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Hi Everyone !
First off want to thank everyone for the wealth of knowledge on this board - I've learned alot about the credi scoring system, and I'm sure I will learn a ton more as I continue scouring this board for "gems".
I am new to the US - came here as an Intercompany transfer - After reading through the forums I made what I thought was an educated decision to open my first US bank account with DCU.
Along with my checking account, at the advice of posts on this board and the online chat asistant I applied for the unsecured VISA card. I was a bit nervois as I had only gotten my SSN a couple of days ago - but figured everyone must start somewhere right?
A few hours later I was approved with an initial credit limit of 3k!
Now what I want to do is strategize on my plan over the next year, and beyond. I would imagine I need more than 1 TL to build and establish a strong credit profile.
Having said this, I think obtaining an AMEX card is great because even if I start small the AAoA will benefit me as my credit grows.
I have a substantial income, and very stable job -- Do you think AMEX is the right choice? should I go for another type of card ? What about timing? I want to get into a space where I'm gardening 2-3 TL as early as possible. (im an efficiency freak).
Let me know what you guys think.
Thanks again for all of the great insight!
Welcome to the forums !
I'll move this post to Credit Cards forum for better visibility.
@dogblood wrote:Hi Everyone !
First off want to thank everyone for the wealth of knowledge on this board - I've learned alot about the credi scoring system, and I'm sure I will learn a ton more as I continue scouring this board for "gems".
I am new to the US - came here as an Intercompany transfer - After reading through the forums I made what I thought was an educated decision to open my first US bank account with DCU.
Along with my checking account, at the advice of posts on this board and the online chat asistant I applied for the unsecured VISA card. I was a bit nervois as I had only gotten my SSN a couple of days ago - but figured everyone must start somewhere right?
A few hours later I was approved with an initial credit limit of 3k!
Now what I want to do is strategize on my plan over the next year, and beyond. I would imagine I need more than 1 TL to build and establish a strong credit profile.
Having said this, I think obtaining an AMEX card is great because even if I start small the AAoA will benefit me as my credit grows.
I have a substantial income, and very stable job -- Do you think AMEX is the right choice? should I go for another type of card ? What about timing? I want to get into a space where I'm gardening 2-3 TL as early as possible. (im an efficiency freak).
Let me know what you guys think.
Thanks again for all of the great insight!
Can you give us a little more info on when you applied for CC with DCU? Is this your only current tradeline?
@dogblood wrote:Hi Everyone !
First off want to thank everyone for the wealth of knowledge on this board - I've learned alot about the credi scoring system, and I'm sure I will learn a ton more as I continue scouring this board for "gems".
I am new to the US - came here as an Intercompany transfer - After reading through the forums I made what I thought was an educated decision to open my first US bank account with DCU.
Along with my checking account, at the advice of posts on this board and the online chat asistant I applied for the unsecured VISA card. I was a bit nervois as I had only gotten my SSN a couple of days ago - but figured everyone must start somewhere right?
A few hours later I was approved with an initial credit limit of 3k!
Now what I want to do is strategize on my plan over the next year, and beyond. I would imagine I need more than 1 TL to build and establish a strong credit profile.
Having said this, I think obtaining an AMEX card is great because even if I start small the AAoA will benefit me as my credit grows.
I have a substantial income, and very stable job -- Do you think AMEX is the right choice? should I go for another type of card ? What about timing? I want to get into a space where I'm gardening 2-3 TL as early as possible. (im an efficiency freak).
Let me know what you guys think.
Thanks again for all of the great insight!
Welcome to the forum Congrats on your achievements thus far
If you really want an Amex card you will have to show CC history and the only way to do this is with time
Amex will deny you at this point of your credit history due to not enough time managing CC's
I would suggest you wait 9-12 months always paying on time, never ever late and apply after that time
Good luck and welcome to the USA as well
Edit spelling Ooops
@myjourney wrote:
@dogblood wrote:Hi Everyone !
First off want to thank everyone for the wealth of knowledge on this board - I've learned alot about the credi scoring system, and I'm sure I will learn a ton more as I continue scouring this board for "gems".
I am new to the US - came here as an Intercompany transfer - After reading through the forums I made what I thought was an educated decision to open my first US bank account with DCU.
Along with my checking account, at the advice of posts on this board and the online chat asistant I applied for the unsecured VISA card. I was a bit nervois as I had only gotten my SSN a couple of days ago - but figured everyone must start somewhere right?
A few hours later I was approved with an initial credit limit of 3k!
Now what I want to do is strategize on my plan over the next year, and beyond. I would imagine I need more than 1 TL to build and establish a strong credit profile.
Having said this, I think obtaining an AMEX card is great because even if I start small the AAoA will benefit me as my credit grows.
I have a substantial income, and very stable job -- Do you think AMEX is the right choice? should I go for another type of card ? What about timing? I want to get into a space where I'm gardening 2-3 TL as early as possible. (im an efficiency freak).
Let me know what you guys think.
Thanks again for all of the great insight!
Welcome to the forum Congrats on your achievements thus far
If you really want an Amex card you will have to show CC history and the only way to do this is with time
Amex will deny you at this point of your credit history due to not enough time managing CC's
I would suggest you wait 9-12 months always paying on time, never ever late and apply after that time
Good luck and welcome to the USA as well
Edit spelling Ooops
+1 I would definitely wait and develop some payment history before applying with Amex.
@dogblood wrote:thanks! I wasn't planning on applying for it anytime soon, so 9-12 months - anything else I should other than garden the card I have now?
That's all you need is to show Amex you can manage the card you have and this will open doors to all lenders
@myjourney wrote:
@dogblood wrote:thanks! I wasn't planning on applying for it anytime soon, so 9-12 months - anything else I should other than garden the card I have now?
That's all you need is to show Amex you can manage the card you have and this will open doors to all lenders
Also something to think about while you're gardening; I'm not sure how DCU does their CLI but after having 6 months of good payment history you could request for an increase. Others might chime in here but DCU might do SPs for their CLIs.
edit: typo