All credit card applications rejected

[dilippkumar]

Hello,

I am here looking for help desperately.

I moved into the U S 2 years ago, and within my first week of stay here, I applied for and got approved for a secure credit card with Wells Fargo. Since then, I have tried repeatedly to obtain a second credit card for the sole purpose of building my credit. All attempts of obtaining a second credit card failed with various reasons- some claimed that I could not be given a credit card because I was not a US citizen or permanent resident, while others claimed some other reasons which I don't remember.

This led to huge problems when I wanted to buy my first car - All banks rejected my application claiming that I was not a US citizen or permanent resident, so they could not approve me for credit. Car dealers gave me ridiculously bad offers claiming my only credit was a tiny 2 year old $300 secure credit card. I had no options left and had to go to with one of the bad car-dealership financing options to get my car.

Now I want to build up my credit so that I can get my car refinanced through a credit bureau. Once again, I applied to a credit card from Wells Fargo (rejected), Chase (rejected) Citi Bank (rejected). I am yet to try applying for credit with Capital One and Discover.

I don't have any debt other than my new car. All 3 reports show I have made 100% of my payments on time, and have always paid off the full balance on my credit cards every Sunday. I make $100500 a year, and I'm really not in need of any money right now. However, I need to open more lines of credit to start building a good credit history.

What do I do? Please help.

[09Lexie]

Welcome to the forum! I would suggest Cap 1 for Newcomers, visiting a local CU and/or adding to your existing secured cc

[goosedog]

If you aren't a US CITIZEN or PERM resident, you will find it impossible to obtain credit. No bank is going to risk you leaving the country after you max out your card. CITI, CHASE, BOA, WELL FARGO, DISCOVE will never approve you if you aren't at least a permanent resident. You may get something from CAP1 (maybe) but it wont be more than 500$ to lessen any lost they may experience from you jumping ship.

[guiness56]

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@goosedog wrote:

If you aren't a US CITIZEN or PERM resident, you will find it impossible to obtain credit. No bank is going to risk you leaving the country after you max out your card. CITI, CHASE, BOA, WELL FARGO, DISCOVE will never approve you if you aren't at least a permanent resident. You may get something from CAP1 (maybe) but it wont be more than 500$ to lessen any lost they may experience from you jumping ship.

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Really?  Can you not be so blunt.  It comes across as you being obnoxious and that clearly is not what the forums are for.  You can say the same thing in a much, much nicer way.

And, yes, it is possible to get credit being new to the US.  It just may take time and patience.

[bmblbg]

Good morning

I don't know much about your status, but here's a little tidbit for you.

When my friend's now-husband moved to the US, he was here on a student visa.  He was able to get a couple credit cards, but they were all very low-limit.  The longer he was here, the more his credit was established and he received a few CLIs.  If you are here as a student, try speaking with someone in the university's student support services.  They are often a wealth of knowledge. 

If that is not the route for you, consider the terms of your stay here.  If you are working to become a permanent resident and can show you're moving through the process for citizenship, you may find agencies are more favorable to you.  Try becoming a member of a small local credit union and then trying for their in-house card after a few (3-6) months of membership. 

If you are here on a work visa, and it looks as though there are plans to return home after a temporary job assignment, things may get tougher.

Do you have the funds to try for a second secured card?  It's not ideal, of course, but could work wonders toward building your credit further. 

Finally, did you have credit in your home country?  I ask this because he had a credit card in Mexico (I want to say VISA, but don't hold me to that) and was able to basically transfer his credit history over.  Not as easy as I'm sure that sentence made it sound, but it was possible back then (2002).  I know there have been many changes, but it's certainly something to look into!

In all- it's harder to get credit without a SSN.  But- it happens....  Good luck to you!!

[Guyatthebeach]

Hey there.

My dad had the same problem years ago until he became a citizen.  What's your current status and have tried to see if Wells Fargo will help you?

[Chups]

I am a foreign national, I come to the US about twice a year for vacation/shopping. I managed to get a fully secured credit card with BoA. They are in the process of adding 1 2 3 benefits to it right now . Go to your local BoA and see what they can do for you, card limit can be up to $4900 depending on your deposit

[09Lexie]

I'd also suggest visiting the branches and speaking with the banker. From what I remember, in person apps at BoA and Wells Fargo work best.
Good luck

[dilippkumar]

Update:

Chase approved me for Chase Freedom with a $500 credit limit. This was after I spoke to them using a backdoor number.

Wells Fargo also explained that it is their company policy to not approve unsecured credit cards to non-permanent residents. However, they told me that they will allow my secured card to graduate into an unsecure card later this year.

This is not a complete victory, but this has not been a loss either.

Thank you all for your helpful comments.

[HiLine]

Welcome to the forums!

I have 3 things to say regarding your situation:

1. Wells Fargo is a terrible creditor. Don't count on them doing anything for you.

2. Bank of America is awesome for building credit. Visit a BofA branch and apply for a secured credit card there. If you have excess money, create as high a credit limit as possible; this can only help you.

3. Visit the Credit Cards forum where the knowledge is focused on credit cards.

4. Check out my blog! I am also a foreign national with some decent credit success. I share my personal finance journey with my readers. This section will be helpful to you: http://hiepsfinance.com/credit-builders/