Krystaltips Posted February 17, 2014 Share Posted February 17, 2014 Is it feasible to open up an account whilst still based in the UK and make regular transfers to help increase our credit rating? Apart from this, are there any other ways of getting a footing before actually moving out? Thanks in advance Quote Link to comment Share on other sites More sharing options...
boganbear Posted February 17, 2014 Share Posted February 17, 2014 Credit ratings work differently to the UK. Technically you start off with a perfect rating and then get scored downwards not the other way around. You can open an account from the Uk but there is no point sending payments until you are ready. You may have trouble getting credit cards and finance for the first 6 months until you have a salary history but such is one of the problems with moving countries. Quote Link to comment Share on other sites More sharing options...
Peach Posted February 17, 2014 Share Posted February 17, 2014 The way Australia handles credit is changing (not for the better some would say): http://au.finance.yahoo.com/news/laws-expose-credit-history-064914555.html Quote Link to comment Share on other sites More sharing options...
wrussell Posted February 17, 2014 Share Posted February 17, 2014 A finance company is an organisation that has your interest at heart. Quote Link to comment Share on other sites More sharing options...
Krystaltips Posted February 17, 2014 Author Share Posted February 17, 2014 Credit ratings work differently to the UK. Technically you start off with a perfect rating and then get scored downwards not the other way around. You can open an account from the Uk but there is no point sending payments until you are ready. You may have trouble getting credit cards and finance for the first 6 months until you have a salary history but such is one of the problems with moving countries. Ok, so that's not so bad. I thought it would be the other way round. Does using your account from the UK (making transfer's etc) actually up your credit rating though? The way Australia handles credit is changing (not for the better some would say): http://au.finance.yahoo.com/news/laws-expose-credit-history-064914555.html Interesting, looks like it will be a similar system to that of the UK, pros & cons to it, but I'm assuming this wont effect us initially until we're further down the line and have built up some actual Aus based credit history? A finance company is an organisation that has your interest at heart. That wouldn't be my definition lol! Quote Link to comment Share on other sites More sharing options...
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