How does Nova Credit Work?

Nova Credit is a cross-border credit bureau. We provide lenders with overseas credit history data so they have the information they need to evaluate your application. With a consumer’s consent, Nova Credit makes a copy of the credit history from an international credit bureau, translates the data to local standards, and shares it with our partners in support of your application. Use of this service does not permanently transfer your international credit history.

As a newcomer, you may not have any credit history. Local lenders or landlords may not have enough information about your local history to make an informed decision. As a result, they may use your overseas credit data to evaluate the credit applications of immigrant or ex-pat customers.

For additional context, Nova Credit helps newcomers and other global citizens apply for financial services using their international foreign credit history from their home country. Nova Credit partners with top consumer credit bureaus globally so that newcomers can bring their credit history with them. We call this the Credit Passport®. With their consent, we share their credit history from a foreign credit bureau, translate their data into local standards, and share it with approved entities. Using that history, we may be able to help them get access to a credit card, rental property, or phone plan. If you are eligible to utilize your foreign credit history, you will be asked to provide additional information for Nova Credit to retrieve your foreign credit report from our bureau partner database. In order for Nova Credit to translate a score, Nova Credit must have a partnership where the credit data resides. You can view a list here.