kpcoops

Is it possible to start building up ones credit rating prior to actually 1. obtaining a visa and 2. physically arriving in Oz?

I'm sure it isn't but thought I would ask anyway just in case.

Thanks in advance,

Kevin

Bermudashorts

No. I personally didnt find I needed a credit history either.

Clair C

Yes I'm not suggesting I need a credit history to obtain a visa. My question related to whether or not I can build up a credit before arriving in Oz.

But thank you for your reply.

Bermudashorts

And my reply was not about visa either.

No you cannot build up credit before you get here. Hope that clearer.

Brendan-Amy

So from what I can gather is, you arrive in Oz with a clean slate, no matter how bad your credit rating was in UK, is this correct?

sassie

Yes that is correct. your credit rating in the UK has no bearing in Australia. You start again from scratch.

Tramps_mate

Why do you need to build up credit?

sassie

He doesn't want to build up credit but a credit rating - all irrelevant anyway

Wendy

they don't really use credit ratings here. They check to see how much debt you have, and how much you have applied for to determine whether you are a good or bad risk.

http://www.legalaid.vic.gov.au/1768.htm

So even if you were to build up a 'credit rating' before you arrive it wouldn't mean anything anyway

chris955

Regardless of what they prefer to call it it is a credit rating. If you are a bad risk then you don't get more credit and vice versa. I cant see how it would be possible to build up a credit rating without living here though.

Wendy

Yes, you are right they do use a credit 'score' - but when people on here refer to credit rating, they are referring to how it works in the UK - it doesn't work the same though.

In the UK they don't really care how much debt you have. They go by how much profit they can make out of you. You could have 10k in credit card debt, but so long as you make the minimum monthly payment, you would get a good score and therefore get more credit

http://www.moneysavingexpert.com/loa...g-credit-score

Here, it wouldn't matter about that so much as it would that you can repay the debt. http://www.failedcreditscore.com.au/...t-scoring-work

Grayling

Do you really think it is any different here?

chris955

It really does sound exactly the same to me, just a different term of reference. It is why our level of household debt is sky high. When you apply for more credit here they check your suitability, regardless of what name they put on it they are checking your rating or score.

spottydog

You definitely don't want to build up a credit file here, only missed payments and details of borrowing limits are recorded so the bigger your credit file the less likely you are to be accepted for credit you apply for.

Lois1

How do you get the the ball rolling to become worthy of a loan, credit card etc. My cousin is 37 (lives in Uk) has never had a credit card, only a current bank account and apparently because of this she cant get a credit card as she has no credit history ??!

Whats the best route to take inititially, we have an Oz bank account which we opened last october on our reccie, are we likely to get a credit card if we apply to them?

Should we want finance to purchase a car what sort of info will be required?

Thanks