Yes, you read it right. You can’t take your credit history with you, when you are moving from foreign countries (USA, UK, Australia etc.) to India or from India to US/UK. Even when same Credit Reference Agencies are operating in both countries. You need to build your credit history from scratch, if you are planning to settle in India.
Why is it so?
As per Experian – “Credit reporting laws and systems differ from nation to nation, so your credit report from the United States cannot be transferred to the UK (or India), even though Experian has credit reporting businesses in both countries.”
What is the Way Out?
If you are planning to move to India. Check bankers who have international operations including India, they may be able to transfer your U.S./ UK account to their Indian operations and begin reporting the account history there at that point.
Once you have established a credit report in India then it should be easier to open additional local accounts to further build your credit history.