Questions re: credit score from scratch

[Anonymous]

Hi everyone,

I've been reading the forums for a few weeks, but have a a question I haven't found the answer to.. I'm moving to the U.S. in a month and as soon as I have my SSN I want to start building credit. I've read up on being added as an authorized user, which I will do on my fiance's two credit cards. However, she's not happy about 1 of them (Partly because of the annual fee and their unwillingness to give CLI for 2,5 years now despite good history and more than enoughe income). It's the card she's had the longest, so being added to it would help my credit score I think. What happens if she would close the account after I've been on there a few months? Would the card stay on my report after closing the account, or does it only stay on the report of the original account holder (since I'm only an authorized user)? 

Since I have a post here now, if you have any feedback about my plan I'd definitely appreciate it. Here's what I'm looking to do when I get my SSN:

- Get added to my fiance's two creditcards as authorized user/joint account holder

- Apply for a secured installment (credit builder?) loan at a local credit union

- Apply for 1 secured credit card (Bank of America or Wells Fargo since they graduate, if they won't accept me try CapOne?)

Then wait 10-12 months to see what happens to my credit score before applying for 2 storecards and potentially an unsecured card?

Thanks in advance for your feedback!

[DaveSignal]

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@Anonymous wrote:

Hi everyone,

I've been reading the forums for a few weeks, but have a a question I haven't found the answer to.. I'm moving to the U.S. in a month and as soon as I have my SSN I want to start building credit. I've read up on being added as an authorized user, which I will do on my fiance's two credit cards. However, she's not happy about 1 of them (Partly because of the annual fee and their unwillingness to give CLI for 2,5 years now despite good history and more than enoughe income). It's the card she's had the longest, so being added to it would help my credit score I think. What happens if she would close the account after I've been on there a few months? Would the card stay on my report after closing the account, or does it only stay on the report of the original account holder (since I'm only an authorized user)? 

Since I have a post here now, if you have any feedback about my plan I'd definitely appreciate it. Here's what I'm looking to do when I get my SSN:

- Get added to my fiance's two creditcards as authorized user/joint account holder

- Apply for a secured installment (credit builder?) loan at a local credit union

- Apply for 1 secured credit card (Bank of America or Wells Fargo since they graduate, if they won't accept me try CapOne?)

Then wait 10-12 months to see what happens to my credit score before applying for 2 storecards and potentially an unsecured card?

Thanks in advance for your feedback!

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My wife is a foreign national who has excellent credit (better than mine).  Her reports contain solely my accounts that I have added her to.  I pretty much built her credit by adding her as authorized user to my accounts and opening one joint account with her.  There are a few AU accounts that I have since closed which are still on her credit report as closed accounts.

It will take a few months (possibly at least 6) from the time you get your SSN until you are able to actually pull your credit and get a FICO score.. but you can get added as AU or open a joint account at a credit union before that time.

[Anonymous]

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@DaveSignal wrote:

My wife is a foreign national who has excellent credit (better than mine).  Her reports contain solely my accounts that I have added her to.  I pretty much built her credit by adding her as authorized user to my accounts and opening one joint account with her.  There are a few AU accounts that I have since closed which are still on her credit report as closed accounts.

It will take a few months (possibly at least 6) from the time you get your SSN until you are able to actually pull your credit and get a FICO score.. but you can get added as AU or open a joint account at a credit union before that time.

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Thank you very much for the response. That's great to hear from someone with first hand experience with the situation. I'm excited to get started, and am happy to hear the account should stay on the report.