Out to Perth on 457 visa - easy to get Aus credit card, car loan, etc.?
Oct 4th 2011, 12:15 pm
#31
Social Grenade Thrower
Joined: Jan 2008
Location: South Coast, NSW
Posts: 3,625
Re: Out to Perth on 457 visa - easy to get Aus credit card, car loan, etc.?
Oct 4th 2011, 3:06 pm
#32
Gutter Gob!!
Joined: Feb 2005
Location: Perth
Posts: 13,098
Re: Out to Perth on 457 visa - easy to get Aus credit card, car loan, etc.?
No longer true, can buy on a 457 without the previous requirements. You CAN get child care, I think you meant the child care rebate!! We got a credit card offered to us straight away with a 25k limit with CBA bank.
No loans though and no mortgage until PR. Had same issue with our Car Novated Lease, the lease expired 3 months before our Visa end date.
No loans though and no mortgage until PR. Had same issue with our Car Novated Lease, the lease expired 3 months before our Visa end date.
Oct 5th 2011, 3:02 am
#33
Social Grenade Thrower
Joined: Jan 2008
Location: South Coast, NSW
Posts: 3,625
Re: Out to Perth on 457 visa - easy to get Aus credit card, car loan, etc.?
Oct 6th 2011, 10:41 pm
#35
Forum Regular
Joined: Jan 2011
Location: Brisbane, Australia
Posts: 92
Re: Out to Perth on 457 visa - easy to get Aus credit card, car loan, etc.?
If you are earning over 75k then Esanda will do a car loan for someone on a 457 visa - the term of the loan though has to be less than the remaining term of your visa. GE Money will also do this as well but note the loan must be secured against the car for Esanda and GE which generally means you need to buy from a dealer or if you buy privately, the car needs to be a certain age etc.
The CBA will also do personal/car loans for those on 457 visas but only if you apply within the first 12 weeks of arriving (I know, crazy rules they changed about 9 months ago). I find it a struggle that it is their admin reason and not a credit reason that they will not approve your loan.
As above,home loans on 457 visas are available so yes you can sign up to a massive mortgage but struggle to get a credit card (although most banks would give you a $5000 credit card as part of a home loan application). The reason for providing mortgage but not a credit card or personal loan is perhaps obvious - the bank can sell a house or car to get their money back if you leave the country, but nothing to sell with an unsecured personal loan.
If you earn over 75k recommend contacting Esanda - I have had many people approved through them.
The CBA will also do personal/car loans for those on 457 visas but only if you apply within the first 12 weeks of arriving (I know, crazy rules they changed about 9 months ago). I find it a struggle that it is their admin reason and not a credit reason that they will not approve your loan.
As above,home loans on 457 visas are available so yes you can sign up to a massive mortgage but struggle to get a credit card (although most banks would give you a $5000 credit card as part of a home loan application). The reason for providing mortgage but not a credit card or personal loan is perhaps obvious - the bank can sell a house or car to get their money back if you leave the country, but nothing to sell with an unsecured personal loan.
If you earn over 75k recommend contacting Esanda - I have had many people approved through them.
Last edited by moneypenny20; Aug 15th 2012 at 10:08 am.
Oct 7th 2011, 1:56 am
#36
Social Grenade Thrower
Joined: Jan 2008
Location: South Coast, NSW
Posts: 3,625
Re: Out to Perth on 457 visa - easy to get Aus credit card, car loan, etc.?
If you are earning over 75k then Esanda will do a car loan for someone on a 457 visa - the term of the loan though has to be less than the remaining term of your visa. GE Money will also do this as well but note the loan must be secured against the car for Esanda and GE which generally means you need to buy from a dealer or if you buy privately, the car needs to be a certain age etc.
The CBA will also do personal/car loans for those on 457 visas but only if you apply within the first 12 weeks of arriving (I know, crazy rules they changed about 9 months ago). I find it a struggle that it is their admin reason and not a credit reason that they will not approve your loan.
As above, home loans on 457 visas are available so yes you can sign up to a massive mortgage but struggle to get a credit card (although most banks would give you a $5000 credit card as part of a home loan application). The reason for providing mortgage but not a credit card or personal loan is perhaps obvious - the bank can sell a house or car to get their money back if you leave the country, but nothing to sell with an unsecured personal loan.
