You have the business, you have the visa, and you’re ready to start, but there’s one crucial element missing: credit. This is a reality that surprises many foreign entrepreneurs in the U.S. when they first arrive. In this country, having money in the bank isn’t enough—you need to build credit in the U.S. Credit is not only used to get a loan; it’s practically your business card. It determines whether you can rent an office, buy a car, access insurance, or even negotiate better terms with suppliers.
At first, it may seem unfair. You might think: “How is it possible that I have money, yet I can’t get approved for credit?” But that’s how the system works. In the U.S., credit history isn’t based on what you have today, but on the trust in what you can build tomorrow. Understanding this from the beginning means you’ve already won half the battle.
The starting point is putting your financial identity in order. Getting an SSN (Social Security Number) or an ITIN (Individual Taxpayer Identification Number) is crucial, as it opens the door to bank accounts and, with them, to the credit system. The next step is applying for a secured credit card. It works with a security deposit, and although it may seem limited at first, every on-time payment you make will be recorded in your favor and help boost your score.
Here’s a practical tip that never fails: always pay on time and use only a small portion of your credit line—ideally no more than 30%. It’s not about how much you spend, but about the financial discipline you demonstrate. That consistency is what will grow your credit score in the U.S. and allow banks, landlords, and suppliers to trust you.
As a foreign entrepreneur, you face a double challenge: building your personal credit and your business credit. With your EIN (Employer Identification Number), you can start building a business credit profile separate from your personal one. This is gold, because in the future it will allow you to access larger lines of credit, business loans, and even corporate cards.
What you should never do—and many try—is think that cash can replace credit. It’s also not a good idea to overextend yourself with debt just to “raise your score faster.” And very importantly, don’t mix your personal credit with your business credit, because a mistake in one can negatively affect the other.
Building credit in the U.S. is a process that requires patience. It doesn’t happen overnight, but every step you take today will become the foundation of a stronger future for you and your business. The reward is worth it: cheaper financing, trust from institutions and partners, and the peace of mind of knowing your project has real backing in one of the most competitive markets in the world.
