Financial Question
Apr 13th 2007, 2:41 pm
#1
Here at last!
Thread Starter
Joined: Jan 2007
Location: Perth
Posts: 1,635
Financial Question
Does Australia have similar ways of checking credit as we do in the UK?
When buying a house, car, renting, applying for bank accounts etc?
Was under the impression that there isnt credit scoring like in the UK. Only asking as in this current climate in the UK we have had trouble with credit checks in the past in the UK and I am wondering if we will come up against similar problems in OZ
When buying a house, car, renting, applying for bank accounts etc?
Was under the impression that there isnt credit scoring like in the UK. Only asking as in this current climate in the UK we have had trouble with credit checks in the past in the UK and I am wondering if we will come up against similar problems in OZ
Apr 13th 2007, 7:36 pm
#2
BE Enthusiast
Joined: Apr 2007
Location: Adelaide
Posts: 318
Re: Financial Question
From what I understand - Oz credit doesn't work the same way as in the UK. Your UK credit rating def won't follow you. In general, I believe you have a good credit rating until you prove otherwise - kind of nice to start fresh without all those student moments (why pay your credit card when you can drink BEER!). And don't have to build up a credit rating as such - if you can prove you're in a full time job, you can get a mortgage.
All those who live there, feel free to tell me I'm totally wrong!
All those who live there, feel free to tell me I'm totally wrong!
Apr 13th 2007, 9:31 pm
#3
Forum Regular
Joined: Jan 2007
Posts: 122
Re: Financial Question
sounds right, your UK one is not taken into account. You will be punished more harshley if you slip up on repayments than UK, heard storeys of people being unable to get credit as they missed their credit card repayment once!!
Apr 13th 2007, 10:34 pm
#4
Timelord
Joined: May 2006
Location: Lost in space...
Posts: 2,834
Re: Financial Question
Does Australia have similar ways of checking credit as we do in the UK?
When buying a house, car, renting, applying for bank accounts etc?
Was under the impression that there isnt credit scoring like in the UK. Only asking as in this current climate in the UK we have had trouble with credit checks in the past in the UK and I am wondering if we will come up against similar problems in OZ
When buying a house, car, renting, applying for bank accounts etc?
Was under the impression that there isnt credit scoring like in the UK. Only asking as in this current climate in the UK we have had trouble with credit checks in the past in the UK and I am wondering if we will come up against similar problems in OZ
Apr 14th 2007, 7:55 am
#5
Here at last!
Thread Starter
Joined: Jan 2007
Location: Perth
Posts: 1,635
Re: Financial Question
Cheers that has settled me down a little. Our bad credit is 5 years in the past and we are still penalised for it now in the UK. I am looking forward to the fresh start.
