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Excellent credit rating, what will happen to it in the states?
Hi, I'm wondering when my wife a USC and I move permanently to the states, if we need to at some point will I be eligible to get a loan for anything ?
You know like for a car or whatever. My credit rating is perfect here in the UK, but will that mean anything once we have moved to the US ? |
Re: Excellent credit rating, what will happen to it in the states?
Originally Posted by Stevie P
(Post 12341806)
Hi, I'm wondering when my wife a USC and I move permanently to the states, if we need to at some point will I be eligible to get a loan for anything ?
You know like for a car or whatever. My credit rating is perfect here in the UK, but will that mean anything once we have moved to the US ? What about your USC wife? She's probably got a credit score. Car? think about international autosource/expatride and doing it in advance of leaving the UK. |
Re: Excellent credit rating, what will happen to it in the states?
As PF said you won't have one in the US. When I was car shopping Nissan offered no credit check car loans provided you earn $80k or more.
That said, I don't advise any sort of financing. :nod: |
Re: Excellent credit rating, what will happen to it in the states?
Originally Posted by tom169
(Post 12341840)
As PF said you won't have one in the US. When I was car shopping Nissan offered no credit check car loans provided you earn $80k or more.
That said, I don't advise any sort of financing. :nod: Financing/credit cards is the way to build credit history. Not sure why you would not advise it. |
Re: Excellent credit rating, what will happen to it in the states?
Originally Posted by petitefrancaise
(Post 12341835)
Your UK credit rating means nothing here in the USA. You ae starting all over again. Maybe do a search on this? It's probably in the wiki section too.
What about your USC wife? She's probably got a credit score. Car? think about international autosource/expatride and doing it in advance of leaving the UK. Never heard of autosource or expatride, I'll look into them, thanks. |
Re: Excellent credit rating, what will happen to it in the states?
Originally Posted by Stevie P
(Post 12341873)
... it was just my credit in general, and wondering where I stood. ....
I recommend International Autosource - I used them myself and while they might sound a bit "odd", in fact their bread and butter business is selling cars to US military personnel, so they are entirely legit and totally above board. |
Re: Excellent credit rating, what will happen to it in the states?
Originally Posted by petitefrancaise
(Post 12341855)
what was the interest rate like?
Financing/credit cards is the way to build credit history. Not sure why you would not advise it. But, as you say, timely loan payments to a reputable lender will have a large and positive impact on your credit score. |
Re: Excellent credit rating, what will happen to it in the states?
Originally Posted by Pulaski
(Post 12341880)
As PF and Tom said, you don't exist, and indeed cannot exist (for US credit score purposes) until you have an SSN.
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Re: Excellent credit rating, what will happen to it in the states?
If you are earning a decent salary and can prove long term employment in you area of work, you should be able to get 3% ish on a car under 5 years old. A bit higher for an older car.
Also you can build up your credit score quite quickly. It should be in the mid 700's within a year or so. Unless you miss payments. Also if you wife has old credit cards, get her to put you on as a named user. |
Re: Excellent credit rating, what will happen to it in the states?
Originally Posted by petitefrancaise
(Post 12341855)
what was the interest rate like?
Originally Posted by petitefrancaise
(Post 12341855)
Financing/credit cards is the way to build credit history. Not sure why you would not advise it.
I couldn't imagine us having $1000 p/m car payments even with good jobs to support it. Leases are even worse in how the payments are structured. Credit cards are fine for most folk who know how to pay them off entirely each month. However, there has been research that shows the brain spends more on credit card than it would on debit card. |
Re: Excellent credit rating, what will happen to it in the states?
Originally Posted by tom169
(Post 12342273)
.... Because financing cars is crippling the country. Average payments are now over $500 p/m.
I couldn't imagine us having $1000 p/m car payments even with good jobs to support it. .... |
Re: Excellent credit rating, what will happen to it in the states?
Originally Posted by tom169
(Post 12342273)
I can't remember the interest rate. It's just what the guy said when trying to get me to buy one.
Because financing cars is crippling the country. Average payments are now over $500 p/m. I couldn't imagine us having $1000 p/m car payments even with good jobs to support it. Leases are even worse in how the payments are structured. Credit cards are fine for most folk who know how to pay them off entirely each month. However, there has been research that shows the brain spends more on credit card than it would on debit card. |
Re: Excellent credit rating, what will happen to it in the states?
Originally Posted by robin1234
(Post 12342362)
..... SS plus income from their retirement accounts is never going to be enough to live on ...
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Re: Excellent credit rating, what will happen to it in the states?
Originally Posted by Pulaski
(Post 12342366)
If only they had put their monthly car payment in their 401k when they were younger. :rolleyes:
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Re: Excellent credit rating, what will happen to it in the states?
Originally Posted by robin1234
(Post 12342373)
..... it's perfectly obvious that it would make sense to stop using credit!
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