Hi all, Is it an issue if my husband (the principal applicant) enters the US before me and possibly at a different POE? He is thinking of going over for an exchange trip for Uni (and then staying on) in late June but I cannot get there until late July. Not sure if we have to enter together for mine to be valid, or if it's ok as long as he has entered first. Hershal, JFK is going to be our POE so keeping an eye on all your info with interest, particularly who you go with for your banking...good luck!
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- Thread starter Kellie
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Britsimon
Super Moderator
No problem for him to enter first, and at any POE.
SusieQQQ
Well-Known Member
Someone may want to add/correct, but from what I understand frequent changes of address count against you from a credit record perspective - you may want to ensure that the address changes you envisage above (ie from what you have currently to the forwarding one to what you will have when you move permanently) don't offset any benefit of getting the card sooner.
good luck with the rest of the prep, and the move, and here's to getting your spelling mojo back Thanks Britsimon, so can I then enter alone later or does he have to be with me when I do?
Sm1smom
Super Moderator
He doesn't have to be with you.
Sensei-san
Active Member
Frequent address changes do not affect the credit score. However, when you are trying to finance some movable assets, lenders would consider how likely it is to track down a debtor in case they have to repossess the asset. 2 years at a current address is normally considered safe by lenders.Someone may want to add/correct, but from what I understand frequent changes of address count against you from a credit record perspective - you may want to ensure that the address changes you envisage above (ie from what you have currently to the forwarding one to what you will have when you move permanently) don't offset any benefit of getting the card sooner.
Address changes will only show up on the credit report if you provide a new address to your lender every time you move. (the lender will report it to the credit bureaus)
Overall, I don't think one should consider the impact of temporary address changes on credit profile before one settles down.
SusieQQQ
Well-Known Member
do you know then why credit karma suggests using a previous address when you have been at your current address less than 6 months? Also when we applied for phone contracts at Verizon, they first used our new address then asked if we had an old one (the old one being the mailing address while we were out the US but that we 'had' for a year) and it was only then they could get a credit profile not requiring a deposit. So that seems to show it does matter. We would have to give a deposit otherwise.
Also sorry but is the above not contradictory as you say it doesn't affect it, but then you say the lender reports it to the bureaux and it goes on your credit report? Why would it go on if it wasn't important? Why would it make a difference to Verizon's credit report on us (which they said was all done by Experian?)
Thanks SusieQQQ, you have no idea how brainless I have been. I keep having to insert brain before I leave the house as it slips out on a regular basis at the moment. I can't recall ever having so much to think about. This beats new baby brain hands down. I have never before written 'there' instead of 'their' lolSomeone may want to add/correct, but from what I understand frequent changes of address count against you from a credit record perspective - you may want to ensure that the address changes you envisage above (ie from what you have currently to the forwarding one to what you will have when you move permanently) don't offset any benefit of getting the card sooner.
Sensei-san
Active Member
The score (numerical representation of your credit profile) is not affected. Address is reported as part of your id information (id info is not in the formula for the score).
It is normal procedure for a lender to ask for a previous address if one stays at a current address for less than 2 years (when one finances an automobile). It is an important factor that lenders take into consideration, no doubt.
When one recently moved into the country and credit report shows 3 addresses (if one chooses to report temporary addresses with a bank) instead of 1 in the past 6 months, I do see how it changes anything in the eyes of a creditor.
My point - it is important to start accruing your residential stability, however it should not get in the way of more practical settling decisions.
My knowledge might be outdated though, cause it's been a while.
But my score is up to date:
Creditkarma is a great service (being free), however as I read their articles and suggestions I found some of them misleading (in some instances purposefully).
Hershal
Active Member
Guys and gals.
Thanks for the info. It's always good to see different opinions. However. I'm still at a loss to what I should actually do. We don't know anyone in the USA. So the address we have down for our green card delivery is an agent in New York. We are currently in Florida. For another 10 days. So we wanted to open a bank account and secure credit card if possible here in Florida. However when we move to the USA in December we will be moving to Houston Texas. Now being three different states and three different addresses would this be problematic. I was already told but the officer at the SSA that he could not send a SSN interstate so are banks the same? If we opened in Florida would it be an easy fix to change it over to Texas.
I again don't want to damage my credit score. But I would also like to try and build one. We don't mind having to put deposits down for certain things as we are fortunate enough to have a bit of savings.
