Ceren H asked:


Let me start this over I have been in the country for 3 years . I came here with my student visa and opened an account with bank of america in 2006.Since I was a foreign and didn’t have a social they opened an account in a different way .Then I got married 2 years ago to my husband whom is a Us citizen.After our marriage I went to bank of america to update my address and name ..etc. They did the update which took for ever because they had to find my account info from a list which has millions of people whom they are holding other countries residency.From that time on I have been getting my statements and bank updates regularly with my name( marriage name) on it.Then one day I was at retail store to open an account with them they of course swiped my card to verify address and my application hasn’t been approved due to a mismatch on the address with my driver’s licence and debit card .After I contacted bank of america they couldn’t see any reason for that since I am getting my statements and everything,this follow up didn’t solve anything without even knowing that it is unsolved.

5 days ago my husband and I were trying to open joint account for us and we actually did open it online. They sent us a verification e-mail stating that it has been approved and they will be mailing our paper work in the mail .Since we thought we have an account we transfered some funds to that so that it would be active.Very next day I log in our online banking and our brend new account showing -$888.888.88 on hold.I of course freaked out and called my husband for him to call the customer service.He did talk to someone and that person said that the account is “at high risk”.My husband ask them the meaning of it.He couldn’t get any further due to the fact of our agreement .THEY DO NOT HAVE TO GIVE YOU A REASON TO CLOSE AN ACCOUNT. This morning we went to the bank .The lady who tried to fix our problem started with my old account.She updated the info and tried to talk to someone to fix our new account problem but no point.They have already closed our account and since there was another existing acoount under the same name they closed that to.The lady helping us asked the same question why?.And the person on the line whom is above her(as rank) said the same thing they do not have to give a reason.Lady who was helping us encourage for us to get a free credit report just to see if someone has stolen my identity .Sure enough I came home couple hourse ago and checked my credit report and I do not even have a credit history to begin with ..

I ended up not being able to open any other Checking accounts with this certain bank seems like no reason other than my nationality ! I am really confident to say this ,I haven’t commited any crime neither here nor in my homeland ,other than one seat belt violation in United States when had my driver’s permit,I do not have any criminal backround.They have red flagged me for life .I NEED TO TAKE A LEGAL ACTION! Need your advise ,the ones who has a knowlage of my situation

Thank you.

Rodney

Nataliya Yakushev asked:




Building positive credit as early as possible is the best thing anyone on the brink of independence can do for themselves. Getting a head start makes it easier to obtain a line of credit when you really need it further down the road. If you wait too long to take your first stab at getting a credit card, lenders can deny you for not having enough debt – even worse, that rejection will show up on your credit report and pull down your credit score. While the notion seems backwards, credit card companies don’t want to take a blind risk.

Establishing revolving debt, or debt that fluctuates each month, like a credit card balance, is extremely important to creating positive credit. Lenders want to see that you have a history of spending money and being able to pay off those debts in a timely manner. Getting a low-interest card and using it sparingly is the best route to personal revolving debt.

A short-term approach to financial freedom – like avoiding opportunities to build a solid credit history – can prevent you from getting credit when you really need it, hurting your future financially.

Debit cards aren’t always the answer

Many college students and young people out on their own for the first time rely on debit cards as a credit card substitute, but this practice can actually hurt them in the long run. While using a debit card does force you to stay within your means and helps you save money by avoiding interest fees, you’re not creating a credit history of any kind.

Don’t piggyback on someone else’s credit

Parents often add children or spouses as “authorized users” to their card. This gives the authorized user free rein to use the credit card with none of the responsibility for paying the bill, which lies squarely on the original cardholder’s shoulders. It’s an easy way for students to quickly earn a good credit rating. However, late payments will negatively affect everyone associated with the account, regardless of who’s responsible for paying the bill. A secured card account may be a better choice and help avoid a poor credit history.

Get a secured credit card

People having trouble obtaining a traditional, unsecured credit card might want to build their foundation with a secured card. A secured card requires cardholders to offer collateral upfront to guarantee payment. It allows you to save and gain a line of credit at the same time. If you provide $300 upfront, your secured card will have a $300 spending limit. When you choose to cancel, the company returns that initial deposit to you, minus any outstanding debt.(1)

“Secure Credit Card List: Add Accounts, Build Your Credit Report History, and Improve Your Credit Score (Increase Your Savings Too),” The Credit Scoring Site

Laurie