Search the Community

Hello everyone! I am having a bit of a problem with my UK based credit card - I have fallen into the usual trap of intending to pay it all off before the special 0% rate ended - and failed. I am on a residence visa but have only been here since January. I have a good credit rating in the UK - don't know if that makes any difference here? I am not eligible for another UK based credit card b ecause I don't live there but also it seems I can't transfer a UK balance to an Australian credit card. I am supporting 2 people on my modest salary so I can't afford to pay it off quickly and I owe about 3000 pounds. In the mean time the interest rate on my debt is now 27% and within a few months we will have to go home because it will be so extortionate we wont' be able to afford to live. Help! Any suggestions? Rachel

Hello, can anyone recommend a particular credit card, or would it be best to keep using our UK ones, with their 2.5 surcharge? My husband arrived in Sydney two weeks ago and now wants to book a flight back home for Christmas. The NAB have authorised him a card, but the credit limit will only just cover his ticket costs. Thanks, Kathy

With the way things are more and more people are using credit cards for day to day living, I just wondered what the maximum debt you have ever had on a credit card is, please don't worry the poll is private.

http://www.garp.org/risk-news-and-resources/risk-headlines/story.aspx?newsid=38690 Long story short, higher cost of borrowing leading to higher costs throughout. But as the article notes, the government is taking steps by chipping in with its own contribution and is asking banks to slim up by cutting down on pays and dividends.

Hi Has anyone returned to UK with an outstanding balance on an Oz credit card? How did you pay it off? Thanks Emma

Credit Suisse Goes For Broke: Predicts End Of Euro, Escalating Bank Runs On "Strongest European Banks" http://www.zerohedge.com/news/credit-suisse-goes-broke-predicts-end-euro-escalating-bank-runs-strongest-european-banks

We have everything in order....visa active, bank account, letter showing employment in Oz and salary, letters of reference from our previous bank in the US, etc. Basically everything we've been asked. Still no luck securing financing for a vehicle. It's getting a tad frustrating. It looks like we may have to get an unsecured loan for a ridiculous interest rate to get a vehicle. That is not acceptable. Does anyone have any suggestions on a better way to go about this process here?

Hi Can anyone tell me if you are credit checked internationaly in Australia. Will my UK credit history show up on a credit search in Oz if i still have my UK account open? I am getting different answers on the net, some say you start from scratch in Oz with no following credit from the UK. Others say the Ozzy banks etc do international searches ? I am hopeing to start a complete fresh with everything including credit. Is this possible

Hi there, hope someone can answer this for me. does your UK credit rating have any affect in Oz, would Aussie banks or finance companies, check your British rating, it would be nice to be able to bring a decent credit history with me when I go.

I wrote this on Perth Poms on the 5th October, the rates have changed for the worse. Not sure if this is common knowledge but whilst investigating the best way to pay my visa fee I came across a couple of credit cards that are excellent for buying things in foreign currencies, even the big no-no of taking cash out. They are the Halifax Clarity and Santander Zero (I think this one is only available to Santander customers) and they charge no transaction fee for foreign purchases, you also make your purchase at the Visa or Mastercard book exchange rate which more or less tracks the markets. This can mean a substantial saving on something like purchasing a visa or spending while on holiday. Some examples based on yesterday's rates - the rate according to x-rates.com was 1.63268 and xe.com has it as 1.6349 If your transaction for your 176 visa (AUD2960) cleared yesterday using one of the cards I mention then it will convert at the Mastercard exchange rate of 1.642133 and will therefore cost you £1802.53. If you had used a Barclaycard, for example, for the same transaction it would cost you £1852.10 after they applied their foreign commission of 2.75%, this equates to an exchange rate of 1.59818. If you had used your Visa Debit card issued on your current account then although you are getting a base exchange rate of 1.620733 by the time your bank adds its foreign transaction fees and commission you will be paying £1877.80, an equivalent exchange rate of 1.57631. If you have a Santander Zero current account you won't incur the fees so get the Visa exchange rate unadulterated. It's also great for spending while you are away, the exchange rate Travelex are offering today is 1.5673 online (buy at the airport and you'll get even less). If you were to convert £500 to australian dollars you'd be getting $783.65, if you spent that much on your Clarity or Zero card then you'd be facing a bill of £477.21. All this assumes that you pay your card off in full as soon as your payment is due (you get up to 56 days interest free credit with cards). If you can do this then there is one more way to save. It's always been a given that you never, ever take cash out on a credit card whilst abroad as you get hammered on fees and the interest starts building instantly. This still holds true but if you were to use the Clarity or Zero cards abroad then you might still be better off if you are smart. The Clarity only charges 12.9% APR on cash transactions (same as purchases) or 1.075% per month which means that if you took your £500 out in Australia from a fee-free cashpoint machine then you would get $821, if you paid it off within 30 days then that would cost you £8.75 in interest giving an equivalent exchange rate of 1.61375 which is still much better than you'll get on the high-street, pay it off the day you take the cash through an internet banking payment and it becomes even cheaper The downside to all this is that you are effectively becoming a currency speculator, if you buy cash from then high-street and take it on holiday then your exchange rate is locked in, if you buy on holiday you get the book rate on the day your transaction is settled which could be lower if there is a run on the pound - of course you may also gain if the dollar continues to fall. It maybe worth buying some currency beforehand with a buy-back guarantee, you can use the internet to check the day rates and take it from there.

we returned to the uk at the beginning of year and i left my electric bill/foxtel bill unpaid but we want to return to oz now how can i check my credit rating in oz now that im in the uk ? and would this go against me renting over there now ?