If you earn over 75k recommend contacting Esanda - I have had many people approved through them.
The CBA will also do personal/car loans for those on 457 visas but only if you apply within the first 12 weeks of arriving (I know, crazy rules they changed about 9 months ago). I find it a struggle that it is their admin reason and not a credit reason that they will not approve your loan.
As above, home loans on 457 visas are available so yes you can sign up to a massive mortgage but struggle to get a credit card (although most banks would give you a $5000 credit card as part of a home loan application). The reason for providing mortgage but not a credit card or personal loan is perhaps obvious - the bank can sell a house or car to get their money back if you leave the country, but nothing to sell with an unsecured personal loan.
If you earn over 75k recommend contacting Esanda - I have had many people approved through them.
Last edited by moneypenny20; Aug 15th 2012 at 10:09 am.
Dec 30th 2011, 1:58 am
#37
New To Perth!
Joined: May 2011
Location: Perth, Australia
Posts: 38
Re: Out to Perth on 457 visa - easy to get Aus credit card, car loan, etc.?
The CBA will also do personal/car loans for those on 457 visas but only if you apply within the first 12 weeks of arriving (I know, crazy rules they changed about 9 months ago). I find it a struggle that it is their admin reason and not a credit reason that they will not approve your loan.
If you earn over 75k recommend contacting Esanda - I have had many people approved through them.
If you earn over 75k recommend contacting Esanda - I have had many people approved through them.
I'm still in dispute with them about how they handled my car loan application and have had to refer them to the Financial Ombudsmen for settlement as I lodged my dispute with them on 2nd September 2011 and after several phone calls they still had not even acknowledged receipt of my complaint until after a particularly unpleasant call to them on 5th December 2011. I got a letter from the FO saying there's at least three issues in my complaint that they can address. Today I was on the phone to CBA for 45mins and still didn't get very far. They don't seem to be that interested in investigating anything even with the Financial Ombudsmen on their back telling them they have to have a response to the Financial Ombudsmen by 12th January 2012 (which will eventually be transmitted to me some weeks later). Problem is, that is taking it scarily close to me being in the country 6mths which means that I'll no longer be entitled to the 3yr loan and have to go for a 2yr loan instead.
Meanwhile, I'm still trying to survive in Perth without a car. Recently had to pay a fortune to get a portable air con unit delivered to me as I didn't have my own car to just pick it up. I still need half the furniture for my apartment, like chest of drawers etc, and I don't have a car to go furniture shopping. I'm fed up of paying $150+ to hire a car for a day and I tried to hire a car for this week but couldn't find any available at all, not even at a higher price. So, I've decided to take the risk of applying for credit again through a dealership this time and I just have to accept they're going to rip me off with interest and other charges.
Dubai had the same '28 days to leave the country' rule with their sponsored visas but it wasn't difficult at all to get a car loan when I was there. Why can't it be the same here?
Dec 31st 2011, 2:03 am
#38
BE Enthusiast
Joined: Oct 2008
Location: Brisvegas
Posts: 460
Re: Out to Perth on 457 visa - easy to get Aus credit card, car loan, etc.?
The CBA are a law into themselves. after a couple of years on PR I tried to get a credit limit of 12K on my card (just so I could buy air fares home on a card) I had significantly more than that in my deposit account with them. They refused me, didn't allow me to 'preload' my credit card to up my limit so I ended up having to buy tix with cash in Flightcentre! They did, however admit to 'not updating visa status' from 457 to PR, although we had provided them with a copy of our passports at the time.
Now they're badgering me to increase my limit (to just short of what would be useful) and keep asking me if I want a mortgage. I have no idea how they lend, and I used to work in credit control in a bank (they don't care about salary - we had combined income of $170K going into our account). Perhaps it's cos I move quite regularly (every 2years) or maybe they don't like giving loans to wimmin?
Anyhow, if and when I need a loan, I'll be looking for a proper bank
Now they're badgering me to increase my limit (to just short of what would be useful) and keep asking me if I want a mortgage. I have no idea how they lend, and I used to work in credit control in a bank (they don't care about salary - we had combined income of $170K going into our account). Perhaps it's cos I move quite regularly (every 2years) or maybe they don't like giving loans to wimmin?
Anyhow, if and when I need a loan, I'll be looking for a proper bank
