Credit for Foreign Physicians

[endodoc]

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How would a person with a recent social security number (less than a year) get credit? I am a pending permanent resident of the US, and a current medical resident. I have heard there are places where foreign physicians can get credit cards, home mortgage? I have tried to get an American Express card and was denied, do to lack of credit in the US.

 

[mdblue]

GEt a secured credit card. You may also want to try being a member of the employee credit union and applying a credit card thru them.
Good luck.

 

[doglover]

How would a person with a recent social security number (less than a year) get credit? I am a pending permanent resident of the US, and a current medical resident. I have heard there are places where foreign physicians can get credit cards, home mortgage? I have tried to get an American Express card and was denied, do to lack of credit in the US.

I read this several months ago and I think this article talks about your exact problem -

http://msnbc.msn.com/id/5750688/site/newsweek/

 

[Wichitan]

I know umpteen guys who made it a point to get a credit card from their home country...obviously international credit cards...

is there a wells fargo bank close by? if yes, then those guys do offer a credit card when u open an account wid them...try it!


👍

 

[endodoc]

A few months back I saw a thread regarding FMG getting homes, but cannot find it.

 

[hammersmith]

A few months back I saw a thread regarding FMG getting homes, but cannot find it.

Getting a credit card is easier. Most banks offer "secure credit card". This and regular payment of your bills for about an year should be sufficient to build up history to secure a regular credit card. Some banks, like Bofa, require an year of account with them to offer a "secure credit card", but, credit unions go easy on this. As far as mortgage goes, you must hire a mortgage broker, who should be able to convince a lender in some god forsaken corner that your potential as a doctor to repay the loan should overweigh your zero credit history. Bottomline, it is not that difficult and there is a wealth of information if you hit the internet.

 

[Leforte]

My wife is a foreigner (Australian) and had little problem getting credit in her own name without my co-signature on anything once her SSN came through. Banks are willing to trust you initially, although not with huge credit limits.

She started off with a $1500 credit card from a major company for revolving credit. Then got a new car to have installment credit about 12 months in country. After that it was easy for additional cards, etc. (we wont go into the amount she has, but thank goodness we don't use it!) - and her credit score after 24 months in country is ~760 (she is deducted for having too new of a credit history).