ukintexas

Hi everyone

We are making plans to return in 2013. Can't actually believe I'm planning that far ahead as I'm usually a "get it done now" kinda gal. Anyway, we decided to plan after lots of things came together. I'll post that stuff on another thread for those that are interested and still debating themselves.

Anywhoo, it struck me that I need to get my credit back up and running in the UK so that when we do head back and want to buy property (finances willing) that we will have a chance to secure financing.

Has anyone got any tips on this? Thought it would be a good discussion point and haven't seen it on here previously. Thanks in advance guys.

ukintexas

Seems I may have struck upon an unknown area! Perhaps any of you who have actually done the return can offer some tips, or issues that you faced when you got back?

Lorac05

Give people a chance to get to the forums so they can respond - it's barely 4 hours since you posted your original post

Anyhow I believe you really need to be in the UK to start building up a UK credit history again - unfortunately (or maybe fortunately depending on your circumstances) your US credit score does not follow you - which is a pain as my US one is excellent!!

If you held onto a UK bank account/credit card when you left originally that may help - especially if you have used it over the years. I held onto my HSBC bank account (checking and savings) over the past 22 years and used the credit card on all my visits home which therefore shows some usage. I am unsure if you can open a UK account whilst not permanently in the country however.

I know that over the past year and a half since I have been reading the forum this subject has come up a number of times - maybe plugging "credit" into the search function can pull something up for you.

sallysimmons

I believe that if you open an HSBC account in the US, any credit you have with them moves with you to the UK if you bank with them there too.

Note: this may only be for premium accounts (over $100K). I'm not sure as I haven't got that far in my planning yet. Maybe someone else knows?

pennylessinindia

I kept an old credit card on the advice of someone and make little payments on it and pay it off every month and amazingly my credit went up over the years but I did also keep on a bank account for the purpose of paying this card.
They are really getting tough on new accounts for non residents or in fact changing some accounts with the same bank.
So quite hard to open anything new but if you have an old account perhaps look to use that?

Mummy in the foothills

I have that too, the old Barclaycard is still going with a small account to pay it. But I wonder if that gives me any Credit history, Dh is on both too, so one day we will see.

beachgal21

I still have my account with HSBC. My dad, bless him gives me money for birthdays and Xmas and pays it straight into my account. I use th account on the very odd occasion but they did recently send me a new credit card which I was pleased about. That said, the account still has my mom's address on it and not my one here in the US.

ukintexas

Thanks everyone. Am going to do some research and see what I find. I'll post anything that's interesting.