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Credit Rating/Score

That’s something quite unusual for someone from Germany here in the US, the personal credit score/rating, which determines, if you can get a credit card. That’s not quite easy for someone like me, who doesn’t have an income in the US. To be able to get a credit card, I have to have a certain/good credit score, but to get a good credit score, I have to have an credit card, or, even better, more than one. Kind of a Catch 22, isn’t it? Even the bank at which Mary and I have our joint bank account only gave me a debit card. I did get invitations/offers from that bank for credit cards, but when I applied I was always told that my credit rating was too bad.

Somewhat more than a year ago I got an offer from a different credit card company which, on application, granted me a credit card, limited to $500 for the first year, and now upgraded to $750. That’s not much, but sufficient for my purposes as I usually use my German credit cards here. With this credit card I was really “well-behaved”, meaning that, as it expected here to build up a good credit score, never maxxed it out [in fact, one should not use more than two thirds of the available maximum] and always paid the complete balance on time, but also used it regularly.

In this way I seem to have become “trustworthy” because 3 weeks ago I got another offer for a credit card from a different company again, and my application was immediately approved – online even. Again, this credit card is limited to $750, but it means I have another card to keep building up my good (financial) reputation with.  ;)  With this credit card approval I also got a written copy of my credit report, which is quite good, to tell the truth.   :)

2 responses to “Credit Rating/Score

  1. Your debit card probably has a credit card symbol on it, probably Mastercard. That means that you can also use it as a credit card. I only have debit cards but sometimes the company doesn’t take debit cards so I have to use it as a credit card.

    • Hi Russel,
      Thanks for the explanation. I think you’re right. If I remember correctly, the charges appear as “credit card charges” on my statement.
      Have a good one, and take care,
      Pit

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