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[Anonymous]

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specultr wrote:

My wife of two years is an immigrant with no credit history. She is 41 and attends college full-time while working part-time as a waitress. I'd like to help establish her credit but without a credit card if possible. The secured cards have exhorbitant fees and APRs. Is there an alternative?

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It is my understanding that immigrants get a score between 600 & 650 to start..It is more then a citizen starts with.

You can try to get a store CC...Target, Walmart, something like that. Also add her as an AU on your cards (if they have no baddies)

There are only 3 kinds of credit...CC  auto and mortgage. CC count more toward scores & how you handle credit. I forgot personal loans with a bank,which are hard to get.

First pull her credit score for the CB that the CCC pulls.

You might get better info on the credit card thread.

Message Edited by HappyDays on 12-04-2007 09:10 PM

[Anonymous]

You may want to consider going to a retail jewelry store and getting a card there. They are pretty good with people who have no credit. They'll probably issue a $500 credit limit with 20% down. It's a good way to start especially with the holidays around.

[Boswd]

With no offense to the other posters, I wouldn't start building her credit with store cards, especially Jewlery store cards,  not only are interest rates through the roof with these companies, it will encourage's large spending amounts and the last thing you want is for her to start out being in debt.  Just think your wife comes home with a brand new diamond necklace and say's " but honey I'm just establishing my credit."   

Try  Bank of America for a secured card or HSBC for one.    I know you said you didn't want a secured card but these two especially Bank of America charges only a very small annual fee of $29.

I think that is your best bet. 

[SmartCookie]

Very hard to establish decent credit without cc's.  If she has a SSN or ITIN you can open a joint checking account with a personal line of credit attached to it to get her going.

More preferable would be for you add her on as joint to your oldest and best (low UTI, high CL, cleanest of any derog info) cc TLs.

If you add her on as an AU to any accounts you have that require her SSN or ITIN, she will also benefit from that for a while before FICO08 kicks in.  She will also then start getting her own offers and can start building her own good credit independant of yours. 

Cap1 has a card for people in her situation... little or no established credit history.  APR is decent enough, the worst is an annual fee of up to $39.  Really not bad at all, unsecured and she can grow with it bit.   

[Anonymous]

One of the reasons I love this forum, is the diversity of opinions......all of them good and valid.

I would suggest her joining a local credit union. Start a savings account. Perhaps take out a small loan(even if she doesn't need it). Pay on it religiously every time, and when it nears the term of the loan, apply for a cc with them.