Did you have difficulty setting up the credit history in Japan?

[JerseyBoy]

When you relocated to Japan, did you have difficulty establishing the credit history? By "credit," I am referring to the ability to take the loans, mortgage and etc. I was told the credit scores established in other countries (such as USA, UK, and others) do not get transferred out of the country. If that is true, that would mean you could have a clean slate to start your financial history when you relocated to Japan.

 

[ArmandV]

Interesting question, although it is probably better suited in the Practical section.

 

[Mikawa Ossan]

Certain loans are impossible to get unless you have the proper visa, which is permanent resident, I believe. If you come on a temporary landing permit, don't even bother.

As far as "credit scores" are concerned, I'm no expert, but I don't think it works that way here. Or at least if it does, it must be quite different.

I have had no problem procuring credit cards or loans to buy a car, etc. Sometimes they require that you've been working for your current employer for at least one calendar year.

So in other words, it's never been an issue for me.

At this point I think it fair to add that when I say credit cards, I mean the VISA/MASTERCARD kind that you use for shopping. I do not (nor do I want) the cards that allow you withdraw cash from that credit company's machines (Aiful, Promise, etc.) I recommend staying away from those.

 

[Ewok85]

Just out of interest, where/what load did you get to purchase a car ossan? Its something I'll have to do soon, I'd rather get a loan and pay it off than save up and pay lumpsum.

 

[Mikawa Ossan]

Loans are an interesting topic. I will tell you what I did, and what I will do next time, which is different.

I got a loan from the dealer, which I know is not the best way to go. When you take out your loan, you are given the choice of how many payments you want to make to pay off this loan. Every time I have gone through this process regardless of the loan's purpose, I have been shown a chart showing:

1. Number of Payments
2. Amount of Principle
3. Amount of each individual payment
4. Total amount of interest/service charge which will be incrued

By looking at this chart, you can see exactly how the number of payments you choose effect the amount you pay on top of the principle. I chose 12 payments to keep the interest to a reasonable low.

The next time, I will go to a bank and take out a car loan. I understand that bank loans charge less in interest. I have never taken out a loan from a bank, though, so I don't know what that's like yet. I have always gone through Central Finance, which I am pretty certain doesn't operate in your neck of the woods, Ewok, and one other company, but I forget its name.

 

[-Rudel-]

Japan don't have credit scores, however I believe they do have a "black-list"

 

[ET_Fukuoka]

You pretty much need to be married to a Japanese National (or have a Japanese National cosign) to get a credit card or loan. Oh and your bad/good credit doesn't mean anything in Japan.

 

[Mikawa Ossan]

You pretty much need to be married to a Japanese National (or have a Japanese National cosign) to get a credit card or loan. Oh and your bad/good credit doesn't mean anything in Japan.

I have two credit cards, and I have received no less than 3 different loans. Anyone who has known me for any time here knows that I am painfully single.

 

[Ewok85]

I have two credit cards, and I have received no less than 3 different loans. Anyone who has known me for any time here knows that I am painfully single.

Awww, I'll give you a hug
I've got a credit card, was given it with no hassle or fuss. I did try to get one from Citibank originally but was refused outright despite them holding my money and being able to see that I am financially stable...

 

[JerseyBoy]

So, the consensus seems that your past credit history does not matter when you move to Japan. Does that mean a deadbeat can move to Japan leaving unpaid loans and credit card balances in the other country?

 

[Grandpa Frank]

Tough bunch !

Knowing how nasty collection agencies are, they would track someone down to the ends of the earth. I think they even leave their collection letters on top of peoples graves, LOL.

Uncle Frank