topic Re: Building Credit Score without SSN in General Credit Topics

Building Credit Score without SSN

Anonymous — Wed, 22 Sep 2010 03:21:23 GMT

I visit the USA and have held a bank account in the USA for 10 years. I was talking to my USA bank about obtaining a US based credit card to build credit score but I only hold ITIN and will never hold a SSN. The bank is saying because I don't have a SSN there is no way for the credit agencies to associate credit history/score without a SSN.

Is this correct?

Thanks

Re: Building Credit Score without SSN

haulingthescoreup — Wed, 22 Sep 2010 04:48:40 GMT

mmm..., I don't think so. I could swear that I've read posts here by others in your situation who were able to get a card.

Do we have any new US residents in this situation? Weren't you able to get a card without an SSN? (I'm afraid that I don't know the sequence of ITN / residency / green card / SSN / citizenship, etc. )

Re: Building Credit Score without SSN

MidnightVoice — Wed, 22 Sep 2010 14:37:21 GMT

Sorry, I have always has a SSN because I always needed to work legally

Re: Building Credit Score without SSN

Anonymous — Wed, 22 Sep 2010 19:25:22 GMT

From my knowledge, that's correct. You can't obtain credit card without SSN. I think there's ways to obtain SSN that you need to find out yourself my friend.

Re: Building Credit Score without SSN

Anonymous — Thu, 23 Sep 2010 01:44:29 GMT

@haulingthescoreup wrote:
mmm..., I don't think so. I could swear that I've read posts here by others in your situation who were able to get a card.

Do we have any new US residents in this situation? Weren't you able to get a card without an SSN? (I'm afraid that I don't know the sequence of ITN / residency / green card / SSN / citizenship, etc. )

When you apply for residency / green card you automatically apply for a SSN. I believe it's a mandatory part of the process.

An ITIN is for non-residents (i.e. tourists) and those unauthorized too work. With only an ITIN few, if any, creditors will grant you credit -- and rightly so.

Re: Building Credit Score without SSN

Anonymous — Thu, 23 Sep 2010 01:46:08 GMT

@Anonymous wrote:
From my knowledge, that's correct. You can't obtain credit card without SSN. I think there's ways to obtain SSN that you need to find out yourself my friend.

You can buy one for $50 in L.A.

Orange jumpsuit sometimes available separately.

Re: Building Credit Score without SSN

RobertEG — Thu, 23 Sep 2010 03:39:43 GMT

Incorrect. You definately dont need an SSN for credit reporting. No such statute, regulation, or CRA requirement exists.

You also dont need an SSN to open an account with a creditor. You only have to comply with banking and IRS regulations, which dont require an SSN.

Billions of dollars are invested and secured from the U.S. credit industry with those who dont work in the U.S.

CRAs need a personal identifier in order to match up reporting done by a creditor with your credit file at the CRA.

They use a matching algorithm used to match reporting with your credit file. They have several indentifying factors, such as SSN, ITIS, full name, current adddress, etc.

The most accurate, and thus preferred, personal identifier, is SSN, since it is (allegedly) unique to each consumer. However, ITIS should be just as unique. Names and addresses, even if the match up with one another, are not always unique identifiers of one single person.

The most important thing is not what identifier is provided, it is more one of making sure that the identifiers you have on file with the OC match exactly with those that have been provided to the CRA. Thus, no matching, or incorrect mis-matching of reporting to the incorrect credit file can occur.

Re: Building Credit Score without SSN

Anonymous — Thu, 23 Sep 2010 02:05:19 GMT

@RobertEG wrote:
Incorrect. You definately dont need an SSN for credit reporting. No such statute, regulation, or CRA requirement exists.

CRAs need a personal identifier in order to match up reporting done by a creditor with your credit file at the CRA.
They use a matching algorithm used to match reporting with your credit file. They have several indentifying factors, such as SSN, ITIS, full name, current adddress, etc.
The most accurate, and thus preferred, personal identifier, is SSN, since it is (allegedly) unique to each consumer. However, ITIS should be just as unique. Names and addresses, even if the match up with one another, are not always unique identifiers of one single person.
The most important thing is not what identifier is required, it is more one of making sure that the identifiers you have on file with the OC match exactly with those that have been entered into your CRA credit file.

I think when OP's bank says they cannot extend credit because of CRA reporting issues with an ITIN it's just a polite way of saying the bank doesn't want to lend, period.

Re: Building Credit Score without SSN

RobertEG — Thu, 23 Sep 2010 03:44:53 GMT

If your application was in the name of, for example, a Shiek Abdul of Billions-of wealth, I dont see that any spurious issues of needing a SSN would remotely be of creditor, or credit reporting, question.

Re: Building Credit Score without SSN

Anonymous — Thu, 23 Sep 2010 14:14:21 GMT

@RobertEG wrote:
If your application was in the name of, for example, a Shiek Abdul of Billions-of wealth, I dont see that any spurious issues of needing a SSN would remotely be of creditor, or credit reporting, question.

Patriot Act: Know Your Customer.

Re: Building Credit Score without SSN

Anonymous — Tue, 05 Oct 2010 04:30:52 GMT

my experience with bank of america went like this ...

my wife asked for me to be added onto her accounts etc. and was told i couldnt be added until i had my ssn .

in anticipation of getting my ssn i went to bank asking for information and leaflets etc. on opening accounts , and they opened checking and savings there and then telling me to bring in ssn when i could !!!.

i never did and was never asked .... until i applied for a secured card . they wouldnt even start the application process until i had produced it .

even then i got a letter a week later saying i needed to show it before the cc dept could proceed . i called them , then went back to my branch and they faxed my ssn to them .

then i got another letter saying they could despatch my card until they had seen ssn !!!

i'm not sure what other banks rerquire .

maybe a prepaid card will work for you ??

Re: Building Credit Score without SSN

RobertEG — Tue, 05 Oct 2010 05:47:41 GMT

If a creditor is denying you credit based on lack of an SSN, I would be interested in hearing from the legal wizards on the site as to the legality of requiring an SSN for banking or credit transactions. Seems arbitrry to me, but I dont know the law on this puzzle.

Re: Building Credit Score without SSN

Anonymous — Tue, 05 Oct 2010 07:16:59 GMT

@RobertEG wrote:
If a creditor is denying you credit based on lack of an SSN, I would be interested in hearing from the legal wizards on the site as to the legality of requiring an SSN for banking or credit transactions. Seems arbitrry to me, but I dont know the law on this puzzle.

Unless you are a US citizen, not having a SSN can be a a clear sign of either illegal immigration or being in the country as a tourist -- both valid reasons to take into account when considering creditworthiness.