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mt9754

Building a new credit rating fast when u arrive

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I wondered what tricks were out there for building a decent credit score fairly quickly once in Oz.

Before leaving the UK i have 2 recommendations:

- Get an Amex more than 6 months before you leave.  Amex Global Transfer basically means they will give you an Australian CC based on your UK credit score.  I used this and it’s been amazing to have a great cc with a high credit limit from day 1.

- If you have HSBC in the UK, they can setup an Australian bank account for you before you leave, they will also give you an Australian HSBC CC based on your UK credit score

Any other hints and tips for shortcutting the long journey of building up a good credit rating?

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Credit scores are not that important in Australia. 

I was astonished, when we lived in the UK a few years ago, how much credit scores ruled everyone's lives.  We're hardly aware of them here.  

Good to know that HSBC allows you to set up an Australian bank account before you leave.   Until recently, only the "big 4" banks offered that facility and if you compare their rates and services, they perform poorly compared to most other Aussie banks so they're not a good choice.  At one time, they were attractive becauese of their huge branch and ATM networks, but that's irrelevant now. 


Scot by birth, emigrated 1985 | Aussie husband applied UK spouse visa Jan 2015, granted March 2015, moved to UK May 2015 | Returned to Oz June 2016

"The stranger who comes home does not make himself at home but makes home itself strange." -- Rainer Maria Rilke

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That’s good to know but i think it’s still important in the early days.  

For example, my partner wasn’t able to get a phone contract until they had a credit history.  We did the Amex Global Transfer CC and a couple of weeks after it arrived it unlocked getting a phone contract.

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6 minutes ago, mt9754 said:

That’s good to know but i think it’s still important in the early days.  

For example, my partner wasn’t able to get a phone contract until they had a credit history.  We did the Amex Global Transfer CC and a couple of weeks after it arrived it unlocked getting a phone contract.

That sounds weird.  I got a phone contract in the UK immediately, with no credit history at all, and the UK is generally much fussier than here.

I wouldn't touch Amex with a bargepole, not universally accepted and sometimes incurs surcharges and fees where other credit cards don't. I guess it's fine to get the short-term credit rating but I'd be cancelling it after that.

Edited by Marisawright
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Scot by birth, emigrated 1985 | Aussie husband applied UK spouse visa Jan 2015, granted March 2015, moved to UK May 2015 | Returned to Oz June 2016

"The stranger who comes home does not make himself at home but makes home itself strange." -- Rainer Maria Rilke

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2 hours ago, Marisawright said:

Credit scores are not that important in Australia. 

I was astonished, when we lived in the UK a few years ago, how much credit scores ruled everyone's lives.  We're hardly aware of them here.  

Good to know that HSBC allows you to set up an Australian bank account before you leave.   Until recently, only the "big 4" banks offered that facility and if you compare their rates and services, they perform poorly compared to most other Aussie banks so they're not a good choice.  At one time, they were attractive becauese of their huge branch and ATM networks, but that's irrelevant now. 

HSBC have allowed it for a number of years. I remember a client over 10 years ago who opened their account, at the time there was only 1 branch in Victoria which was in Melbourne CBD that they could verify their identity with when they arrived. Unfortunately for them their money got lost in the transfer from the UK branch to their new Aussie account and they went 3 weeks without any money until it was sorted. 😡 

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If you are depressed you are living in the past. If you are anxious you are living in the future. If you are at peace you are living in the present.

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2 hours ago, mt9754 said:

That’s good to know but i think it’s still important in the early days.  

For example, my partner wasn’t able to get a phone contract until they had a credit history.  We did the Amex Global Transfer CC and a couple of weeks after it arrived it unlocked getting a phone contract.

Usually you need your 100 points of ID and proof of income if taking out a contract. If you just want a PAYG sim or a phone from BIGW, Target etc then they usually ask for a Drivers License or passport 

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If you are depressed you are living in the past. If you are anxious you are living in the future. If you are at peace you are living in the present.

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3 hours ago, mt9754 said:

I wondered what tricks were out there for building a decent credit score fairly quickly once in Oz.

Before leaving the UK i have 2 recommendations:

- Get an Amex more than 6 months before you leave.  Amex Global Transfer basically means they will give you an Australian CC based on your UK credit score.  I used this and it’s been amazing to have a great cc with a high credit limit from day 1.

- If you have HSBC in the UK, they can setup an Australian bank account for you before you leave, they will also give you an Australian HSBC CC based on your UK credit score

Any other hints and tips for shortcutting the long journey of building up a good credit rating?

https://www.homeloanexperts.com.au/credit-score-home-loan/what-is-my-credit-score/ Is worth a read

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If you are depressed you are living in the past. If you are anxious you are living in the future. If you are at peace you are living in the present.

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6 hours ago, Marisawright said:

I wouldn't touch Amex with a bargepole, not universally accepted and sometimes incurs surcharges and fees where other credit cards don't. I guess it's fine to get the short-term credit rating but I'd be cancelling it after that.

I still have a UK Amex card, which is free and has some minor benefits, but Australian Amex are always trying to suck you in with some fancy deal - followed by a huge annual fee.

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6 hours ago, mt9754 said:

Any other hints and tips for shortcutting the long journey of building up a good credit rating?

Obtain a drivers licence of the state that you intend to live in as soon as possible after you arrive. You'll be amazed how much it is relied on as form of identification when you apply for just about anything over here (at last in Queensland).

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That's true, always pay 

2 minutes ago, Wanderer Returns said:

I still have a UK Amex card, which is free and has some minor benefits, but Australian Amex are always trying to suck you in with some fancy deal - followed by a huge annual fee.

That's true, always pay it off each month.  I've never had an Amex rejected (except where they don't accept it) so I like to have it in my wallet as a backup, and it helps me top up the Qantas points for upgrading those trips back and forth too 🙂

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4 hours ago, The Pom Queen said:

HSBC have allowed it for a number of years. I remember a client over 10 years ago who opened their account, at the time there was only 1 branch in Victoria which was in Melbourne CBD that they could verify their identity with when they arrived. Unfortunately for them their money got lost in the transfer from the UK branch to their new Aussie account and they went 3 weeks without any money until it was sorted. 😡 

Same thing happened to me with Westpac, except it was 6 weeks.   It can happen with any bank, I guess.

Edited by Marisawright

Scot by birth, emigrated 1985 | Aussie husband applied UK spouse visa Jan 2015, granted March 2015, moved to UK May 2015 | Returned to Oz June 2016

"The stranger who comes home does not make himself at home but makes home itself strange." -- Rainer Maria Rilke

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8 hours ago, Marisawright said:

Same thing happened to me with Westpac, except it was 6 weeks.   It can happen with any bank, I guess.

At least with Westpac you would have had numerous branches to try and sort it out. This poor couple had a 3 hour round trip to the city every time. 


If you are depressed you are living in the past. If you are anxious you are living in the future. If you are at peace you are living in the present.

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19 hours ago, The Pom Queen said:

HSBC have allowed it for a number of years. I remember a client over 10 years ago who opened their account, at the time there was only 1 branch in Victoria which was in Melbourne CBD that they could verify their identity with when they arrived. Unfortunately for them their money got lost in the transfer from the UK branch to their new Aussie account and they went 3 weeks without any money until it was sorted. 😡 

Sounds awful.  These days HSBC lets you do instant transfers between your own accounts across countries so it's less likely to go missing.

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