Originally Posted by
Jorgen
I'm also a foreigner who has just been rejected for the Chase Mileage Plus Club Card. The difference is that I've lived in the US for five and a bit years, though it wasn't until six months ago that I decided to actually get my first credit card (a random Bank of America cashback card) since I'd never really felt any need to borrow money.
Welcome to the insanity of the American credit rating system.
The only way to build a credit rating (basically, what the entire country runs off) is to have just enough - but not too much - potential debt.
Note that your capacity to cover that debt is a relatively insignificant factor in your "credit rating". Or, in other words, how much cash you have is basically irrelevant.
You need multiple lines, and types, of credit, to build a decent credit rating. It will take 12-18 months minimum, after which you will be able to apply for, and receive, decent credit cards. The card you have is a good start. I suggest also getting something like a car loan to supplement that - it well help your credit rating build up quickly.
Counter-intuitively, being in an excellent position to pay back credit (ie: cash- and/or asset-rich) will not help your credit rating in the slightest.