GarryP

Having been to the expo at the weekend, and questioned the banks represented, it seems they are even more a bunch of ***** than their UK counterparts.

In particular I can foresee an issue over credit cards. With no credit history bought across it seems hard work to get a card, particularly since when you you first arrive you have no job. From a friend in Aus it seems as if credit cards are as vital as they are in the UK - which makes it doubly difficult to do without. I don't want to be using the UK card all the time either. Any suggestions?

Also the banks seem to lack in the customer service front - and monthly fees don't help. Looking around HSBC in Aus seem to be closest to acceptable in their makeup - are there any obvious problems or issues, in setting up the account or operating it in Aus? Anyone gone that route with a First Direct account?

The Bloke

Too true, too true!

zultan

I don't think I can post a link, as I'm a newb. But Amex will allow you to open a credit card in Australia based on your UK credit history (you need to have an account in the UK as well). Google American Express Global Card Transfer - I can PM the link if you want it, my post disappears if I try and add it here.

WillBlack

Err, Reserve Bank of Australia notes and Australian Mint coins???

ponyrama

I opened a current account with Westpac over the net before I arrived in Oz - then two days after I got there I went to see a migrant banking advisor who sorted out my cards which were delivered to my local branch a week later, approved me for a credit card there and then, which also was delivered to the most convenient branch location for collection, and gave me lots of good advice about getting a mortgage when I was ready, how to make sure I got a good deal with my superannuation and contact details for free advice consultations on just about every financial topic I could think of. And all this without a confirmed residential address or any proof of income. Cant grumble at that.

copa

You may find you'll be given a card ... but with a very low credit limit.

Lord_Farquar

Yep. We are with Westpac. Our combined earnings are nearly $200k. Yet the biggest limit Westpac will allow us is $4000!

NickyC

The lack of credit history will not make an iota of difference to whether you get a credit card. Having no credit history is just as good as having a fantastic credit history (ie. there's nothing bad listed). You will not be disadvantaged by your lack of a local Credit history. It does not work the same way here that it does in the UK.

The main issue that would affect you getting a credit card is a lack of a job. However if you bring over a reasonable sum of money, the bank you deposit this cash with will probably give you a card. Most new arrivals seem to get credit cards pretty easily.

comet555

That's shocking! When we arrived we just got the debit/mastercard deal because we didn't have a history. That suited us just fine.

About 6 months later we applied for a credit card. Westpac gave us a $30,000 limit (way more than we wanted or needed) on one income that at the time was less than you stated in your post. We applied for a Altitude Gold card.

Lord_Farquar

Bloody Westpac!

I was on holiday last week and need some extra funds and asked them for an increase and they wouldn't do it!! I am seriously thinking of taking my business elsewhere.

ABCDiamond

It's obvioulsy only the low income earners that get the high credit limits then

You have 3 times our income, we have 4 times your card limits

comet555

We got our cards in about Febuary 2008 before the whole GFC set in. Did you get your card fairly recently? Perhaps the banks have been a lot stricter in their limits lately.

I would just call the bank again and tell them if you don't get a higher limit you're going elsewhere. That credit limit is ridiculous for someone on your incomes.

ABCDiamond

Many of the banks are now doing no monthly fee accounts.

Almost anyone can get a Visa or Mastercard Debit card, so you have card use with your own money. A "credit" card is not vital, unless you "need" credit.

With HSBC, it is cheaper to set it up direct in Australia, once you arrive, as the HSBC UK now charge £100 to set it up for you from there.

NickyC

Credit limits are usually worked out based on what you can afford to repay.

Someone on a high income might also have six kids and high outgoings leaving very little spare cash to service a credit card.

Someone on a low income might have low outgoings and therefore have more spare cash.

You can't automatically assume that the higher the income, the greater the credit limit. It's totally down to the applicant's individual situation.

Lord_Farquar

His assumptions were correct for me. I have no Kids, no mortgage, low outgoings, lots of spare cash. So why should I have such a low limit?