05 Feb
CRC Credit Bureau Partners with Nova Credit to Transfer Credit History of Nigerian Immigrants
CRC Credit Bureau has partnered with Nova Credit, the premier cross-border credit reporting agency, to allow Nigerians relocating to the United States to 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.
The new service “Nova Connect’ accesses data from CRC Credit Bureau, to enable Nigerians relocating to the U.S. to authorize the translation of their Nigerian credit history into a U.S.-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 U.S. than in many other countries; the average American has four accounts. Today, only 10 percent of U.S. payments worth $25 or more are paid for in cash. 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.
About CRC Credit Bureau Limited
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. CRC Credit Bureau is owned by Eleven (11) investors of which Ten (10) are Nigeria’s foremost Commercial Banks and a technical partner Dun & Bradstreet, a world player with over 170 years of credit bureau experience.
CRC Credit Bureau provides a nationwide repository on credit profiles of corporate entities as well as consumers, thus improving the ability of credit providers and borrowers to make informed lending and borrowing decisions. The bureau’s database covers the credit industry which includes commercial banks, non-bank institutions, retailers, utility service providers, and fintech. Visit https://www.crccreditbureau.com/ for more information.
ABOUT NOVA CREDIT
Nova Credit is the premier cross-border credit reporting agency. Lack of a domestic credit history keeps millions of immigrants in the United States from realizing their dreams. Award-winning fintech Nova Credit helps newcomers and other global citizens apply for financial services using their international credit history from countries including Australia, Brazil, Canada, India, Mexico, Nigeria, South Korea, and the UK. Nova Credit translates international credit data into a U.S.-equivalent score and report in a format familiar to American underwriters, who use it to evaluate applications for credit products. Founded by immigrants, the firm has a diverse team from around the globe who are creating a world beyond borders to help newcomers arrive and thrive. Learn more at www.novacredit.com
