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New Member
myflame
Posts: 4
Registered: ‎07-18-2013
0

which secured credit cards easily approved for new immigrant?

many thanks to this forum to let me know the importance of getting a credit profile. I'll soon fly to america as a new immigrant and i'd like to build my credit from scratch. Do you guys think i can get  a secured card from large banks like BOA, CITI, WF with blank credit history and no income in the first place?  I learnt that those banks will hard pull and often deny those with bad or no credit history even for their secured credit cards. What other options do i have just to establish my credit profile? 

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Senior Contributor
myjourney
Posts: 26,659
Registered: ‎02-07-2013
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Re: which secured credit cards easily approved for new immigrant?


myflame wrote:

many thanks to this forum to let me know the importance of getting a credit profile. I'll soon fly to america as a new immigrant and i'd like to build my credit from scratch. Do you guys think i can get  a secured card from large banks like BOA, CITI, WF with blank credit history and no income in the first place?  I learnt that those banks will hard pull and often deny those with bad or no credit history even for their secured credit cards. What other options do i have just to establish my credit profile? 


 

Welcome to the forum

Check out local credit unions in your area when you arrive and see if they offer secured cards and if so join one. Keep the card in good standing for a year then look into major banks.

Another option is opening a savings or CD and getting an secured card which is secured by the deposit.

 

Other than that it will truly be hard to obtain a card from the banks you listed with no credit file.

Also don't make the mistake of creating a file by applying for cards and getting HP's for denials because it will just set your future attempts at obtaining credit just that much further back.

Good luck and best wishes

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/13


New Member
myflame
Posts: 4
Registered: ‎07-18-2013
0

Re: which secured credit cards easily approved for new immigrant?

Thanks for the advice. It's very helpful to avoid any stupid attempt in my arrival.

 

Community Leader
Senior Contributor
myjourney
Posts: 26,659
Registered: ‎02-07-2013
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Re: which secured credit cards easily approved for new immigrant?


myflame wrote:

Thanks for the advice. It's very helpful to avoid any stupid attempt in my arrival.

 


:smileywink:

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/13


Regular Contributor
dude11
Posts: 237
Registered: ‎06-07-2011
0

Re: which secured credit cards easily approved for new immigrant?

Check out the Capital One Cash Rewards for Newcomers. APR is high at 24.9% and no annual fee but I would guess you qualify. Hope this helps.

Super Contributor
enharu
Posts: 7,132
Registered: ‎02-27-2013
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Re: which secured credit cards easily approved for new immigrant?

What status are you on?

If you are willing to open a checking / savings and deposit at least 10k, many banks will be willing to issue you a credit card, possibly even unsecured sometimes, even if you do not have SSN or just have no history established.

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
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09Lexie
Posts: 26,609
Registered: ‎09-13-2012
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Re: which secured credit cards easily approved for new immigrant?

Welcome to the forum!

In addition to the previous advice, SDFCU has a secured card without a HP. I am not aware if your status will be a denal. You should contact them before applying.
New Member
myflame
Posts: 4
Registered: ‎07-18-2013
0

Re: which secured credit cards easily approved for new immigrant?

I guess Capital One Cash Rewards for Newcomers is not a guaranteed approval. I leanrt  some newcomers are turned down anyway coupled with 3 HPs. Maybe it's just a matter of luck.

 

 I'll be a permanet resident with SSN staying in Chicago and i'll probably not make a decent deposit in my arrival because of the low interest rate here. In my current country you can expect a annual interest rate at 4% through CD. I think i'll go with the safe and conservative way by getting a secured card from small bank or local CU first.   

 

Assuming that i'll get a secured card, graduating in one year and put the graduated unsecured card in good standing for another year, is it possibly for me to get a 0% APR in a AUTO loan?  

 

 

 

Frequent Contributor
NewtoCredit80
Posts: 324
Registered: ‎04-12-2013
0

Re: which secured credit cards easily approved for new immigrant?

Bank of America card graduates to unsecured after one year. Apply for CapOne Newcomer after your 6 statement on secured card. I had got a pnc bank secured card and now in 8 months have most major cards.


PNC Secured 2000 (Dec12), Chase Amazon 2000 (Apr13), CapOne Newcomer 2500 (May13), Citi dividend 3000 (May13), Discover IT 1000 (Jul13), Amex BCP 6000 (Jul13), Chase Southwest 10000 (Jul13), Chase Marriott 12000 (Oct 13), BofA Travel Rewards 5000 (Dec13)

- In garden till Dec 2014
New Member
myflame
Posts: 4
Registered: ‎07-18-2013
0

Re: which secured credit cards easily approved for new immigrant?

SDFCU has one of the better secured cards which is good for starter. But how can u pay off the monthly balance in a area without its branches? Through other's banks ATM?

 

Also, does it report to 3 CBs as unsecured? I heard some said reporting as secured while others unsecured. Rather confusing.....

 

 

 

 

 


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