Strategy to obtain US Amex

[georgie23]

You can upload. Check my post previously for link

If I just did a application and succesful with ITIN is there any need to upload?

 

[Franko Costa]

Ok, I just returned from opening bank accounts in the US. Here are my thoughts and sorry this might be a little long:
- it will take around an hour each bank, so make sure you have enough time. Each bank you can make an appointment, but can walk in like a did with a couple (citi, BMO, BAML)
- take with you foreign passport and bank statement with address on it (some also require a banking card with your name on it too)
- to get all these banks, you need about 2 days. I was there for 3 so had enough time. Note that banks close their door at 4pm so they won't attempt to open any new accounts after 2:30pm)
- some banks required funding there and then, so take some cash instead of being charged $5 per time I needed cash to open a new account
* Chase - existing credit card - easy and no need to fund account
* Citi - new client - I was successful on the 3rd try at a different citi branch (one required original ITIN and another required a visa) and need to fund min $100
* US Bank - new client - very easy and need to fund min $100
* BAML - new client - easy and need to fund account
* Wells Fargo - new client - easy and need to fund min $100
* BMO (it was next door to citi) - new client - easy and need to fund min $25
* Barclays - new client - online only and still going through verification

Out of all this, if I get the bonuses for each account I will get $1,825 plus if I hold $15k with chase for 90 days that's another $600 (still unsure if I will do it)

 

[georgie23]

Great work - so almost a cost neutral from a flight point of view

 

[DC3]

I just returned from opening bank accounts in the US.

So, relatively straightforward to open these checking accounts.

 

[georgie23]

Did you open any credit cards as well?

 

[Franko Costa]

Great work - so almost a cost neutral from a flight point of view

I have so many points, it doesn't really matter too much

Did you open any credit cards as well?

No. I am at 4/24 and want to stay under as I have limited chase cards.

I wanted to build relationship to get biz cards with these banks

 

[Tiki]

I have so many points, it doesn't really matter too much

No. I am at 4/24 and want to stay under as I have limited chase cards.

I wanted to build relationship to get biz cards with these banks

Did you use a mail forwarder or a real address?

 

[pyramidforce]

DDo

I have so many points, it doesn't really matter too much

No. I am at 4/24 and want to stay under as I have limited chase cards.

I wanted to build relationship to get biz cards with these banks

Do you need to do anything in particular to build a relationship or just having the account is ok?

 

[desafinado74]

Ok, I just returned from opening bank accounts in the US. Here are my thoughts and sorry this might be a little long:
- it will take around an hour each bank, so make sure you have enough time. Each bank you can make an appointment, but can walk in like a did with a couple (citi, BMO, BAML)
- take with you foreign passport and bank statement with address on it (some also require a banking card with your name on it too)
- to get all these banks, you need about 2 days. I was there for 3 so had enough time. Note that banks close their door at 4pm so they won't attempt to open any new accounts after 2:30pm)
- some banks required funding there and then, so take some cash instead of being charged $5 per time I needed cash to open a new account
* Chase - existing credit card - easy and no need to fund account
* Citi - new client - I was successful on the 3rd try at a different citi branch (one required original ITIN and another required a visa) and need to fund min $100
* US Bank - new client - very easy and need to fund min $100
* BAML - new client - easy and need to fund account
* Wells Fargo - new client - easy and need to fund min $100
* BMO (it was next door to citi) - new client - easy and need to fund min $25
* Barclays - new client - online only and still going through verification

Out of all this, if I get the bonuses for each account I will get $1,825 plus if I hold $15k with chase for 90 days that's another $600 (still unsure if I will do it)

Thanks for the detailed report !
Do you have any problems logging into your accounts from Australia ? For example, did you require a text code to log in etc ?

 

[Franko Costa]

Did you use a mail forwarder or a real address?

Use a mail forwarder that I don't think many people use

Thanks for the detailed report !
Do you have any problems logging into your accounts from Australia ? For example, did you require a text code to log in etc ?

Received SMS's with some that worked fine with Tello. I was roaming with Telstra but all the branches have wifi and they set up all the app banking with you too

DDo

Do you need to do anything in particular to build a relationship or just having the account is ok?

Not planning on doing anything else. My main goal is to get business cards with them as I have potential for a lot of spend

 

[desafinado74]

Use a mail forwarder that I don't think many people use

Received SMS's with some that worked fine with Tello. I was roaming with Telstra but all the branches have wifi and they set up all the app banking with you too

Not planning on doing anything else. My main goal is to get business cards with them as I have potential for a lot of spend

Thank you for replying.
Just one last question :
Did Tello work with every bank that you had opened accounts with ?
Thanks in advance.

 

[georgie23]

RE HSBC - did anyone do as a joint account - can both then qualify to open US account in individual name?

Not sure if worth it but trying to get P2 involved so a US bank account would help

 

[Franko Costa]

Thank you for replying.
Just one last question :
Did Tello work with every bank that you had opened accounts with ?
Thanks in advance.

Yes every bank that required an OTP (I think there was only one that required it)

 

[mike0430]

Does anyone know if charge card will be listed in credit report?
I just noticed I currently have a fairly large amount of total credit limit, and not sure if I should get amex/chase to reduce limit for me? Would reducing credit limit help with approving new card at all? Or is it more to do with credit utilization ratio.
Thank you.

 

[georgie23]

Charge cards do get listed is my understanding you just don’t get a score for the credit utilisation part of the score

Total credit limit - from others interpretation it seems if your limit is near your income it may make it hard for them to give you more limit so reducing may be beneficial

 

[Franko Costa]

Has anybody used the Ink Biz Cash account in Australia at Officeworks? It codes as 5x at office stores, but has a 3% FX fee. If it worked at OW then I would get it a shot

 

[Tiki]

Has anybody used the Ink Biz Cash account in Australia at Officeworks? It codes as 5x at office stores, but has a 3% FX fee. If it worked at OW then I would get it a shot

Yes, I was buying Activ gift cards there to pay all my normal expenses and got 5x. You can also use Vodafone and Foxtel for 5x. That was all I found in Australia, others may know more places.

 

[djchuckles]

From a FICO perspective - how much of a no no is it to carry a small balance over for one or two statement periods?

 

[djchuckles]

HSBC Premier card arrived today. Activated. But it won’t let me add to Apple Pay. Any ideas why not? Tried connected via US VPN too and no joy

 

[aleaf]

Question for you all about transferring funds to your US bank acct.

To move about $10k AUD, I checked Wise and Revolut - both mentioned fairly regularly in this thread - as well as a few others. Couldn't see IBKR rates, perhaps only visible to account holders. Was really surprised to find Western Union came out as cheapest.

I always assumed WU had pretty poor rate or charged high fee. Surely that's not right. Am I missing something here?