Leroy_Travel

Hi all,

I'm moving to NYC on Friday and would like to start getting my US credit rating/credit history up and running ASAP. I am currently thinking of opening an account with Chase because they are everywhere and apparently their online banking system works

Because I'll be totally new to the US, I will have zero credit history as far as they're concerned and no SSN for two weeks.

In my circumstances:

1) will I be able to open an account at Chase (albeit 'red flagged' for 90 days to keep a close eye on me for fraud etc)?
2) will I be able to get a credit card from them at the same time (albeit a 'secured' one in which I'll need to have an amount deposited/kept at the bank)?
3) How soon after points 1&2 will I be able to get a 'proper' credit card and also my first bank loan (to help my credit report by having different lines/types of credit)?

I'm sure a lot of people have the exact same questions!

Thanks!
Leo

drbobguy

I believe the answer to number 2 is almost certainly no. You would need to get a SSN, open a bank account, and then apply for a secured card at that bank.

As to question one I presume it's possible to get a bank account for foreign nationals without residency in the US, but I don't know the procedure, I'm sure you can find that info online.

februaryfour

When I immigrated to the USA in Nov 2010, I entered with an SSN and Green Card status (married to US citizen). I didn't have the card when I entered, though. I waited until I had the actual physical green card in hand mailed to me from the INS. Then I went to a bank with my husband, and I opened a sole checking account at my local credit union.

Now, that said, in my experience working in a US bank, non-citizens without a SSN can actually open an account. You are also allowed to furnish the SSN within 30 days of opening the account.

I would _walk in_ to a Chase branch to inquire. The four pieces of information you MUST have when opening an account are your name, birth date, physical address, and (preferably government-issued) ID number. Source: https://www.privacyrights.org/fs/fs31-CIP.htm

ETA: As for credit cards, you must be able to provide proof of income. As long as you have something like a salary slip or income statement of some sort, you should be able to apply for something. Bring your first salary slip (I assume you have a job) in and you should be able to apply for a credit card. There is no guarantee that you will get one, though.
http://www.bankrate.com/credit-cards.aspx has a "find credit cards by credit score" feature, and you should be able to find something for new immigrants. I would not apply for those unless you find you are denied a credit card through normal application avenues, though.

Feel free to PM if you have more specific questions. I am not a licensed financial advisor, nor am I affiliated with any banks, but I have _very_ recent retail banking experience.

Edited again: Sorry I keep forgetting. #2 is likely to be a _yes_ but not guaranteed. #3 is more likely with proof of income such as salary slips. All of the above are far more likely once the SSN has been obtained. Talk to a banker _in person_ for clarification as all banks are different.