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Wednesday, March 17, 2010

If I move to another country from the US will I take my credit rating with me?

or how does that work?

If I move to another country from the US will I take my credit rating with me?
You cannot take your credit with you if you move to another country. In order to open a checking account or take out a large loan you may need to find a bank that is willing to pull an international credit report. It can be done, but its costly and most banks will not do it. Most big mortgage companies will (if you ever plan on purchasing a home).





You will need to start from scratch, but that isn't always bad. You will, however, have no credit history whatsoever when you arrive in the new country.
Reply:You'll most likely have to start over from scratch. The credit bureaus in this country track you by your social security number. Other countries don't use US social security numbers. In many countries, credit is not as sophisticated as it is here.





In many countries, to open a bank account you need a letter of recommendation from your prior bank or employer. Credit is handled after building a relationship with the firm in question.
Reply:your credit rating shouldn't be affected by moving to another country. In most cases, you will be taking your US lines of credit with you anyway. Many countries follow a different monetary system, but depending on what you will doing, you can maintain you finances remotely.
Reply:i don't think you can escape it that easily


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