# credit history



## galaxy0310 (Sep 7, 2011)

does anyone know of a bank/ credit union/ money lender in u.s.a that recognises the british credit history. i have been living in virginia now for 2 years and i need to get a car loan but they want to charge me huge amounts of interest as my credit history is still not that good.

thanks


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## twostep (Apr 3, 2008)

galaxy0310 said:


> does anyone know of a bank/ credit union/ money lender in u.s.a that recognises the british credit history. i have been living in virginia now for 2 years and i need to get a car loan but they want to charge me huge amounts of interest as my credit history is still not that good.
> 
> thanks


If you have been in the US for two years your UK history is stale. Can you use something else as collateral? What do you consider "huge" and on what visa are you in the US?


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## galaxy0310 (Sep 7, 2011)

twostep said:


> If you have been in the US for two years your UK history is stale. Can you use something else as collateral? What do you consider "huge" and on what visa are you in the US?


i still have property and such like back in the u.k so i should still have credit history there i have been quoted 20-23% interest on a car loan. i have just received permanent residency. i dont own any property or such like here in the u.s so cannot use that as collateral.


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## twostep (Apr 3, 2008)

galaxy0310 said:


> i still have property and such like back in the u.k so i should still have credit history there i have been quoted 20-23% interest on a car loan. i have just received permanent residency. i dont own any property or such like here in the u.s so cannot use that as collateral.


a) Use the UK property to get a loan through a UK bank.
b) Permanent residency? Green Card I presume.
c) It sounds like you are dealing with some used car dealer doing in-house financing. Should you end up going that route - do not miss a payment. One trick of the trade is to repo the day you do.
d) Have you talked to the bankl you normally do business with?
e) UK is UK; you want to borrow money in the US.
f) Pull your credit report. I do not understand that in two years you should not have accumulated some credit through utilities/rent/small CCs. Anything negative during those two years?


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## Fatbrit (May 8, 2008)

galaxy0310 said:


> i still have property and such like back in the u.k so i should still have credit history there i have been quoted 20-23% interest on a car loan. i have just received permanent residency. i dont own any property or such like here in the u.s so cannot use that as collateral.


1/ Buy a jalopy instead -- those rates are ridiculous.

2/ Start working on your credit now so the rates are not so ridiculous next time. Secured credit card (BoA/Chase/Wells-Wachy) @ $500. Spend no more than $100 on it every month, pay off bill in full on arrival, rinse and repeat at least half a dozen times before applying for an unsecured card.


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