CRC Bureau Partners Nova Credit U.S.

Nigerians relocating to the United States can now use their international credit history to apply for credit products, following a partnership between CRC Credit Bureau and Nova Credit, a cross-border credit reporting agency.

A statement by CRC Credit Bureau said the partnership would enable creditworthy Nigerian newcomers to have access to credit opportunities previously unavailable to them because they lacked credit history in the U.S.nThe CRC Bureau officials explained that the new service, called ‘Nova Connect’ accesses data from them to enable Nigerians relocating to the US to authorise the translation of their Nigerian credit history into US-equivalent credit score in a format familiar to American underwriters. Nigerian newcomers can then apply for financial products including credit cards, loans, and more.

The officials stated that, “Credit cards are more popular in the US than in many other countries; the average American has four accounts. Today, only 10 per cent of U.S. payments worth $25 or more are paid for in cash.n“With this new opportunity, immigrants from Nigeria don’t have to start from 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 U.S. Credit score. This opportunity does not benefit those with a poor credit history in Nigeria.”

The officials said CRC Credit Bureau Limited is a private limited liability company duly incorporated and licensed under the laws of Nigeria for the purpose of delivering credit bureau services. CRC Credit Bureau is owned by 11 investors of which 10 are Nigeria’s foremost Commercial Banks and a technical partner Dun & Bradstreet, a world player with over 170 years of credit bureau experience.