Frequently Asked Questions(FAQ)

Can I transfer my credit score if I move to another country?

In most cases, you can’t transfer your credit score from country to country. And, if you move away from the U.S., and return a few years later, you will likely see that your credit score dropped a bit while you were gone due to a lack of activity that helps with your credit history. This said, some of the credit bureaus in the U.S., such as Equifax, operate in other countries. In those cases, they may allow you to transfer over some of the information from the U.S., to help you establish creditworthiness in the new country.

What happens if my new home country does not have a credit scoring system?

More countries do not have a credit scoring system than do. So, if the country you moved to does not have a scoring system, lenders will look at other considerations in addition to your finances. They’ll look at your repayment history and employment income, even if that employment income was from another country. To help you build credit in a new country, open a new bank account and consider a secured credit card. 

How does credit work in Europe?

As discussed, many countries across the globe due not use a credit scoring system. And though the United Kingdom has a credit scoring system, most of the other countries across Europe do not. For those who live in Europe, it is common to rent property permanently and avoid taking out a mortgage or amassing debt. And, getting credit or a personal loan can be more challenging. Applications are reviewed and assessed based on your current salary and employment history, whether or not you are married or have children, current amounts owed to other lenders, residence status, and other factors. That said, making on-time payments is important across all European countries. 

About the Authors

Ann Schreiber

Written by: Ann Schreiber

Seasoned Copywriter & Content Marketer

Ann has been a marketer and a content writer for over 20 years. She worked for financial institutions such as FICO, Experian, and BlueChip Financial as a director of content and brand marketing.

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