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    Stilt Team (Edited )

    To build a credit history in the U.S., you will have to most likely first move here. There is no way around it and the reason is that when lenders report your payments or credit performance to credit bureaus, they have to add your U.S. details such as address, SSN, etc.

    If you don't have a U.S. address, it'll be difficult for you to even apply for a loan.

    As soon as you move to the U.S. and get a bank account, you can start building credit history right away.

    There are a few ways you build history and get a good credit score:

    1. Apply for a secured credit card: If banks are not approving you for a card even with a smaller limit, get a secured credit card. These are credit cards that are backed with a cash deposit from you. The credit limit is equal to the amount deposited. People usually get a $1000-$3000 limit card to start with. After 6 months - 12 months, you can convert your secured card to an unsecured card. This will help you get on the right path to build a credit history.
    2. Apply for a credit builder loan: There are several companies that can give you a small loan to help you get on the grid of U.S. credit system. They may ask you to provide the deposit which they will lend to you but the good thing is that they will report it to the bureaus. This will get you started with a credit history.
    3. Get a co-signer: If you have family, relatives or close friends who can act as a cosigner for your credit product, you can piggyback on their credit history to get started. Remember that they will be liable to pay for your defaults, so make sure they know this and are comfortable with cosigning.
    4. Become an authorized user on someone else’s credit card: Another option is to become a user on a credit card of your family member or a relative. You will get all the benefits of a credit card and start building credit history but not be obligated to pay for charges.

    Doing the above will help you build a credit history.

    If you have more questions, feel free to reach out to us at team@stilt.co.

    About Stilt:

    Stilt provides loans to international students and working professionals in the U.S. (F-1, OPT, H-1B, O-1, L-1, TN visa holders) at rates lower than any other lender. Stilt is committed to helping immigrants build a better financial future.

    We take a holistic underwriting approach to determine your interest rates and make sure you get the lowest rate possible.

    Learn more about us on Wikipedia or visit us at https://www.stilt.co. If you have any questions, send us an email at team@stilt.co.

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