Does your credit file follow you around the world??

[deanogtv]

Considering a move to the US and wondering how it would work with my credit file with obtaining a mortgage or new car out there??

or will I need to build a new credit history out there first??

[Vaud]

You will need to build a new one. Pay utilities, etc, start with some low, high interest credit cards and build a local credit score. There are apps you can track it with.

Edit: you are looking at a year minimum before any significant loans.

[jeff m2]

To build a credit history in the States.
Go to your bank and ask for a "pass book loan"
Pay it off, do another one.
Pay your bills on time.

Get a car loan, probably at a usury type rate, take it to your bank. Ask them if they can help.
You could be surprised.
You have a car loan at better rate, and hopefully a shorter term.
Now you have 3 paid loans on your record, even though two were secured and the other settled by your bank.

[pavka007]

Buy a cheap car, get a place to stay. Get yourself a driving license asap. Get a petrol credit card at your local gas station. The limit could be as low as 100usd. Pay at the pump using the card, few days latter go back and settle the card. This will kick your credit rating build up right away. Go a month down the road go get yourself a TV, pay 60% cash and take the rest as store credit. Within 6 months you can move to better things. Obviously open bank account asap. I would advise you to consider local credit union before any bank. Much better service and after you've been with them for about a year with good standing they will help you out for mortgage, loans for the car etc. Some big name car dealers could be very helpful as well with 0%apr. Never, ever...I will repeat that never pay the window price of a car. Used cars in the range 4000/ 10000 carry at least 2 k margin.
How I know all this.. Lived and worked in the US for almost 6 years, 2 of them worked for Carl Malone Toyota

[Matt Harper]

pavka007 said:

Buy a cheap car, get a place to stay. Get yourself a driving license asap. Get a petrol credit card at your local gas station. The limit could be as low as 100usd. Pay at the pump using the card, few days latter go back and settle the card. This will kick your credit rating build up right away. Go a month down the road go get yourself a TV, pay 60% cash and take the rest as store credit. Within 6 months you can move to better things. Obviously open bank account asap. I would advise you to consider local credit union before any bank. Much better service and after you've been with them for about a year with good standing they will help you out for mortgage, loans for the car etc. Some big name car dealers could be very helpful as well with 0%apr. Never, ever...I will repeat that never pay the window price of a car. Used cars in the range 4000/ 10000 carry at least 2 k margin.
How I know all this.. Lived and worked in the US for almost 6 years, 2 of them worked for Carl Malone Toyota

Not sure how you get a gas card with no credit history - or are you referring to a pre-paid card?

Is this going to be an employment based move? You may need some help from your company regarding utilities, rent co-signs etc. They are all going to want pretty hefty deposits due to your lack of US credit history.
There is a bank-backed resource that is friendly for purchase of new European cars for ex-pats (Euro Auto Source?) PH'er Eric in CT used them and had good things to report.

[GCH]

Do you have a UK american express card?

If so, use their global transfer.
They will open a US amex for you, and backdate it to when you opened your first UK one, which gives you a decent credit score right off the bat. You can also keep the UK one open and in use - no requirement to close the account.
No SSN or anything required- just a US address & phone number, and a US bank account (again, no SSN needed to open a bank account in person) in addition to the foreign amex.



You can also get credit cards from some US banks - but you have to put down a bond in lieu of any credit history.