New to US Credit Score System

[Anonymous]

Hi everyone, I am very glad I found this forum since I am new to the credit score system. I have read some of the posts in here and I took the decision of joining and ask a few questions. Please let me share some info about me:

I was relocated to the US about 8 months ago. I have a SSN and all legal documents to work here. I am 33 years old and have a very good credit in my country, I always pay full balance every month. After getting my Chase Total Checking Account (6 months ago)  and with no knowledge whatsoever I decided to apply for a credit card (Freedom)that same day and was denied. I did not understand why and decided to wait 6 months in order to build my checking account balance to "improve" my chances (now I know it does not work like that). So I applied yesterday for the CSP and was denied again due to no credit history and started to look around on the internet  how to get credit history and that is how I found this forum with all good advice. After reading and researching I think I would like to apply for Capital One Secured Mastercard but I am afraid to be denied again and have 3 HP already. By the way I have tried to get my Credit Report thru Credit Karma and it said it could not get my info. I make around 58k a year and I want to build my credit history but I am confused and scared to keep doing it wrong. Is there any advice you can share with me please? Where can I get a copy of my credit score?  I read that also applying for store/gas cards is a good way to build credit. I was thinking about going to Capital One bank tomorrow but I would rather wait and see what do you think about my idea.

Thanks in advance for your comments and tips.

Nate

[bs6054]

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@Anonymous wrote:

Hi everyone, I am very glad I found this forum since I am new to the credit score system. I have read some of the posts in here and I took the decision of joining and ask a few questions. Please let me share some info about me:

I was relocated to the US about 8 months ago. I have a SSN and all legal documents to work here. I am 33 years old and have a very good credit in my country, I always pay full balance every month. After getting my Chase Total Checking Account (6 months ago)  and with no knowledge whatsoever I decided to apply for a credit card (Freedom)that same day and was denied. I did not understand why and decided to wait 6 months in order to build my checking account balance to "improve" my chances (now I know it does not work like that). So I applied yesterday for the CSP and was denied again due to no credit history and started to look around on the internet  how to get credit history and that is how I found this forum with all good advice. After reading and researching I think I would like to apply for Capital One Secured Mastercard but I am afraid to be denied again and have 3 HP already. By the way I have tried to get my Credit Report thru Credit Karma and it said it could not get my info. I make around 58k a year and I want to build my credit history but I am confused and scared to keep doing it wrong. Is there any advice you can share with me please? Where can I get a copy of my credit score?  I read that also applying for store/gas cards is a good way to build credit. I was thinking about going to Capital One bank tomorrow but I would rather wait and see what do you think about my idea.

Thanks in advance for your comments and tips.

Nate

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A secured card is probably the way to go (maybe Bank of America or Capital One), but there is one possible short cut.   Did you have credit cards in your country from banks with a US presence?   American Express in particular will, depending on the country pair, allow you to "swap" a country A Amex for a country B one.

[myjourney]

Welcome to the forum

You should start your file with secured cards I also think CAP1 has a card called( cash reward newcomer) that may fit your needs build up about 6 months of history and start from there.

[09Lexie]

Welcome to the forum! A secured card would be ideal. Also, Cap One has a cc for newcomers that might work well with you. Chase will want to see an established revolving history (6 mos-1yr) before they approve.

I'm sure others will have advice and suggestions.

Good luck!

[09Lexie]

@myjourney

You type fast!

[myjourney]

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@09Lexie wrote:
Welcome to the forum! A secured card would be ideal. Also, Cap One has a cc for newcomers that might work well with you. Chase will want to see an established revolving history (6 mos-1yr) before they approve.

I'm sure others will have advice and suggestions.

Good luck!

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We were thinking alike....

[Anonymous]

Hi, thanks for the quick reply. I have a credit card from a bank that has the word CITI on the back. I will call my bank and ask. Thanks

[Anonymous]

Thanks for the advice, I will go to Capital One tomorrow. If I have the option between the Newcomer and the Secured Mastercard, should I apply for the Newcomer or both?

[HiLine]

Hi Nate,

Welcome to the US, and welcome to the forums! I agree with others who have posted that you should get a secured card, and since you are very new to credit, I suggest you check out my blog: http://hiepsfinance.wordpress.com/credit-builders/  for an overview of credit history and credit cards. People like you, who are making money but new to credit, are the target audience of my blog; I used to be in the same shoes as you are now. If you have any questions please feel free to ask.

[myjourney]

CITI is a prime bank and if you pay them and stay in good terms between 6-12 months your credit file will look a lot better to lenders