{"id":27419,"date":"2023-06-30T11:25:03","date_gmt":"2023-06-30T11:25:03","guid":{"rendered":"https:\/\/www.lendingstream.co.uk\/blog\/?p=27419"},"modified":"2023-09-07T12:15:43","modified_gmt":"2023-09-07T12:15:43","slug":"what-happens-to-your-credit-score-when-you-move-abroad","status":"publish","type":"post","link":"https:\/\/www.lendingstream.co.uk\/blog\/what-happens-to-your-credit-score-when-you-move-abroad\/","title":{"rendered":"What Happens To Your Credit Score When You Move Abroad?"},"content":{"rendered":"\n<p>Moving abroad from the UK can be an exciting adventure. It offers new opportunities and experiences. But it&#8217;s essential to consider the impact this move can have on your financial standing. In particular what could happen to your credit score.<\/p>\n\n\n\n<p>Credit reports and scores play a major role in your financial life. It affects your ability to secure credit, get <a href=\"https:\/\/www.lendingstream.co.uk\/loans\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>loans<\/strong><\/a>, rent a property, and beyond. Let&#8217;s talk about the effects of moving abroad on your credit score and, and ways to ensure a good credit report.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69f2a7c3c5453\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69f2a7c3c5453\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/what-happens-to-your-credit-score-when-you-move-abroad\/#moving_abroad_and_your_credit_score\" >Moving abroad and your credit score<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/what-happens-to-your-credit-score-when-you-move-abroad\/#what_happens_if_you_owe_money_in_another_country\" >What happens if you owe money in another country?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/what-happens-to-your-credit-score-when-you-move-abroad\/#1_legal_action\" >1. Legal action<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/what-happens-to-your-credit-score-when-you-move-abroad\/#2_debt_collection_agencies\" >2. Debt collection agencies<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/what-happens-to-your-credit-score-when-you-move-abroad\/#3_impact_on_your_credit_report\" >3. Impact on your credit report<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/what-happens-to-your-credit-score-when-you-move-abroad\/#how_staying_abroad_could_affect_your_credit_score\" >How staying abroad could affect your credit score?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/what-happens-to-your-credit-score-when-you-move-abroad\/#1_length_of_time_overseas\" >1. Length of time overseas<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/what-happens-to-your-credit-score-when-you-move-abroad\/#2_risk_of_falling_behind\" >2. Risk of falling behind<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/what-happens-to-your-credit-score-when-you-move-abroad\/#3_the_importance_of_your_address_history\" >3. The importance of your address history<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/what-happens-to-your-credit-score-when-you-move-abroad\/#4_credit_check_required_for_visa\" >4. Credit check required for visa<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/what-happens-to-your-credit-score-when-you-move-abroad\/#how_to_prevent_negative_impacts_on_your_credit_score_while_staying_abroad\" >How to prevent negative impacts on your credit score while staying abroad?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/what-happens-to-your-credit-score-when-you-move-abroad\/#1_stay_on_top_of_your_credit_rating\" >1. Stay on top of your credit rating<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/what-happens-to-your-credit-score-when-you-move-abroad\/#2_start_out_small\" >2. Start out small<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/what-happens-to-your-credit-score-when-you-move-abroad\/#3_keep_evidence_of_credit_scores\" >3. Keep evidence of credit scores<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/what-happens-to-your-credit-score-when-you-move-abroad\/#4_show_that_you_are_reliable\" >4. Show that you are reliable<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/what-happens-to-your-credit-score-when-you-move-abroad\/#5_keep_up_to_date_with_your_report\" >5. Keep up to date with your report<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/what-happens-to-your-credit-score-when-you-move-abroad\/#6_maintain_communication\" >6. Maintain communication<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/what-happens-to-your-credit-score-when-you-move-abroad\/#7_establish_local_credit\" >7. Establish local credit<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/what-happens-to-your-credit-score-when-you-move-abroad\/#conclusion\" >Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/what-happens-to-your-credit-score-when-you-move-abroad\/#faqs\" >FAQs<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/what-happens-to-your-credit-score-when-you-move-abroad\/#does_moving_house_affect_credit_scores\" >Does moving house affect credit scores?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/what-happens-to-your-credit-score-when-you-move-abroad\/#does_your_credit_score_transfer_when_you_move_countries\" >Does your credit score transfer when you move countries?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/what-happens-to-your-credit-score-when-you-move-abroad\/#do_authorities_check_credit_history_for_visa_applications\" >Do authorities check credit history for visa applications?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/what-happens-to-your-credit-score-when-you-move-abroad\/#should_i_keep_accounts_open_or_closed_to_reset_my_credit\" >Should I keep accounts open or closed to reset my credit?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/what-happens-to-your-credit-score-when-you-move-abroad\/#will_moving_abroad_give_me_a_bad_credit_score\" >Will moving abroad give me a bad credit score?