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Question about credit card debt and credit score for I-485

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  • Question about credit card debt and credit score for I-485

    Hello,

    Since the priority date of EB-3 became current, my attorney is gong to file I-140 along with I-485. I will have to mention my credit card debt and credit report.

    My Credit Score is 663 (Experian - Fair), and credit card balance is 35,000, auto loan balance is 16,000. Maintaining card and auto loan payments on time and there is no late payment since I started using credit cards (almost 4 years).

    Applying for Senior Application Developer, minimum wage for my location determined by the DOL is 78,000, and my current salary is 94,000 (annual).
    My 401(k) account balance is 52,000 in total and a 401k(k) loan has 18,000 balance.
    My Saving + Checking account balance is 15,000.

    Question: How do the credit score and debt impact the application? I know that USCIS is currently focusing heavily on debt. Does anyone see any risk about the debt I have now?

    Thanks in advance.


  • #2
    If you don’t have any bankruptcies on your record, you’re good. Your debt will have a very low impact. I’d say you don’t need to worry about it.
    B1/B2 married to USC.

    Timeline 2020:
    3/12: Sent package to USCIS.
    3/14: Package received by USCIS.
    3/23: Checks cashed.
    3/27: NOAs received.
    8/04: Biometrics scheduled for 08/13.
    8/13: Biometrics completed.
    8/14: Online case status (I-485 & I-765) changed to fingerprints were taken.
    8/14: Ready to be scheduled for an Interview.
    9/02: I-765/I-131 approved. Status changed to “New Card Is Being Produced.”
    9/09: EAD combo card mailed.
    9/14: EAD/AP in hand.

    Comment


    • #3
      No bankruptcies. Thanks for the response, danny32.

      Comment


      • #4
        I filed my AOS with almost $400k in debt ( Mortgages, car loans and credit cards). Who told you they are focus on debt? my salary support my income to debt ratios and have plenty of equity in my homes and a decent 401k balance and 730+ credit. As long as you don't have bankruptcies, late payments.
        Last edited by Tibwa; 09-29-2020, 04:37 PM.
        05/08/20: I-485, I-765, I-131, I-944 sent to USCIS
        05/13 Rejected due to lack of I-864
        05/27 resubmitted with explanation
        06/03 Rejected again-same reason
        06/13 Resubmitted with I-864
        07/07 Lockbox emailed back and ask to resubmit
        07/09 Filings accepted with PD 05/08/20 (nice)
        08/06 Prior biometrics applied to I485
        08/28 Took biometrics for I-765 only
        09/28 I-765's Cards Ordered
        10/02 EAD/AP received
        04/12 Interview Sched
        05/11 Interview done approval on the spot but no USCIS update online

        Comment


        • #5
          Tibwa, I found few articles are saying that Trump administration is having the authorities look at debt and here is one of them Just sharing...
          Here is another one
          Last edited by ceci1073; 06-09-2021, 02:13 PM. Reason: Links

          Comment


          • #6
            Of course, they will look at your finance but as long as you have good credit scores and no past dues and collection that are current, you will be okay. a big chunk of I-944 asks for those questions. You also must the read the USCIS policy manual to understand how this items will affect your case. This is where you can get the manual
            In May 2020, USCIS retired its Adjudicator’s Field Manual (AFM), a collection of our immigration pol

            I think USCIS took off the credit score session because of the injunction that was put in place on the I-944 but the injunction is now lifted, expect to see these details back again in the manual.
            05/08/20: I-485, I-765, I-131, I-944 sent to USCIS
            05/13 Rejected due to lack of I-864
            05/27 resubmitted with explanation
            06/03 Rejected again-same reason
            06/13 Resubmitted with I-864
            07/07 Lockbox emailed back and ask to resubmit
            07/09 Filings accepted with PD 05/08/20 (nice)
            08/06 Prior biometrics applied to I485
            08/28 Took biometrics for I-765 only
            09/28 I-765's Cards Ordered
            10/02 EAD/AP received
            04/12 Interview Sched
            05/11 Interview done approval on the spot but no USCIS update online

            Comment


            • #7
              Take a look of the Part 4 ( Financial Means) of the link below and scroll down to see what they say about debt and credit score. You score is fair.

