Catch 22

[joens]

when I moved here from canada 3 years ago same story I had all kinds of credit history in canada but none here . I had a checking account with Bank of America and they sent off to the credit bureau in canada for a report and gave me a credit card based on that.They needed my last address in canada and my social insurance number and it took about two weeks .
Joens

 

[Jersey]

caymaniac once bubbled...
Sounds like you have a Major major problem. How about joining a credit union, they often offer credit cards to their members?
Caymaniac

Caymaniac - that was one Heller a joke. I think the literati here missed it. Glad to know I'm not the only fan.

 

[Scubaroo]

Jersey once bubbled...
Caymaniac - that was one Heller a joke. I think the literati here missed it. Glad to know I'm not the only fan.

Can I sell you some Egypian cotton? I have a whole crop's worth! :deal:

 

[Jersey]

Scubaroo once bubbled...
Can I sell you some Egypian cotton? I have a whole crop's worth! :deal:

Sorry 'Roo - can't take your cotton, can't get you a credit card either. Suggestions here are valid - secured card, watch the fine print. Major gas cards usually willing to issue without prior credit.

Reminds me of my car insurance debacle - one non-chargeable accident (1989) in 22 yrs of driving. I AVERAGE 35,000 miles a yr. Insurance keeps going up, why? You haven't had an accident therefore you are at a greater risk to have one. Oh - so I should go out & have an accident just to reduce my risk? Oh no- that will definitely increase our risk & your premiums.

"That's some catch, that catch-22."

 

[Spectre]

When a friend of mine went through this, he went by way of a secured credit card.

There is one easy way to get around the credit card catch-22, and that's to get one when they'll give you as many as you want... College.

I've had a number of folks tell me that they don't want their children having credit cards in college, 'cause it's too easy to get themselves into trouble. Well... that's exactly why it's easy to get 'em in college... cause they suck you in and then spend the next 5 years sucking money out of you...

... but you've got a card!

 

[detroit diver]

Lawman once bubbled...
go to a bank and open a checking or
savings account. Then they take out
a small personal loan secured by the
account. Then they pay it back. They
now have a credit history, and a good
one.

Lawman,

That's precisely what my father did for me when I was 16 years old. He co-signed a $500.00 note that I paid back in 6-8 months (I think-that was a long time ago). That set up my credit history.

I plan on doing the same for my kids-albeit I don't think $500 will cut it anymore!

Ya know what they call a co-signor? A schmuck with a pen!

 

[Scubaroo]

Spoke to the bank again today - different person. Apparently they have an office that handles applications for credit from ex-pats, which is a different process to a normal credit application, so I can have a credit card (and accompanying credit history) in about a week!