Nova Credit and American Express announced today that they will expand the companies’ successful partnership to cover more immigration corridors to the U.S. Prospective Card Members that are immigrating to the U.S. from South Korea and Switzerland.
Nova Credit and American Express announced today (8/2/2023) that they will expand the companies’ successful partnership to cover more immigration corridors to the U.S. Prospective Card Members that are immigrating to the U.S. from South Korea and Switzerland will now have the ability to easily share their international credit report with American Express when applying for a personal American Express credit card.
American Express will leverage Nova Credit’s Credit Passport® solution to instantly translate credit records from South Korea and Switzerland’s credit reporting agencies into a U.S.-equivalent credit report and score, helping the company make even more effective application decisions for those who are new-to-country. Nova Credit and American Express first began partnering on this industry-first integration in 2019. To date the partnership has helped qualified consumers from Australia, Brazil, Canada, the Dominican Republic, India, Kenya, Mexico, Nigeria and the United Kingdom gain access to credit in the U.S. With the addition of South Korea and Switzerland, American Express will be able to extend credit to more qualified customers.
According to the Migration Policy Institute, South Koreans are part of the top ten largest communities of newcomers to the U.S. Additionally, upwards of 80,000 Swiss citizens call the United States home today. By reaching these heavily represented immigrant communities, Nova Credit and American Express are enabling even more newcomers to use their international credit history to apply for personal American Express® credit cards and begin building U.S. credit history, if approved.
“Nova Credit has been a game changer when it comes to enabling applications and approvals from international newcomers to the U.S.,” said Lisa G Kalhans, SVP, New Member Acquisition, American Express. “The expansion of this partnership reaffirms our commitment to an inclusive credit ecosystem, and Nova Credit is a driving force behind that initiative.”
“American Express has been a great partner over the years in providing credit for qualified newcomers, which furthers our goal of fostering a more inclusive financial system,” said Misha Esipov, co-founder and CEO of Nova Credit. “We look forward to welcoming even more newcomers with the financial resources they need as those from South Korea and Switzerland settle in the U.S.”
Source: NovaCredit
