How long until you get a credit rating

[dmaxontour]

Hi,

 

I tried to organise credit here using Ezi LEase, but was told there was not enough info to give me a rating. I asked what was needed, the man on the phone said he "can't tell me that" and was generally unhelpful. As it turns out, their interest rates are very bad anyway so I'm better off.

 

But how does it work here (NSW)? I have been here since March 2013. I've been in fulltime permanent work since July 2013. I've been in a permanent address since Nov 2013. I'm also a permanent resident (Returning) as I was first resident (Defacto) in 2002 and we are now married with a son.

 

So my question is... When can I expect to be able to get a credit rating?

 

Thanks in advance,

Dec

[Andrew from Vista Financial]

Hi Dec

 

It would depend on the type of credit you are looking for however generally it is based more around your merit to service the debt and your current position.

 

We secured finance for a car on a temporary visa almost immediately after arriving and without having any other form of credit, the loan was 50% of the asset value so this of course would have helped.

 

Previous history is part of what is considered here but mainly your asset/liability and income/expenditure position is more important especially when looking at mortgages.

 

Regards

 

Andy

[dmaxontour]

Thanks Andy,

 

We got credit through Harvey Norman to buy a fridge, but it was limited. We don't have assets or debt (except the fridge) and I have full time work since July, but we have only been renting since late November. I think once time passes we'll have no problem, but foir now it's a waiting game. Just not sure how long.

Cheers,

Dec