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Building a good credit history in the USA

This is very nice of you to summarize the strategy. Employers in certain industries will look at your credit report before hiring (they can only legally do it with your consent though). Also, by law every individual is entitled to one free copy of credit report from each agency every 12 months. The three credit reporting agencies maintain a website - annualcreditreport.com, where people can get their reports online (sometimes though, they are unable verify your info online, in that case they ask you to mail in your request, and you should receive your free copy via mail).
It is also important to stay on top of your report by checking it from time to time to make sure there are no unauthorized charges or identity theft. Apartments landlords are notorious in the US for putting collections on report after you move out. This happened to my wife, as apartments representative conducted an inspection in her presence and assured that everything was fine at the time, and that she would get her deposit back in some time. She then moved to her country. Couple of year later I am looking at her credit report and there is a collection (and some other negative stuff that should not have been there). So, it took me 5 months of emailing, calling different parties, disputing and so on, to get rid of all that stuff on her credit report, her credit is perfect now. By the way, disputing is much easier now then it was several years back, and can be done online with all the 3 agencies. The point is that it is much easier to deal with unauthorized charges if you spot them early.
 
Speaking of SSN and DS260, I was issued one a while back when I visited US for J-1 experience. However, I would like a new card. So do I choose the option where they issue a new card? I assume it will be with the same number. What do your think?
Thanks,
 
Sensei-san said:
This is very nice of you to summarize the strategy. Employers in certain industries will look at your credit report before hiring (they can only legally do it with your consent though). Also, by law every individual is entitled to one free copy of credit report from each agency every 12 months. The three credit reporting agencies maintain a website - annualcreditreport.com, where people can get their reports online (sometimes though, they are unable verify your info online, in that case they ask you to mail in your request, and you should receive your free copy via mail).
It is also important to stay on top of your report by checking it from time to time to make sure there are no unauthorized charges or identity theft. Apartments landlords are notorious in the US for putting collections on report after you move out. This happened to my wife, as apartments representative conducted an inspection in her presence and assured that everything was fine at the time, and that she would get her deposit back in some time. She then moved to her country. Couple of year later I am looking at her credit report and there is a collection (and some other negative stuff that should not have been there). So, it took me 5 months of emailing, calling different parties, disputing and so on, to get rid of all that stuff on her credit report, her credit is perfect now. By the way, disputing is much easier now then it was several years back, and can be done online with all the 3 agencies. The point is that it is much easier to deal with unauthorized charges if you spot them early.
Click to expand...

Good points about bad marks and fighting them - I will add that to the post - thanks!
 
Sensei-san said:
Speaking of SSN and DS260, I was issued one a while back when I visited US for J-1 experience. However, I would like a new card. So do I choose the option where they issue a new card? I assume it will be with the same number. What do your think?
Thanks,
Click to expand...

Just pop down to the SSA to get the new card....
 
For people that lives in canada here's something I found really interesting about the banking and the credit history build in US, I do my banking with RBC (the biggest bank in canada ) they do have a business also in the US and recently I called RBC in US to get information and benefit of opening an account with them in the south border, after almost an hour with RBC in canada and in the US over the phone I believe that will be a great start to get with start with them, why? For those reasons:
1- the account can be opened in canada in any branch for the US based chequing account and credit card, or over the phone with RBC US, and since they do have all you information already (if you're a client) you don't have to provide anything (you can provide your US SSN to apply for credit card or line of credit, mortgage if you have it, if not you can added it later) and you can start build your credit history by applying to credit cards ...
2- if you do have an account here you can link them and transferring the money between the two country is free via RBC , http://www.rbcbank.com/banking-in-the-us/checking-accounts/index.html
3- when you apply for credit card or loan mortgage ..., they can use your Canadian Social Insurance Number (SIN) to access your Canadian credit file and get the information we need to approve your application. Once your loan account is opened, you're building a credit history in the U.S. However, to ensure that your credit file is complete and reported accurately, you'll need a United States Social Security Number (SSN).
I found that interesting I though I share it here, I hope that will be helpful.
Thanks for all of you for sharing you experiences
 
Wissamo said:
For people that lives in canada here's something I found really interesting about the banking and the credit history build in US, I do my banking with RBC (the biggest bank in canada ) they do have a business also in the US and recently I called RBC in US to get information and benefit of opening an account with them in the south border, after almost an hour with RBC in canada and in the US over the phone I believe that will be a great start to get with start with them, why? For those reasons:
1- the account can be opened in canada in any branch for the US based chequing account and credit card, or over the phone with RBC US, and since they do have all you information already (if you're a client) you don't have to provide anything (you can provide your US SSN to apply for credit card or line of credit, mortgage if you have it, if not you can added it later) and you can start build your credit history by applying to credit cards ...
2- if you do have an account here you can link them and transferring the money between the two country is free via RBC , http://www.rbcbank.com/banking-in-the-us/checking-accounts/index.html
3- when you apply for credit card or loan mortgage ..., they can use your Canadian Social Insurance Number (SIN) to access your Canadian credit file and get the information we need to approve your application. Once your loan account is opened, you're building a credit history in the U.S. However, to ensure that your credit file is complete and reported accurately, you'll need a United States Social Security Number (SSN).
I found that interesting I though I share it here, I hope that will be helpful.
Thanks for all of you for sharing you experiences
Click to expand...


Nice! Thanks for adding that!
 
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