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How to transfer your credit score

How to transfer your credit score

Newcomers to the United States used to have to build credit from scratch — now they can transfer their international credit report to the U.S. to apply for credit cards, loans, housing and more.

The Problem: Credit history used to stop at the border—until now

It used to be that a newcomer to the United States couldn’t “bring” their credit report or international credit score with them. Even someone with extensive credit in their prior home country would have to take on the onerous task of building her U.S. credit history back to its previous levels from scratch, which can take as long as five years.

The implications for newcomers in the U.S. are enormous: even the most basic tasks such as getting a credit card, leasing an apartment, and getting a cell phone plan or student loan all require a U.S. credit score. Which means that you need credit to get credit, yet you lose your credit score when you arrive.

Why? The underlying issue is that banks and credit bureaus previously didn’t have the technology to interpret different credit scoring models from systems from around the world.

New: Use your international credit report to apply for U.S. credit cards and more

Here’s the good news: Nova Credit has built technology to translate credit data from countries like Australia, Canada, India, Mexico, the UK and more into a U.S.-equivalent score that newcomers can elect to share with U.S. companies when they apply for credit products here.

This means that newcomers to the U.S. can now apply for credit cards, apartments, loans and other credit products by using their international credit history. Once you use your international credit history to get a credit card or other credit product here, you can start to build a U.S. score. Is your credit score international? Yes.

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3 Comments
Mohit· Oct 16, 23:25
It indeed is a very good service that Nova Credit is offering and I tried it a couple of months ago when I moved here. I noticed even though it does transfer and prepare a international credit report, organisations here have a tough time recognising it. I was trying to lease a car and dealerships could not take into consideration this report. Even with a high international credit score American Express refused to issue a credit card. I’m not discouraging in anyway but just sharing a recent feedback so cannot rely on this completely.
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Nova· Oct 22, 19:59

Hi Mohit! We’re happy to hear that you tried our service. We’d like to look into the challenges you experienced during your application for an American Express card. Could you please email us with more details at info@novacredit.com? Regarding car rentals, our auto loan partner is currently Lendbuzz. You can learn more about how to apply for an auto loan using your Indian credit history at lendbuzz.com/?source=nova

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Ajith· Oct 18, 16:31

Best credit card to get for newcomers would be the discover credit card who give you credit cards with no prior credit score. You just need your ssn. CHECK OUT THIS ARTICLE FOR MORE thecreditnomad.com/discover-it-cashba

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Mohit· Oct 22, 19:59
I agree, this worked for me too!
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Nova· Oct 22, 20:10

Mohit and Ajith, Deserve is a Nova Credit partner! They offer secured cards for newcomers to the U.S. If you’re looking for a credit card, you can explore Nova Credit-enabled offerings for Indian newcomers by visiting our website and clicking “Explore Credit Cards”

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Ashwin· Oct 20, 11:01
You'll be extremely lucky if you have an American Express credit card in your home country. They have the option of directly transferring your credit history to US to give you. But of course you'll only get an Amex here. I did that and was quite satisfited. However if there is a way to transfer your credit score in general, that would be the best thing!
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Nova· Oct 22, 20:14
Hi Ashwin! We offer credit cards and secured cards for Indian newcomers, but you can also access a variety of other products via our website including student loans and auto loans. You can also ask prospective landlords if they uss Yardi, Intellirent or First Advantage, three major tenant screening platforms that have partnered with Nova Credit to access international credit history from India and other countries.
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