Building credit in the U.S. can be challenging if you don’t have a Social Security number. Most credit card applications require this information, making it difficult for individuals without an SSN to establish credit history. However, there are options available for those in this situation.
One alternative form of identification that can be used is an Individual Taxpayer Identification Number (ITIN). Regardless of immigration status, individuals can qualify for an ITIN, which some credit card issuers accept in place of an SSN. Additionally, other forms of ID, such as a passport, may also be accepted by certain credit card companies.
Here are some credit cards that individuals without a Social Security number can consider:
1. Firstcard® Secured Credit Builder Card:
– Up to 15% cash back at 29,000 partner merchants.
– Rewards on qualifying purchases.
– “Unlimited” cash back on all purchases.
– Annual fee: $4.99 to $12.99 monthly or $48 to $120 yearly depending on subscription plan.
Benefits:
– Friendly to students and newcomers to the U.S.
– Helps build credit by reporting payment history to major credit bureaus.
– Offers rewards, a feature uncommon among secured credit cards.
Drawbacks:
– High annual fee may make it challenging to maintain the account long-term.
– No clear path to upgrade to an unsecured credit card.
2. Neu Card:
– Rewards: 1.25% back on all purchases.
– Annual fee: $4 per month or $7 per month depending on eligibility.
Benefits:
– Eliminates credit history, security deposit, and SSN requirements for eligible students.
– Offers live customer service support.
Drawbacks:
– Reports payments only to TransUnion.
– Monthly fee may discourage long-term card usage.
3. Zolve Credit Card:
– Rewards: Up to 5% cash back depending on subscription plan.
– Sign-up bonus: Up to $50 in value.
– Annual fee: $0 to $299 depending on subscription plan.
– APR: 19% to 35.25% as of January 2025.
Benefits:
– Friendly to international students and visa holders.
– Reports payments to all three major credit bureaus.
– Offers rewards and credit limit based on approval.
Drawbacks:
– Lack of transparency on subscription plans.
These are just a few options for individuals without a Social Security number to start building credit in the U.S. Each card has its own set of benefits and drawbacks, so it’s important to choose one that aligns with your financial goals and circumstances.