Thread: Credit when immigrating

Hi everyone, i'm new to the forum and hope I can get an answer to my question.

My wife and I are currently going through the visa process so that I can live with her in the US. I am a UK resident. I have had a pretty good credit history in the UK and obviously when I relocate to the US we will want to do all the necessary things to start having a family. E.g. buying a home and car. Will my credit history follow me to the US or am I going to have the trouble of re-establishing credit?

Thanks all

Andy

Hi Andy- first of all congrats and welcome (soon) to the USA! My understanding is that the credit reporting systems aren't shared yet, unfortunately. However, I believe some lenders can look at your foreign scores in addition to anything you have established here in the US when you go to apply for a loan. Larger banks (international) are the ones I'd start with.

You are starting brand new credit in the US. Now you probably can talk to some banks on getting loans and they may be able to use that on their decision but generally speaking, you are considered the same as a new kid trying to get a loan.

Phenixdragon is right. Unfortunately, lenders cannot currently check credit reports from other countries. Although we have Experian and Equifax in the UK, they do not currently share their information with lenders approaching Experian and Equifax in the US.

If your wife has a good credit score in the US, it may be worth applying for credit in joint names to help you establish your own credit history.