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5 credit mistakes expats should avoid

By Minda Zetlin

5 credit mistakes expatriates can avoid

American citizens who spend time living abroad may face some nasty financial surprises when they return home.

Even if they managed their spending responsibly while away, a lack of U.S. credit activity or a U.S. address can leave them unable to obtain new credit cards or loans. It can make it tough to open a bank account. It can even leave them vulnerable to identity theft.

“The big mistake people make is not taking care of their finances and credit,”

says Lisa R. Mitchell, an American and former banker who lives in Shanghai, teaches leadership for Berlitz, and writes a blog about expatriate financial issues.

Mitchell’s book, “Global Money Matters: A Guide to Making Smart Money Choices While Living a Global Lifestyle,” will be out in the fall.

“They’re moving, they have to put their children in school, they may have to find a job or housing. People rarely think about finance — they think because their bank is a big global bank they don’t need to worry about it. Then they return and realize they haven’t done a lot of things they should have.”

Read more: http://www.creditcards.com/credit-card-news/5-credit-mistakes-expatriates-should-avoid-1267.php#ixzz233RtrbIF
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