Credit cards for new residents with no credit history?

Leeda

Hi,

An Australian friend of mine arrived here 5 months ago to work here on a permanent basis.

He has been declined with Barclays for a credit card and also HSBC. He rang up and asked them about their highest interest card and explained that he had no credit history in the country and was currently working here but the credit card application was declined again!

I am perplexed as he earns over £100,000 a year and doesnt want to keep using his Aussie credit card due to the exchange rate.

What can he do?

avi_3

apply with the bank where he has his income going. They will surely consider

M_Thomson

I don't think they will, if he doesn't have any credit history. Salary doesn't make a difference.

as400

Earning that sort of money he will not need a credit limit.

Tell him to get signed onto the electoral roll and get in the phone book, both these things will help his credit rating.

He will qualify for a visa electron via Halifax and after 4-6 months of regular monthly transactions it is very likely he can get an upgrade to a 'proper' Visa.

In the mean time he can access his Halifax Cardcash account via the net, make payments via the net, set up direct debits, pay for goods and services with his visa electron card and utilise ATM machines to withdraw £300 a day.

Very few places will not accept this card.

http://www.halifax.co.uk/bankaccounts/cardcash.shtml

Leeda

Thanks As400, I will make that suggestion to him.

Very hard for foreigners here! It took me some time to get my credit card too... HSBC didnt reject me for some reason...

briona

Definitely apply to the bank where his salary is paid.

I moved to the UK four years ago [from Rep. of Ireland] and although, having been born here, I am a British citizen with a UK passport, I really struggled not just to get a credit card but to open a bank account!

Finally I managed to open an account with HSBC [despite not being visible on the electoral role – I had signed up but they hadn't upated the records – or having any bills in my name] and made it clear to them that I really wanted a credit card. They gave me a pathetic £500 limit [even my little sister – SEVEN years younger than me – got a £1000 limit!] but having used the card to their satisfaction, they have raised the limit every August and every February and it's now £4500. I think it probably helped that I applied for the account & card in person, rather than just being a set of statistics on a form...

Briona