rootsie

I have my PR visa and recently activated it and am now back in the UK in time for winter, unfortunately. I intend to move to Australia permanently in November 2007. In the meantime I am trying to sort out various financial necessities and one of these is the obtaining of an Australian credit card.

As a long-standing UK customer of HSBC, some 7 years ago I also opened an HSBC Australia bank account. Unfortunately they do not seem to be at all keen on giving me a credit card, even though I recently applied in person at my HSBC bank branch in Brisbane. I do not yet have the definitive written reason for the refusal, I discovered the sad news by email, but I imagine it is because they think I pose them a financial risk!

I have an excellent credit rating in the UK, however, as I am yet to take up permanent residency, it would be fair to say that I am unlikely to have a credit history or rating in Australia. I also suspect that they are probably unhappy that I am not yet actually resident.

Does anyone know of a way of persuading HSBC to give me a credit card, or alternatively know of an Australian bank that may look more favourably upon my situation? Any advice welcome.

Thanks in anticipation.

tabby

Can't really help , it's a right pain in the Arse

We had been here 2 weeks got a home loan but couldn't get a credit card until we had 3 months of wage slips..

Work that out

rootsie

Yeah, that sounds about right, I've always wondered about the Australian banking system. Who'd believe you have to pay to withdraw your own money from an ATM after a certain amount of monthly withdrawals and no-one in their right mind would pay an annual fee for a credit card in the UK, yet all the major banks expect you to do so in Oz. Mind you, it's a small inconvenience given the undoubted pleasure of actually living there!

adam101

It is possible to open bank accounts (currrent and savings) before departure to OZ via Westpac and they will also pre-approve credit cards and mortgages before departure from the UK.

If you have any more questions, please contact the Migration Team at HiFX, alternatively email [email protected]

Bosshogg

We went out in July to validate our visa's. Whilst we were there we opened our bank accounts with Westpac. Needed our passports and driving licence if I remember correctly. We picked up a form for the credit cards whilst we were in the branch. We left $50 in the account (as it costs $5 per month) to keep it ticking over.
By the time we had returned our Handycards (cashpoint cards) and cheque books were on the doorstep. We filled in the credit card application form and sent it off with 3 months wage slips and I'm glad to say we have our credit cards.
However not strictly true as the cards are at the branch to be picked up, but the account is open and shows on our internet banking alongside the other accounts. Would highly recommend using Westpac as service to date has been great and so very easy.

rootsie

Thank you for that Bosshogg, also HiFX.

I have checked out the Westpac website and it looks favourable. I should point out though, Bosshogg, that it seems there is a 6 week time limit to pick up your credit card from the branch. Maybe worth checking this out if you are now back in the UK. I will certainly be applying to Westpac for both a current/savings account and a credit card before I return to Oz in January.

HSBC bank Australia, you have just lost my custom!

Bosshogg

Hi rootsie,
Yep thanks, I am aware of that as it clearly states that in the approval letter you receive. I've been in touch and they have made a note. At worse they just cut up the cards at the branch and you order new ones when you arrive. At least the account remains open.
Good luck with your application.