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emmaroo

Aussie Credit Card

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Hi

 

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

 

Thanks

Emma


Lang may yer lum reek!

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Mine is perpetually outstanding ie I pay it off totally every month. I have left an Aus bank account - and fortunately that is where my super goes - so I just do a b pay each month from that but I believe it is more difficult to transfer money from UK to an Aus account if that is where your money is earned (not needed to try that myself). I guess what you could do is aim for a personal loan when you get back to UK and use that to pay off your Aus credit card then you are free and clear of Aus liabilities and get a loan at a much lower rate of interest than your credit card is charging you at the moment. If you can hang on to an Aus bank account that might be useful in future although the charges can mount up if you arent using it regularly.

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Don't know the answer to your question, but I enquired about keeping my credit cards after return to UK. No problem the bank said, just advise us of your new address, and they will also send the new cards when the current ones expire.

A possible solution might be to post them an international bank draft each month, if there is still such a thing.

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Guest bubsblooms

We came back with a bank loan still not fully paid off - no credit card though. Now we have the problem (as the bank account balance has been used up paying the loan) that each repayment has the transfer fees on top. It has become difficult to repay and we are now in arrears. Seriously difficult as to transfer from a UK bank to Oz bank costs around £18 per time so that adds up to make the monthly repayment much more.... Bit of a disaster. I don't know if anyone responding can answer this but can they send in debt collectors from Australia to here?????? Does it affect the UK credit rating too? :sad:

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I think it would be best to just clear it from the UK with a loan, then its done. Then pay the UK loan off without all the messing of transferring internationally.

 

Keep that Aussie bank account though, I'm glad I never closed mine as it comes in quite handy. They know I live here now and send everything over to the UK, I do online banking and before I left I had to sign a form in my branch to say I agree to anything that requires my signature to be done via fax. The account I have (NAB) has no fee's, unless I used the ATM in the UK which I don't.


"If you spend your whole life waiting for the storm, you'll never enjoy the sunshine"

 

 

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We came back with a bank loan still not fully paid off - no credit card though. Now we have the problem (as the bank account balance has been used up paying the loan) that each repayment has the transfer fees on top. It has become difficult to repay and we are now in arrears. Seriously difficult as to transfer from a UK bank to Oz bank costs around £18 per time so that adds up to make the monthly repayment much more.... Bit of a disaster. I don't know if anyone responding can answer this but can they send in debt collectors from Australia to here?????? Does it affect the UK credit rating too? :sad:

 

if you use someone like xe.com, moneycorp or ozforex to transfer the money to Oz, you'll get a better rate and won't incur a transfer fee.

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if you use someone like xe.com, moneycorp or ozforex to transfer the money to Oz, you'll get a better rate and won't incur a transfer fee.

 

I use Ozforex every month to transfer money and I have to pay $15 each time. Not bad really considering it doesn't matter how much. Not sure how much it would be the other way around? From UK - AU?


"If you spend your whole life waiting for the storm, you'll never enjoy the sunshine"

 

 

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I've used xe.com for uk to aus transfers and they don't charge a fee. Paypal is also a fee free option but their rate is rubbish.

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