[CAUTION] CC for international students - SelfScore

[Anonymous]

According to user jsucool76 - who contacted the company directly - they do not report to CRAs if no SSN is supplied during application (one is not required). If a customer then gets a SSN and supplies it to SelfScore they claim they will then start reporting to CRAs. It is not clear at this time what CRAs they report to, if they "backdate" to the time you originally opened your account with them, and then how often they report. So request more details before embarking on this

Original post: 

I know this question has been asked here a few times. I came across this and thought i would share. It seems like a fantastic product.

Highlights:
- CC that only international students can apply for
- No SSN required. You apply by sending them your passport copy, immigration form (to prove you are a student), visa copy and a babk statement
- Starting limit $1000; no clue if it can grow
- no AF or from what i can tell no other BS fees
- APR 0% for 6 months, then 13-23% variable
- 1% cashback on all purchases

Www.selfscore.com

It appears to be a startup banking on the fact that international students have a lower default risk than the general US population. My assumption is they like to see some assets (although i don't know how much is enough - is 1k enough? 5k?). They probably don't HP.

Anyway, unless i am missing something this SelfScore seems to be a dream product for international students who want to establish credt history

[jsucool76]

Anything that seems like a dream product isn't. 

I've combed over their site, I didn't see anywhere that it said they reported to all 3 major bureau's. 

[Anonymous]

Looks interesting; always cool to see startups filling badly needed niches like this.

[Anonymous]

It is only worth it if they report to the CRAs. Also is it secured or unsecured?

[bigbang91]

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@Anonymous wrote:
I know this question has been asked here a few times. I came across this and thought i would share. It seems like a fantastic product.

Highlights:
- CC that only international students can apply for
- No SSN required. You apply by sending them your passport copy, immigration form (to prove you are a student), visa copy and a babk statement
- reports to all CRAs
- Starting limit $1000; no clue if it can grow
- no AF or from what i can tell no other BS fees
- APR 0% for 6 months, then 13-23% variable
- 1% cashback on all purchases

Www.selfscore.com

It appears to be a startup banking on the fact that international students have a lower default risk than the general US population. My assumption is they like to see some assets (although i don't know how much is enough - is 1k enough? 5k?). They probably don't HP.

Anyway, unless i am missing something this SelfScore seems to be a dream product for international students who want to establish credt history

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I believe if no SSN require, the card either will be consider as debit card,or you will need to deposit money as collateral ie secured card

[jsucool76]

banks are also required to take into account utility payments and whatnot when making a decision for credit.

[Callandra]

It does require a bank statement though (I'm assuming that's from a US bank)...most banks in the US will require SSN or a TIN. 

I also wonder if getting a card without an SSN will be a problem later if you do get one ie- two reports for one person).

[jsucool76]

I sent an email to them asking about reporting and they replied...


"We do not report to the credit bureau's as we do not require a SSN as part of the application process"

[Ghoshida]

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@jsucool76 wrote:
I sent an email to them asking about reporting and they replied...


"We do not report to the credit bureau's as we do not require a SSN as part of the application process"

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And therefore this is completely useless as far as credit building is concerned.

I'd reiterate: the best bet is to approach the credit union linked to your university and ask them for both (a) checking / savings accounts and (b) credit card.

SSN is not mandatory; even some banks are known to work without SSN. E.g. Chase doesn't need SSN for opening Checking / Savings. My credit union offered me both products without an SSN. After I started working as a TA, I got the SSN and updated it with the banks. 

It won't create multiple reports as long as you update your account with the SSN as soon as you get it. Also, SSN is not the only identifier; other records such as previous address, current address etc are used as identifiers and streamline records. 

I come from a country where there's no concept of SSN; there are too many identifying documents; and yet, Transunion (and later others) were able to put together all of my credit history. Don't worry, those analytics experts have got it covered.

[jsucool76]

Alright, so I asked for some clarification. 

They said you don't need a SSN to apply, but once you've obtained a SSN you can give it to them and they will begin reporting. No specifics on who they report to, though I asked.