# Credit Rating



## Rutilius (Jan 22, 2011)

What is the procedure for an expat planning to move to the USA and rent an apartment, rent/buy a car and get a credit card without a credit rating or credit history in the US?

I understand that the car can be bought/leased from International Auto Source only if executed prior to landing in the US.


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## Fatbrit (May 8, 2008)

Rutilius said:


> What is the procedure for an expat planning to move to the USA and rent an apartment, rent/buy a car and get a credit card without a credit rating or credit history in the US?
> 
> I understand that the car can be bought/leased from International Auto Source only if executed prior to landing in the US.


rent apartment -- expect increased hassle, documentation and possibly higher deposits. But it's quite doable.

rent/buy car -- not a great fan of leasing. Buy a runner for cash from a private seller (
craigslist). This will also save you a fortune on your insurance since you will be higher risk until you've had a US license for some years.

credit card -- if you've got an Amex, see if you can transfer it. If not, get a secured card from BoA/Chase/Wells-Wachy with %500 down. Spend no more than $100 on it each month, and pay in full when bill arrives. Rinse and repeat for at least 6 months and you'll have a fledgling credit score.


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## hutais (Jul 2, 2010)

Fatbrit said:


> rent apartment -- expect increased hassle, documentation and possibly higher deposits. But it's quite doable.
> 
> rent/buy car -- not a great fan of leasing. Buy a runner for cash from a private seller (
> craigslist). This will also save you a fortune on your insurance since you will be higher risk until you've had a US license for some years.
> ...


With AMEX you need to have lived here for 12 months before they will change it over. My husband is finally up to 12 months this saturday and FINALLY we will have a credit card. We have been using debit cards for the last 12 months.


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## Fatbrit (May 8, 2008)

hutais said:


> With AMEX you need to have lived here for 12 months before they will change it over. My husband is finally up to 12 months this saturday and FINALLY we will have a credit card. We have been using debit cards for the last 12 months.


AMEX are a law unto themselves! However, they are the only ones who consistently will transfer your credit card.

American Express - Moving Abroad - Global Card Transfer


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## hutais (Jul 2, 2010)

Fatbrit said:


> AMEX are a law unto themselves! However, they are the only ones who consistently will transfer your credit card.
> 
> American Express - Moving Abroad - Global Card Transfer



Tell me about it we have been counting down the days  However we have done great without them for 12 months  I cant believe we have been here for 12 months!!! That has flown


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## Rutilius (Jan 22, 2011)

I havnt gone through that stage yet. But I would assume that your current credit rating (from a different country) cannot be carried over to the US?


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## hutais (Jul 2, 2010)

We own property and have an excellent credit rating in Australia and it was WORTHLESS here in the USA  We have paid cash basically for everything.


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## Fatbrit (May 8, 2008)

shanmarsh2 said:


> Am I right to presume that during the visa process they take a look at your credit rating? I'm not overly worried about it but I know in the past I.


I doubt it.


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## acop (Sep 28, 2011)

I concur with the first reply. Been there, done those.

Apartment: sublease is another option.

Car: buy it with cash, new or old. Nobody will refuse that.

Credit card: Secure Credit Card. If you have problem with big banks, go with smaller community banks. I put down $500 to secure my first credit card when I first arrived in US. Six months later Credit card applications start pouring into my mailbox(I was starting paying off my US student load too which results in good credit history).


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## Rutilius (Jan 22, 2011)

acop said:


> I concur with the first reply. Been there, done those.
> 
> Apartment: sublease is another option.
> 
> ...


So in 6 months time you could opt for an unsecured card with a higher credit?


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## acop (Sep 28, 2011)

The credit limits of the new credit cards vary from person to person. When you have companies offer you better credit cards, you can sign up with them if you want, cancel the secure credit card and get your $500 back.


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## Kevlegs (Jun 15, 2011)

I applied for and received a Capital One credit card to help with the credit building process.


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## Fatbrit (May 8, 2008)

Rutilius said:


> So in 6 months time you could opt for an unsecured card with a higher credit?


It takes a minimum of 6 months of data for the FICO algorithm to generate a score for you.

Make your credit applications sparse -- your score can drop every time you apply as it makes you look desperate.


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