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| *Business questions>>>Credit Questions |
does your credit history follow you if you move out of the U.S.A.? |
Question: does your credit history follow you if you move out of the U.S.A.? Answer: The answer is an emphatic "it depends." The various credit bureaus in the US can continue to keep their records, of course, but whether that will affect a person attempting to borrow money overseas depends on their situation. Many places do not subscribe to the US credit bureaus for evaluation of credit risk of prospective borrowers. Other means of assessing credit risk may be used such as verifying of current employment and income level. This means the credit risk the lender takes may be higher and overall interest rates may be higher. Still rates may be lower than what they might pay in the US for a person with a poor credit history. It's a big world out there. The US is only a small part of it. |
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