I know that you have enjoyed a stellar credit ratings in your respective countries but in Chile are you a "No Body",I remember this phrase coming from nwdiver-san..What you have to do in order to rapidly accelarate your Credit History over there in Chile? Perhaps, Charles-San could give his input here tellin' us the secret formula.
In the USoA it goes this way. I will start from Chile: The Chilean "Credit Rating". How does the Credit Bureaus grants personal Credit History build up initially.? Here in the states, if you are born and raised American, very obviously when you open your Bank Account and you become eleigible Age-Wise, to become a Credit Card applicant, theBbank where you have your Checking-Savings account(s) will invite you to apply for a "trial" US$500.00 limit Visa/Master Card of course,then your same amount plus figure that you may have in your Bank account(s) will be held hostage as collateral just in case of default by non-repayment etc.etc.
Or you could use your parents to do the Co-Signing guarantors for you to establish your initial Credit History. Then once you get your 1st card, may be, just may be, other Credit institution would notice that you had your card issued from your Bank and you have entered the Credit World, then they also wants a piece of the "Future Pie" which is the young and juicy applicant,You!.
Or, if you are from another country, probably came legally to reside and work in the states or an adult per se of foreign origin and have not yet have established a credit history in the states,then have more difficulty but also doable,get a co-signer or have enough in the Bank and use that sum as collateral,then some of the Banks may consider giving you a Credit card.
The best and greater borrowing prowess process for you comes to acquiring a Credit card easier from all or any Lender institution here is, Do your best and get a car finance loan approved either, from each manufacturer's own captive finance entities such as GMAC,(General motors acceptance corp ) or FOMOCO ( Ford motor credit organization ) or Chrysler financing, or TMCC (Toyota motor credit corporation ) etc, etc, there are huge bunch of them Auto manufacturer's financing arm companies. Also you have to have a large amont of down payment in the vecinity of 25%~30% of total cost of your chosen vehicle and may need a co-signer in addition to get the finance loan approved, case by case, all depends on the credit analyst, they have a very low guide lines but mostly up to the Analyst and the Finance Directors of each Dealership, You know, the Wine and Dine process,(bribing the buyer=bankers).! To get the deal bought OK'd by the captive Finance credit acceptance of each...Most of the applicants are the "Ghost" "Invisible"in credit world.!
In the event that you have an Auto finance loan approved, Heaven for you! All solicitors of Visa,Master Cards plus other Credit cards comapny will send you the welcoming invitation for you to get their cards! So the Approval of a Big ticket item such as Cars costing tens of thousand dollars, would give that person Big Clouts..It is the easiest way for you to establish your credit in the states, then the credit rating will start. After 6 months of Car notes re-payments started, then your rating will show in the much sought and claimed FICO number and it should show as that person had earned a rating of 600 or so out of highest scores of 850.
A Person possesing a Score of 740 plus,( in order to attain a 740, one have had to show more than 6 borrewed items showing in the record as,"Paid as Agreed" and be in the Credit Bureau more than 10 years.) are Automatically approved, no income verification,"As Is" till the Finance Crunch caused by the Leehmans Brothers.! So since the fiasco, a bit more rigorous. We at Toyota Lexus Financing at TMCC and at the Dealerships Finance Department, l reviewed at each applicants FICO scores and Debt to Earning Ratio all day,in order to determine if that FICO score is a legit one, it could be "Camouflaged" the Credit Rating Score called the FICO Credit Score..So this is how is done in Finance capitol of the World,the America, in EU and Japan... So how is it done in Chile ?.. Charles-San please doctrine us all.
HybridAmbassador.
AKA in the States as, Rickey-San!
Source: http://www.allchile.net/chileforum/topic9739.html
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