International students can have many difficulties when coming to the country and attempting to establish credit. Creditworthiness in this country is based on a social security number, which means that an international student interested in maintaining credit needs to first apply for and receive a social security number. From there, they can begin building credit. However, it will often be a very difficult road.

How to Check Credit Score for International Students

International students will need to understand that they are beginning from scratch. However, they will still have the same types of credit score and credit availability as other people. This means that an international student can check their credit score the same way as another person: by buying their credit score from Transunion, Equifax, Experian or a third-party vendor. However, if they have not been working on their credit score thus far they will find that their credit score will be neutral and that their credit history simply won’t exist. This means it will be important for them to build their credit history fast if they intend to create a solid financial footing in the country. This can take a long time, however, and some international students may not wish to invest the time in a country they won’t be staying in.

How to Build Credit for International Students

Always begin with small credit cards. There are credit cards targeted specifically to students that will be forgiving of someone that does not have any credit history. These credit cards usually have high interest rates, but if they are paid off regularly they will not charge interest. Always avoid credit cards that have an annual fee.

Try to get an automobile loan. Auto financing is excellent for building credit because a dealership will finance anyone, even those with no credit who are international students. Automobile loans will show creditors that an international student is a good credit risk, and it will also have the additional bonus of providing transportation to a student who likely needs it.

Try student loans. Student auto loans are also a fast and easy way to gain a credit history.