Nova Credit does not negatively impact your U.S Credit score. In fact, Nova Credit may help you create a first time U.S Credit file and U.S Credit Score by virtue of working with our partners (e.g. lenders).
The lender will generally first check with U.S. credit bureaus to see if you have enough credit information in order to underwrite you. In a U.S Credit environment and with a U.S Credit bureau you may see an inquiry from the lender in your U.S Credit report. This inquiry may also cause a 5-10 point decrease in your U.S. credit score. However relative to other factors such as on-time payments, the impact of an inquiry is generally small.
The most significant causes of score shifts tend to be factors like on-time payments and the portion of your credit you are using regularly (lower utilization rates may increase your credit score). Credit scores are likely to change over time, rising or falling depending on your financial behavior here in the U.S.
If the lender is a partner Nova Credit works with and decides your U.S file does not have enough credit information to underwrite and believes that you are a good candidate for Nova Credit, you maybe invited to complete the as an option. The Nova Credit option allows you to still apply for a credit product and get a second opportunity at approval.
Because Nova Credit enables our partners to use your international credit history to evaluate your application for credit, it may help you build a U.S. credit history if you are approved for a U.S. financial product. Receiving a U.S credit product is the first step to establishing your U.S credit history and score.