Wooba Posted March 29, 2016 Share Posted March 29, 2016 My spouse and I are now NAB customers. We activated our accounts in Feb. Later this year we'll be making the permanent move. I'm just wondering if there any value to bringing a copy of my credit report from Canada? I have about as good a credit rating as you can get but obviously none in Australia. I'd like to get a credit card as soon as I arrive. It doesn't have to be a huge limit, it's just extremely handy to have and I typically use them to buy everything. I don't really like paying with debit cards. Thanks.. Link to comment Share on other sites More sharing options...
Tickled Pink Posted March 29, 2016 Share Posted March 29, 2016 Nope, none at all. New country, you'll have to start from scratch. Link to comment Share on other sites More sharing options...
srg73 Posted March 29, 2016 Share Posted March 29, 2016 You will be starting from fresh financially and any decision the bank makes will be based on your AU record. We bought a car, paid 50% and took a loan for the remaining 50%. This was only allowed due to being a small loan, me having signed contracts with my work and earning a very good wage....I could pay the loan with 1 months wage if needed plus had savings in case. With an established credit record we applied successfully 6 months later for a mortgage. We don't have credit cards and gave up trying to get an overdraft due to the paperwork required. S Link to comment Share on other sites More sharing options...
Guest Posted March 29, 2016 Share Posted March 29, 2016 When we moved American Express were most helpful in establishing an account for me in Australia based on my relationship and account held with them in the UK. Link to comment Share on other sites More sharing options...
Wooba Posted March 29, 2016 Author Share Posted March 29, 2016 Thanks for the replies. I was thinking of using American express for this purpose.I was a customer for years, but no longer. Is it widely accepted in Australia? Link to comment Share on other sites More sharing options...
rosiew Posted March 29, 2016 Share Posted March 29, 2016 Thanks for the replies. I was thinking of using American express for this purpose.I was a customer for years, but no longer. Is it widely accepted in Australia? Not really. Fine to use for groceries but you can't usually pay bills with it (and if you can there is a surcharge). Many restaurants and retailers will not accept it. Better to have a card with a Mastercard or Visa imprint. Link to comment Share on other sites More sharing options...
Wooba Posted March 29, 2016 Author Share Posted March 29, 2016 I agree Rosie. I got rid of my amex for a mastercard (with points) 4 or 5 years ago.. although it's widely accepted here, the other 2 are accepted more. I figure besides the convenience of having some sort of credit card, it would establish a credit record much quicker. Only issue is I'd have to apply for a card here right now and use it for the next several months. Not sure if it's worth the bother or not. Link to comment Share on other sites More sharing options...
Guest Peter at NAB Posted April 1, 2016 Share Posted April 1, 2016 Hi Wooba Yes you do start a new credit history in Australia. We normally recommend you have aceess to your last six months of financial statements, credit cards, home loan and any other credit and bring along to your activation meeting. It will provide the personal banker with a recent snapshot of how you operate your finances and what products/services you have used in the past. Your employment contract once you have a role will also help with any credit applications. Kind regards Peter at NAB Link to comment Share on other sites More sharing options...
Guest Kristine May Padolina Posted May 17, 2016 Share Posted May 17, 2016 Do a person need to have a god credit rating in order to apply for a loan too? Link to comment Share on other sites More sharing options...
Guest Peter at NAB Posted May 17, 2016 Share Posted May 17, 2016 Do a person need to have a god credit rating in order to apply for a loan too? If you are a new migrant to Australia any application for credit will be looked at on a case by case basis and will depend on your individual employment circumstances, savings etc. Your credit history will start again - see comments above. Kind regards Peter at NAB Link to comment Share on other sites More sharing options...
Guest Kristine May Padolina Posted May 18, 2016 Share Posted May 18, 2016 If you are a new migrant to Australia any application for credit will be looked at on a case by case basis and will depend on your individual employment circumstances, savings etc. Your credit history will start again - see comments above. Kind regards Peter at NAB Thanks! How much will I need to save up in order to have a good credit rating? Link to comment Share on other sites More sharing options...
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