Problems You May Encounter

It can be tempting to just continue using a credit card from the country that you’re moving from. This is usually an easy option, however, it’s not always the best. Here’s why:

As a foreign student or a new immigrant in the United States, even if you have an approved credit card issued by an overseas bank, the card will be difficult to use because it doesn’t have a USA zip code. A US-based zip code is required for things like gas or online purchases. Therefore, without this information to verify your card, most transactions will likely be canceled. Although sometimes overseas credit cards can be linked to a US PayPal account to bypass the restrictions, this method can not be applied to all situations.

Additionally, if the credit card is stolen, stolen, mistakenly, or over swiped, the user shall not be responsible, but the merchant or the credit card company. For these, it’s good to have a US issued credit card.

To find out more about your FICO Score, visit Experian.

Credit popularity in the U.S.

Credit cards are much more popular in the USA than in most other nations, even higher than in China or Japan. Virtually every shop in the United States allows you to swipe your card.

Good credit helps you buy things you need

If you’re unfamiliar, a credit score is a number ranging from 300-850 that depicts your creditworthiness. It’s basically a way for lenders to evaluate whether or not you’re a trustworthy person who has the ability to pay back a loan. Your credit score is based on factors like your outstanding debt, your income, and your history of payments towards things like rent and credit cards.

When a lender looks at your credit score, they’re deciding whether or not they want to lend you money. If you have a low credit score, it shows them that you’re likely not to repay them. If you have a high credit score, it shows that you have a solid history of paying the money back. This can be the key difference in getting approved for important loans. Here are a few things that a good credit score can help you get:

  • A loan for a new house
  • A loan for a rental property
  • A car loan
  • A business loan
  • College tuition for yourself or your kids
  • A loan to start a business
  • Premium banking accounts
  • Approval on apartment rental
  • A cell phone account you preferred
  • Your work eligibility (from employment background surveys)
  • A better rate on home loan and car insurance policy,
  • Citizenship conversion

As you can see, a good credit score will positively impact your life in some pretty major categories! 

To find out more about your FICO Score, visit Experian.

Applying for a job

Lots of employers will look at their candidates’ credit history when they apply. While a good credit score won’t be the main reason that you land a job (your resume, interview, and work experience will help there) it will definitely help.

It may help improve your chances of citizenship

The government has recently made a statement that they want to see immigrants applying for citizenship who are self-sufficient. One of the best ways to show that you’re self-sufficient is by showing an exemplary credit score. 

Acting Director of the Citizenship and Immigration Services Ken Cuccinelli said in a press briefing: “We want to see people coming to this country who are self-sufficient,” he said. “That’s a core principle of the American Dream. It’s deeply embedded in our history, and particularly our history related to legal immigration.”

To find out more about your FICO Score, visit Experian.

So where do you start?

Citus Digital First Visa and Citus EDU – If there were ever a card for immigrants and international students, this is it. The entire business is focused on helping young people and newcomers access to a premium credit card product without obsessing over their credit history.

To find out more about your FICO Score, visit Experian.

Citus Card is a great tool to help build up personal credit. To learn more about Citus credit card products, please click here. 

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