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    • gthe
    • By gthe 15th Jul 17, 3:53 PM
    • 5Posts
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    gthe
    Credit score for new UK residents
    • #1
    • 15th Jul 17, 3:53 PM
    Credit score for new UK residents 15th Jul 17 at 3:53 PM
    HI all,

    I am an expat from Greece, living and working in UK since last year. I need some advice about how i can build up my UK credit score which i guess is zero since i cannot trasfer any credit history records from Greece (back home i have 2 credit cards based on my previous job income). I would like to notice that i don't need to borrow any money at all, i don't need any overdraft or mortgage for now.

    The only think that i need is a UK credit card for 2 reasons: 1. All UK debit cards have fees for non-Sterling transactions (this was a bit of surprise for me when i arrived). 2. Taking advantage of a possible 0% Interest Instalment Payment if needed. I am an experienced user of credit cards for many years and i am always paying 0% interest full amount by the end of every month (or up to 45 days).

    I have already applied once in my bank (where my salary is paid), Nationwide, for the Select card but been rejected, although the soft search quote was 4K pounds for me.... . So for now, i have acquired the Starling debit card that at least has no fees for non-Sterling transactions to solve this issue. But i cannot understand how i can improve my credit score, without having credit products at all. Can my direct debits for all my bills and my cellphone contract actually improve the credit score, or will this remain zero?
Page 1
    • zx81
    • By zx81 15th Jul 17, 4:08 PM
    • 13,173 Posts
    • 13,485 Thanks
    zx81
    • #2
    • 15th Jul 17, 4:08 PM
    • #2
    • 15th Jul 17, 4:08 PM
    Don't worry about credit scores. We don't have them in any meaningful sense in the UK. Any that you see are not real. You just want to build a credit history.

    Try a sub prime lender for a card. Vanquis may be appropriate.
    • Fireflyaway
    • By Fireflyaway 15th Jul 17, 5:24 PM
    • 1,170 Posts
    • 1,201 Thanks
    Fireflyaway
    • #3
    • 15th Jul 17, 5:24 PM
    • #3
    • 15th Jul 17, 5:24 PM
    Being on the electoral register and paying your bills on time ( some companies report to the reference agencies) does help. A mobile phone on contract if you don't already.
    Have you tried your own bank? I found although my credit score is poor my own bank let me have a credit card because my behaviour with them is good.
    • gthe
    • By gthe 15th Jul 17, 5:36 PM
    • 5 Posts
    • 0 Thanks
    gthe
    • #4
    • 15th Jul 17, 5:36 PM
    • #4
    • 15th Jul 17, 5:36 PM
    Yes i have tried my own bank, Nationwide, hoping that since they have records of my salary income and my expences they will at least give me a card with a very low credit limit. But although the estimated quote was high enough (4k) the decline was instant .... which means their quote is misleading. I guess that since they use expedian they got a blank report for my credit history.

    All my bills are direct debited including my mobile contract. Maybe i have to enter the electoral also or try one of the sub prime lenders for now.
    • venison
    • By venison 16th Jul 17, 8:55 PM
    • 1,171 Posts
    • 1,223 Thanks
    venison
    • #5
    • 16th Jul 17, 8:55 PM
    • #5
    • 16th Jul 17, 8:55 PM
    Yes you need to be on the electoral role for the address you are living at, without that NO one will give you credit.
    Doomed I say we're all doomed.
    • bazzyb
    • By bazzyb 16th Jul 17, 9:29 PM
    • 1,025 Posts
    • 3,175 Thanks
    bazzyb
    • #6
    • 16th Jul 17, 9:29 PM
    • #6
    • 16th Jul 17, 9:29 PM
    Your credit score is pretty meaningless in your situation. If you get a copy of your report it will probably show a perfect or excellent score as there is nothing detrimental on there. Credit card providers won't be particularly interested in this meaningless score.

    Most mainstream lenders will require at least 3 years UK address history as a minimum, I don't know if this is definitely the case for Nationwide but it wouldn't surprise me if that is the reason why you were declined.

    You are probably looking at a sub-prime card and I would suggest before submitting any applications you check their minimum eligibility criteria to see how long they require you to have been living in the UK.

    I would be surprised if you would get a 0% offer from anybody.
    • bazzyb
    • By bazzyb 16th Jul 17, 9:31 PM
    • 1,025 Posts
    • 3,175 Thanks
    bazzyb
    • #7
    • 16th Jul 17, 9:31 PM
    • #7
    • 16th Jul 17, 9:31 PM
    Yes you need to be on the electoral role for the address you are living at, without that NO one will give you credit.
    Originally posted by venison
    Not true.

    Having said that, being on the electoral roll will certainly improve the chance of success.
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