I'll be moving the US this month and wondering how to go about getting a credit card. This will be my first time in the US aside from my interview, so I will have zero credit history in the country. I'm a US citizen if that makes any difference. On a side note, does anybody know the pay cycle at Facebook? Monthly? Fortnightly?
Get a secured well Fargo or whatever. Within 6-9 months they convert it. Then get an AMEX I have found easiest and after about 13 months of constant use you can get most regular cards. Cards attached to hotel or air miles are a bit easier too.
Thanks for the advice. Are credit reports from other countries completely useless? Was thinking of obtaining one before I left, but starting to think it's not worth it.
Essentially they are useless unless you bank with HSBC and can use the international move program where they set you up with everything in advance based on your history with them. I don’t know if any other bank that has this option.
Get a discover secured card. They r the easiest to get imo. Your deposit is ur credit limit and u get double cash back first year.
should probably warn op that no one takes discover
Discover is pretty widely accepted now. I've had one for about 2 months and have been using it pretty frequently. Was not accepted only once or twice, in which case OP can just whip out their debit card.
discover and even Capital one can give you “credit card” once you have first pay check. But credit limit will be very low(~$300, when I got 6 years back).
Setup direct deposit so that your bank can see where you work and that you have a stable stream of income. Wait a few months then you can get a entry level credit card easily. I got my Chase Freedom Unlimited after 3 months at Google with no credit history.
Any specific reason why you chose the Freedom Unlimited over the Freedom? As the Freedom gives 5% cashback (on rotating categories) over the Unlimited's 1.5%. First-timer looking to get a CC, hence my query.
No specific reason. You can get both and get 5% on rotation and 1.5 on everything else so which card you get first doesn’t matter at all.
Most banks will give you a (single) credit card based on your employer reputation and not your credit history. With facebook you should be able on the clear and get a CC with a reasonable limit.
If you’re starting at Facebook, check and see if Facebook has a partnership with a bank / credit card - that will probably be easiest to start with.
Get a citi or Bank of America secured card, you can deposit 5000-10000 to open card and it accrues interest. After a year it gets converted to a regular credit card. After conversion, wait 1-2 months for it to report out to all 3 credit agencies, get co-branded Amex cards, they will give you 2500-25000 limits very easily. Chase is very stringent, need at least 3 years of history, Discover is easily, Amex easiest as long as you really spend with them as they have their own scores that are more important for their decisions, Citi probably 18-2t months after. Synchrony bank store cards are pretty high limits and are generous credit line undresses every 3 months
Awesome, great advice.
I didn’t have any issues with Chase. Came to the US. Got a secured card from another bank for $ 3000 (forgot the name), used it heavily for 7 months and paid it off immediately every month, 8-9 months later I got the Chase Sapphire Preferred after having a bank account with Chase for less than a year. It really depends on how well you behave and build your credit score. Now, 1 year later, I’m on the Sapphire Reserve because I like traveling a lot, really a lot.
Try a credit union. They may give you an unsecured credit card
Google has an agreement with Stanford Credit Union that would give you $10k limit without credit history iirc. Other credit unions will give you similar deals based on employment alone. I guess it's the same with fb.
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You can get a secured credit line at like $500 limit
Excuse me for my ignorance. But is there specific reason for a $500 limit? Is there any benifit to a higher limit?
Every (most?) credit cards have limits, even if they’re extraordinarily high. Since you have no history, the bank doesn’t trust you by default. A 500 limit is the lowest most banks will go, and to be accepted for such a card is pretty easy