Moving to US, here is my story. I am so confused!

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
13 posts
Elijahmex
Centurion Member
Centurion Member
 
Posts: 180
Joined: Mon Sep 29, 2014 1:10 am
Location: EURO-US

Moving to US, here is my story. I am so confused!

Postby Elijahmex » Tue Oct 14, 2014 6:50 am

Hello ladies and gents,

I am a US citizen (left when I was a child), I am 26 now and moving back home to NY and I have never been more confused about credit as it's very different from Europe.

FYI, when I was 18 I had a Visa issued by Chase (for $ online purchases) and long story short, I specifically asked them to send my bills overseas and they never did for months which resulted in a mess. My account was closed and I had to travel back to NY just to take care of the situation. A third party bought my debt, I paid it off and that was the last I heard of it. This happened in 2007/08.

Since then I've had gold Visas from Switzerland and France, bills paid on time and never had an issue.

Now that I am moving back to the U.S. I am totally confused. Where do I start. I assume to credit is low and has to be built up...?

I am a senior manager for a Swiss company, also travel a whole lot back and forth between Europe and the U.S. for pleasure and Europe-Africa for business.

Once again where do I begin?

Appreciate any feedback
Image


Elijahmex
Centurion Member
Centurion Member
 
Posts: 180
Joined: Mon Sep 29, 2014 1:10 am
Location: EURO-US

Postby Elijahmex » Tue Oct 14, 2014 6:51 am

BTW many of the acronyms that you guys use, I really don't understand so please bare with me.

Also I did a basic test on bankrate.com and they estimate my FICO score to be between 665 & 715.

Is there an agency I can contact to find out the real number?
Image

Heisenberg118
Gold Member
Gold Member
 
Posts: 30
Joined: Wed Sep 17, 2014 8:54 am
Location: Maryland

Postby Heisenberg118 » Tue Oct 14, 2014 9:11 am

Aside from the scores, you'll really want to see what's on your credit reports. Those, if it isn't obvious, can be gotten from bureau websites (TransUnion, Equifax, Experian). It also sounds like you'd probably be eligible for the annual free credit reports, so you could get all three for free.

As far as official scores, I'm not an expert on where to get those. There are so many FAKOs out there (even from the actual bureaus themselves), so hopefully someone that's more score-experienced can speak on that.

User avatar
PlyrStar93
Centurion Member
Centurion Member
 
Posts: 410
Joined: Wed Jun 04, 2014 1:06 pm
Location: Chicago

Postby PlyrStar93 » Tue Oct 14, 2014 9:31 am

Elijahmex wrote:I assume to credit is low and has to be built up...?

It could depend on whether or not the tradelines/bad information has fallen off. Collection accounts may fall off after 7 years, while original tradeline maybe 10 years after closing. So, your credit may not be so good, but may not be as bad.

Elijahmex wrote:Also I did a basic test on bankrate.com and they estimate my FICO score to be between 665 & 715.

Is there an agency I can contact to find out the real number?

For all three you can go to myFico and buy those reports+scores.
You can also go to Equifax to buy your Equifax report and FICO. For TransUnion and Experian you cannot go to their sites to buy FICO scores.
If you have Discover/Barclays card then each statement you can get free TransUnion FICO (no report); if you have FNBO credit card then Experian FICO.

But as above has said, you want to see what's on the report more than just getting the scores.
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.

User avatar
djrez4
Centurion Member
Centurion Member
 
Posts: 1468
Joined: Tue Jul 31, 2012 12:20 pm
Location: United States

Postby djrez4 » Tue Oct 14, 2014 9:42 am

Elijahmex wrote:Hello ladies and gents,

I am a US citizen (left when I was a child), I am 26 now and moving back home to NY and I have never been more confused about credit as it's very different from Europe.

FYI, when I was 18 I had a Visa issued by Chase (for $ online purchases) and long story short, I specifically asked them to send my bills overseas and they never did for months which resulted in a mess. My account was closed and I had to travel back to NY just to take care of the situation. A third party bought my debt, I paid it off and that was the last I heard of it. This happened in 2007/08.

Since then I've had gold Visas from Switzerland and France, bills paid on time and never had an issue.

Now that I am moving back to the U.S. I am totally confused. Where do I start. I assume to credit is low and has to be built up...?

I am a senior manager for a Swiss company, also travel a whole lot back and forth between Europe and the U.S. for pleasure and Europe-Africa for business.

Once again where do I begin?

Appreciate any feedback


From your Amex thread -
Elijahmex wrote:Hi,

I am new to the forum however been reading quite a lot over the past few weeks.

The reason why I am asking is b/c I am an American living in Europe. I left the U.S when I was a kid and have since been living b/w France & Switzerland. Until now I never had a credit card. Well I had a Gold Visa back in college but it was linked to my parents account, not mine. I stopped using it in 09 when I graduated.