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"moving_abroad_and_your_credit_score\"><\/span><strong>Moving abroad and your credit score<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>When you move abroad, your credit history doesn&#8217;t directly transfer to your new country of residence. Each country has its own credit reporting systems, banks, and <strong><a href=\"https:\/\/www.lendingstream.co.uk\/blog\/credit-reference-agencies\/\" target=\"_blank\" rel=\"noreferrer noopener\">credit reference agencies<\/a><\/strong>. So while you may have a <a href=\"https:\/\/www.lendingstream.co.uk\/blog\/what-is-a-good-credit-score-uk\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>good credit score<\/strong><\/a> in one country, it may not transfer when you move abroad.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"what_happens_if_you_owe_money_in_another_country\"><\/span><strong>What happens if you owe money in another country?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"532\" height=\"399\" src=\"https:\/\/www.lendingstream.co.uk\/blog\/wp-content\/uploads\/2023\/06\/What-happens-if-you-owe-money-in-another-country.jpg\" alt=\"What happens if you owe money in another country\" class=\"wp-image-27421\" srcset=\"https:\/\/www.lendingstream.co.uk\/blog\/wp-content\/uploads\/2023\/06\/What-happens-if-you-owe-money-in-another-country.jpg 532w, https:\/\/www.lendingstream.co.uk\/blog\/wp-content\/uploads\/2023\/06\/What-happens-if-you-owe-money-in-another-country-300x225.jpg 300w, https:\/\/www.lendingstream.co.uk\/blog\/wp-content\/uploads\/2023\/06\/What-happens-if-you-owe-money-in-another-country-80x60.jpg 80w, https:\/\/www.lendingstream.co.uk\/blog\/wp-content\/uploads\/2023\/06\/What-happens-if-you-owe-money-in-another-country-265x198.jpg 265w\" sizes=\"(max-width: 532px) 100vw, 532px\" \/><\/figure>\n\n\n\n<p>If you owe money in another country, addressing this issue is crucial before moving abroad. International debt recovery can be complex. Failing to settle your debts can have severe consequences on your creditworthiness. <strong>Here are some possible outcomes if you owe money in another country:<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_legal_action\"><\/span><strong>1. Legal action<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Creditors in the country where you owe money may take legal action against you to recover the debt. This can result in court proceedings, and potential enforcement measures, such as asset seizure.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_debt_collection_agencies\"><\/span><strong>2. Debt collection agencies<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Creditors may employ debt collection agencies to collect information and pursue the owed amount. These agencies specialise in recovering debts and may engage in various tactics to collect payment. They might contact you through phone calls, letters, or even visit you in person.<\/p>\n\n\n\n<p>It is important to be aware of your rights and obligations. Also, communicate with the collection agency to find a mutually acceptable resolution.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_impact_on_your_credit_report\"><\/span><strong>3. Impact on your credit report<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Failing to repay your debts in another country can have a  <a href=\"https:\/\/www.lendingstream.co.uk\/blog\/what-affects-your-credit-score\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>bad impact on your credit score<\/strong><\/a>. International credit agencies or bureaus may record your unpaid debts. If they do it could affect how lenders view your creditworthiness in that particular country.<\/p>\n\n\n\n<p>This can make it challenging to obtain credit. Loans. Or favourable interest rates in the future.<\/p>\n\n\n\n<p>If you are not able to get a loan then do give a read to our guide about <a href=\"https:\/\/www.lendingstream.co.uk\/blog\/why-cant-i-get-a-loan\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>why can\u2019t I get a loan<\/strong><\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"how_staying_abroad_could_affect_your_credit_score\"><\/span><strong>How staying abroad could affect your credit score?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"532\" height=\"399\" src=\"https:\/\/www.lendingstream.co.uk\/blog\/wp-content\/uploads\/2023\/06\/How-staying-abroad-could-affect-your-credit-score.jpg\" alt=\"How staying abroad could affect your credit score\" class=\"wp-image-27422\" srcset=\"https:\/\/www.lendingstream.co.uk\/blog\/wp-content\/uploads\/2023\/06\/How-staying-abroad-could-affect-your-credit-score.jpg 532w, https:\/\/www.lendingstream.co.uk\/blog\/wp-content\/uploads\/2023\/06\/How-staying-abroad-could-affect-your-credit-score-300x225.jpg 300w, https:\/\/www.lendingstream.co.uk\/blog\/wp-content\/uploads\/2023\/06\/How-staying-abroad-could-affect-your-credit-score-80x60.jpg 80w, https:\/\/www.lendingstream.co.uk\/blog\/wp-content\/uploads\/2023\/06\/How-staying-abroad-could-affect-your-credit-score-265x198.jpg 265w\" sizes=\"(max-width: 532px) 100vw, 532px\" \/><\/figure>\n\n\n\n<p>Staying abroad can have specific implications for your credit score. For example:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_length_of_time_overseas\"><\/span><strong>1. Length of time overseas<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Your credit history in your home country may become less relevant with time. Your score in your home country can become outdated. Or they could lose weight in determining your creditworthiness. This is in part due to credit scoring systems varying between countries.