Is it easier to open a bank account or get a credit card?

maxsquared

So Bank account (current account with OD) and Credit Card, which one is easier to get? Just curious.

Organic12

Can't say either way based on personal experience.

However, I did once work with someone who'd come over from Australia and got a UK credit card immediately but couldn't open a basic current account for love nor money.

It was many years ago but I think it was something like six months before she was granted a basic current account. In the meanwhile, she had to have her salary paid into her friend's account and hope the friend didn't do a runner with the money.

Never made any sense to me at all as the credit card company had no guarantee that she'd pay her bill, whilst the bank would have the cash. I think it was all due to having a history of living in the UK??

chambta

I would say in the present climate a current account with overdraft. If people have a reasonable credit rating on account opening generous overdraft limits are generally offered by the bank I work for. Whether we give them to people or not is another thing altogether!

olly300

From what I know from people from overseas neither unless they have some form of link with a particular bank like employer banks with them, partner banks with them or bank they use back home is a subsidiary of them.

maxsquared

I would have thought it's bank account, but apparently it's more difficult to get a bank account for someone who doesn't have a credit history, as one of my friends from Canada is having the problem and asking to pay wage into my account.

olly300

maxsquared wrote: »

I would have thought it's bank account, but apparently it's more difficult to get a bank account for someone who doesn't have a credit history, as one of my friends from Canada is having the problem and asking to pay wage into my account.

Don't let your friend use your bank account. As it will be more hassle than you want.

Instead tell them to get their employer to write a letter to the bank the employer uses to open accounts for their staff. Lots of large companies do this by default but smaller companies will do it if they are asked.

withnell

olly300 wrote: »

Don't let your friend use your bank account. As it will be more hassle than you want.

As long as you just receive the payment and hand them the cash then it's really not a hastle - just need banks that let you take out decent amounts of cash over the counter!