Credit card rejection is one of the most typical problems an immigrant faces when in the US. Be it the lack of credit history or the inaccessible international credit data, American underwriters do not allow immigrants to accomplish even simple tasks. There have been instances, wherein immigrants are exempted from getting cell phone plans, credit cards, or even leasing an apartment because of their “invisible” credit. Meaning, while you have credit in your home country, it does not get automatically transferred to the US. And therefore, you become “credit invisible”.
A one-stop solution for this humongous problem faced by immigrants on a day-to-day basis is NOVA Credit. Nova Credit is a consumer-permissioned credit bureau that ties up with credit bureaus globally and institutions including American Express, Yardi, Verizon etc, to convert international credit history into US-equivalent scores. Let us dive deeper and understand how this fintech is aiding immigrants from across the globe!