Money

Starting with No Credit History

Microsoft
ujkfz

Microsoft

PRE
Google
ujkfzmore
Feb 7

So I'll be moving to US what do you recommend as I will be coming from abroad and credit histories are not transferrable?
What should I do?
What should I know?
What sould I be careful about?

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  • Microsoft BarFoo
    Get a bank account immediately. Bank accounts will have a credit card associated with it. You won’t have a problem getting that even as a foreigner since I’m assuming you have employment history, and I assume you are coming over for the same employer.

    You can get more than 1 bank account if you want. Make sure you have money direct deposited into both.

    If you want to get a car, go to First Tech Credit Union for a loan. They can also be one of your banks (technically, it’s a credit union, not a bank, but same basic thing). I assume MS == Seattle area, and First Tech is all over here. They have special rules for tech employees to get them loans.

    Pay off your CC in full when it is due and make sure you’re never late. Same for your car loan.

    Any time you get a chance to increase your credit amount on a credit card, do it.
    Feb 73
    • Microsoft
      ujkfz

      Microsoft

      PRE
      Google
      ujkfzmore
      OP
      Actually MS SF lol Seattle is overrated but the advice you're giving is solid,
      Is there a bank that MS is associated with? Which bank do they pay our salaries through?
      Feb 7
    • Microsoft BarFoo
      They direct deposit into any bank you have.

      It looks like SF also has a lot of First Tech Credit Unions.
      Feb 7
    • Microsoft
      ujkfz

      Microsoft

      PRE
      Google
      ujkfzmore
      OP
      Oh cool in my country MS only accepts one bank lol
      Feb 7
  • LinkedIn bored🐷
    Get 3 to 5 credit cards. One is not enough.

    Get secured credit card if you cannot get unsecured ones.
    Feb 70
  • Facebook public2
    Get a credit card and start building history asap.
    Feb 73
    • Microsoft
      ujkfz

      Microsoft

      PRE
      Google
      ujkfzmore
      OP
      Any recommendations on the credit card?
      Feb 7
    • Facebook public2
      Whatever you can get, you may need a backed card if you have zero history. Google starter credit cards
      Feb 7
    • Microsoft
      ujkfz

      Microsoft

      PRE
      Google
      ujkfzmore
      OP
      Thanks
      Feb 7
  • Microsoft sGxq62
    First Tech Credit Union has partnership with Microsoft. Open bank accounts there, they’ll give you a credit card with $10K limit immediately
    Feb 71
    • Microsoft
      ujkfz

      Microsoft

      PRE
      Google
      ujkfzmore
      OP
      Nice
      Feb 7
  • Microsoft sGxq62
    Get a car with a loan. Many car dealers will provide so called “loan for professions” aka loans for engineers who arrived with a good contract in their pocket.

    It should be 4-5% loan and you’ll receive a new credit account in your credit history.
    Feb 72
    • Microsoft
      ujkfz

      Microsoft

      PRE
      Google
      ujkfzmore
      OP
      Was thinking of not owning a car😅 FIRE
      Feb 7
    • Microsoft sGxq62
      Lease then
      Feb 7
  • Amazon WSB
    Get a starter credit card like capital one and wherever you open an account, maybe both. Keep your credit utilization under 10-20%, pay on time. You would have decent score in couple years
    Feb 70
  • Credit Karma SH62DA1
    Download Credit Karma :)
    Feb 74
    • Verizon G.Jetson
      Sorry, but CK does nothing but show you what accounts you have and then makes up their own "score" that has no relation to the real FICO score that everyone uses.
      Feb 8
    • Credit Karma SH62DA1
      Equifax, Experian and TransUnion collaborated to create VantageScore to offer more scoring consistency among the bureaus.

      VantageScore boasts that its 3.0 model can score millions more people than other models by incorporating up to 24 months of past credit activity – including utility and rent payments where available – which could open up more credit options to you.
      Feb 8
    • Credit Karma SH62DA1
      Also credit companies don't do approval based on FICO it's a lot more complicated than that.
      Feb 8
    • Verizon G.Jetson
      My mortgage company and car lender didn't care for that spin, sorry.
      Feb 8
  • General Motors / Eng
    RamenCup

    General MotorsEng

    PRE
    Boeing, Lockheed Martin, General Motors
    BIO
    Full stack developer with 6+ years of experience. I enjoy problem-solving, learning, and knowledge sharing.
    RamenCupmore
    Open an account on CreditKarma. It will shows you tips to boost your credit history and well as credit report
    Feb 70
  • General Motors / Eng
    RamenCup

    General MotorsEng

    PRE
    Boeing, Lockheed Martin, General Motors
    BIO
    Full stack developer with 6+ years of experience. I enjoy problem-solving, learning, and knowledge sharing.
    RamenCupmore
    Get 200$ Macy credit card
    Feb 70

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