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Will it build your credit history if you are not a US citizen but have been regularly using your check card as a credit card?

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2006-11-19 10:20:41
2006-11-19 10:20:41

Citizenship is not a factor here because debit cards used as credit cards is basically delaying the payment for merchandise. Instead of having the money withdrawn immediately (debit), it is delayed a few days and taken out then (credit). Also, you are not borrowing money when using a debit card, whether as debit ot credit, because you're using money you already have.

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To build a credit history from having none is a difficult prospect but any website that offers you a pay in 90 days or similar offer establishes a credit history. Alternatively the bank you have your savings account at might offer you a lower maximum borrow limit credit card which you can then use to establish a credit history.


Building a credit history requires taking out credit to get a history going. Open a no-annual-fee credit card and make sure to charge to it every month. Also, make sure to pay it off in full each month to build a positive credit history.


You can apply for small store based cards such as kohls, maurices, American eagle... They build your credit and are relatively easy to get with limited credit history.


To build credit history quickly, take out a new credit card and pay off the balance each month. Also, make sure you do not have any balances on major credit cards or store credit cards.


Credit cards aid to build credit history in the same manner that any debt, whether it is from purchasing a car or by just paying rent. Be responsible with credit cards. You should not overspend.


If you are NOT a US citizen it is very difficult to start an account with any lenders. The only way to build credit initially is to have someone add you as a user, cosign a loan or apply for a secured card using your money as the limit. These methods require a SSN.


Some of the best ways to build your credit history is to get a landline phone and make all your payments on time. Another way would be to get a credit card with a very low limit and pay it off every month.


You can get a credit card starting out with a small limit. If that still doesn't work look at getting a pre paid credit card to build credit. Bill payments on utilities are a great way to build credit.


Obtain a credit card and use it. Store credit cards are available to use as well-- they're specific to that store, of course, but it can be used to build a credit history with purchases and such. Any major payments made will count towards that credit history.


The simple answer is - spend and pay ! Most credit card companies will issue a card to a 'first-time user' without problems. Once you get the card - use it regularly, but pay off the balance as quickly as you can. Don't 'max it out' so you need to ask for more credit. That will start to build your credit history, and make more facilities available to you - such as cash advances, increased limits etc.


No, spendings of debit cards aren't reported to credit reporting agencies. However it's possible to have a secured credit card(backed by a savings account) and build credit with that.


If you think you can get the Gesa Credit Union card, then you may go for it or get one from a larger bank if possible. To build your credit, make sure you are prompt on your payments. As you use credit card, and pay it back, your credit history will build.


To build your credit history you just need to get a credit card and make purchases with it and pay it off. They offer bad credit credit cards for people who are just starting out, you can call Visa, or Mastercard.


35% Payment History 30 % Amounts Owed 15% Length of Credit History 10 %Types of Credit used 10% New Credit for more information go to www.thecreditguy.tv


To build a credit history and raise your credit scores, you must pay your bills on time, you must use credit, and you do not have to pay interest on your credit cards. In fact feel free to pay your credit cards off fully each month. Most importantly, you cannot expect results overnight, building credit takes time.


Yes you can. Everyone starts off at some point without a credit history, and there are options available for people who would like to get a credit card without any history of having one. They can start to build their credit history by applying for a secured credit card or applying for a joint credit card with someone who has an established credit history. The third option available to someone who has no credit history is to find a credit card issuer catering to first-time customers and offer student credit cards or bad credit credit cards or just plain and simple credit cards that are able to be approved for with little or no credit history.


Capitol One has pre-approved credit cards for those who's credit rating may need improvement, or those who need to establish credit and build a credit history.


Online Credit can be obtained in a variety of ways. A store credit card can be opened and used to build online credit. When a retailer extends a customer a line of credit a history is recorded.


One of the best ways to gain business credit is by establishing your business credit profile using one of the key business credit reporters. You can build business credit by demonstrating a responsible payment history and solid cash flow. Whether or not this can be done quickly depends on your business credit history.


You build up credit by making purchases on credit and making payments for them. Since you may not qualify for major credit cards, you can start with either debit cards or get department store credit cards such as Sears, Macys, Kohls, etc. The store credit activity becomes part of our credit history.


I have a credit score of 711 but limited credit history, which means not much experience so I'll need to build up credit. 711 is on the good range but you should also remember to maintain it or build it up. You wouldn't want your score to go down.


Your chances are pretty slim. With that being said, my suggestion to you is to open a bank account and start building a long term relationship. Once you build up $1,000.00 in your savings account parlay that into a secured loan. Make your payments for 6 months and then pay it off in full. Now you have a positive credit history. It is an old fashion way of building your credit but it works!


You are at the mercy of potential landlords and your own bad credit history. There is no magic trick available. You may need to wait and save up a substantial security deposit and try to build up a better credit history.


Your credit history is simply the period of time you have had open lines of credit. Say you had five credit cards and you kept them each for exactly one year and then closed each of them. You would have five credit years of history but most scoring systems would see that as one year of credit history. If you had one credit card account for one year and another for the subsequent year and so on for five years, you would also have five years of credit history, but, again, scoring systems would still see that as (more or less) one year of credit history. Now, if you had one credit card for five years, then the scoring systems would definitely see that as five yeas of credit history. So, creditors and scoring systems look at how long you have maintained each line of credit and the longer the better.


If you are like most small business owners, you want to build business credit for your company and get small business loans when you need them. To build business credit means less risk for you as the owner of the business. There is effort involved when you decide to build business credit. Start taking the steps to build business credit from the get-go. This way, you won't find yourself without a strong business credit profile even if your business is thriving. There is a lot of hype regarding the need to build business credit that says personal credit does not matter. It's true that when you build business credit, you separate your business credit from your personal credit, but it does help to have strong personal credit as well. The more solid you are on your feet with personal credit, the more effective you will be when you build business credit. Credit protection laws vary between personal and business credit, so it's important to understand the differences when you begin to build business credit. A good rule of thumb to follow is simply this - repair your personal credit along with the efforts you are making to build business credit. As you begin to build business credit, set up your business structure properly with the state and get all the necessary licensing. When you build business credit you will need a business phone listed in the telephone directory under the business name. Buying products or services from companies that report your payment history to Dunn & Bradstreet and Experian will help you build business credit. Don't be discouraged by the best business credit score being reserved for the "big guys" when you build business credit. Maintain your focus and you will build business credit that has enough impact to catch the interest of private commercial lenders. Beware of loan fraud when you build business credit - a legitimate underwriter will not charge you a fee upfront to connect you with a business loan lender. There may be fees for other services involved when you build business credit, but not for that. Good business credit cannot be "bought."



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