[madwife2002]

When us Brits get together the most frustrating thing we all agree on is how to get credit-now at home in the Uk it is not that important as here in the US because everything and I mean everything is credit scored from the expected to the unexpected.

So a good way to get a credit score started is by getting a loan or a credit card-not simple you havent got a score so you wont get either of these. NOw there is a way round this and it is simple.

Whilst you are in the UK living and working apply for an American Express card-do two applications if you are a husband and wife team. Spend on it and pay it off each month.

When you arrive here in the US-phone American Express here and apply over the phone for a US AMEX Card-you will get a credit limit of around $5000 straight away. Then do the same as I advised early use it and pay it off each month. This will build up your credit score.

You should also get either a car loan or a lease car this will also build up your credit (even if you can buy a car for cash dont). You will pay higher interest rates but you have to look at the bigger picture.

Keep doing both of these and after six months you will be in a better position regarding your credit score-then after a year you can refinance at lower rates.

My husband never applied for his AMEX until August, he is self employed and he has no credit score as yet!!!!!!!!

Now any Brits who have good suggestions and advice please post to help those who follow

[apriljan]

I agree with madwife. We did exactly that. You don't realise how important it is until you get here.

[cariad]

OGP nurses do get help,,,,,,believe it or not !!!
they have an agreement with bank of america who will give employees a loan for a car and a credit card for aroumd $5,000. our bank also gave us one for $500, which was peanuts but we used it each month and paid it off, which showed that we were a good credit risk. apparently we have been told to have credit cards but keep the spending on them low and keep at least 50% credit at all times clear on them. it shows that they will give you the credit but you dont need to use it. its completely opposite to the uk.
you can get a motrgage with your uk credit, we brought an experian report and then when we got a mortgage 3 months after landing in the us, we had to arrange to get an up to date one.

[topscot]

My husband and i both have Amex cards here in the UK and i have spoken to them and they will change them over to American ones when we move, they will also transfer your balance if you need, we have bought a car from a company called autosource recommended by OGP and they have got us finance which will go towards our credit score also they will set us up with competitive car insurance which we can pay monthly

[Clarecartwright]

Qucik question

I have an lloyds tsb credit card with my bank which is through American Express - does this count or does it have too be throught Am Ex directly

Thanks for the info

[Silverdragon102]

Originally Posted by Clarecartwright

Qucik question

I have an lloyds tsb credit card with my bank which is through American Express - does this count or does it have too be throught Am Ex directly

Thanks for the info

sure it has to be american express direct

[Clarecartwright]

Thanks for that

[ann h]

Not quite on the same lines but might help people with regard to money.
When we sold our house we used
Foreign exchange and currency rates from Halo Financial - The guiding light in foreign exchange
to change money to $s they give a good rate of exchange.
Now money in in $s in an offshore account
Nationwide International Limited - secure offshore savings accounts at competitive rates (Isle of Man)
interest 4.90%
Not going to buy another house in FL until we arrive
We have had an American Express card for a good year now and I always spend and pay off balance every month.
You will have to pay deposit for water, electric etc but will get them back after a year or two if I can remember.

[english_nurse]

here is a link to an excellent article about finance and credit
BritishExpats - Credit & Finance Problems for Brits in the USA

[madwife2002]

Originally Posted by english_nurse

here is a link to an excellent article about finance and credit
BritishExpats - Credit & Finance Problems for Brits in the USA

Great link