Valued Contributor
wmarat
Posts: 1,754
Registered: ‎11-03-2007
Re: Small Credit Card Limits


miguelon wrote:
Hi, the whole credit score system is quite new for me since I've just arrived to the US, and so I have opened a checking account and have deposited 900$, and the only way to get a credit card was to request a secured credit card with CL 800$, so I need to know; What would be my starting credit score? How do I increase this credit score? Where should I request credit cards? If I ask for a car loan, should I do it, at the Bank itself or by a dealer? would it be denied?
 
Appreciate your help,
Miguelon 



Regarding Autoloan. From experience a bank may offer lower APR but if you apply to bank you probably will be denied. Dealer, however, will approve you but you'll get outrageous APR. Check out your local CU. I had chosen to buy my first car in the States in cash, it was much cheaper.
 
Forget about FICO for at least 6 mos, better off for 9 mos. Let your secured card to graduate to unsecure. Be patient, patience is a virtue and never, but never be late.
IN VINO VERITAS.