Where to even start?

Anonymous · ‎05-11-2020

I've been living abroad for the last 6 years and have largely ignored my credit issues (not smart!). Now that COVID-19 is here, we are leaving China and coming home sooner than expected. I've made some decent improvements to my credit in the last month by paying off all of my debts, including $16000 in defaulted student loans. I should have rehabbed them a long time ago...live and learn. I have a Wells Fargo secured credit card that had a $300 limit. I just increased it to $2000, but haven't seen that hit my reports quite yet. My most updated scores are EQ- 594, TU- 524, and EX- 552. My auto scores are not updated at all yet but as of last month were 635, 522, and 564 respectively. I've never had an auto loan in the United States, and I highly doubt the loan I had in Qatar will mean anything to any US lenders. I could put down around $5000 comfortably and will be making roughly $50,000/year as a public school teacher. My rent will be $1200 and my husband and I have no other debt. He is Canadian so he will not be working until he gets a green card. It also means he has no credit yet in the USA. We are hoping to finance a compact or small SUV and then just outright purchase another cheap car (doesn't matter what) for him for the time being.

Any thoughts on any particular places to look for financing? We will be living in Nashville, Tennessee if that means anything.

K-in-Boston · ‎05-11-2020

Have either of you had an American Express card issued outside of the US? They actually have a global transfer program where your previous account can be used as a basis to open a US one. Has hubby had a previous relationship with RBC or TD? Both RBC's US arm (City National Bank) and TD have programs for expats. Either of you had any dealings with ICBC while in China?

Anonymous · ‎05-12-2020

No Amex cards, but we both have savings accounts with ICBC in China. No credit, though. My husband has a Canadian TD account.

K-in-Boston · ‎05-12-2020

I would probably start here and see what TD can do:

https://www.td.com/ca/en/personal-banking/solutions/cross-border-banking/

ldkcivilservant · ‎05-15-2020

To switch things up slightly, I'm an immigrant that came in through marriage to a US Citizen.

It sounds like you are thinking about having him enter the US as a visitor and then adjusting status. Please don't do that. It's visa fraud and can possibly leave him with a lifetime ban. I've seen it happen and it's not pretty or cheap to have an immigration attorney clean up the mess.

If I misread it, and you are persuing a visa at the Chinese consulate, then good luck!