How long before I can get a CC?

[FrustratedUser]

Here is the deal.
I moved to the US from Europe mid Januari this year. How long does it take before I can get a credit card.
They won't even give me a credit at CircuitCity!!!

 

[RossMAN]

I would ask Skoorb he's a Canadian who moved to the US, from what I remember it was quite an ordeal.

First of all make sure you have a social security number. If you have that, go to your local bank and open a checking and savings account to establish a relationship with them. After your account has been open for at least 6 months apply for a SECURED CREDIT CARD with that bank using your savings account as collateral (you're virtually guaranteed approval - unless they show you don't exist in the credit bureau's records).

Good luck.

 

[FrustratedUser]

Thanks,
I got all I need in terms of SS numbers and income. I also managed to get a credit when I bought the car but the APR is borderline criminal.
So, the plan is to suffer with high APR for 6 months or so and then try to refinance. This would build my credit history.

 

[RossMAN]

Although your APR is borderline criminal at least you got financing. A lot of people would kill to be in that position.

Unfortunately it's going to take time, at least 6 months (best would be 12 months), just make sure to never ever have a late payment. To minimize the interest you're paying I suggest sending an extra $50-$200 per month to reduce your principal balance.

 

[FrustratedUser]

Yeah, guess I am lucky in a way.
Trust me, I am paying more than I need to. Even a CC APR of 15% would be heaven.

 

[Fritzo]

Seems like once you hit 30, the good cards start rolling in. I just got an AT&T Universal Platinum Mastercard that's got 100 free hours of long distance (has it's own PIN number---cool!), an $8000 limit, 0% for one year, and %9.74 after that. It REALLY helps if you own something like a house or some sort of property. Lenders like that.