The three most important credit records of immigrating to the United States

Americans don't have personnel files, but they have more objective and valuable moral files than personnel files, that is, credit records.

Credit records are not only related to debts, but also record a lot of important personal information, such as previous names, past and present addresses, work units, dates and judgments of going to court for traffic violations or other reasons, and the implementation of each losing case. If a person commits a crime, his criminal record is also considerable. If you have ever gone bankrupt, or your house and car have been saved by the judiciary, or you have other debts, it will also be recorded. Of course, if you have ever defaulted on water and electricity charges, or mobile phone charges, or TV and Internet charges, how many days you have defaulted will also be reflected in your personal credit record. In short, all negative information that happens to individuals will not be missed.

After immigrating to the United States, we need to pay special attention to personal credit, which mainly involves three aspects:

First, the collection and evaluation institution of personal credit information, that is, the personal credit investigation company;

Second, is it personal credit? Consumers? , financial institutions, employers and other departments;

Third, it is the producer and supervisor of personal credit information, that is, individuals.

The benign operation of these three forces has formed a developed personal credit system in the United States. For new immigrants, a good credit record is very beneficial, because it affects many aspects of life loans. If you don't have good credit, you can not only get preferential interest rates, but also get loans.

For example, for a car loan of $25,000 for the same 36 months, people with a credit score of 500-589 have to pay back 89 1 dollar per month, while those with a credit score of 720-850 only need to pay back $732. Similarly, for a 30-year, 300,000-dollar house loan, people with a credit score of 620-639 have to pay back $65,438+$0.572 every month, while those with a credit score of 760-850 only need to pay back $65,438+$0.298. Now the mortgage check is very strict, and both income and credit should be checked.

In American society, credit? Very specific, usually refers to your credit score. So, what are the important factors that affect personal credit score? How to accumulate credit points on this basis?

At present, 90% lending institutions use FICO credit scoring system. FICO's credit score is generally between 300 and 850, and FICO's score consists of five parts:

The first is the payment history, accounting for 35%. It reflects whether the money borrowed before has been returned in time;

2. Amount owed, accounting for 30%. Generally speaking, it depends on the ratio of the amount you owe to the amount of the loan;

Third, the duration of credit records, accounting for 15%. The longer the credit record, the higher the credit score; 4. The type of credit used, accounting for 10%. Your credit card, small loan, installment remittance, financial account and mortgage loan are all under consideration; 5. New credit accounts, accounting for 65,438+00%. According to the research, if you open multiple credit accounts in a short time, the risk is very high, especially in the case of short credit history. If the number of credit cards applied for in a short time is too large, it will have a negative impact on FICO's credit score. There are three major credit reporting agencies in the United States, Equifax, Experian and Transunion, which are responsible for everyone's credit evaluation. These three major credit reporting agencies are evaluated separately. On different occasions, you may evaluate the middle number as your credit score.

Living in the United States, it is not only difficult for people with zero or low credit to borrow money, but also their daily life may be affected. So it is very important to establish a credit record from scratch. The first step in establishing credit is to get a social security number. After obtaining the social security number, it is necessary to bind the social security number to the bank account and pay bills (such as utilities, rent, telephone charges, etc.). ) on time. Generally speaking, it is difficult to apply for a credit card only with the social security number. You can apply for a security card first. The more common one is WellsFargo's guaranteed credit card. This kind of credit card requires a deposit equivalent to the credit amount. For example, a credit card with $65,438+0,000 needs to provide a deposit of $65,438+0,000, and then repay it on time every month, so as to gradually accumulate credit.