Results 1 to 3 of 3
  1. #1
    Join Date
    Mar 2010
    Location
    United States
    Posts
    5

    Question New Immigrant to the U.S. - How to Build a Credit History

    My question involves a credit report problem in the State of: Illinois

    I entered the US in 2010 on a fiancee visa, and married in Jan 2011. I am currently going through the registration of permanent residence with USCIS.

    I have had a US bank account for 3 years, but have nothing else in the US by which my creditworthiness can be measured. I have a positive 30 year credit history in the UK, with no debt. Do US credit reference agencies have any relationship/exchange of information with their UK counterparts? I have discussed with my wife being added to utility bills/mortgage etc., but is there anything else I can do to quicken the process?

  2. #2
    Join Date
    Sep 2010
    Posts
    19,901

    Default Re: New Immigrant to the U.S. - How to Build a Credit History

    The credit agencies do not cross reference, but if you work with certain banks that actually will do manual underwriting, which will look at your real history rather than just your credit report/score, they may indeed take your foreign history into account.

    Other than that, borrow money, pay it back timely, is the way it goes.

  3. #3
    Join Date
    Mar 2011
    Location
    California
    Posts
    540

    Default Re: New Immigrant to the U.S. - How to Build a Credit History

    One good way to establish credit is to buy a car on credit. Auto dealers are very anxious to sell cars, and often extend credit to people that otherwise might not qualify for credit. Then scrupulously make payments on time for a year, then pay it off.

    Another way is to get a hypothecated credit card. That is where you deposit e.g. $500 and get a credit card with a $1,000 limit. Use the card regularly, such as to buy gas or groceries. Pay the balance in full each month. After a year, apply for a regular credit card. Once you get a regular credit card, you can close your account with the hypothecated credit card company, and get your deposit back.

    1. Sponsored Links
       

Similar Threads

  1. Credit Reports: Collection Agency Put Bogus Report on My Credit History
    By Sonatina in forum Personal Finance And Investment Law
    Replies: 3
    Last Post: 12-04-2010, 10:27 AM
  2. Default Judgments: Judgment on My Credit History, But I Was Never Served
    By vaportrail in forum Civil Procedure
    Replies: 2
    Last Post: 06-23-2010, 06:12 AM
  3. Credit Reports: Want to Build Credit
    By amessinil in forum Personal Finance And Investment Law
    Replies: 3
    Last Post: 07-23-2008, 02:40 PM
  4. Divorce: Credit card History
    By abdic8 in forum Divorce, Annulment and Separation
    Replies: 3
    Last Post: 08-23-2006, 06:55 AM
  5. Credit Reports: Can A Charge-Off Be Removed From Your Credit History
    By LiLMissUnderdog01 in forum Personal Finance And Investment Law
    Replies: 3
    Last Post: 11-07-2005, 05:50 PM
 
 
Sponsored Links

Legal Help, Information and Resources