Plenty of international students come to the US every year for college and graduate studies. Many of them like it here and plan on staying and become productive American residents after graduation. This article is targetted toward such students.

Why is credit history important for international students?
You will be judged by your credit report regardless of your nationality. Similar to any American citizen, if your credit rating is low, you will be at an disadvantage, including:

• pay more to get mortgages, car loans, and other credit;
• be less likely to get offered a job;
• be unable to get many brokerage or bank accounts;
• pay more, perhaps much more, for insurance.

Start as early as possible
The longer you wait, the later it is that you will reach the satisfactory credit rating. The following checklist items should be done within your first semester as a student in the US:

1. Get your social security number as soon as you are eligible;
2. Open a bank account in the US;
3. Get a cell phone under your own name;
4. Have the utilities (electricity, water, phone, etc.) under your name;
5. Get a credit card (you can get one from this list of student credit cards - Citibank and Discover are known to be friendly towards international student applicants);

Tips: Many international student have credit cards from their native countries. That WILL NOT help with credit building here. It is important that you get an U.S. ISSUED credit card.

Further down the road
You should have a similar credit profile as the American counterpart in about 2 years, provide that you have paid all your bills on time and there is no derogatory comments on your credit report. At this stage, you can continue the credit building with the items listed for college students.