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Credit Score
Credit score is a number defining your credit worthiness based upon past loan and payment history.
As a new-comer to the country your credit score is 0. With a low credit score or no credit-score you often
won’t be able to obtain loans or get any credit e.g. at a phone company.
The easiest way to build a good and fast credit score is to lease a car. Another way to build a credit score is
to get a credit card or several credit cards, but usually you have to put down the same amount (a collateral)
with the bank before they will give you one.
The credit card companies report your payment history once a year, while the car lease companies report
your payment every month so it builds your credit score faster – payment on time is naturally imperative if you
wish to build a good credit score.
Bank Account
In the U.S. you will need to have a social security number when opening a bank account (see Social Security).
As discussed above the American banks will consider you as a totally new customer, they know nothing about
when you walk in, and therefore be very hesitant to give you a credit card unless you put down a collateral.
Even if you can prove that you have a substantial amount of assets in Denmark it will make no difference.
Therefore, equip yourself with patience before going to the bank. Expect difficulties getting credit.
If you are okay with just getting a so-called checking account and a debit-card this will be the quickest
and easiest to setup but it won’t build you a credit score.
You will need to present social security number, copy of your passport and your visa to open up any bank account.
Even with your Danish credit cards, we recommend that you at least get an American debit card as some places
don’t accept international cards, and often the gas station automates will not accept your foreign card.
Useful websites for American Banks:
Useful websites for Danish Banks:
To hear more about JGAM services check out this presentation or this brochure.
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