              Officers determine whether in the totality of the circumstances, after reviewing all the factors and evidence, the applicant is likely at any time to become a public charge.


              Make sure you check your credit scores from all the 3 credit bureau. You might me above 670 in one of them.

              05/08/20: I-485, I-765, I-131, I-944 sent to USCIS
              05/13 Rejected due to lack of I-864
              05/27 resubmitted with explanation
              06/03 Rejected again-same reason
              06/13 Resubmitted with I-864
              07/07 Lockbox emailed back and ask to resubmit
              07/09 Filings accepted with PD 05/08/20 (nice)
              08/06 Prior biometrics applied to I485
              08/28 Took biometrics for I-765 only
              09/28 I-765's Cards Ordered
              10/02 EAD/AP received
              04/12 Interview Sched
              05/11 Interview done approval on the spot but no USCIS update online

              Comment


              • #8
                Thanks, Tibwa. This is helpful.

                Comment


                • #9
                  Your track record inspires confidence. In fact, it's incredible how openly you've talked about it. It seems to me that if you have nothing to hide, there shouldn't be any problems. Yes, they will definitely look at your finances, but you should be fine as long as you have good credit ratings and no late payments or current fees. In any case, there is a lot of information about these things on the internet. But one way or another, you should still read the USCIS policy manual in more detail to see how these points will affect your case. But I think you'll be just fine.
                  Last edited by LazyWorld; 02-10-2022, 08:11 AM.

                  Comment


                  • #10
                    Originally posted by Woverne
                    It all depends on your credit history. It used to be way easier to get a loan several years ago. Now they are looking at your credit history very carefully and make sure that they will be able to get the money back. But if you intend to take a loan for your business, then I advise you to see if the government has any programs that offer low rates. Also, if I’m not mistaken, there was a program open for immigrants, to help them integrate easier into the community. Hope this helps!
                    I had the same problem not long ago with my credit history being bad, but I needed money and didn't have time to fix it, so I borrowed money and was approved without any problems on the same day the money was deposited into my account, so if you have credit problems, don't worry, there is always a way out!
                    Last edited by jenniferdehner; 03-14-2022, 10:55 AM.

                    Comment


                    • #11
                      IMO you should better discuss that problem with a professional advisor. The mortgage or loan can impact your life in a positive or negative way, considering you’ll be dealing with it for a long time. If you solve this issue alone, you can get some unpredictable consequences in the future, as well as after asking random people who may not be experts.

                      Comment


                      • #12
                        Originally posted by SwitchBlade View Post
                        IMO you should better discuss that problem with a professional advisor. The mortgage or loan can impact your life in a positive or negative way, considering you’ll be dealing with it for a long time. If you solve this issue alone, you can get some unpredictable consequences in the future, as well as after asking random people who may not be experts.
                        I don't remember having submitted these details when I filed for my AOS last year. Are these required still?
                        | This is my personal opinion and is not to be construed as legal advice |

                        Comment


                        • #13
                          The Form I-944 has been discontinued
                          Nov 2018 - Package sent - EB - Texas Service Center
                          Day 1 - Package received at the lockbox
                          Day 999 - Card delivered to me - Aug 2021
                          ---
                          All my posts are based on my experience or information I read on the forums or the USCIS website. I may be wrong. Please consult a professional.

                          Comment


                          • #14
                            Originally posted by Enub4 View Post
                            The Form I-944 has been discontinued
                            https://www.uscis.gov/i-944
                            That's what I thought.
                            | This is my personal opinion and is not to be construed as legal advice |

                            Comment


                            • #15
                              I can't say for sure that this is exactly what you are looking for, but if you have a bad credit score and need a good credit card, I'd recommend paying attention to the Fortiva credit card. I had this card for almost a year and a half and I never had any issues with the card or this fortiva customer service. Also, I like the wallet hub which is very good at helping monitor your credit score and improve your credit rating.
                              Last edited by BNic; 11-17-2022, 03:01 AM.

                              Comment

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