Oct
7
I have no credit history – How can i get a credit card and start to build credit?,?
Filed Under Credit History
I am a recent immigrant and i have no credit history, how do i go about building credit? My fiance has good credit – please help.
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8 Responses to “I have no credit history – How can i get a credit card and start to build credit?,?”
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Lots of ways. One way is to have your fiance put you as an authorized user on all his/her credit cards. He/She can choose to not allow an extra card to be issued and every month those cards are still open to be used, you will build your credit up. You can also go to local credit union’s and banks and get a small $200 signature loan and pay it back over 2 month period. Some cell phone companies report to the crediting agencies when you pay your bill. I know it is hard to get started but once you do keep paying on time and this country will treat you right.
My husband, when he immigrated, went to Bank of America and asked for a card where he paid $500 and used it like a debit card, and they eventually gave him credit after he established a good payment history on this prepaid card. Now his credit is much better than mine! Also, department store credit cards are easier to get approved for than visa and master card, and still build credit. So does financing a car. To build good credit, don’t open more than two visa/mc’s, don’t let your balance exceed 50% of your limit, and always pay on time! I learned the hard way as a college student. Good Luck!
You’ll probably need to get one of those prepais ones. You send them a certain aount of money and then you can charge that amount onto the card. It’s a good way to build credit so that later yo can get a regualr credit card.
try a store credit card, they have almost a 100% acceptance rate for newcomers. or google bad credit cards and they will accept you
Hello Welcome to a new Life
there are companies that for a fee will allow you to buy the right to be named an authorized user on their long standing A paper rated accounts with very low balances.
They have helped some of my clients out a few times when they needed the serious boost that this can, for the very short term, allow for you.
In the time before you attempt this, while you attempt this, and after you attempt this just make all your payments on time. Open a couple of cards asap, Capital One gives CC’s with low limits to starter credit types….so does chase for that matter. Don’t give your SSN# to anyone whom doesn’t absolutely need it…..It is a good rule of thumb to think this way because other than identity fraud avoidance another benefit of keeping your score a secret is less inquiries on your credit score — important because inquiries account for about 10% of your overall FICO score. The most recent 10 count against you for 12 months in terms for doing any lowering or dropping from your report. The credit inquiries from Mortgage Lenders are tri-merged (3-Pulls in one / So one from each of the 3 Bureau’s to insure accuracy of reporting for their underwriting dept scrutiny. ) and so count @ 3 times you inquired on your eligibility to gain credit. So remember this if anything else, if you must have a higher score when working with any loan agent then don’t give your SSN# to more than 1 person or count on to your score dropping by the time the chosen lenders employee re-pulls it to verify your credit. If you must shop then ask for a copy of your full report the agent — if he/she is honest will have no problem with it.
Good luck to you sir God Bless!
Dave C
look online or go to your bank and get a secured credit card, you can get one for as little as 200$, use it to by gas, groceries, little things but be sure and pay it off each month. pay it in full and your credit score will jump. each time you pay off completely your score jumps. wait 60 days and apply for a gas card or department store, such as target. it will take about 6 months before you receive pre approved applications in the mail. i do not recommed using your fiance’s credit cards, you are your own person and need your own credit score.
try mycapitolonecard.com they are very flexible…
a prepaid card scores over credit cards especially if the owner has a not so perfect credit history.
The rejection is non existent in case of prepaid credit cards, there are no credit checks, no employment verification, and approval is guaranteed.
With a bit of dilligent shopping and comparision of various prepaid credit card offers, it is not difficult to find a prepaid card with no annual fees, no late payment fees, no repayments, and no penalties whatsoever. So, the ownership costs of a prepaid card can be negligible.
With prepaid cards it is very easy to promote financial discipline. Since you can only spend what you have, there is no overspending, and hence no debts.
Some prepaid cards do report their use to major credit bureaus and hence are a good instrument to rebuild credit history.
Prepaid cards have wide acceptability, and in some cases they are even more readily accepted than credit cards. Get more details about prepaid credit card at: