To approve loans, lenders verify the borrower’s credit score. In other words, those who have never applied for a loan before or don’t have a credit card because they are new immigrants in the United States don’t have a credit history yet. Immigrants in a new country must start building a credit history from scratch. That’s why it can be difficult to access credit. Besides, the higher the credit score, the better chances of accessing a loan and receiving more favorable terms and interest rates.