I just moved to the US. Help me get started.

[Anonymous]

Hello all,

I just moved to the US last month. I've already gotten two secured cards, one from Bank of America where I have all my Banking needs, and I also got the Discover It Secured card. My score is currently from credit karma, is 670. 

Help me understand more of what are my next steps to have good credit, resources and so on. 

I have a great job, making 130k+, and want to buy a house eventually. What do you think would be the earliest i would be approved for a morgage if I keep working on my credit? 

THANKS!

[Anonymous]

For ideal scoring you need 3 credit cards and installment loan (such as an auto, mortgage, personal, or student loan).  Pay your cards in full before the statement hits, leaving just a couple dollars to report on one card.  Credit unions will offer secured personal loans, it is secured by funds in your savings account.  Adding another card, and installment loan, and keeping your cards at 0 balance (except the one reporting a couple dollars) will maximize your score.  After that, it is a matter of aging your accounts.  Each month your accounts are open you'll get a tiny bump in that scoring measure. 

[RobertEG]

The accounts must reach at least 6 months of age before you will get a credit score.

In the interim, if you dont have a SSN, I would make sure to get one, as it is needed in order to receive your free annual credit reports from the government-sanctioned site at annualcreditreport.com, which is your best source for comprehensive future credit reports.

Until you have a score, it may be difficult to obtain additional, unsecured credit, so I would suggest waiting until you generate a score before applying for any additional credit.

[Anonymous]

Ok: I just got approved for another secured card, Citi. So I have 3 Credit Cards, and I also have an Auto Loan from Volkwagen credit (I got it with a co-signer). I guess in the meantime, I’ll just have to make sure to pay on time, and let my accounts age?