Can You Check Credit Score With an ITIN Number?
Navigate the process of building and accessing your credit history when you have an ITIN instead of an SSN.
An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the Internal Revenue Service (IRS) for individuals not eligible for a Social Security Number (SSN). This nine-digit number allows individuals to comply with U.S. tax laws by reporting income and filing federal taxes. A credit score, in contrast, is a three-digit number that evaluates an individual’s creditworthiness and ability to repay loans, mortgages, or credit cards. It represents a person’s credit history, including active accounts, debt levels, and repayment patterns. Understanding how ITINs interact with the U.S. financial system regarding credit is important.
ITIN and Credit Reporting Systems
Credit reporting agencies primarily use the Social Security Number (SSN) as the unique identifier for tracking an individual’s credit history. The ITIN, while a taxpayer identification number, is not designed to function as a primary identifier for credit bureaus. This difference creates challenges when attempting to directly use an ITIN for credit checks. An ITIN itself does not generate a credit score.
Online portals, such as AnnualCreditReport.com, require an SSN for direct access to credit reports. Entering an ITIN into these systems may prevent online access. However, credit bureaus can still compile a credit history for individuals who only possess an ITIN. This occurs because credit bureaus use other identifying information, such as name, address, and date of birth, to match financial activities.
While an ITIN does not directly create a credit score, the financial activities of an ITIN holder can contribute to a credit history if reported to credit bureaus. Lenders may report account information to the three major credit bureaus: Equifax, Experian, and TransUnion.
Establishing Credit with an ITIN
Establishing a credit history is necessary before having a credit score. This process involves demonstrating responsible financial behavior over time, which is recorded by credit bureaus.
Secured credit cards are a common starting point for individuals seeking to build credit, including those with an ITIN. These cards require a cash deposit, ranging from $200 to $2,500, which serves as the credit limit. Lenders are more willing to approve applicants for secured cards because the deposit mitigates their risk, making them accessible to those with limited or no credit history. Many credit card issuers accept ITINs during the application process, allowing individuals to begin building a payment history.
Credit-builder loans offer another structured approach to establishing credit. With this type of loan, the borrowed amount is held in a locked savings account, and the borrower makes regular payments over a set period. The lender reports these consistent payments to the credit bureaus, and once the loan is fully repaid, the funds are released to the borrower. These loans are designed specifically for credit building and are available to ITIN holders.
Becoming an authorized user on an existing credit card account can also help build a credit history. If the primary cardholder has a positive credit history and the card issuer reports authorized user activity to the credit bureaus, the authorized user can benefit from that history. Confirm with the credit card issuer that they report authorized users to ensure this strategy is effective.
Some services allow for the reporting of regular payments like rent or utility bills to credit bureaus. Utilizing such services can transform timely payments into positive credit data. For larger credit products, such as auto loans or mortgages, some lenders may extend financing to ITIN holders, and their payment performance on these accounts will contribute to their credit history.
Accessing Your Credit Information as an ITIN Holder
Once credit-building activities have been undertaken, an ITIN holder can access their credit report and credit score. While online platforms like AnnualCreditReport.com require an SSN for direct digital access, ITIN holders can still obtain their credit reports. The primary method for requesting a credit report with an ITIN is through a mail-in request directly to each of the three major credit bureaus: Experian, Equifax, and TransUnion.
To initiate a mail request, individuals need to provide several documents for identity verification. These include a copy of a government-issued identification card, such as a driver’s license or state ID card. A copy of a recent utility bill or bank statement can also serve as proof of address. The request should include the individual’s full legal name, date of birth, previous addresses for the past two years, and the ITIN. After receiving the request and verifying identity, the credit bureaus will mail the credit report.
Although credit reports form the foundation for credit scores, the score is not always included with the free annual credit report. Credit scores can be obtained through various sources, including some credit card issuers, banks, or free credit score services. Some lenders or services may require additional identification beyond an ITIN for further verification when checking credit, ensuring the accuracy and security of the information.