Chosen by Asker

Welcome to the United States! I have lived both using credit cards and without credit cards. I choose now not use any credit cards for any personal bills or expenses. With the number of Americans in extreme credit card debt today, you might reconsider your need for them. The Congress just passed new credit card regulations that go into effect in 9 months so things are kind-of up in the air. From a practical standpoint, there really is nothing that you can get with a credit card that you cannot get from a debit card. Except of course, the immense risk of using someone else's money. With the first dollar you borrow, you become a "slave" to the lender. I think the bank is doing you a favor by turning you away. Focus on building your savings in a good interest bearing account. When it is time to buy a home, you will be able to get a mortgage through a process called manual underwriting. The FICO score is not everything it is cracked up to be.

by Patrick C

5 months ago

Asker's Rating: 

Welcome to America. With the economy being what it is, credit cards are kind of hard to get unless a high fico score.Here fico score is everything. If it is high like 700 that is good but 500 or below not so good. maybe yours is low because you have not been here long enough you haven't had time to built it up. You can start by openings a savings account and turn around and borrow your money back, using they money as your security on the loan. Repay it by making your payments on time. This will help your fico score. You can also get a pre paid credit card. These can be purchased almost anywhere. They are call pre paid visa and master charge. This is where you deposit money on the card and you can then purchase things using the card. Some places won't take cash so haveing a pre paid card is important because it will work just like a credit card. On the pre paid card, they will charge you a small fee each month. For example if you put one hundred dollars on the card. They will probably deduct five dollars for fees and you can spend the balance.

by coffee.taylor- 5 months ago

netspend.com works good and you get 5$ on it if you put this referral code 3807903688 and they send it to every one free

by texas9735- 5 months ago

Get a credit card from local bank and pay it in time. You also can use this service to avoid common mistakes while buiding credit and pre-estimate future scores for different scenarios of payments - creditreport.imess.net

by Case- 5 months ago