You've just opened a US bank account. The banker mentions a secured card that needs a deposit, and a credit union down the street offers a small credit-builder loan. Both say they can help you build credit. Your years of on-time payments back home don't show up here, and you don't want to tie up money in the wrong thing.
Both a secured card and a credit-builder loan can start a US credit file for a newcomer, but only if the lender reports your payments to the credit bureaus.
Does my credit history from home count here?
Usually not. Experian says credit histories don't follow you when you move to the US, because laws, reporting practices and systems differ between countries. One exception: some US lenders and property managers use Nova Credit's Credit Passport to read your credit report from a country Nova covers when you apply; India and Mexico are on its list, Russia isn't (checked October 17, 2026). It doesn't open a US account for you.
The three US credit bureaus, Equifax, Experian and TransUnion, build your file from what lenders report to them. Your Credit Timeline covers what a first score needs. No one can promise you a date, a number or an approval.
How much money does a first account tie up?
A secured card. In most cases your refundable deposit becomes your limit: a $200 deposit usually gets you a $200 limit, Experian says.
- Example: your $15 phone bill goes on the card each month. That's 7.5% of the limit ($15 ÷ $200), under 10% on that card and overall.
- Autopay the full statement balance. If your checking balance can't always cover it, autopay at least the minimum as a safety net and pay the rest yourself by the due date. With a grace period, which most cards have, you pay no interest on purchases.
- You usually get the $200 back when you pay the balance and close the account, or if the issuer converts the card to an unsecured one. Capital One says there's no set timeline for that (checked October 17, 2026).
A credit-builder loan. In the loan the CFPB studied, a credit union put $600 into a locked savings account. Borrowers paid about $54 a month for 12 months, about $648 in all. Of that, $600 went into their own savings ($50 after each payment), and about $48 was interest. Some lenders release the money only at the end. The lender reported the payments, on time or late, to the three major bureaus.
The study found the loan worked better for people with no other loans. People already repaying loans saw their scores dip slightly on average. Rent reporting and authorized-user accounts are covered, with the catch in each, in five ways to start a credit file.
Do I need a Social Security number to start?
Not always. Some banks and credit unions accept an ITIN (checked October 17, 2026). An ITIN is the nine-digit number the IRS issues if you need a US taxpayer ID for federal taxes but aren't eligible for a Social Security number (IRS, updated October 28, 2025). Turned down? The notice must give the reasons or say how to get them (If you were denied). Starting From Zero covers who can get an ITIN, how to apply and what to expect when you use one.
What can I do today?
- If you have an SSN or an ITIN: call one bank or credit union about its secured card or credit-builder loan. Does it report to Equifax, Experian and TransUnion? How much goes in, and when does it come back? Any fees or interest? If you use an ITIN, is it accepted? Don't share your number with us.
- If you have neither: read the IRS page on who needs an ITIN. If you don't need one, ask a bank or credit union which ID it accepts for a card that reports.
Will this card build my US credit file?
A bank offers you a secured card with no annual fee, but it doesn't report to any credit bureau. What does that mean for your US credit file?
- A. Your on-time payments still build it, because the bank sees them
- B. It won't build your file; ask for a card that reports to the bureaus ✅
- C. It starts building your file once you pay off the full balance
Why: your US credit file is built from what lenders report to Equifax, Experian and TransUnion, so a card that reports to none adds nothing to it, however well you pay.
Where do these facts come from?
- Experian — "Canadian Credit History Will Not Transfer to United States" (July 15, 2016), https://www.experian.com/blogs/ask-experian/canadian-credit-history-will-not-transfer-to-u-s/; "How Secured Credit Card Deposits Work" (November 13, 2023), https://www.experian.com/blogs/ask-experian/how-does-the-deposit-in-a-secured-card-work/; "What Is a Credit Utilization Rate?" (October 9, 2025), https://www.experian.com/blogs/ask-experian/credit-education/score-basics/credit-utilization-rate/ · Verified 2026-10-17
- CFPB — "Targeting credit builder loans" (July 13, 2020), https://www.consumerfinance.gov/data-research/research-reports/targeting-credit-builder-loans/, its report (July 2020), https://files.consumerfinance.gov/f/documents/cfpb_targeting-credit-builder-loans_report_2020-07.pdf, and press release (July 13, 2020), https://www.consumerfinance.gov/archive/newsroom/cfpb-study-shows-financial-product-could-help-consumers-build-credit/ · Verified 2026-10-17
- CFPB — "What are some ways to start or rebuild a good credit history?" (last reviewed September 13, 2024), https://www.consumerfinance.gov/ask-cfpb/what-are-some-ways-to-start-or-rebuild-a-good-credit-history-en-2155/; "What is a grace period for a credit card?" (last reviewed September 23, 2024), https://www.consumerfinance.gov/ask-cfpb/what-is-a-grace-period-for-a-credit-card-en-47/ · Verified 2026-10-17
- Companies' own pages — Capital One, "Upgrading from a secured to an unsecured credit card" (February 26, 2026), https://www.capitalone.com/learn-grow/money-management/unsecuring-capital-one-secured-card-upgrade/; Capital One, "How To Get a Credit Card With an ITIN" (April 30, 2026), https://www.capitalone.com/learn-grow/money-management/what-is-an-itin/; Latino Community Credit Union, "Become A Member" (no date on page), https://latinoccu.org/become-a-member-2/; Nova Credit, "Credit Passport" (no date on page), https://www.novacredit.com/credit-passport, and "Company" (no date on page), https://www.novacredit.com/company · Verified 2026-10-17
- IRS — "Individual taxpayer identification number (ITIN)" (page last reviewed or updated October 28, 2025), https://www.irs.gov/tin/itin/individual-taxpayer-identification-number-itin · Verified 2026-10-17
- Federal law (eCFR) — Regulation B, 12 CFR 1002.9, "Notifications" (current text, up to date as of October 15, 2026), https://www.ecfr.gov/current/title-12/chapter-X/part-1002/subpart-A/section-1002.9 · Verified 2026-10-17