Bristol1983

Hi all,

My wife and I are planning a move back to the UK from the USA in the next couple of years. There's a million and one things to do, but high on our list is building up our credit score in the UK. We have an excellent credit score in America, but have found that it doesn't mean anything when applying for a mortgage in the UK.

Does anybody have experience in applying for a UK credit card from abroad? At the moment I have a decent credit score through virtue of repaying my student loan, but a credit card would make life a lot easier once we arrive back.

Thanks!

Johnboyuk

I doubt you will get a UK credit card if you are resident abroad. It is hard enough getting one when you first move back here and now that the HSBC is reducing operations in the USA, you cannot go the HSBC Premiere route. There is some useful information on this site though. It is no good trying to appeal to the better nature of your bank either as it will be a case of 'computer says no'. On saying that, when you have been here for a while, organisations will be more than happy for you to take one of their cards and extend your credit limit on a regular basis.

Getting a Credit Card as a New UK Resident - Vanquis

Lion in Winter

Those interest rates

Is it the case that credit can be established even if paying off in full every month? Because otherwise that's usury.

durham_lad

Yes, paying off the balance every month to avoid interest charges does build credit. Paying Council tax, utility bills etc also builds credit.

Our son couldn’t get a credit card when he moved back from the USA, and we added a mobile phone to our account for him. (He paid his portion). He did have a UK bank account and debit card and after 6(?) months of paying Council tax, car insurance etc he was able to get a credit card. (He was able to buy a second hand car with cash and Aviva accepted his insurance record from Geico). He also had a US credit card with no foreign transaction fees to use in an emergency but in fact managed with his debit card.

Lion in Winter

Well that's something anyway, thank you.

Bristol1983

Thanks for the replies, all. The situation is as feared. I recently remembered that I might have left a credit card open prior to leaving the UK nine years ago so I'm currently trying to organize a replacement card with the provider. It was registered to my parents current address so I'm hoping for a large amount of luck to a. have an account still open and b. be able to have a new card sent out to that address.

getoutofbritainquick

We are back in the UK and had a Premier account with HSBC for years in Canada and the UK. I applied for a Premier Account cc when I got back to the UK and was refused. I made a formal complaint stating their web sites in both Canada and the UK clearly states they will transfer your credit. Apparently it does not mean they will transfer your credit rating it only means they will open a Premier Account and despite have substantial assets with them they won’t give me one and told me to re-apply after 3 to 6 months!
Has anyone else had the same experience?

durham_lad

yes, and I’ve posted about it several times including in this thread although I didn’t specify this time that it was HSBC Premier account in both countries.

getoutofbritainquick

Taken from the UK HSBC Premier Account web site-

Moving abroad

• Open your account in your new country/region before you arrive
• If you qualify for Premier in the UK, you will be eligible in your new country/region1
• We will transfer your credit history with us
• Overseas account will be open in 10 days on receipt of completed application2
• Discover more ways our International Services can help you in your international adventures
• Guidance if you’re moving overseas with HSBC Expat

The Canadian HSBC web site says something similar. When I contacted HSBC in the UK they said that they couldn’t transfer credit history from another country? When I sent them the links from both sites they seem to avoid the question. Surely this is false advertising. Thanks

durham_lad

I completely agree. False advertising for sure.

Johnboyuk

They mean your credit history with the HSBC only which will be recorded on your account as a matter of course. That is why they use the term 'with us' which is not the best English grammar but that is typical of the banks. You have to plough through the small print and figure it out yourself. Dealing with the call centres is hopeless, they don't care. I used HSBC Canada to transfer to HSBC UK and everything went smoothly. They gave me a better exchange rate than any of the currency transfer companies. But you are in the USA?

getoutofbritainquick

It doesn’t make much sense to me. To have a Premier account you need substantial funds in the first place then for the same bank to turn you down for a credit card!!! They know your credit history with them as well so why would you need a credit check in the UK? We had a mortgage with them before we left Canada for 15 years and they would be the first to know if we had a bad credit history. The fact we had a seven figure sum in the bank account made it seem even more ridiculous.

durham_lad

I'm sure that the banks have to follow FCA rules in the UK before issuing credit cards and those rules stop banks from issuing credit cards to customers who have not been independently credit checked by authorized UK credit card bureaus.

getoutofbritainquick

Thanks for the info. The murky world of banking!!!

durham_lad

Absolutely.