What is Credit History?
01.Starting with a Blank Page
In the US, lenders, landlords, mobile providers, and even utility companies check your credit report to see if you pay bills on time. Unfortunately, foreign credit histories do not transfer. When you arrive, you have a blank credit history, which makes you look risky to lenders.
02.The Cost of No Credit
Without a credit history, you may be denied credit cards or auto loans. Landlords may require a co-signer or a larger security deposit. Cell phone companies might ask for a cash deposit. Building credit quickly is a top priority for starting your new life.
03.A 6-to-12 Month Process
Establishing your first credit score takes at least 6 months of active account reporting. By taking the right steps early, you can build a solid score within your first year in the country.