Amex Application, New SSN, No Credit.

[Anonymous]

Hello, 

I was going through the forum but couldn't find any answer for my situation so I decided to post my question here in hope some of you have had the similar experience, would know something, or would take an educated guess :-)

So I've been in the US for 4 years without a SSN under a student visa, and now being allowed to work under OPT I just got my first Social Security Card. 

The problem is that because my SSN is new, Amex declined my application for a Gold card based on the fact that they couldn't find any info on my credit score, and that I couldn't provide them with a tax document or something, because I didn't have revenues for the past years in the US. 

Fortunately, I just received the Chase Freedom card I applied for that was approved due to my bank history and relationship with Chase. 

But the amex is the one I really want. I don't care if I have to get a blue or everyday or green card at first, as long as I can go up and get the gold at some point. 

So what should I do next? I tried to apply for a green amex after I got the Chase card but even though I didn't get an answer yet, I'm pretty sure it will be denied as well. 

When I go to Experian for example they can't retrieve any info on me either. 

I'm open to suggestions and advice on how to reach my goal! (this includes giving some guarantees or anything really)

All the best

[OmarGB9]

Honestly since your file literally just got created, I'd advise you to wait 6-12 months in order for you to build up some credit history. Use that chase card like a debit card for all of your expenses, and of course pay on time and more than the minimum, and that should help you build up a solid credit file.

[Anonymous]

Thank you for your answer,

If I pay on time everything I owe them it should help the process? Do you think I could ask for an increased Credit line? Because they only gave me 500$ for now. 

Also, do you think applying for other cards assuming I always pay my balances in full would help, or would it rather hurt? 

[savingmoney87]

I believe in the long term you'll need a at minimum three cards but until you develop an "identity" in terms of the SSN being so new you maybe just want to establish with that card first for a while. You'll be able to get CLI with good payment and etc. If you want to speed up the process consider a secured card or go for capital one. I've heard that it takes at least two cards or a 6-12 months to even generate a record with such "new SSN." I hope that maybe some of our members who've been through the same thing can provide you a better answer since many of us are more familiar with no history vs. a SSN that is brand new. But I would like to "assume" it would entail the same building process. I would search the forum for more blinding from scratch discussions. 

[Anonymous]

Thank you,

I am considering applying for a secured capital one mastercard, if that can help the process a bit. 

Regarding the chase card, do I need to ask for a credit limit upgrade or just wait for it?

Also, on a general note, is it better to use all of the credit limit and repay it in full or just use as little as possible, and of course repay it in full as well?

[OmarGB9]

Really you can use it as much as you want so long as you pay it of course. try to let a small balance (under 10% report every month).

[Anonymous]

Yep, just get some time in with your current card. Use it and pay on time (preferrably carry a bit of a balance, but pay much more than min.) You'll get the card you want in time.

[Anonymous]

What do you guys mean when you say "carry a bit of balance" and "let a small balance"

That I shouldnt pay everything in full each month?

Thanks again!

Best

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@Anonymous wrote:

Yep, just get some time in with your current card. Use it and pay on time (preferrably carry a bit of a balance, but pay much more than min.) You'll get the card you want in time.

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[newhis]

My DW started from new SSN, I started from new ITIN. We both started with Discover IT and secured BofA card. Less than 1.5 years later we have several cards each and few cards with 10k and 15k limits.

First relax. Chase is hard on CLI, so don't ask for one, you'll be wasting HPs. Use the card and pay it. Like other user said, use it like a debit card, pay all the charges but 10%. Chase cards report at statement close date and every time you pay in full, so they will report as $0 balance and can lower your score. You will not get a true FICO score until your Chase card report for 6 months.

If you have the money, the best route is to get a BofA secured card with 5K or more. That will show other lenders that you can handle good limits. That helps a lot down the road. My DW started with $500 then at month 7 she put $5,000 to increase the limit (HP) but they auto-graduated her at month 9 and she asked for Visa Signature. After that she was able to get other cards for 5K or more.

After 7 months, you will have a FICO Score above 720, with short history, so you have to choose the cards that you need. DW started with 720 and I 731 (TU FICO), she got more HPs (she applied for JCP and Freedom before 6 months).

BTW, Discover no longer accept ITIN for card approvals, not even for AUs. As your SSN is new, don't apply online, is better to call and explain your situation. They will ask for some documents, the SSN card, address and ID verification. Some lenders also ask for proof of income, so if you have payments with your OPT you may send your first paystub or a letter from your employer with how much they will pay you.

Good luck.

[Jerry45]

Good Luck