Best CC to Build Credit as Immigrant

Card Recommendation Request Forum
1

Hello, I moved to the US recently and started working this month. I’m thinking of starting to build my credit score. What do you guys recommend? I was considering the Discover secured card or trying with BofA first, as I have a checking account there, or trying with Chase since I have a joint bank account with my wife there. I’m lost and would love some guidance.

2

BofA will give you a credit card. But keep in mind that to really build history, you are going to need a TIN. That’s the number that prospective lenders will use to run your report.

3

Wade said:
BofA will give you a credit card. But keep in mind that to really build history, you are going to need a TIN. That’s the number that prospective lenders will use to run your report.

This is partially true. I got the credit card from BofA about a year before I got the SSN. Obviously, I did not have any credit history until I got the SSN, but once I did, my history was backdated to when I originally obtained the card.

4

Wade said:
BofA will give you a credit card. But keep in mind that to really build history, you are going to need a TIN. That’s the number that prospective lenders will use to run your report.

I have an SSN. People told me not to go with BofA, but they will probably offer a secured one. In that case, I thought Discover is better with cash rewards and all.

5

Template for Card Recommendation Requests:

Please use the following template so that everyone can make appropriate recommendations:

  • Current cards: (list cards, limits, opening date)
    • e.g. Amex BCP $8,000 limit, May 2019
    • e.g. Chase Freedom Flex $10,000 limit, June 2021
  • FICO Score: e.g. 750
  • Oldest account age: e.g. 5 years 6 months
  • Chase 5/24 status: e.g 2/24
  • Income: e.g. $80,000
  • Average monthly spend and categories:
    • dining $800
    • groceries: $400
    • gas: $100
    • travel: $100
    • other: $30
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6

Capital One and Discover tend to be friendlier issuers for new players. If you can, try pre-approving and let us know your results:

7

@Del
Discover pre-approved me for the secured one, and most of them will offer that since I have no credit history. So, I was thinking out of all secured credit cards, which one is the best?

8

Bliss said:
@Del
Discover pre-approved me for the secured one, and most of them will offer that since I have no credit history. So, I was thinking out of all secured credit cards, which one is the best?

List out your discrete options.

9

@Del
I remember when I opened my BofA, they offered me a secured credit card with a minimum deposit of $200.

  • Discover pre-approved for the secured one (minimum $200 deposit).
  • Capital One recommended the Platinum Mastercard and the QuicksilverOne Rewards (no idea if they require a deposit or not).
10

@Bliss
Platinum Credit Card | Capital One, no AF, no rewards.

QuicksilverOne - Unlimited Cash Back Credit Card | Capital One, $39 AF, 1.5% cashback.

You weren’t specific about the Discover card, but my guess: Discover Secured Credit Card | Build Your Credit History, no AF, 2% at gas stations and restaurants up to $1,000 combined quarterly, 1% otherwise.

I wouldn’t discount the Platinum since you could target product changing it once you broke the bucket or earned significant credit limit increases.

11

@Del
So what would you recommend? If I can keep my $200 in my pocket, that would be lovely. Also, I’m not planning on big purchases; I just want to build credit for the future.

12

Bliss said:
@Del
So what would you recommend? If I can keep my $200 in my pocket, that would be lovely. Also, I’m not planning on big purchases; I just want to build credit for the future.

My choice back in the day was the Platinum (mine was secured but that was back before pre-approval tools). It’s offered as a Mastercard, so you could consider product changes down the road to maybe Venture or SavorOne. It’s less-than-ideal from a rewards perspective, but it presumably saves you the deposit and the AF. New players have to start from somewhere.

13

@Del
Yeah, true, all secured ones seem cheap on rewards. Is Discover also bad (rewards-wise)? Sorry for the many questions, and I appreciate all your help. I know I have to start somewhere, and my options are not that many.

14

@Bliss
Discover and Capital One have healthy subprime books — they are often willing to take applicants that other issuers won’t.

My beef with Discover is that none of their offerings are particularly compelling, so there’s no room to grow.

Capital One, on the other hand, has some good products you could eye down the road — Venture X and SavorOne, for example. With them, building a productive relationship is usually not a waste of time.

15

@Del
Ok, thank you so much for all the insights. So helpful.

16

Bliss said:
@Del
Ok, thank you so much for all the insights. So helpful.

This comment is empty; admin should fix it.

17

I’m an American who grew up overseas and had no credit history until about 4 years ago at the age of 36. I was planning to move back to the USA, so I wanted to build my credit rating.

I opened the Capital One Platinum Secured with a $200 deposit. Two years later, I was approved for a Chase Sapphire Preferred. My credit rating is now 765, and I’m able to apply for any credit card I’d like.

18

@Kale
They all offer secured ones. So I guess the Platinum is better than Discover.