Nova Credit Collaborates With HSBC To Offer Credit Cards To Immigrants Without Credit History

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Nova Credit and HSBC UK have announced a partnership that will see both firms offer credit cards to immigrants who want to use their international credit history. This groundbreaking deal and its features will be the first for any UK bank.

It also comes barely a year after Nova Credit completed a $10 million funding to expand its product offerings and operations. The funding, raised from HSBC, was led by its Co-founder, Misha Esipov.

The partnership has now led to credit card offerings to migrants with no US credit history. It will enable new customers from overseas to use their international credit history when applying for a credit card with the bank.

The Deal Is Available To Immigrants From 12 Countries

According to both parties, the credit history will be available initially to only 12 countries. These include the US, Philippines, Mexico, Switzerland, Spain, Kenya, India, Dominican Republic, Canada, Brazil, India, and Australia. The bank hopes to add more countries in the future.

Head of unsecured lending at HSBC, Madhu Kejriwal, commented on the partnership deal and its benefits to newcomers in the UK. He stated that newcomers usually face “real and unique hurdles” because their lack of credit history in the country makes it difficult to access financial services.

“Opening a credit card and building credit is an important step when setting up life in a new country,” Kejriwal stated. He added that HSBC is excited to provide several options to customers looking to settle down quickly and easily in the UK.

The bank is offering immigrants the opportunity to leverage their already established credit history overseas to access credit cards in the UK. He added that as the leading bank in the UK, HSBC is pioneering the way, offering the first such services for immigrants.

The New Service Will Help New Immigrants Settle Quickly

Before the credit card launch for immigrants, Nova Credit carried out research that showed that 66% of working-age immigrants in the UK have been having difficulties accessing credit because they have no credit history in the country. But with the introduction of this service, these delays will be a thing of the past.

The research also revealed that more than 55% of the respondents said they were not treated the same because they don’t have a UK credit history. As a result, Kejriwal said businesses need to adjust their strategies to accommodate the credit needs of immigrants, who make up nearly 100% of the UK’s population growth.


Ali is a professional journalist with experience in Web3 journalism and marketing. Ali holds a Master's degree in Finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of leading cryptocurrency publications including, CryptoSlate,,, Business2Community, BeinCrypto, and more.