I am now considering an AMEX from my bank in France and was wondering if there are any special requirements. I know in the states you need to get approved and such and such but it's different here in Europe. How does it differ? I have no idea

PS I am a small business owner, and I travel quite a lot. Since January I traveled from Switzerland to Africa 6 times and I will be travelling at least once a month thus the reason why I think an Amex with the miles or reward points makes sense. What do you guys think?

Any info is greatly appreciated


Are you a small business owner or a manager for a Swiss company? Are you trying to get a French Amex or are you moving back to the US and trying to start credit here? Have you never had a credit card (except for the "Gold Visa back in college") or did you have a Chase Visa that went to collections?

It's a bit tough for us to give advice when you can't even keep your story straight.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]
[/RIGHT]

Elijahmex
Centurion Member
Centurion Member
 
Posts: 180
Joined: Mon Sep 29, 2014 1:10 am
Location: EURO-US

Postby Elijahmex » Tue Oct 14, 2014 9:52 am

djrez4 wrote:From your Amex thread -


Are you a small business owner or a manager for a Swiss company? Are you trying to get a French Amex or are you moving back to the US and trying to start credit here? Have you never had a credit card (except for the "Gold Visa back in college") or did you have a Chase Visa that went to collections?

It's a bit tough for us to give advice when you can't even keep your story straight.


I am a small business owner. I own a company but I do not call myself CEO as I am leaving myself space to grow so I understand that you may be confused.

Also I was planning on getting an Amex in Europe until a few days ago when it was decided that I would relocate to the U.S. thus the reason why I started this new thread.

Moreso I just wanted details from Euro Amex owners, it's that simple.

Realistically I would be living between Switzerland and New York. The headquarters are in Switzerland for which I wanted an Amex & still do. The Visa situation is for my personal purchases while in the U.S.

I hope I managed to clear my story
Image

Heisenberg118
Gold Member
Gold Member
 
Posts: 30
Joined: Wed Sep 17, 2014 8:54 am
Location: Maryland

Postby Heisenberg118 » Tue Oct 14, 2014 10:24 am

Elijahmex wrote:I am a small business owner. I own a company but I do not call myself CEO as I am leaving myself space to grow so I understand that you may be confused.

Also I was planning on getting an Amex in Europe until a few days ago when it was decided that I would relocate to the U.S. thus the reason why I started this new thread.

Moreso I just wanted details from Euro Amex owners, it's that simple.

Realistically I would be living between Switzerland and New York. The headquarters are in Switzerland for which I wanted an Amex & still do. The Visa situation is for my personal purchases while in the U.S.

I hope I managed to clear my story


Well, regardless of your reasons, you'll still want to pursue getting a copy of each of your credit reports.

Do as the person above pointed out to get your scores, but ultimately what's important will be in your reports.

Elijahmex
Centurion Member
Centurion Member
 
Posts: 180
Joined: Mon Sep 29, 2014 1:10 am
Location: EURO-US

Postby Elijahmex » Tue Oct 14, 2014 10:53 am

PlyrStar93 wrote:It could depend on whether or not the tradelines/bad information has fallen off. Collection accounts may fall off after 7 years, while original tradeline maybe 10 years after closing. So, your credit may not be so good, but may not be as bad.


For all three you can go to myFico and buy those reports+scores.
You can also go to Equifax to buy your Equifax report and FICO. For TransUnion and Experian you cannot go to their sites to buy FICO scores.
If you have Discover/Barclays card then each statement you can get free TransUnion FICO (no report); if you have FNBO credit card then Experian FICO.

But as above has said, you want to see what's on the report more than just getting the scores.


Thanks. So Equifax will provide pretty much all scores and my credit report? I hope that's all i need in order to get started.

Thanks
Image

Heisenberg118
Gold Member
Gold Member
 
Posts: 30
Joined: Wed Sep 17, 2014 8:54 am
Location: Maryland

Postby Heisenberg118 » Tue Oct 14, 2014 11:13 am

Elijahmex wrote:Thanks. So Equifax will provide pretty much all scores and my credit report? I hope that's all i need in order to get started.

Thanks


No, Equifax will only be able to give you the Equifax score. I think each bureau has their own product line where you can get all three reports, but as I said, you can probably go to annualcreditreport.com and get all 3 reports for free. The scores are seldom, if ever, free unless you get it from the lender via a denial letter or some other form of disclosusre at time of credit app.

User avatar
PlyrStar93
Centurion Member
Centurion Member
 
Posts: 410
Joined: Wed Jun 04, 2014 1:06 pm
Location: Chicago

Postby PlyrStar93 » Tue Oct 14, 2014 11:21 am

Elijahmex wrote:Thanks. So Equifax will provide pretty much all scores and my credit report? I hope that's all i need in order to get started.

Thanks

You can buy your Equifax report + FICO score run from your Equifax report. For TransUnion and Experian's FICOs I don't believe you can get them from there.

"Equifax score" may refer to another thing, which is their own scoring model other than FICO. If you see a product there saying you can buy 3 bureau report + score, then basically it's the Equifax's FAKO but not FICO.
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.



Return to “Visa & MasterCard”

Who is online

Users browsing this forum: No registered users and 2 guests