How credit score works?

If you are thinking about moving to the United States and making the American dream come true, know that a visa and ticket are not the only things you will need to structure your life. A source of income through a job or a secure loan is essential. If working in an American company is in your plans to earn income, then be aware that the requirements to accept a foreigner as an employee are very demanding.

To start your career in an American company, you need to prove that your name is clean, this means that you cannot have outstanding debts in your home country and you need to prove that you will pay for your debts in America. To prove that you are a good creditor, a credit score is required and it is possible to accumulate points through a secure loan. 

The way to get a secure loan is to look for a bank in the US that has services aimed at foreigners, but your loan will only be approved if your trip to the United States is confirmed. After getting these details right, the focus needs to be on having a good image before American banks. In this article we are going to teach you how to have a good credit score.

Credit card

Opening an account at a bank and acquiring a credit card is the most common and sought after way by foreigners to prove they are good creditors, because all you have to do is show your credit card purchase history and prove payment for all the products purchased. Credit cards are the most popular form of payment, not only in the US but all over the world.

Credit cards are so popular and it is one of the first options for locals and foreigners, but getting a credit card requires having a good credit score, which can be a problem for most Forex traders because they start with very low scores. So having a bank-approved credit card application can be a very slow and bureaucratic process for most foreigners.

Household accounts

If having a credit card is very difficult for you, as foreigners have a low level of credit score to apply for a card to the bank, you can start with your house or apartment bills, for example, not delaying the bills water, rent and electricity, household bills. If you can demonstrate that you have a good history of paying your property's bills, then your credit score will increase consecutively. 

So if your credit card application was declined do not be discouraged, focus on household bills to increase your credit, because Americans evaluate all foreigners' history, especially credit scores, so start with the basics, pay house bills without delay, this generates more trust and credibility that gradually increases your score and also its benefits.

Americans are very strict with who enters the US and who should stay in the country, so organize your move as smoothly as possible so that your credit score with Americans is high and you do not accumulate debt to the instead of paying them off. Once you have built a good image in the US and getting a credit card will be one of several achievements you'll have if you keep your credit score high.

Buying or selling and being part of the entire financial system in the country will be easier once you gain the trust not only of the banks, but of everyone who tries to do business with you. Maintaining a good credit score generates a kind of influence that moves the financial market, banks start to trust foreigners more and invest in more affordable measures of loans.