How long is it before your able to get loans and credit cards after you land in oz.

Ok I have been here a number of years now and still not got my head around this, but, if you already have the funds in your account why does it cost you 65c if you choose cheque (this won't be all banks but Bendigo does) yet if you choose credit the money is still coming out of the same place but doesn't cost you.:goofy:

Hi all, I've just been looking at a few credit card comparison sites to try and find a decent credit card for travelling abroad. I fly to NZ around once a month, and we're planning to visit other places occasionally too. We currently have debit cards with Westpac choice, and the foreign transaction fees are higher than I'm used to in the UK, hence I thought I might shop around for a better option. Basically I'm looking for low transaction fees. Many cards use the exchange rate set by MasterCard/VISA/Amex, but may add a fee on top of that. Also - I notice most cards are for PR, and we don't have PR yet. What alternative approach do people use for getting foreign funds? In the UK, our best option was usually Nationwide ATM card (before they introduced a fee), or Post Office for currency. Thanks! D

Hi guys, I am not sure if this is the correct forum or if I am asking a daft question. Currently my australian gf is living in the Uk but has a credit card in australia. I have just fund out that she has just been paying the minimum per month and now the debt has doubled to around $5k. Is it possible to pay the full amount off by using a Uk credit card (so that i can get 0% interest free for 15 months) and pay the debt off here without paying the ridiculous interest charges? or do they frown upon payment from another country? As we are planning to emigrate in a years time is it possible for me to apply for an australian CC with a reduced rate and pay off the debt from that? (if so how would i go about applying). Could she apply for a new card from here using her payslips here and then pay off this CC? Is this possible as the Uk CC would be under my name and the Aus card under hers? Would i get charged a conversion rate on my card and the Aus CC or just one or neither? Any help would be much appreciated. Cheers for your help in advance Benson

Am I right to presume that during the visa process they take a look at your credit rating? I'm not overly worried about it but I know in the past I probably didn't have a perfect rating when I was late teens early 20s etc. Just figure it may be another factor to consider!

For those of you who have migrated with kids, when did you notify the tax credit office and child benefit. Was there any issues with regards to finalizing tax credits before year end? Any advice appreciated :chatterbox:

Hi, my oh is going out first at the end of next month and we have been looking into hiring a car to start with, however all the sites I have looked at they want a swipe of your credit card, however we don't have one, we do however, have one of those prepay mastercards but I don't know if that would do the job or not and if so, how much would I need to have on it for it to be used. Any advice please???? :cute:

Credit rating agency Standard & Poor's on Friday downgraded the credit rating of the United States, stripping the world's largest economy of its prized AAA status. This could have serious consequences on top of the stock market down turn this week. I am glad I sold our shares 8 days ago Hang on to your seat! http://money.cnn.com/2011/08/05/news/economy/downgrade_rumors/index.htm?iref=BN1&hpt=hp_t1

Hi there everyone, Just a quick question, we have just been sorting a hire car out for a week for when we arrive in Brisbane on 24th August and we were just about to book and the man on the phone mentioned all the things needed when we collect the car from the airport, driving licence etc and a credit card, I wasnt going to say anything I would just have used my debit card for the account here in the UK but something made me ask if I could do that and they replied NO! I said what are we supposed to do? we havent got a credit card and for someone to presume everyone has a credit card well thats not right, can anyone help or are we going to be stuck until we get a car? we planned on getting a car bought within a week or so anyway. but I dont know what to do, we will land with our 2 children and cant get to our holiday home and have no transport to get anywhere aaaarrrgggghhh:arghh:. Please please please can anyone suggest something anything? Surely there has been someone other than us in this type od situation, another hurdle to get over as if we arent stressed enogh eh? ha ha ha typical us tho! Thanks for listening to me go on The Hayes Family:sad:who are nearly in the Sunshine Coast. By the way we dont know anyone when we get there and the cheeky bloke on the phone of Car hire 3000 said get someone you know to pick you up IDIOT:realmad:

hi just wondering if you can pay credit card from oz with bpay ? also if you use in oz is their extra charges ? we thinking of going back and going to rent house so will need to put shipping and house bond on credit card ? anyone have any advise ? thanks

Having moved internationally on several occasions, we found the one thing people don't give much thought to is their credit history or building a new credit history/score. It may not be the most important thing on your list of things to do, but it soon becomes very important when you need to buy vehicles or a house. So, with this in mind, it would be great if someone could give some advice on key things to do on arrival in order to start up their credit rating. In the UK it is key to register on the electoral roll and live in one address for 3 years, but what is the advice in Australia? How long does a person need to wait in order to apply for credit to buy a car? Are there things we need to know when applying for credit of any kind? Thank you.

Hi guys Got a question! Having always owned our own home, never been in debt and never rented, what kind of references will an Australian landlord need for us to secure a rental? Mortgage Yearly statements?? personal references?? I just don't know what kind of info to gather before we leave Blighty? Lisa

Its about time banks here got a grip. Really are third world at times http://www.smh.com.au/business/major-banks-cancel-credit-cards-after-breach-20110527-1f72w.html

get this, jamie uploaded his cv to Logan council in Brissie ages ago like last year at some point anyhows a jobs came up identical to his and we received an email asking us our visa status and would jamie be interested in applying! Cant believe it, bit late now, its where we always wanted to go but could they not have done this last october:arghh: anyhoos for those still trying keep at it as doors will open in the end x