But if we can avoid it, and grow our credit it would be great
Thanks for the info. It's always good to see different opinions. However. I'm still at a loss to what I should actually do. We don't know anyone in the USA. So the address we have down for our green card delivery is an agent in New York. We are currently in Florida. For another 10 days. So we wanted to open a bank account and secure credit card if possible here in Florida. However when we move to the USA in December we will be moving to Houston Texas. Now being three different states and three different addresses would this be problematic. I was already told but the officer at the SSA that he could not send a SSN interstate so are banks the same? If we opened in Florida would it be an easy fix to change it over to Texas.
I again don't want to damage my credit score. But I would also like to try and build one. We don't mind having to put deposits down for certain things as we are fortunate enough to have a bit of savings.
But if we can avoid it, and grow our credit it would be great
SusieQQQ
Well-Known Member
The score (numerical representation of your credit profile) is not affected. Address is reported as part of your id information (id info is not in the formula for the score).
It is normal procedure for a lender to ask for a previous address if one stays at a current address for less than 2 years (when one finances an automobile). It is an important factor that lenders take into consideration, no doubt.
When one recently moved into the country and credit report shows 3 addresses (if one chooses to report temporary addresses with a bank) instead of 1 in the past 6 months, I do see how it changes anything in the eyes of a creditor.
My point - it is important to start accruing your residential stability, however it should not get in the way of more practical settling decisions.
My knowledge might be outdated though, cause it's been a while.
But my score is up to date:
Creditkarma is a great service (being free), however as I read their articles and suggestions I found some of them misleading (in some instances purposefully).
Like I said, we had a situation where it affected Experian's assessment of whether we needed a deposit or not. YMMV.
SusieQQQ
Well-Known Member
This may be bank dependent but we had no problem doing that with Chase (from opening in NY to moving to CA). In fact NY asked if they could keep our account with them as it makes no difference to our day to day lives (I think they get some commission or something on this cos CA tried to get us to move,lol) but anything we need is no problem - we have for example gone into 3 different branches to get bank checks and it has been quick and easy every time. Obviously if you open at a regional bank you probably couldn't do the same,but go to a national one and check when you open that this will be ok.
Also btw Chase gave us non-secured credit cards based on our balances with them - may be an avenue to explore - from what others have said this is not common.
Britsimon
Super Moderator
That is rubbish about the interstate SSN thing. The numbers used to be assigned with the first three numbers being a state identifier. That is no longer the case. I applied in California and gave a Boston address.
As for banking, my account was opened in Florida and I operate it in California with no issues. That is Wells Fargo.
Hershal
Active Member
Thats a little disappointing, not to worry, We will go back in on the 4th April and actually see if it was processed when we entered the US.
Thanks for the information regarding the banks. I will be looking at either Bank of America, Chase, Wells Fargo as I want a nation wide bank plus the means for international transactions.
@SusieQQQ Thats good to know about the non-secured credit cards. All we can do is go in to a branch today and ask, see what they say. Quick question though, I don't have a job i the US yet, would we get a secured credit card without a job?
I do have financials from my company back in Australia for the last 2 years with me.
EmilyW
Well-Known Member
@Hershal, we have our accounts with HSBC which allows us to bank both here and overseas. They've been pretty helpful to us so far. They've advised us to open the HSBC US account here so that we have funds / credit history we can use, but then open more local / easy to access accounts once we are there.
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Hershal
Active Member
@EmilyW
I was looking at HSBC aswell, at least for my company accounts as I still need to do business in Australia as well so I will definitely look into it.
We went into a Bank of America branch this morning to get some information and look at opening bank accounts and getting a secured credit card. All we need is our passport and a US address. Don't need our SSN as they can just add that later. Was told e could put $300 deposit down and get $300 secured credit card straight away. We weighed up doing this and in the end decided that getting a card now wouldn't really benefit us. We figure and if some one can correct me what would we need a good credit score immediately when moving to the US?
- Credit score for renting a property would may be an issue, but we have no problem with paying 3 months in advance rent and bond. Hopefully this is an option for people with no credit
- We would be purchasing a car with cash
- Phone can be prepaid and when it comes to internet access we can wait or pay a deposit if needed to get it.
Britsimon
Super Moderator
I would say, do the secured card on the assumption that they can add your SSN when you get it. Whilst you are correct that you can get by without the credit history, but once you do need credit (like a mortgage), your cost of credit varies based on your score.
