Lucinda

My husband moved here from Scotland when we got married in October, 2000. He has been
shopping around for a car and has been having difficulty getting loan because his
credit history is so short (he has a couple of credit cards and that's it). He has an
excellent income and would easily make the payments. He has a great credit rating in
Britain but has no way to prove
it. Is there really no way that creditors can get British credit reports?

I am NOT interesting in co-signing on the loan so that the loan is jointly in our
names (I don't want it on my credit report). Also, I want to avoid acting as a
guarantor. Has anyone been able to get a loan solely in their own name with such a
short credit history? If so, who was the creditor?

Thanks for your help, Lucinda

S.M.

why do you not want it on your credit report? Surely this is no harm since you are
married now?
S.M.

S.M.

Try this url or see below for response to similar question
S.M.

I moved from Australia 18 months ago and had a similar problem. I asked around and
found no way of proving my credit. This is really irritating as I had excellent
credit there and went back to nothing.

I was told to do the following to establish credit ASAP.

1) Open a secured credit card with your bank.
2) Open a charge card at major department stores like Bon Marche, Sears etc. An
Aussie credit card is fine as backing on that.
3) Add name to all utilities.
4) Add name to joint loan (if someone with ok credit can help).

If you pay the bills on time this should get your credit rating going as soon as
anything. Of course, salary etc stuff is also useful

I found the same problem in terms of car insurance. Although I have had a drivers
license for 18 years and never claimed on my auto insurance, I went back to an
absolutely unrated driver paying premium rates when I got my US license. It is
really unfair.

Good luck

S.M.

url:

http://groups.google.com/groups?hl=e...8dee6.02072007
59.268a8f7a%40posting.google.com&rnum=3&prev=/groups%3Fq%3Dcredit%2Bhistory%
2Bgroup:alt.visa.us.marriage-based%26hl%3Den%26lr%3D%26ie%3DUTF-8%26scoring%
3Dd%26selm%3D8738dee6.0207200759.268a8f7a%2540post ing.google.com%26rnum%3D3

S.M.

url shortened to http://tinyurl.com/xh4

"S.M." <[email protected]> wrote in message news:[email protected]...
    > url:
    >
    >
http://groups.google.com/groups?hl=e...8dee6.02072007
    >
59.268a8f7a%40posting.google.com&rnum=3&prev=/groups%3Fq%3Dcredit%2Bhistory%
    >
2Bgroup:alt.visa.us.marriage-based%26hl%3Den%26lr%3D%26ie%3DUTF-8%26scoring%
    >
3Dd%26selm%3D8738dee6.0207200759.268a8f7a%2540post ing.google.com%26rnum%3D3

L D Jones

Lucinda wrote:
    >
    > My husband moved here from Scotland when we got married in October, 2000. He has
    > been shopping around for a car and has been having difficulty getting loan because
    > his credit history is so short (he has a couple of credit cards and that's it). He
    > has an excellent income and would easily make the payments. He has a great credit
    > rating in Britain but has no way to prove
    > it. Is there really no way that creditors can get British credit reports?

My wife is also from the UK and spoke to at least one US credit card company (several
times) and other organisations during her research on US credit. The answer seems to
be that there is no way to get US creditors to examine British credit reports. They
simply don't care how good one's non-US credit is. You could try to get the actual
report from Equifax (or similar) in the UK but it is doubtful to me that anyone would
even want to see it.

Shannon

My husband and I co-signed a loan as it provided the only immediate way to avoid ursurous interest and terms.

By the way, a car loan only makes a HIT on your credit in the first three - four months - the loan inquiry and initial loan.

Once you (actually, your DH) have made those payments the loan will IMPROVE your credit as it is evidence of your ability to pay.

We have found a great improvement in our (my and HIS) credit 5 months into the loan

Shannon

Rete

My Canadian husband arrived here in 1998 and didn't start working until mid 1999. He was able to obtain a car loan based only on his US credit history (which was nil because he has no credit cards in the US) in February of 2000. It was with Chase Automotive Finance and it was obtained through the dealership. You are able btw to "chew" them down in interest rate quoted. Both Jim and I did that. Him in 2000 and me in 2001 with another dealership (different manufacturer) but same finance company.

I did not co-sign his. I refused just as you do because I want him to obtain the loan based only his ability to repay the loan and the history to be in his name.

