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Australian Credit Card!

Australian Credit Card!

Old Jun 21st 2002, 9:22 am
  #1  
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Default Australian Credit Card!

I am assuming that until I get to Oz and build up a credit rating it will be difficult, if not impossible, to get an Australian issued CC.

That being the case I will just use my UK ones till then. Most banks charge a ForEx loading fee (somewhere between 1-2.8%). I've just read about Nationwide B.S. who say that they have no loading fee with their card on foreign transactions. Is this just good advertising and they compensate by giving not as good an exchange rate?

Does anyone have any experience/views?

Al
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Old Jun 21st 2002, 12:33 pm
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Default Re: Australian Credit Card!

We were advised by The Commonwealth Bank to apply for our credit cards as soon as we activate our account at a branch upon arrival. They reckoned we should allow about two weeks for them to be issued. So we will have to use our UK ones in the meantime. Hubby and I will have separate credit cards this time round, not a joint card with me as the second user, because otherwise I will never obtain a credit rating of my own.
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Old Jun 21st 2002, 1:57 pm
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Default Re: Australian Credit Card!

Guys, do not worry. You do not need to build credit rating in Aus (it's not USA!) (however you can damage it).
Credit card (and other credit) applications considered almost solely on your ability to repay it, i.e. job is more important than anything else.
For example it is not uncommon for new migrants to get a home loan with high loan-to-value ratio without any credit history at all (even a credit card history!) - just with two well paid jobs.
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Old Jun 22nd 2002, 7:20 am
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Default Re: Australian Credit Card!

Tatiana <[email protected]> wrote in message
news:<[email protected]>...
    > Guys, do not worry. You do not need to build credit rating in Aus (it's not USA!)
    > (however you can damage it). Credit card (and other credit) applications considered
    > almost solely on your ability to repay it, i.e. job is more important than anything
    > else. For example it is not uncommon for new migrants to get a home loan with high
    > loan-to-value ratio without any credit history at all (even a credit card history!)
    > - just with two well paid jobs.

Would one be able to get an AUS credit card if their credit is bad in the US
though???????

thanks for your help
 
Old Jun 24th 2002, 6:16 am
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Default Re: Australian Credit Card!

Just to add to this, as long as you have an Australian bank account set up, you should be OK. I have been in Sydney for 9 days and I have pre-agreement letter for a home loan, an approved finance agreement for a car loan and credit cards on the way. I would suggest that you set up your Australian bank account before leaving the UK and then make an appointment to talk with a manager (in Sydney, there's a guy at the Commonwealth who does nothing but deal with people arriving from overseas). They basically do everything for you and will provide personal verbal references if need be.

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Old Jun 24th 2002, 6:38 am
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Default Re: Australian Credit Card!

I can recommend the Nationwide credit card: the effective exchange rate is about 1% - 2% better for non-Sterling transactions.

However, it can be difficult to get approved if you're not already a Nationwide customer: I ended up writing to the chairman of Nationwide before I got approved for their credit card.

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