to pay on that salary?
Company my company is small $30kk and this is a new experience for them they are paying obviously moving costs etc and I have also got agreement that they have to help with underwriting expenses both literally and in terms of providing security on housing and other things which may help newbies who will struggle due to the power of FICO from people's experience is this reasonable and what type of level is normal.
Are you coming over alone or with a spouse/partner or children? If there's more than just you relocating for work, $130,000 p/annum may not be as much as you imagine. For a start, you're more than likely need two vehicles which means paying more insurance, paying more for fuel, etc.
#8
Re: Relocation Query
Are you coming over alone or with a spouse/partner or children? If there's more than just you relocating for work, $130,000 p/annum may not be as much as you imagine. For a start, you're more than likely need two vehicles which means paying more insurance, paying more for fuel, etc.
If he has a large family and wants to send them to private school then I could imagine it being a bit tight.
#9
Account Closed
Joined: Nov 2003
Posts: 8,266
Re: Relocation Query
What Irn-Bru said. You could live comfortably as a family in LOS ANGELES on that salary, never mind MN.
#10
Re: Relocation Query
having just moved out of LA on from a salary like that I'd HAVE to disagree with your statement...
with a family of 4 we were surviving, comfortable & surviving... not exactly the same thing.
with a family of 4 we were surviving, comfortable & surviving... not exactly the same thing.
#11
Homebody
Joined: Jan 2005
Location: HOME
Posts: 23,174
Re: Relocation Query
I think a lot of this 'surviving vs being comfortable' depends on when in the housing cycle one has bought one's home, and/or whether one is bringing in any equity from the hot UK housing market.
#12
Pompey Boy
Thread Starter
Joined: Feb 2006
Location: Torrejon
Posts: 143
Re: Relocation Query
If I understand you correctly, your Amex is a corporate Amex. i.e. you are the card holder but the bills are paid for by your employer. If that's the case, this will not carry over to a credit report (UK or US).
Are you coming over alone or with a spouse/partner or children? If there's more than just you relocating for work, $130,000 p/annum may not be as much as you imagine. For a start, you're more than likely need two vehicles which means paying more insurance, paying more for fuel, etc.
Are you coming over alone or with a spouse/partner or children? If there's more than just you relocating for work, $130,000 p/annum may not be as much as you imagine. For a start, you're more than likely need two vehicles which means paying more insurance, paying more for fuel, etc.
My wife is accompanying me and my daughter who will be just 10. We need and do run two cars here and two lots of insurance etc etc.
My wife works part time and cannot work in USA this is offset by the fact my daughter is in fee paying school here and will not likely be in the States.
Our house cost in UK is covered for two years as we have let the house to MOD for two years and this covers mortgage and then a wee bit on top.
I do not expect to be loaded at all just comfortable, comfortable and compensated by new experience.
Last edited by gazzpfc; Apr 30th 2007 at 8:14 am.
#13
Re: Relocation Query
You got the company to stump for air fairs back to the UK for family emergencies? and an exit strategy in case it all goes horribly wrong?
Bit late now if you haven't I guess.
Credit history, find out who your employer uses for a bank and see if you can get a good rate through them...and read the finance articles in the wiki as there pretty good.
So what's the missus going to be doing?
Bit late now if you haven't I guess.
Credit history, find out who your employer uses for a bank and see if you can get a good rate through them...and read the finance articles in the wiki as there pretty good.
So what's the missus going to be doing?
#14
Pompey Boy
Thread Starter
Joined: Feb 2006
Location: Torrejon
Posts: 143
Re: Relocation Query
You got the company to stump for air fairs back to the UK for family emergencies? and an exit strategy in case it all goes horribly wrong?
Bit late now if you haven't I guess.
Credit history, find out who your employer uses for a bank and see if you can get a good rate through them...and read the finance articles in the wiki as there pretty good.
So what's the missus going to be doing?
Bit late now if you haven't I guess.
Credit history, find out who your employer uses for a bank and see if you can get a good rate through them...and read the finance articles in the wiki as there pretty good.
So what's the missus going to be doing?
My company uses a local credit union and Wells Fargo I believe.
My wife will be shopping As she cannot work its a shame because she is skilled.