This tutorial is intended for those new to the United States and who do not want to spend weeks researching scattered information.
The article will describe: how to open a credit card, how to increase your Credit Rating (credit history), how to get free miles to fly for free.
Opening a credit card:
When you arrive, it is best to go to Bank of America and ask to open a Secure Credit Card (you put your money, usually everyone puts $500).
You can take a risk and immediately try to open a credit card, but in 50% of cases they may refuse and then take away points from your credit rating.
Sometimes there are specialists in the bank who are too lazy to work (especially at the end of the day, so come in the morning), they can say that you can not do, just go to a nearby specialist or another bank branch.
Once you open a Secure credit card, you have a credit score from that point on, but you don’t see it, and you won’t see it until 6 months later.
But there is a way to see your credit rating right away.
Take into account that it is better to take the first card without a subscription fee, because it can never be closed, otherwise the credit rating will collapse.
Credit Score Fico (Credit History, Rating)
To see your credit rating, you must register on two sites (applications):
To register at these sites, you need an SSN, it can make this company visakrokit.com
It is desirable to inform the bank about your SSN number after you have done it.
After you can log in, you will see what you add points for and what you take away.
Increased credit history
What would your rating be high is necessary:
- Spend up to 30% of the amount allocated to you as a credit.
- As soon as possible to pay off the amount you spent on the credit card (just transfer from debit card to credit card).
- Use different financial instruments, then we will tell you what they are.
- Keep as much money as possible in your checking account balance
The credit rating looks at how much you know how to use different financial tools, the more the better.
Different financial instruments:
Leasing agreement — renting an apartment, buying a car on credit.
Loan (Loan) — you can buy different goods in installments on popular sites Amazon, Ebay, Walmart, American Airlines, … usually the goods must cost more than $50-100 with the help of virtual cards in installments:
Free miles for Credit Card
As soon as you begin to have a credit history, banks will start sending beautiful envelopes to your address advertising new credit cards.
Do not take them for yourself under any circumstances. And also do not take credit cards that are offered to you in different stores.
Do not pay attention to cache backs 1-3% for a physicist they are useless.
The thing is, once you take a credit card from a bank, you can’t take any more credit cards with free miles from that bank, because one of the conditions, you didn’t get their bank card before that.
Even if the bank is unknown, there is another limit, a maximum of 5 cards opened in 24 months.
Six months after you opened your first Secure Credit Card, you have a Credit Score, you can already apply for your first credit card with bonuses in the form of free miles.
But it is desirable from the experience of most to apply for the 9th month.
It’s best to apply online through Pre qualified, a popular thing in recent years where you apply in advance and if the card is not approved, the points are not taken away from your Credit Score.
What are Miles (or Points) on credit cards.
Roughly speaking, these are the same dollars that are best spent on plane tickets.
On average, 1 mile = $1 — $1.2
Example:
70,000 miles = $700-$840
Provided that you take tickets in advance, a round-trip airplane ticket across America will cost approximately $180.
And that means, opening a card with 70 thousand miles of $700 you can fly up to 4 times to different cities in the U.S. even long flights Los Angeles — Miami.
1. The first card is better to get Delta SkyMiles® Gold Amex (American Express)
- They give 60-80K miles. (different pages and days give different numbers, monitor periodically, I got 75K miles on December 26, 2022)
- First year free, next year $100 a year.
- You only have to spend $2k for 6 months (not like other cards for 3) to get the bonus.
2. A second Citi Premier® Card
- They give 60-80K miles. (different pages and days give different numbers, monitor periodically, I got 80K miles on January 5, 2023)
- Subscription $100 per year
- You have to spend $4,000 for 3 months to get free miles.
3. the Third Credit Card Chase Sapphire preferred
- They give 60-80K miles. (different pages and days give different numbers, monitor periodically, I got 80K miles on March 11, 2023)
- Subscription $100 per year
- You have to spend $4,000 for 3 months to get free miles.
