Cosigner for a credit card?
irobot10 asked:
I am an immigrant (green card) resident of the US. I own my house and have excellent credit rating. My wife recently got her green card and SSN. We asked our local bank for a secured credit card so that she can build her credit. The bank refused the application and demanded that they need a US citizen to cosign for my wife’s credit card, even if we are asking for a card that is secured by our checking account with the same bank. This is absurd because we have joint accounts with this bank from last 5-6 years and have healthy deposits. They wouldnt even let me add her to my existing credit card! We dont know aany US citizen who will cosign for us but thats besides the point anyway. Can the bank discriminate like this?
secured credit application
I am an immigrant (green card) resident of the US. I own my house and have excellent credit rating. My wife recently got her green card and SSN. We asked our local bank for a secured credit card so that she can build her credit. The bank refused the application and demanded that they need a US citizen to cosign for my wife’s credit card, even if we are asking for a card that is secured by our checking account with the same bank. This is absurd because we have joint accounts with this bank from last 5-6 years and have healthy deposits. They wouldnt even let me add her to my existing credit card! We dont know aany US citizen who will cosign for us but thats besides the point anyway. Can the bank discriminate like this?
secured credit application
Tags: 6 Years, Green Card, Secured Credit Card
November 11th, 2009 at 3:34 pm
secured credit application
The problem is that the bank usually gets away with stuff like this. Yes, it is unfair and discriminatory, but ordinary folks have little recourse.
If your wife has a job, then all it takes is a little time to build up her job history and it should be OK then. If she is not working, then you will have to try at other banks. Or ask her to take a temporary job just to get a few paychecks.
November 13th, 2009 at 1:24 am
secured credit application
Credit cards have gotten tough.
They are no longer issuing cards to people that are not employed.
Tell her to keep applying for cards everywhere she goes.
At gas stations, at stores like kmart, kohl’s, target, sears, jcpenny.
Someone will give in.
Of course, never pay interest and pay in full each month.
I hope you are aware that carrying balances will reduce scores….
November 13th, 2009 at 8:40 pm
secured credit application
Maybe you can become a citizen and then cosign for her. Unsecured debt to people who might go back to their own country and not pay doesn’t seem to be discrimination to me. I don’t think I could go to most other countries and open a credit card.
November 14th, 2009 at 1:31 pm
secured credit application
Tell them either issue her a secured credit card or you’ll close all your accounts and go to a different bank. As you found out, trying to be nice doesn’t get you anywhere.