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Cloud Residents · US Credit
1k members • Free
6 contributions to Cloud Residents · US Credit
8d •
For those of you building U.S. credit with an ITIN and multiple credit cards, how do you keep track of everything each month?
Between payment due dates, statement closing dates, utilization, and autopay, it seems like it could get stressful once you have several cards. Do you use a spreadsheet, an app, calendar reminders, or just autopay everything? I’d love to hear what system works best for you.
1 like • 7d
I currently have a single card so paying it manually. But my plan when I branch out is to just set autopay and use my brokerage account to pay via direct debit. I can then sell some t-bills to cover the withdrawal. Worst case is that I forget to sell t-bills, and pay margin interest for a day or two until I get around to it.
1 like • 7d
@Chrisdy Masson honestly it's much easier than keeping cash in a checking account at least for me. I don't actively use my US checking account since I don't get paid in the US. On the contrary I already add money to my brokerage account every month using my local bank account, and paying directly from there avoids the hassle of sending money to my US bank accounts in the first place.
22d •
Itin loans
Any of you guys have done itin based mortgage or loans? I heard they would look more at property cashflow than personal income. I might be wrong. Does anyone have any idea on this?
1 like • 21d
You can get mortgages without ITIN/SSN from HSBC if you meet Premier requirements. Having a mortgage will also count as meeting Premier requirements, so you can withdraw the parked funds once mortgage is approved.
1 like • 19d
@Michael Martinez Easiest way is getting Premier in your own country and then transferring your status. You can also put $100k in a checking account at HSBC to get Premier in the US directly. Once you get the mortgage, it helps maintain your premier status so you can withdraw the $100k back.
29d •
HSBC US Premier checking account open
Hello everyone, I wanted to share our US bank accounts experience. We are 3 people in this game, the first one is a Canadian resident so it was easy to open a US account as Canadian banks offer a service to open an account in their US branch, second one is using Wise. Third one opened an HSBC Expat account (Jersey) and just after used it to open a HSBC US Premier (you can open a premier account in another country if you already premier somewhere). I think you have 3 months to deposit the 75,000 gbp in the HSBC Expat account to remain premier but the HSBC US didn't request a proof of the qualification requirements, maybe we got lucky, HSBC US Premier still open, initial HSBC Expat account closed, all of this by deposit 100 gbp
0 likes • 26d
You may be charged the $50 inactivity fee and get your account closed in 6~ months. They have a system in the background that checks whether you have an eligible premier account in another market.
May 23 •
Credit Card Shipping Options from US to other countries?
Hi everyone, How are you shipping your credit cards from your US mailing address to your address outside of the US? I'm planning on sending my cards to a friend's address in the US, which will need to be shipped to my actual address abroad. I've checked out a couple of options, and the cheapest option is USPS which still costs about $50~. UPS and Fedex are worse with over $100~ in costs. It shouldn't be this expensive to ship a simple envelope to Europe with tracking. How much do you usually pay to ship your cards to your home address?
0 likes • May 24
@Nitik T How much does it cost to forward a credit card?
May 9 •
Just got approved for my first credit card from HSBC
Hi everyone, I've had an HSBC Premier account in the US for a while due to being eligible as Premier in a different country. I've recently wanted to start my US credit card journey, thus easiest card to get was the HSBC Premier card. I received an email yesterday that my application was successful and that I would receive my welcome package in the mail. Don't know what my credit limit will be as the card didn't show up on the app just yet. Edit: Card shows up on the account now and I have $7000 credit limit. The process itself was pretty easy, I had to send in a recent statement of my HSBC credit card from my home country. They also requested a letter from my employer stating my salary and my start date. It was approved pretty swiftly after that. Card itself is honestly not that great in terms of rewards. Definitely not worth the $95 annual fee that's for sure. You can get better rewards using something like Wells Fargo Autograph which also has no annual fees or FTF. But it is definitely worth it to keep it for a year or two to build credit, after which I'll most likely close it. I also have a question to anyone who had HSBC credit cards before. I'm currently in the process of applying for an ITIN, were you able to add your ITIN to your HSBC file later on and get everything reported to credit bureaus? Thanks
2 likes • May 9
@Arun A Had to apply over the phone as the online application only works if you have a US address on file. Some of the customer service agents also had no idea about anything and gave me wrong information saying I can't apply based on my current country of residence. Had to call multiple times to find a native english speaking customer rep instead of some outsourced call center in India. Once I found the correct guy it was fine though. They sent a form to my email which I've filled out and it took them about 4~ business days to complete the process including a couple of back and forth emails where they requested additional documents.
0 likes • May 9
@Carl Johansson Nope, used my foreign address. I don't have an ITIN yet either so I've also kept that blank in the application.
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