how soon can i apply for credit cards with my new social security number?
I just recently became a greencard holder and got my new social security number last week. how soon can I start applying for credit cards (dept. stores, banks, etc)? does anyone have a suggestion as to which ones approve easier for those without credit history like me?
First of all, don’t apply for a whole lot of credit all at once. You will be turned down. Getting a social security number doesn’t mean you develop credit overnight, in fact it means that you don’t have a credit history at all!
Credit bureaus don’t even start building a file on you until merchants start reporting your payment history. This would take 1-2 months at the minimum even if you opened an account today.
Since you have no credit, you may want to consider opening a credit card with a secured balance. Make sure you don’t get one with $200 credit limit and $175 in upfront fees. There are many like that available on the web.
You can open a CD at a bank, and get a loan from that, get a credit card from a store, say Wal Mart, cell phone or other retailer that reports to the credit bureaus.
For more information on credit bureaus,visit experian.com. This is one of the three largest bureaus.
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