HSBC UK and Nova Credit have partnered on a new credit card aimed at immigrants wanting to use their international credit history.
In brief:
-Cross-border credit bureau Nova Credit, led by co-founder Misha Esipov in 2016, last year raised $10m from HSBC
-Credit history will initially only come from 12 countries: Australia, Brazil, Canada, Dominican Republic, India, Kenya, Mexico, Nigeria, Philippines, Spain, Switzerland, and the US.
-One year later, through this latest partnership, HSBC says it is the first UK bank to offer international customers to use their full credit history when applying for a credit card
What does this mean?
“Opening a credit card and building credit is an important step when setting up life in a new country. As the UK’s leading international bank, we’re excited to be able to offer customers the option to leverage credit history built up overseas to start a positive credit history in the UK on arrival,” Kejriwal said.
