- American Express (NYSE:AXP +1.5%) and Nova Credit team up to offer prospective card members the ability to share their international credit reports with American Express when applying for a U.S. personal card.
- The feature can now access to credit reports from Australia, Canada, India, Mexico, and the U.K. and will be made available to more countries over time.
- The partnership may make it easier for new arrivals access to credit without having to establish a new credit history in the U.S., American Express said.
- Nova Credit's Credit Passport technology enable credit records from certain international credit reporting agencies to be instantly translated into a U.S.-equivalent credit reports and score during the online card application process.
- The credit report is used as an additional data point in American Express’s underwriting model to make an instant decision about an applicant’s creditworthiness.