NZ Credit

Old Feb 25th 2008, 4:30 pm
  #1  
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Smile NZ Credit

Im Planning to Move to NZ next March.

for full story goto http://britishexpats.com/forum/showthread.php?t=516563

anyway im trying to get as much info as poss of you knowledgeable guys.

Im thinking about my credit history here in UK and debts i have here.
will my credit file and score mean nothing in NZ and will i have to start again with a new one when we over there.
Also if i got no credit history in NZ will i be able to get things like CRedit cards, Current accounts, Mortgage and Etc

Any help will be good thanks.

Like to hear your advice and experiences. And be great to answer my query
Still looking for people to email to to keep in contact to help me though the process

Email:[email protected]
Msn: [email protected]
thanks
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Old Feb 25th 2008, 5:31 pm
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Default Re: NZ Credit

Originally Posted by markraynes View Post
Also if i got no credit history in NZ will i be able to get things like Credit cards, Current accounts, Mortgage and Etc.
I think you'd have not much of a problem getting set up with a bank. Really, it's not a drama. I think now you need to concentrate on the immigration side of things. Don't get ahead of yourself.

Good luck.
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Old Feb 25th 2008, 8:47 pm
  #3  
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Default Re: NZ Credit

We came on 30 month WTR Visas initially. We got a 95% mortgage within the first week and moved in at the end of the second week. They were not interested in our UK credit history. We had already opened one bank account here from the UK, but had to open another with the same bank we obtained the mortgage from. We got credit cards, eftpos cards (like switch/cash point cards). A few weeks later we realised the really cheap car we initially bought for cash was going to be useless here, needed a 4wd, so traded car in and got car loan from the garage we bought the 4wd. They didn't even ask to see wage slips, let alone require any credit history from UK.

I think it works the opposite to the UK here in that in UK you have no credit rating unless you have loans, credit cards etc. Here you start off with a good rating and that alters if you default on any borrowing. I think.

Anyway, just make sure you pay off all debts before coming as you will find it hard going trying to meet outstanding uk payments on an NZ wage as well as live. But you're credit rating there souldn't affect anything here, as far as I know.
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Old Feb 26th 2008, 12:17 am
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Default Re: NZ Credit

They don't seem to do any checks into your previous credit history in other countries, so the best thing to do is to start to build up your own when you arrive....just getting a bank account and approval for a credit card seems enough to get you started. Other than those two things and a mortgage we never had any other credit requirements in NZ (eg. interest free credit or loans) but I don't think they would've been difficult to come by.
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Old Feb 26th 2008, 12:30 pm
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Default Re: NZ Credit

thanks for that guys. big help
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