More than 100 million Americans have a low or no credit score. These Americans are either locked out of the traditional finance system or pay higher fees and interest rates for access to credit. Additionally, they often pay more for insurance and other services.

It may be possible to live without credit if you aren't already borrowing through student loans, a mortgage or other debt. Even so, living credit-free can be very difficult. Tasks such as finding an apartment or financing a car can become challenging obstacles without credit.

A credit limit is the maximum amount you can spend on a credit card. When comparing credit cards, you may see credit limits presented as a range that spans the minimum and maximum limits available. A minimum credit limit is the lowest amount of credit available for a specific card.

The best way to maintain your credit while living abroad is to continue using your U.S. credit cards. However, to keep your existing cards, and to maintain your U.S. bank account or other financial accounts, you need a U.S. address.

Things like applying for a SSN or ITIN, opening a bank account, and applying for a credit card are critical first steps in beginning to build a credit history in the U.S. Practicing good financial habits like paying bills on time and only applying for the credit you need can help build your scores over time.

Banks decide your credit limit based on several factors, including your income, expenses, and credit history. Hence, your credit card eligibility is critical in determining your card limits. To compensate for their lenient criteria, banks typically offer lower credit limits and higher finance charges.

$300 So if you have a $1,000 credit limit, your balance during the month should be less than $300, which gives you a 30% ratio.

An address in the United States Before you begin your first U.S. credit card application, you will need to have a U.S. mailing address.

Although your credit history may not follow you when you move abroad, any debts you owe will remain active. It will be difficult for lenders to take legal action against you if you're living in a new country, but it is not impossible for them to try and recoup the debt.

Building Credit Abroad Make regular purchases and pay the bills promptly to start building a credit history there. Be prepared that if you return to the U.S., your U.S. credit score will apply to any lending decisions. So, it's important you continue to pay your U.S. debts on time, even if you live abroad.

Some credit card companies may accept applications from immigrants without a Social Security number, but those cards may require an Individual Taxpayer Identification Number (ITIN.) Immigrants who don't qualify for a standard credit card may be eligible for a secured credit card or a student credit card.

According to the Consumer Financial Protection Bureau, experts recommend keeping your credit utilization below 30% of your available credit. So if your only line of credit is a credit card with a $2,000 limit, that would mean keeping your balance below $600.