Rete

Koshi

I was in the same boat three years ago. I started shopping for a car immediately
after my arrival from Japan but could not find a lender for a couple of weeks. I was
in the US on a diplomat visa and posted at a diplomatic mission in LA. It seemed
they only cared about my credit history, which I did not have back then. I ended up
buying a new car from a Korean merchant and getting a loan from a Korean bank. The
rate was a couple of percentage points higher than the going rate, though. Check
with several car retail businesses owned by recent immigrants. They should know
banks your husband can use.

Sincerely,

Koshi

"Lucinda" <[email protected]> wrote in message
news:[email protected]...
    > My husband moved here from Scotland when we got married in October, 2000. He has
    > been shopping around for a car and has been having difficulty
getting
    > loan because his credit history is so short (he has a couple of credit
cards
    > and that's it). He has an excellent income and would easily make the payments. He
    > has a great credit rating in Britain but has no way to prove
    > it. Is there really no way that creditors can get British credit reports?
    >
    > I am NOT interesting in co-signing on the loan so that the loan is jointly in our
    > names (I don't want it on my credit report). Also, I want to avoid acting as a
    > guarantor. Has anyone been able to get a loan solely in their own name with such a
    > short credit history? If so, who was the creditor?
    >
    > Thanks for your help, Lucinda

Andy Platt

"Rete" <[email protected]> wrote:

    > I did not co-sign his. I refused just as you do because I want him to obtain the
    > loan based only his ability to repay the loan and the history to be in his name.

My mortgage broker told me that it made no difference to your credit history if
someone co-signed on a loan. The credit report would show the same information as if
you had got the credit on your own. I know us consumers don't see the same
information on our personal credit reports that the credit companies do but that's
certainly how it appeared on the credit reports I've had in my time.

Andy.

--
I'm not really here - it's just your warped imagination.

Rete

Sorry by co-sign I mean a loan in both our names not as me as the guarantor if he defaulted.

Rete

Bob Green

If you live in an area tha has international television programming, such as Japanese
or Indian, the local car dealers that advertise there often have clients who are
immigrants or non-immigrant workers who have that problem.

Those companies understand about the credit issue for credit worthy people from a
foreign country and may be able to help you.

In the SF bay area, there is a Toyota, BMW and Honda Dealer that usually include some
message about that on their Japanese advertisements. Also, some leases are available
for foreign workers in the US.

Hope that helps.

Bob In article <[email protected]>, "Lucinda"
<[email protected]> wrote:

    > My husband moved here from Scotland when we got married in October, 2000. He has
    > been shopping around for a car and has been having difficulty getting loan because
    > his credit history is so short (he has a couple of credit cards and that's it). He
    > has an excellent income and would easily make the payments. He has a great credit
    > rating in Britain but has no way to prove
    > it. Is there really no way that creditors can get British credit reports?
    >
    > I am NOT interesting in co-signing on the loan so that the loan is jointly in our
    > names (I don't want it on my credit report). Also, I want to avoid acting as a
    > guarantor. Has anyone been able to get a loan solely in their own name with such a
    > short credit history? If so, who was the creditor?
    >
    > Thanks for your help, Lucinda

Mrtravel

Rete wrote:
    >
    > Sorry by co-sign I mean a loan in both our names not as me as the guarantor if he
    > defaulted.
    >

If the loan is in both names, aren't both people responsible? Otherwise, why would
both names be on the load?

Andy Platt

It's the same thing.

Andy.

--
I'm not really here - it's just your warped imagination. "Rete"
<[email protected]> wrote in message news:[email protected]...
    > Sorry by co-sign I mean a loan in both our names not as me as the guarantor if he
    > defaulted.
    > Rete
    > --
    > Posted via http://britishexpats.com

Ameriscot

British credit reports are different to American ones in that they note only bad credit, and give no indication of credit worthiness. The system in the UK to prove your credit worthiness is a letter from your bank manager.

I think if your DH is still having trouble getting credit (and almost 2 years sounds like a long time for this), he should first get copies of his credit files (these are free when you have been rejected), to make sure they are accurate.

If lack of history is his only problem, then he may want to arrange a loan through his bank, rather than through a car dealer. If he speaks face-to-face with a loan officer, he should have a greater chance of success than trying to meet the criteria of the computer programs the car dealers use.