AmEx, fintech startup expand ‘credit passport’ to Brazilian immigrants
American Express and a San Francisco-based fintech startup are offering tens of thousands of Brazilians in Massachusetts a chance to use their credit histories from their native country to build their credit in the U.S.
American Express and Nova Credit announced Tuesday the opening of eligibility for their “credit passport” to Brazil, as well as the Dominican Republic, Kenya and Nigeria. That’s in addition to Australia, Canada, India, Mexico and the United Kingdom and other countries added in the two years the companies have worked together.
“In a nutshell, we can take an immigrant who would have otherwise been rejected because they don’t have a US credit file and we’re able to get them approved and access their journey of building their own U.S. credit file,” said Misha Esipov, co-founder and CEO of Nova Credit.
By Steph Solis Digital Editor, Boston Business Journal