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How to Maintain Your U.S. Credit Score While Living Abroad

Living abroad can be an exciting adventure, but it also comes with its own set of challenges, especially when it comes to maintaining your U.S. credit score. Your credit score is crucial for various financial activities, such as renting or buying a home, setting up utilities, and qualifying for loans. Here are some essential tips to help you protect your U.S. credit score while living overseas.

1. Maintain a U.S. Address

To keep your U.S. credit cards and bank accounts active, you need a U.S. address. You can ask a relative or close friend if you can use their address for your financial accounts. Alternatively, you can use paid mail forwarding services that cater to digital nomads and expats. These services can either physically ship your mail to your foreign address or send digital copies.

2. Switch to Online Statements

Receiving your bills digitally is ideal when living abroad. It reduces the cost and hassle of receiving snail mail overseas and helps protect you from identity theft. By switching to e-statements and online account alerts, you can manage your financial life from anywhere in the world and reduce the risk of your mail getting into the wrong hands.

3. Keep Your Credit Cards Open

Regular, on-time payments for bills and debts are crucial for maintaining your U.S. credit score. Keep your U.S. credit cards open and active by setting up autopay for recurring bills or using the card for subscriptions like Netflix or Spotify. If you visit the U.S. periodically, use your card and make timely payments to keep your credit accounts active.

4. Maintain a U.S. Bank Account

Keeping your U.S. bank account open is essential for streamlining the payment of your credit card bills and other debts. It also makes it easier to receive checks from U.S. residents or payments from U.S. companies. If you plan to withdraw cash abroad, use ATMs that are part of your bank’s network to avoid hefty fees.

5. Monitor Your Accounts for Signs of Fraud

Security standards vary globally, and your sensitive data might be at risk. Turn on alerts for your credit card and bank statements, and regularly log in to review recent transactions. For added protection, sign up for free credit monitoring with Experian to receive alerts if changes are detected in your credit report.

6. Secure Your Credit Report

If you won’t be applying for new U.S. credit soon, consider adding a credit freeze to your credit reports. A credit freeze limits access to your credit report and score, providing an extra layer of protection against fraud. You can lift the freeze if you need a credit check or approval later.

The Bottom Line

Even if you don’t think you’ll need your U.S. credit reports or scores for a while, it’s still a good idea to take steps to protect them from fraud. Check your credit report and credit score for free with Experian at any time while you’re abroad to ensure you’re on the right track for your return.

For any mortgage service needs, contact O1ne Mortgage at 213-732-3074. Our team of experts is here to help you navigate your financial journey, whether you’re at home or abroad.

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