Hershal
Active Member
@Britsimon
I will definitely be getting the secure cards and starting a credit history for both myself and the wife. But do you think we need to get them now considering we are making the move over in December anyways? The bank lender told us that the SSN isn't an issue at all, they jus add it when we get it, and we don't need it to open accounts and secured cards.
My concern with getting these cards is using them and having to pay them off while in Australia. All the extra expenses involved in exchange rates, transferring money internationally, buying things with the cards etc to save a few months? Is it all worth it in the end. We would also have to set up a mail forwarding address here in FL so we can get our cards sent to Australia once they arrive. It does seem like a lot of waste of money to get them set up and use them. Making purchases would have to be in US dollars to avoid fees on international rates etc.
I know I'm sounding like a penny pincher, but I do like the fact that here in Aus I have no bad debt (Do have a mortgage though) at all no credit card debt. My Money works for me and I don't like seeing money go to fees and banks for no reason
Yes we want to eventually get a mortgage, but for the first year we are going to rent so we can get our feet and know we made the right choice in area. How long does a decent credit score take to build?
I will definitely be getting the secure cards and starting a credit history for both myself and the wife. But do you think we need to get them now considering we are making the move over in December anyways? The bank lender told us that the SSN isn't an issue at all, they jus add it when we get it, and we don't need it to open accounts and secured cards.
My concern with getting these cards is using them and having to pay them off while in Australia. All the extra expenses involved in exchange rates, transferring money internationally, buying things with the cards etc to save a few months? Is it all worth it in the end. We would also have to set up a mail forwarding address here in FL so we can get our cards sent to Australia once they arrive. It does seem like a lot of waste of money to get them set up and use them. Making purchases would have to be in US dollars to avoid fees on international rates etc.
I know I'm sounding like a penny pincher, but I do like the fact that here in Aus I have no bad debt (Do have a mortgage though) at all no credit card debt. My Money works for me and I don't like seeing money go to fees and banks for no reason
Yes we want to eventually get a mortgage, but for the first year we are going to rent so we can get our feet and know we made the right choice in area. How long does a decent credit score take to build?
Britsimon
Super Moderator
@Britsimon
I will definitely be getting the secure cards and starting a credit history for both myself and the wife. But do you think we need to get them now considering we are making the move over in December anyways? The bank lender told us that the SSN isn't an issue at all, they jus add it when we get it, and we don't need it to open accounts and secured cards.
My concern with getting these cards is using them and having to pay them off while in Australia. All the extra expenses involved in exchange rates, transferring money internationally, buying things with the cards etc to save a few months? Is it all worth it in the end. We would also have to set up a mail forwarding address here in FL so we can get our cards sent to Australia once they arrive. It does seem like a lot of waste of money to get them set up and use them. Making purchases would have to be in US dollars to avoid fees on international rates etc.
I know I'm sounding like a penny pincher, but I do like the fact that here in Aus I have no bad debt (Do have a mortgage though) at all no credit card debt. My Money works for me and I don't like seeing money go to fees and banks for no reason
Yes we want to eventually get a mortgage, but for the first year we are going to rent so we can get our feet and know we made the right choice in area. How long does a decent credit score take to build?
I have been here a year and my FICO score is now about 740. At that level I can get a good mortgage without being hit on points. That has worked out ok because were were able to buy some land without a mortgage and we will shortly apply for a mortgage for the build phase. However, if I had tried to line up a mortgage on a purchase to avoid a second year of rental our score would have been appreciably lower. Applying for a mortgage with a lower score could end up costing thousands of dollars in "points" and interest rate options. It's your call - but I think you are being pennywise and pound foolish.
About paying the bill. Open a bank account with B of A and stick a few hundred bucks in it. Use your secured card to buy a book on Amazon each month - $10. Setup the B of A account to automatically pay the CC bill in full each month.
CC1
Active Member
Thanks for sharing that info Britsimon, we are just back from our roadtrip/activation trip, got our wells fargo secured credit cards and everyday bankcards all set up and activated them online last night, now we are back in Aussie, we plan to do just what you suggested with Amazon, buying an e book every month for the next 10 months to establish a good credit history, my ? to you is, do you think that is enough to establish a good history or can you recommend anything else we can do, we also plan to do the same as yourself as in buying land when we go back in December this year cash after selling our australian property and then getting a mortgage to build in the USA after we have secured good work etc.