Getting the first credit card for H1B holder

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romania2007
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Getting the first credit card for H1B holder

Postby romania2007 » Sat Jul 26, 2014 9:06 am

Hi All,

I am new to US (20 days) with no credit history here.

But I have a good credit score back in India (~800 TU) and a good salary here (~85,000$).

Can I get chase freedom if I open checking and savings account with total value of 5000$?

and can I get Amex Blue Cash? What are my options?

Please help me out.


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PlyrStar93
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Postby PlyrStar93 » Sat Jul 26, 2014 11:12 am

This can be hard to tell, really. Only credit file in US matters when lenders consider their decisions to give credit. By common sense a prime lender like Chase would not give a credit card to someone without credit history.

I did start with Citi without any credit history, though; one of my friends started with Chase with no history and got $600 limit; another got Discover with $500, also no history. I believe Chase really went into special consideration, while for the others we started with student cards which might be more tolerant with people with no credit history.

The easy way to start--credit unions, secured cards, authorized users. For prime lenders you won't know how comes out until you apply. Most likely your application will be pending because they are not able to verify your information. You should better consult in a branch if you want to apply, they may do some paperwork for you. This might work out, but don't feel surprise if you get denied. No one can give a definitive answer about approval or denial.
Citi Forward Visa $5000 10/2012 | American Express Blue Cash Everyday $8000 2/2014 | Discover it $7000 5/2014
Chase Freedom Visa Signature $7000 6/2014 | Citi ThankYou Premier Visa Signature $5000 1/2015
All EMV.

MemberSince99
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Postby MemberSince99 » Sat Jul 26, 2014 11:15 am

Why settle for Bllue? Insist on Centurion. You deserve it. Don't accept less.

romania2007
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Postby romania2007 » Sat Jul 26, 2014 11:51 am

thanks PlyrStar93, will go to the branch.

lol MemberSince99, I know I do but don't like the high annual fee.

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nismoZtuner
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Postby nismoZtuner » Sat Jul 26, 2014 6:06 pm

MemberSince99 wrote:Why settle for Bllue? Insist on Centurion. You deserve it. Don't accept less.


Haha you're on troll mode!

@Romania2007 One if my friends recently received documents as well and had trouble getting approved for cards.. chase was his most dofficult- they verified his info and they had him send paperwork for a while. I would say get a card at your bank and then just let it grow for a while then apply for others..
TU 752 (+4) - [5/9/2014] CK 726 - [11/24/14] EX 725 - [11/20/14] EQ 710
BankofAmerica Cash Rewards [2k] I American Express Blue Cash Everyday [3K] l Discover IT[2.5]
American Express Premier Rewards Gold [NPSL] I Marriott Rewards Premier [5k]
Chase Sapphire Preferred[7.3]
Inquires: TU(?) EX(?) EQ(?)
TCL-$19,800
Age-22

yfan
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Postby yfan » Sat Jul 26, 2014 9:57 pm

Oddly enough, a car dealership asked me (I was casually shopping - didn't end up buying) if I was on a work visa. I'm a US citizen, and have been here since I was in my mid-teens, and that question felt real weird to me. I was a little offended and wondered if it was even legal for car loans to consider citizenship (as long as you're here lawfully). But I guess the bigger point is creditors may well want you to establish a foothold in the United States before premium creditors extend you credit. It's hard to tell, but sometimes creditors are afraid you will just return to your home country after buying things on credit and never pay it.

Also, it's important to point out that income and payment history do not always correlate. Lots of high income people don't care to pay their bills on time, and lots of low income people have excellent credit because they are responsible. The financial ability (income) to pay your bill is only one part of your likelihood of repayment. It's a necessary but not sufficient condition.

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onion
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Postby onion » Sun Jul 27, 2014 12:50 am

PlyrStar93 wrote:This can be hard to tell, really. Only credit file in US matters when lenders consider their decisions to give credit. By common sense a prime lender like Chase would not give a credit card to someone without credit history.

I did start with Citi without any credit history, though; one of my friends started with Chase with no history and got $600 limit; another got Discover with $500, also no history. I believe Chase really went into special consideration, while for the others we started with student cards which might be more tolerant with people with no credit history.

The easy way to start--credit unions, secured cards, authorized users. For prime lenders you won't know how comes out until you apply. Most likely your application will be pending because they are not able to verify your information. You should better consult in a branch if you want to apply, they may do some paperwork for you. This might work out, but don't feel surprise if you get denied. No one can give a definitive answer about approval or denial.


My fiancee managed to score a Discover Chrome with no credit history for $500. On the other hand, I've got nearly a year of history and Chase wouldn't even listen to me on the recon line and insisted to try again in 6-12 months and to leave them alone. Ended up going for the two AmEx cards in my signature instead.

So... YMMV. You'd have much better chances with credit unions and secured cards as Plyr said. I started off with a $500 secured card and have had no issues.
FICO TU - 728 - 8/14
FICO EX - 716 - 7/14
FICO EQ - 740 - 7/14

Bank of America Cash Rewards - $2,400
Best Buy - $3,000
American Express Blue Cash Everyday - $8,000
American Express Everyday - $10,000
Discover It Chrome - $500 (AU on fiancée's card, helping her build credit)
American Express Platinum - NPSL
Barclaycard Arrival+ - $3,000
Capital One Yamacard - $11,000

supercoolman
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Postby supercoolman » Sun Jul 27, 2014 4:39 am

secured card could be the jumpstar

MemberSince99
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Postby MemberSince99 » Sun Jul 27, 2014 7:13 am

onion wrote:My fiancee managed to score a Discover Chrome with no credit history for $500. On the other hand, I've got nearly a year of history and Chase wouldn't even listen to me on the recon line and insisted to try again in 6-12 months and to leave them alone. Ended up going for the two AmEx cards in my signature instead.

So... YMMV. You'd have much better chances with credit unions and secured cards as Plyr said. I started off with a $500 secured card and have had no issues.




I would have recon'd with them again. It's just a matter of getting the right analyst with Chase. I had to recon 3 times in 2012 to get a Freedom card. From what I've read that isn't all that unusual.

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onion
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Postby onion » Sun Jul 27, 2014 9:55 am

MemberSince99 wrote:I would have recon'd with them again. It's just a matter of getting the right analyst with Chase. I had to recon 3 times in 2012 to get a Freedom card. From what I've read that isn't all that unusual.


I did it twice before giving up. This was about three weeks ago. Is it to late to recon again?
FICO TU - 728 - 8/14

FICO EX - 716 - 7/14

FICO EQ - 740 - 7/14



Bank of America Cash Rewards - $2,400

Best Buy - $3,000

American Express Blue Cash Everyday - $8,000

American Express Everyday - $10,000

Discover It Chrome - $500 (AU on fiancée's card, helping her build credit)

American Express Platinum - NPSL

Barclaycard Arrival+ - $3,000

Capital One Yamacard - $11,000



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