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_risk_of_falling_behind\"><\/span><strong>2. Risk of falling behind<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Staying abroad can introduce unique financial challenges. You&#8217;re in a different country. With unfamiliar expenses. Potentially limited access to your financial accounts. All of this may increase the risk of falling behind on payments.<\/p>\n\n\n\n<p>Late payments or defaults can have a negative impact on your credit score. Hence, it is crucial to stay organised. Maintain communication with your lenders or creditors to avoid any potential damage from bad credit.<\/p>\n\n\n\n<p>If you are looking about how to repay your loan early then do check our amazing guide on <a href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-pay-off-a-loan-early\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>how to pay off a loan early<\/strong><\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_the_importance_of_your_address_history\"><\/span><strong>3. The importance of your address history<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Staying abroad a for a few years can have an impact on your credit score. Particularly when it comes to your address history. Your address is an essential component of your credit profile. It changes in your address can affect how lenders and credit agencies perceive your creditworthiness.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_credit_check_required_for_visa\"><\/span><strong>4. Credit check required for visa<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A credit check may be necessary as part of the vetting process for your visa application if required. However, it will largely depend on the type of visa and the country you are applying to. If you need a visa, you must ensure that your credit history fulfils the necessary criteria.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"how_to_prevent_negative_impacts_on_your_credit_score_while_staying_abroad\"><\/span><strong>How to prevent negative impacts on your credit score while staying abroad?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Taking steps to mitigate any downward impact on your credit score while staying abroad is important. Here&#8217;s what you can do:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_stay_on_top_of_your_credit_rating\"><\/span><strong>1. Stay on top of your credit rating<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Regardless of where you live, staying on top of your repayments is crucial for maintaining a good credit score. Set up automatic payments or reminders to avoid missing any due dates and negatively impacting scores.<\/p>\n\n\n\n<p>If you have stopped using your UK bank accounts, close them as per due process and continue making regular payments.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_start_out_small\"><\/span><strong>2. Start out small<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>When you move to a new country, establishing a local credit history may take some time. Starting small can be a wise approach. Consider applying for a secure credit card. Or a small <a href=\"https:\/\/www.lendingstream.co.uk\/loans\/cash-loans\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>cash loan<\/strong><\/a>. These can help you build a positive credit history in your country.<\/p>\n\n\n\n<p>Making consistent, on-time payments will contribute to <a href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-improve-your-credit-score-in-30-days\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>improving credit scores over time<\/strong><\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_keep_evidence_of_credit_scores\"><\/span><strong>3. Keep evidence of credit scores<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Before leaving your home country, obtain a copy of your credit rating and keep it for reference. This document will serve as evidence of your credit history in the UK.<\/p>\n\n\n\n<p>You can try to present it to financial institutions with similar credit systems. Either lenders, or mortgage brokers in your new country as well. It may not guarantee recognition or acceptance. However, it can support your case and provide a starting point for discussions.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_show_that_you_are_reliable\"><\/span><strong>4. Show that you are reliable<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Aside from making regular payments, other factors can <a href=\"https:\/\/www.lendingstream.co.uk\/blog\/improve-your-credit-score\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>positively influence your score<\/strong><\/a>. Be on the electoral roll in your country. Have a stable residential address. All these can demonstrate your commitment to your new community.<\/p>\n\n\n\n<p>In turn, it will enhance your creditworthiness. Try building relationships with local institutions and using their services responsibly. It can also contribute to a positive credit rating.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_keep_up_to_date_with_your_report\"><\/span><strong>5. Keep up to date with your report<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Despite living abroad, checking your credit report regularly is important. Your credit report is compiled by a credit reference agency. Some credit reference agencies allow you to access your credit file from multiple countries.<\/p>\n\n\n\n<p>Keeping yourself updated on your credit profile enables you to detect any mistakes or inconsistencies. It also helps you take the necessary steps to fix them. Additionally, it assists you in monitoring your financial status and promptly resolving any concerns.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"6_maintain_communication\"><\/span><strong>6. Maintain communication<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Keep in touch with your lenders, creditors, and the local credit bureau. Inform them about your new address or overseas service. Provide them with updated contact and bank account information. And if you think you may have trouble making payments, contact your lender ahead of time. You can discuss other options or temporary arrangements.