I have a perfect credit score in the UK, although I have heard that this credit history will not carry over to the US. As we’re looking to buy a home, this is important.
Curious about what low cost methods there are for me to get a head start on this? I’d prefer not to take a loan out in the US and pay interest for the sake of interest, but I’m curious if there are any credit cards I can use as a non-resident.
Oh how weird, I’m from the US and moved to the UK two months ago and have been wondering the reverse question: have a great US credit score, how can I build my UK credit score up now too?
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If you have an AmEx in the UK they’ll open a US account for you after you move based on your existing relationship and new US income, but only after you move
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Initially you’ll have zero credit and no one will touch you, but you’ll be able to get a secured credit card with a couple hundred dollar limit
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Put groceries/coffee on each card, wait for the statement then pay it off in full
Give it a year and you’ll have a credit score that’s enough for a mortgage
FYI - Some banks will write a mortgage based on your overseas credit score for someone in this situation but the fees/rates will be very high compared to a domestic bank.
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I read American Express has US and UK versions and can be helpful in getting a credit history.