New to the country and trying to get a credit card

For just about anything you want to get off your chest about credit cards.
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shake1dde
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New to the country and trying to get a credit card

Postby shake1dde » Sat Nov 15, 2008 11:29 am

Hey guys,

I'm a Canadian who is now living in Texas for a few years on a non-immigrant work visa. I now have my SSN, but I'm not sure if I can get a credit card easily, but I want to build credit.

I was thinking about applying for the Costco Amex card - does anyone know if it's likely i'll be approved? Are there many cards that get approved by everyone?

Any other advice would be very appreciated!


magyar1045
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Postby magyar1045 » Sat Nov 15, 2008 2:47 pm

Don't know anything about Costco Amex. You might try Orchard Bank or Household Bank. They are known for issuing cards to folks with bad credit, no credit. They usually come with small credit limits ($300 to $500) and annual fees ranging from $39 to $59.

1bootcamp
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Postby 1bootcamp » Sat Nov 15, 2008 4:35 pm

Have you used any credit yet (credit card, car loan, etc) on your new SS# or is it a fresh number with no history yet?

shake1dde
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Postby shake1dde » Sat Nov 15, 2008 5:22 pm

1bootcamp wrote:Have you used any credit yet (credit card, car loan, etc) on your new SS# or is it a fresh number with no history yet?



It's a fresh number with no history as of yet.

I currently have a visa and MC with my Canadian address... the problem is that they're in CDN dollars, and an extra 2.5 % is pegged on the exchange rate every time I make a purchase.


I need a limit of much higher than 500... i'm thinking 2k min... and I'd prefer to avoid anual fees. I mostly need the card for convienence.

Thanks!

Multi-Purpose
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Postby Multi-Purpose » Sat Nov 15, 2008 7:58 pm

Good question I don't know how that works. Now is your new Social linked to your Canadian credit record too?
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Postby CreditCardGuru » Sat Nov 15, 2008 9:16 pm

Shake1dde,

You will most likely not qualify for the American Express Costco card. Amex usually requires a more established credit history and due to market condiitions they have further tightened requirements.

Try out the ones on this list.

Best of luck,
CreditCardGuru

Floppster
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Postby Floppster » Sat Nov 15, 2008 9:38 pm

Hello, I went through exactly the same thing you'll have to go through now.

The way it worked for me

1.) Got my SSN with zero history and zero credit
2.) I got denied on every credit card I applied for ( I tried about 30 cards )
3.) The way out was capital one at the time who was the only bank which offered me a low limit cc.

Anyhow the fastest way of doing it right is: Go to Bank of America and open a Bank Account. Than talk to them about a secured card (up to 10k). They'll hold your money for up to 2years. Credit will then build quick. It is easy to get credit up however once you mess up you have a lot of work to do.

BTW: Forget the American Express for right now. Think about it in approx. 2 years.

Good luck :D
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Cucumber
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Postby Cucumber » Sun Nov 16, 2008 3:55 am

Hey Floppster how long ago did you move here? I wonder if now Cap One would still give a credit card to a SS# w/ no history... probably not since like no bank gives anyone any money anymore :mad:

You're right you can build up credit fast. I built credit pretty fast after I turned 18. Within 2 years I had the Amex Blue and a decent credit limit. I think it was like 4,500. But yeah... I bet it's not as easy to pull that off today.
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scorch
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Postby scorch » Sun Nov 16, 2008 4:29 am

If anything you should be able to get a secured card pretty easily.

Floppster
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Postby Floppster » Sun Nov 16, 2008 7:55 am

Cucumber wrote:Hey Floppster how long ago did you move here? I wonder if now Cap One would still give a credit card to a SS# w/ no history... probably not since like no bank gives anyone any money anymore :mad:

You're right you can build up credit fast. I built credit pretty fast after I turned 18. Within 2 years I had the Amex Blue and a decent credit limit. I think it was like 4,500. But yeah... I bet it's not as easy to pull that off today.


Hey Cucumber,

got here in January 05 got my first CC in July 06 and got my first Amex in early 07. I am sure it is still easy to get credit however I think they just lower the limits.
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