By Kingsley Adegboye
CRC Credit Bureau has partnered Nova Credit, the premier cross-border credit reporting agency, to enable Nigerians relocating to the United States of America use their international credit history to apply for credit products.
The partnership will enable creditworthy Nigerian newcomers to have access to credit opportunities previously unavailable to them because of a lack of credit history in the U.S.
According to a statement by CRC Credit Bureau Limited, “The new service Nova Connect, accesses data from CRC Credit Bureau, to enable Nigerians relocating to the US authorize the translation of their Nigerian credit history into a US, an equivalent credit score in a format familiar to American underwriters. Nigerian newcomers can then apply for financial products including credit cards, loans, and more.
“Credit cards are more popular in the US than in many other countries. The average American has four accounts. Today, only 10 percent of US payments worth $25 or more are paid for in cash. With this new opportunity, immigrants from Nigeria don’t have to start from the scratch, and can start to benefit immediately from the credit history they built in their home country when they immigrate.
“By using their international credit history to get a credit card or other products when they arrive, Nigerians can begin to build a US credit score. This opportunity does not benefit those with a poor credit history in Nigeria”, the statement noted.
CRC Credit Bureau Limited is a private limited liability company duly incorporated and licensed under the laws of the Federal Republic of Nigeria for the purpose of delivering credit bureau services.