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"7_establish_local_credit\"><\/span><strong>7. Establish local credit<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Staying abroad for an extended period? Consider establishing a local credit profile in your stationed country. This can involve opening a local bank account. Applying for a credit card. Or taking out a short term loan until you settle.<\/p>\n\n\n\n<p>If you can build a good credit rating and history in your host country, it can help. It could offset the potential impact of being away from your home country&#8217;s credit system.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Moving abroad can be a life-changing experience, but it&#8217;s crucial to understand how it can impact your credit score. Your credit history in the UK does not automatically transfer. You can take steps to maintain a healthy profile in your country.<\/p>\n\n\n\n<p>Maintain good financial habits. Stay on top of your payments. Be patient. These will ultimately help you. Help you to navigate the complexities of credit scoring systems abroad in most countries.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"faqs\"><\/span><strong>FAQs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div id=\"rank-math-faq\" class=\"rank-math-block\">\n<div class=\"rank-math-list \">\n<div id=\"faq-question-1688124057810\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"does_moving_house_affect_credit_scores\"><\/span><strong>Does moving house affect credit scores?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Moving house itself does not directly affect your credit score. However, failing to update your address can. It may result in complications. Such as when lenders or credit reference agencies try to verify your identity.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1688124069427\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"does_your_credit_score_transfer_when_you_move_countries\"><\/span><strong>Does your credit score transfer when you move countries?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p><strong>No, your credit score does not transfer automatically when you move to countries. <\/strong>Each country has its credit system and reference agencies. This makes it necessary to build a new credit history in your new country of residence.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1688124081946\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"do_authorities_check_credit_history_for_visa_applications\"><\/span><strong>Do authorities check credit history for visa applications?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Credit history is primarily relevant for financial or credit-based visa categories. These include investor or business visas. They can require proof of funds or financial stability. Check the specific requirements of the country you are moving to understand the visa application process.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1688124090672\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"should_i_keep_accounts_open_or_closed_to_reset_my_credit\"><\/span><strong>Should I keep accounts open or closed to reset my credit?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>It depends on your circumstances. Closing UK accounts can help sever ties with your original country&#8217;s credit system and give you a fresh start. Seek advice from a financial advisor to identify a course of action for your situation.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1688124099400\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"will_moving_abroad_give_me_a_bad_credit_score\"><\/span><strong>Will moving abroad give me a bad credit score?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p><strong>No, it does not automatically give you a bad credit score.<\/strong> However, a <a href=\"https:\/\/www.lendingstream.co.uk\/blog\/bad-credit-score\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>bad credit score<\/strong><\/a> can impact on how you manage your financial obligations during and after the move.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n<p><strong>Disclaimer:<\/strong> We are not providing financial advice. These are just tips for informational purposes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Moving abroad from the UK can be an exciting adventure. It offers new opportunities and experiences. But it&#8217;s essential to consider the impact this move can have on your financial standing. In particular what could happen to your credit score. Credit reports and scores play a major role in your financial life. It affects your [&hellip;]<\/p>\n","protected":false},"author":48,"featured_media":27423,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[267],"tags":[],"class_list":["post-27419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loans"],"_links":{"self":[{"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/posts\/27419"}],"collection":[{"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/users\/48"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=27419"}],"version-history":[{"count":3,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/posts\/27419\/revisions"}],"predecessor-version":[{"id":27658,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/posts\/27419\/revisions\/27658"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/media\/27423"}],"wp:attachment":[{"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=27419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=27419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=27419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}